It is recognized that Venture Capitalists (VCs) add value to their portfolio firms, i.e. provide valuable support and governance. However, researchers are in dispute as to what degree VCs add value and previous research indicate that the value added activities are affected by stage, industry, company profile and so forth, in addition to the VCs’ personal preferences and knowledge. This study examines the value added contributions from Norwegian Venture Capitalists, as perceived by both Venture Capitalists (VCs) and their Portfolio Companies (PFCs). The aim is to reveal the structure, differences and pattern regarding VC value adding activities, in order to get a better understanding of how VCs contribute to their PFCs’ total resource base.