This article offers a review of conceptual and empirical research on knowledge components during the process of new venture internationalization. A framework is developed to illustrate different knowledge components that constitute ‘international knowledge’. We focus specifically upon the interface between entrepreneur and venture capitalist knowledge respectively. Propositions are developed in relation to these knowledge components; based on our framework and the related propositions, suggestions for future research activities are outlined. Finally, we offer insights for managers and investors in the development of their internationalization strategy.