One of the major aspects of the ‘entrepreneurial revolution’ that has occurred in Europe during the past 10 to 15 years — and somewhat earlier in the USA — has been the emergence of an institutional venture capital industry to provide long-term patient risk finance to growth-oriented businesses whose financing needs exceed the capability of the personal resources of the founders, bank debt and retained profits. The extent to which venture capital has been either a cause or an effect of the growth of the SME sector remains a matter for debate. Nevertheless, there is little dispute that venture capital has been, and will continue to be, a key driver in the creation and sustainability of an entrepreneurial economy.
KeywordsVenture Capital Investment Opportunity Venture Capital Fund Venture Capital Firm Bank Debt
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