With the resurgence of de-globalization and decoupling, sanctions have become an increasingly common tool in international policy, disrupting cross-border trade and technological ecosystems. This study explores how venture capital (VC) investors respond to sanctions by analyzing their subsequent investment decisions in targeted sanctioned fields within the high-tech industry. Furthermore, we identify critical boundary conditions that amplify or constrain the impact of sanctions on investment decisions, offering insights into the contingent effects of sanctions on VC investment behavior. This research contributes to the intersection of techno-nationalism, VC investment behavior, and innovation research.
