Virtual teams are predicted by many to be the form that is much more flexible than traditional teams. In this paper we execute empirical analysis of the theoretical framework presented earlier. Data was collected through an online survey of the Information Systems specific interest group of Project Management Institute, and executive students at IIM Bangalore. Arguing flexibility to be a formative construct, the data was analyzed using PLS. It was found that virtuality positively and significantly affects flexibility, moderated by technology infrastructure, and team experience.