Portfolio entrepreneurship in the technology industry: An analysis of Crunchbase data towards a conceptual model and propositions

Current research in entrepreneurship distinguishes portfolio entrepreneurs (those who own and manage more than one company simultaneously) from nascent and serial entrepreneurship. Thus far, empirical research mostly treats portfolio entrepreneurs as a homogenous group with similar characteristics. This article presents conceptual propositions to examine variation within portfolio entrepreneurship in the context of technology start-ups along the structure/agency distinction. First, we perform a review of existing theory on entrepreneurial activities to identify relevant areas of conceptual advancement. Second, a set of empirical attributes is identified, derived from an analysis of secondary data extracted from Crunchbase, comprising a sample of entrepreneurs with the highest number in (co-)foundations of technology start-ups (N = 1001). The results are integrated towards a comprehensive conceptual framework. This conceptual model contributes to a more processual understanding of portfolio entrepreneurship and outlines six areas for more deductive and comparative research. We provide practical and policy recommendations to acknowledge the variation within portfolio entrepreneurship as factor affecting the outcomes of entrepreneurial activities.