The impact of venture capital and its capacity to initiate and shape innovative activity has generated a substantial and thriving stream of cross-disciplinary research. Within this literature, the decision processes and investment criteria employed by venture capitalists have been the subject of sustained scholarly interest for over three decades (Tyebjee & Bruno, 1984; MacMillan et al., 1985, 1987; Sahlman, 1990; Roberts, 1991; Fried & Hisrich, 1994; Zacharakis & Meyer, 2000; Petty & Gruber, 2009). Previous work has provided us with rich insight into the investment criteria employed by venture capitalists during deal screening and evaluation (Hall & Hofer, 1993; Knight, 1994; MacMillan & Zemann, 1987), and has also provided evidence of a divergence between idealized and in-use decision-making policies (Zacharakis & Meyer, 1998; Shepherd, 1999). More recently, scholars have turned their attention to the influence of systematic behavioral and cognitive biases on investment decision-making (Zacharakis & Shepherd, 2001; Zacharakis et al., 2007; Franke et al., 2006, 2008).