After chapter two has outlined the emergence of VC and the principal process patterns that underline VC investements, this chapter concentrates on the exit as the final step in VC investments. Initiallu, this chapter analyzes common instruments such as contractual agreements, exit vehicles and the general exit process patterns from the VCF’s perspective. Thereupon, this chapter examines the present challenges VCFs face at exit. The insights from this analyses guide the development of the research model in the subsequent chapter.


Private Investor Public Investor Public Market Portfolio Company Trade Sale 


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© Deutscher Universitäts-Verlag/GWV Fachverlage GmbH, Wiesbaden 2006

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