While existing research on international new ventures (INV) has significantly advanced the understanding of the drivers of early venture internationalization (Oviatt & McDougall, 2005; Zucchella, 2007), venture strategies and behavior after early international entry have received less attention. The survival and success of INVs seems to depend on entering many foreign markets to create competitive advantages and a sufficiently large customer base (cf. Oviatt & McDougall, 1994). However, resource scarcity associated with young ventures (Zahra, 2005) poses a serious constraint to large-scale internationalization. Hence, young ventures have to balance the need to enter foreign markets with their limited resource base. How this challenge translates into international strategy selection by young ventures, why ventures select a particular approach, and how the approaches drive internationalization success are the main research questions of this paper.