Venture Capital and Enterprise

  • Richard Coopey

Abstract

Entrepreneurship usually implies the ability of individuals or key groups to found, run, or expand an enterprise in a successful fashion. More often than not this term is seen as synonymous with a heightened sense of innovation and risk-taking. All enterprises need capital investment, either in their initial stages, or through subsequent growth phases. A significant proportion of this investment may need to come from outside the enterprise. The role of external investors, whether individuals or institutions, therefore frequently forms one of the vital contextual factors enabling entrepreneurship to thrive. Viewed from another perspective, however, the action of investors or investing institutions can itself be understood as entrepreneurial. Individuals or banks, in seeking out or in making decisions over investments or investment strategies, may fulfil many of the criteria associated with the entrepreneurial firm. Entrepreneurship, therefore, is woven into the fabric of the capital investment process, both internally within the firm, through external relationships the firm may have with providers of funds, and within funding individuals or institutions themselves. This process and the relationships which develop vary considerably in their origins and effectiveness due to particular historical contexts.

Keywords

Marketing Volatility Stake Alan Keystone 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Birch, David (1979) The Job Generation Process (Cambridge, MA: MIT).Google Scholar
  2. Butt-Philip, Alan (1985) ‘ICFC 1945–1961’ (unpublished MS, 3i archive, London).Google Scholar
  3. Bygrave, William and Timmons, Jeffry (1992) Venture Capital at the Crossroads (Cambridge, MA: Harvard Business School Press).Google Scholar
  4. Capie, Forrest and Collins, Michael (1992) Have the Banks Failed British Industry? (London: Institute of Economic Affairs).Google Scholar
  5. Caunce, Steven (2003) ‘Banks, Communities and Manufacturing in West Yorkshire Textiles, c. 1800–1830’, in John Wilson and Andrew Popp (eds), Industrial Clusters and Regional Business Networks in England, 1750–1970 (Ashgate).Google Scholar
  6. Chandler, Alfred D. (1977) The Visible Hand (Harvard).Google Scholar
  7. Collins, Michael (1991) Banks and Industrial Finance in Britain 1800–1939 (London: Macmillan).CrossRefGoogle Scholar
  8. Coopey, Richard (ed.) (2004a) IT Policy in History: International Perspectives (Oxford).Google Scholar
  9. Coopey, Richard (ed.) (2004b) ‘Corporate Governance, Management and British Venture Capital Since 1945’, in Robert Fitzgerald and Etsuo Abe (eds), The Development of Corporate Governance in Japan and Britain (Aldershot: Ashgate).Google Scholar
  10. Coopey, Richard (ed.) and Clarke, Donald (1995) 3i: Fifty Years Investing in Industry (Oxford).CrossRefGoogle Scholar
  11. Gompers, Paul (1994) ‘The Rise and Fall of Venture Capital’, Business and Economic History, vol. 23, no. 2, pp. 1–26.Google Scholar
  12. Ingham, Geoffrey (1984) Capitalism Divided? The City and Industry in British Social Development (London: Macmillan).Google Scholar
  13. Kinross, John (1982) Fifty Years in the City: Financing Small Business (London: John Murray).Google Scholar
  14. Kynaston, David (2001) The City of London: A Club No More 1945–2000 (London: Chatto & Windus).Google Scholar
  15. Lamoureaux, Naomi (1991) ‘“No Arbitrary Discretion”: Specialisation in Short-Term Commercial Lending by Banks in Late Nineteenth Century New England’, in Geoffrey Jones (ed.), Banks and Money: International and Comparative Finance in History (London: Frank Cass).Google Scholar
  16. Macmillan Committee (June 1931) Report of the Committee on Finance and Industry, Cmnd 3897 (London: HMSO).Google Scholar
  17. Mowery, David and Rosenberg, Nathan (1989) Technology and the Pursuit of Economic Growth (Cambridge).CrossRefGoogle Scholar
  18. Newton, Lucy (2000) ‘Trust and Virtue in English Banking: The Assessment of Borrowers by Bank Managements at the Turn of the Nineteenth Century’, Financial History Review, vol. 7, Pt. 3, pp. 177–200.CrossRefGoogle Scholar
  19. Norberg, Arthur and O’Neill, Judy (1996) Transforming Computer Technology: Information Processing for the Pentagon, 1962–1986 (Baltimore, MD: Johns Hopkins Press).Google Scholar
  20. Peterson, W.E. (1994) Almost Perfect: How a Bunch of Regular Guys Built WordPerfect Corporation (Rocklin, CA: Prima).Google Scholar
  21. Piore, Michael and Sabel, Charles, (1984) The Second Industrial Divide: Possibilities for Prosperity (New York: Basic Books).Google Scholar
  22. Ross, Duncan (1990) ‘The Clearing Banks and Industry: New Perspectives on the Interwar Years’, in J. van Helten and Y. Cassis (eds), Capitalism in a Mature Economy: Financial Institutions, Capital Exports and British Industry, 1870–1939 (Cheltenhar: Elgar).Google Scholar
  23. Stanworth, John and Gray, Colin (1991) Bolton 20 Years On: The Small Firm in the 1990s (London: Chapman).Google Scholar
  24. Stokes, Winifred (1998) ‘Regional Finance and the Definition of a Financial Region’, in Edward Royle (ed.), Issues of Regional Identity (Manchester: Manchester University Press).Google Scholar
  25. Storper, Michael and Scott, Allan (eds) (1992) Pathways to Industrial and Regional Development (London: Routledge).Google Scholar
  26. Wilson, John and Popp, Andrew (2003) ‘Districts, Networks and Clusters in England’, in John Wilson and Andrew Popp (eds), Industrial Clusters and Regional Business Networks in England 1750–1970 (Aldershot: Ashgate).Google Scholar

Copyright information

© Richard Coopey 2005

Authors and Affiliations

  • Richard Coopey

There are no affiliations available

Personalised recommendations