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Venture capital and entrepreneurial development

Author

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  • Ibanez, Fernan

Abstract

Venture capital is a temporary-equity or quasi-equity investment in a growth-oriented, usually small or medium-size business managed by a highly motivated entrepreneur. Management assistance often comes with the investment. For the investment, the investor expects either a minority share in the company or the irrevocable right to acquire it. The paper notes that venture capital cannot be expected to grow in the developing countries at the same pace as it did in its early years of development in the United States and Canada. But there is no reason to believe that conditions cannot be improved so that it can contribute to industrial and entrepreneurial development in the Third World. Governments can create an enabling climate for venture capital by improving the macroeconomic environment, trying to change attitudes about risk and entrepreneurship, improving information and infrastructure, and providing and promoting the availability of venture capital funds.

Suggested Citation

  • Ibanez, Fernan, 1989. "Venture capital and entrepreneurial development," Policy Research Working Paper Series 53, The World Bank.
    • Handle: RePEc:wbk:wbrwps:53
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    Citations

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    Cited by:

    1. Shqipe Gerguri & Sadudin Ibraimi & Veland Ramadani, 2012. "Development Measures of Institutional Venture Capital in Transition Economies. The case of Macedonia," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(4), pages 387-398, October.
    2. Grahame Boocock, 1995. "Venture Capital in Malaysia: The Role of the Government," Development Policy Review, Overseas Development Institute, vol. 13(4), pages 371-390, December.

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