We examine how entrepreneurs’ political values affect their ventures’ stakeholder orientation, and how this orientation affects venture funding. We also show how the political ideologies of financiers influence their investment choices and relationships with entrepreneurs. Using a sample of 652 ventures backed by 332 financiers and information on political values and ideologies of entrepreneurs and financiers, along with text-based analyses of documents to infer stakeholder orientation, we find ventures with a narrow orientation obtain more funding than those with a broader orientation, and this relationship is moderated by financiers’ political ideologies. The findings have implications for stakeholder theory in entrepreneurship.

我们研究了企业家的政治价值观如何影响他们的风险投资人的利益取向，以及这种取向如何影响风险投资。我们还展示了金融家的政治意识形态如何影响他们的投资选择和与企业家的关系。利用由332位金融家支持的652家风险企业的样本以及有关企业家和金融家的政治价值观和意识形态的信息，以及基于文本的文档分析以推断出利益相关者的取向，我们发现取向较窄的企业比那些规模较大的企业获得了更多的资金。取向，并且这种关系由金融家的政治意识形态来缓和。这些发现对企业家中的利益相关者理论具有启示意义。