New technology-based firms that receive external private equity financing grow faster than those that don't, especially with venture capital. The relationship between financing and growth can be seen in two ways: financing spurs growth, or fast-growing firms attract financing. A study of 537 Italian firms shows that external private equity financing does indeed boost growth, while firm growth doesn't necessarily lead to obtaining financing. Different types of private equity investors, like Venture Capitalists and Corporate Venture Capitalists, have varying effects on firm growth after providing financing.