Abstract
PurposeThis paper aims to adopt a practice-theory, "site ontology" perspective to understand how venture capitalists (VCs) add value to their portfolio companies (PCs).Design/methodology/approachThe empirical research involves a field ethnographic study of a VC firm in Dubai, focused on revealing what constitutes value and what VCs do to add this value to their PCs.FindingsValue adding is a profoundly social, embedded process interconnected with other ecosystem actors, investment practices and organizations. The value adding threads of VC activity are part of a holistic configuration of practices that span the investment lifecycle and different levels within the firm.Originality/valueThis research contributes a rich account of the social, symbolic nature of VC activity, depicting the everyday activities that comprise value adding practices. It is among the first to introduce practice theory to the VC context and open up a new conversation about its social ontology.