Limited Partners' Perceptions of the Central Eastern European Venture Capital and Private Equity Market

Posted: 22 May 2019

See all articles by Alexander Peter Groh

Alexander Peter Groh

EMLYON Business School

Heinrich Liechtenstein

University of Navarra - IESE Business School

Miguel Angel Canela

University of Barcelona - Faculty of Mathematics

Multiple version iconThere are 2 versions of this paper

Date Written: August 1, 2009

Abstract

Growth expectations and institutional settings in Central Eastern Europe are assumed favorable for the establishment of vibrant Venture Capital and Private Equity markets. However, there is only a little risk capital market activity in the region. We examine the obstacles to institutional investments in Central Eastern Europe through a questionnaire addressed to Limited Partners world-wide. The respondents provide information about their perceptions of the region. The protection of property rights is the dominant concern, followed by social criteria, such as the belief in the entrepreneurial management quality of local people, and the lacking size and liquidity of the Central Eastern European capital markets. However, Limited Partners appreciate the growth expectations and the deal opportunities, and rank the region as attractive as India, and China.

Keywords: Venture Capital, Private Equity, CEE, International Asset Allocation, Institutional Investors

JEL Classification: F3, G23, G24, P2

Suggested Citation

Groh, Alexander Peter and Liechtenstein, Heinrich and Canela, Miguel Angel, Limited Partners' Perceptions of the Central Eastern European Venture Capital and Private Equity Market (August 1, 2009). IESE Business School Working Paper No. 727. Available at SSRN: https://ssrn.com/abstract=1058301 or http://dx.doi.org/10.2139/ssrn.1058301

Alexander Peter Groh (Contact Author)

EMLYON Business School ( email )

23 Avenue Guy de Collongue
Ecully, 69132
France

Heinrich Liechtenstein

University of Navarra - IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

Miguel Angel Canela

University of Barcelona - Faculty of Mathematics ( email )

Barcelona, 08007
Spain

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