2008•The New Palgrave Dictionary of EconomicsRequires access
venture capital
Josh Lerner
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Abstract
Venture capital is independently managed, dedicated capital focusing on equity or equity-linked investments in privately held, high-growth companies. Research into venture capital has focused on the structure and financing of venture partnerships, the financial and operational interactions of venture capitalists with portfolio firms, and the exiting of venture capital investments. Major areas needed further research include the internationalization of venture capital, the impact of public policy, and the real economic effects of these funds.