Title Hybrid venture capital funds in Lithuania: motives, factors and present state of development /
Translation of Title Mišrūs rizikos kapitalo fondai Lietuvoje: motyvai, veiksniai ir esama plėtojimosi stadija.
Authors Snieska, Vytautas ; Venckuviene, Vitalija
DOI 10.5755/j01.ee.22.2.312
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Is Part of Inžinerinė ekonomika = Engineering economics.. Kaunas : Technologija. 2011, vol. 22, iss. 2, p. 157-164.. ISSN 1392-2785. eISSN 2029-5839
Keywords [eng] hybrid venture capital fund ; small and medium sized enterprises ; European Union support ; JEREMIE initiative
Abstract [eng] Substantial body of academic literature agree that the financial constrain is the core problem in developing early stage small and medium sized enterprises (SMEs). Therefore, venture capital through financing and providing value added services is considered to be an effective tool in increasing regions innovation capacity, fostering economic growth as well as job creation. Thus, financing such promising young ventures, especially those with technological background, is encouraged in many countries through various Governments’ initiatives. A wide range of research explores public programmes in enhancing venture capital markets development in various countries either through direct (when Government invest directly in fund) or indirect (for instance, tax relief, etc.) measures. Therefore the present paper focuses on the direct Government intervention in venture capital market development, through investing in venture capital funds (as the co-investor or limited partner) in order to facilitate SMEs through financing its early stage of development. Venture capital funds, pooled by Governments’ sources, private and institutional investors, aiming to boost investments in early stage innovative companies, are considered as hybrid venture capital funds in this paper. [...].
Published Kaunas : Technologija
Type Journal article
Language English
Publication date 2011
CC license CC license description