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Venture capital investors frequently syndicate by inviting other investors to co-invest in entrepreneurial ventures. Syndication helps firms calibrate risk, increase deal flow, reach new geographic areas, and make more informed investment decisions. Yet the typical syndicate is not as large for international ventures as for US ventures. In this paper, we evaluate the prevalence by country of two major institutions that enable syndication: a legal system and cultural norms. Our analysis compares the determinants of syndicate size for ventures within and outside the US. We consider implications for overall entrepreneurial activity and the development of the venture investing community.