Biotechnology companies can access financial and management resources through venture capitalist (VC) firms. An analysis of 1,490 VC investments shows that country-of-origin (CO) of biotech companies has an effect on the participation by VC firms in various biotech subsectors. Specifically, it is found that US biotech companies tend to have higher amount received per VC firm, greater number of VC firms investing in them and greater biotech investment experience of the investing VC firms. Asia-Pacific biotech companies have consistently less VC firms investing in them and these investing VC firms tend to have less biotech investment experience. VC firms with greater biotech investment experience are also investing in European biotech companies more than those from the Americas less US. CO also correlates with outcomes in the four of the six key biotech subsectors studied. These findings suggest a strong CO effect of VC investment in biotech companies.