It was shown that firms with pronounced dynamic capabilities (DCs) are intensely entrepreneurial and more effective in configuring and reconfiguring their portfolio of entrepreneurial competences in dynamic environments. DCs also play an important role in the evolution of young ventures, although it is recognized that their characteristics differ from DCs in established firms (Sapienza et. al 2006). As empirical studies on dynamic capabilities in new ventures and their development in later firm stages are rare (Autio, Georg & Alexy 2011; Zahra et al., 2013), we investigate the question: Which types of dynamic capabilities are employed in young successful entrepreneurial firms and how are these dynamic capabilities employed in established successful firms?