Abstract: We explored the influence of venture capital (VC) syndication on corporate governance of entrepreneurial firms from the perspective of board governance structure and the sensitivity of executive compensation on performance. Results show that VC syndicate-backed firms have a higher proportion of professional directors on the Boards, greater sensitivity of executive compensation on performance, as compared to individual VC-backed firms. The more the involved VC firms are, the higher the proportion of professional directors on the entrepreneurial firms’ Boards is, and the greater sensitivity of executive compensation on performance is. This means that, VC syndication can improve board governance structure and executive compensation contracts of entrepreneurial firms, and thereby raise the level of corporate governance. To correct the bias due to endogeneity in VC syndication, we also ran two-stage least squares (2SLS) regressions and the results are similar to ordinary least squares (OLS) regressions.