Title: Venture capital in Europe: investors and targets

Authors: Alessandra Tanda

Addresses: Department of Economics, Management and Quantitative Methods, DEMM, Università degli Studi di Milano Via Conservatorio, 7, 20122 Milan, Italy

Abstract: Venture capital is a key driver for the growth and development of business and its importance in Europe has been increasing in the last decades. This study provides additional insight on venture capital by evaluating the characteristics of the venture capitalists (VCs) that operate in Europe and by giving an overview of the investment strategies and portfolios, as well as of the characteristics of the funded businesses and the level of survivorship of targets. The analyses suggest that VCs tend to invest more in high tech industries and confirm the cyclicality of VC, as the number of investments and the sum invested decreased during the crisis.

Keywords: venture capital; investment portfolios; investment strategies; Europe; survivorship; financial crisis; high tech industry; high technology; cyclicality.

DOI: 10.1504/GBER.2016.076257

Global Business and Economics Review, 2016 Vol.18 No.3/4, pp.469 - 486

Received: 03 Sep 2014
Accepted: 02 Mar 2015

Published online: 29 Apr 2016 *

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