Entrepreneurial passion can be a strong proponent of new ventures success, but also has a disruptive potential in entrepreneurial teams. We use an in-depth longitudinal, qualitative study of 6 entrepreneurial teams - three failing and three surviving teams - over 12 months (up to 4 interview waves; 73 interviews in total) to develop a process model of (team) passion regulation, revealing team-focused and individual-focused pathways of passion dynamics that define whether passion leads to a successful entrepreneurial team development or not. Hence, the study offers important theoretical contributions to research on individual and team-level passion dynamics, interpersonal regulation, and entrepreneurial team survival.