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Venture Capital in Europe's Common Market: A Quantitative Description

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  • Schertler, Andrea

Abstract

This paper offers a quantitative description of European private equity markets and compares the recent development in these markets with the development of the US venture capital market. Moreover, the paper addresses the differences between private equity investors acting in a single national market by analysing micro data on French and German private equity investors. European markets for private equity have experienced substantial growth at the end of the 1990s and so has the US venture capital market. However, in Europe, private equity investments in enterprises' early and expansion stages as well as in high-technology enterprises are, relative to GDP, significantly lower than in the US.

Suggested Citation

  • Schertler, Andrea, 2001. "Venture Capital in Europe's Common Market: A Quantitative Description," Kiel Working Papers 1087, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:1087
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    References listed on IDEAS

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    Cited by:

    1. Balboa, Marina & Marti, Jose, 2007. "Factors that determine the reputation of private equity managers in developing markets," Journal of Business Venturing, Elsevier, vol. 22(4), pages 453-480, July.
    2. Stolpe, Michael, 2004. "Europe's entry into the venture capital business: efficiency and policy," Kiel Working Papers 1223, Kiel Institute for the World Economy (IfW Kiel).
    3. Schertler, Andrea, 2002. "Under what conditions do venture capital markets emerge," Kiel Working Papers 1119, Kiel Institute for the World Economy (IfW Kiel).
    4. Achleitner, Ann-Kristin & Braun, Reiner & Bender, Marko & Geidner, Annabell, 2008. "Community development venture capital: concept and status quo in Germany," CEFS Working Paper Series 2008-03, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS).
    5. Michael Peneder & Robert Wieser, 2002. "Der österreichische Markt für Private Equity und Venture Capital 2001. Ergebnisse einer Unternehmensbefragung," WIFO Monatsberichte (monthly reports), WIFO, vol. 75(10), pages 661-667, October.
    6. Sunil Mani & Anthony Bartzokas, 2004. "Institutional support for investment in new technologies: the role of venture capital institutions in developing countries," Chapters, in: Anthony Bartzokas & Sunil Mani (ed.), Financial Systems, Corporate Investment in Innovation, and Venture Capital, chapter 6, Edward Elgar Publishing.
    7. Massimo Colombo & Luca Grilli, 2007. "Funding Gaps? Access To Bank Loans By High-Tech Start-Ups," Small Business Economics, Springer, vol. 29(1), pages 25-46, June.
    8. José Martí Pellón & Marina Balboa, 2003. "Characterisation Of The Reputation Of Private Equity Managers: Evidence In Spain," Working Papers. Serie EC 2003-16, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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    More about this item

    Keywords

    venture capital; private equity; Europe; United States;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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