Entrepreneurial firms need venture capital for growth. Governments usually help by improving access to finance, but entrepreneurs also need guidance on raising money. This study looks at how entrepreneurs view venture capital. They found that entrepreneurs play a bigger role in the relationship with venture capitalists than previously thought. Entrepreneurs use informal tools to deal with problems and risks. In places with less venture capital, entrepreneurs see the benefits of a more active market. When raising money, entrepreneurs should negotiate with venture capitalists about future plans.