Is entrepreneurship capital theory useful for international entrepreneurship research and practice? In this paper, we describe how international entrepreneurship research can benefit from including the concept of entrepreneurship capital at the individual level of analysis. We define entrepreneurship capital as a composite measure of entrepreneurial proclivity, human capital, and social capital of the entrepreneur. We present a conceptual framework that defines the relationship between entrepreneurship capital, the local and target business environment and international entrepreneurship. We argue for the moderating effect of the business environment between the relationship of entrepreneurship capital and international entrepreneurship. Moreover, we argue that entrepreneurship capital at the individual level will be an important predictor of survival rates of international entrepreneurship in benign and hostile targeting business environments when business firms explore the internationalization strategy. Finally, managerial implications and future research directions are discussed. Key words: International entrepreneurship, capital, entrepreneurial proclivity, human capital, social capital.