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Right-sizing the US venture capital industry-super-†

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  • Paul Kedrosky

Abstract

There is reason to believe that the venture capital industry, at least in the USA, will be differently sized and structured in the future. Its investment performance has deteriorated following the dot.com crash. This is attributed to the maturing of its main investment sectors, the emergence of new sectors that are less competitive and a decline in IPOs. In the face of these trends -- declining returns and reduced investment opportunities -- the venture capital industry needs to downsize, perhaps by as much as half, for it to resume its position as both a credible asset class and a significant force for economic development.

Suggested Citation

  • Paul Kedrosky, 2009. "Right-sizing the US venture capital industry-super-†," Venture Capital, Taylor & Francis Journals, vol. 11(4), pages 287-293, June.
    • Handle: RePEc:taf:veecee:v:11:y:2009:i:4:p:287-293
    DOI: 10.1080/13691060903190255
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    Cited by:

    1. Steven N. Kaplan & Josh Lerner, 2010. "It Ain't Broke: The Past, Present, and Future of Venture Capital," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(2), pages 36-47, April.
    2. Suret, Jean-Marc, 2010. "Le financement des entreprises en démarrage et en croissance : le point de la situation," L'Actualité Economique, Société Canadienne de Science Economique, vol. 86(3), pages 385-411, septembre.
    3. Colin Mason & Hans Landström, 2012. "Introduction," Chapters, in: Hans Landström & Colin Mason (ed.), Handbook of Research on Venture Capital: Volume 2, chapter 1, pages iii-iii, Edward Elgar Publishing.
    4. Henry Lahr & Andrea Mina, 2014. "Liquidity, Technological Opportunities, and the Stage Distribution of Venture Capital Investments," Financial Management, Financial Management Association International, vol. 43(2), pages 291-325, June.

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