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Understanding Government Venture Capital: A primer and a taxonomy

Author

Listed:
  • Marius Berger
  • Chiara Criscuolo
  • Antoine Dechezleprêtre

Abstract

Government Venture Capital (GovVC) Funds are a widely used policy tool across OECD countries to promote innovation. This paper introduces a taxonomy that distinguishes between different fund designs and serves as a practical guide for policymakers and researchers engaged in cross-country comparisons. It explores the rationales behind GovVC initiatives, particularly their role in seeding and complementing private venture capital markets. The taxonomy then highlights the various ways private actors can participate in GovVC programs, such as through external fund managers, private sector limited partners, co-investment partners, or experts on supervisory boards.

Suggested Citation

  • Marius Berger & Chiara Criscuolo & Antoine Dechezleprêtre, 2025. "Understanding Government Venture Capital: A primer and a taxonomy," OECD Science, Technology and Industry Working Papers 2025/06, OECD Publishing.
    • Handle: RePEc:oec:stiaaa:2025/06-en
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    More about this item

    Keywords

    Government Policy; Taxonomy; Venture Capital;
    All these keywords.

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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