Entrepreneurial firms in emerging nations do better when backed by a mix of local and international venture capitalists. This is because international VCs bring expertise, while local VCs offer valuable local knowledge and lower monitoring costs. A study found that firms with both types of VCs have more successful exits and perform better after going public compared to those with only local or international VCs. The study used different analyses to show that international VCs can positively impact outcomes, even though they face challenges due to distance from the firms they invest in. When travel between countries is easier, firms backed by international VCs tend to be more successful.