The ‘New’ Venture Capital Cycle and the Role of Governments: The Emergence of Collaborative Funding Models and Platforms
Lex Research Topics in Corporate Law & Economics Working Paper No. 2013-7
39 Pages Posted: 22 Nov 2013 Last revised: 2 Nov 2014
Date Written: November 20, 2013
This paper examines recent trends in venture capital fundraising and investments. We find that the emergence of ‘new’ types of investors, such as crowdfunding platforms, super-angels and corporations, during this period may explain the changes in the venture capital model. Importantly, the new investment pattern emerges as a result of the increasing collaboration between new entrants, venture capitalists and partner industries. Our findings suggest that governments should take these trends and developments into account when deciding on how best to stimulate business growth and innovation.
Keywords: AngelList, corporate venture capital, crowdfunding, entrepreneurship, funding gap, government venture capital, innovation, IPOs, liquidity gap, super-angels, venture capital
JEL Classification: G01, G24, G32, K20, K22, L22, L26
Suggested Citation: Suggested Citation