Has Europe Been Catching Up? An Industry Level Analysis of Venture Capital Success Over 1985–2009

27 Pages Posted: 12 Dec 2013

See all articles by Roman Kräussl

Roman Kräussl

Luxembourg School of Finance; Hoover Institution, Stanford University

Stefan Krause

Banque de France - Economic Study and Research Division; Sciences Po

Date Written: January 2014

Abstract

After nearly two decades of US leadership during the 1980s and 1990s, are Europe's venture capital (VC) markets in the 2000s finally catching up regarding the provision of financing and successful exits, or is the performance gap as wide as ever? Are we amid an overall VC performance slump with no encouraging news? We attempt to answer these questions by tracking over 40,000 VC‐backed firms stemming from six industries in 13 European countries and the USA between 1985 and 2009; determining the type of exit – if any – each particular firm's investors choose for the venture.

Keywords: venture capital, private equity, entrepreneurial activity, performance gap

Suggested Citation

Kraeussl, Roman and Krause, Stefan, Has Europe Been Catching Up? An Industry Level Analysis of Venture Capital Success Over 1985–2009 (January 2014). European Financial Management, Vol. 20, Issue 1, pp. 179-205, 2014, Available at SSRN: https://ssrn.com/abstract=2366591 or http://dx.doi.org/10.1111/j.1468-036X.2013.12012.x

Roman Kraeussl (Contact Author)

Luxembourg School of Finance ( email )

4, rue Albert Borschette
Luxembourg, 1246
Luxembourg
+3524666445442 (Phone)

HOME PAGE: http://www.art-finance.com

Hoover Institution, Stanford University ( email )

Stanford, CA 94305
United States

Stefan Krause

Banque de France - Economic Study and Research Division ( email )

31, rue Croix des Petits Champs
75049 Paris Cedex 01
FRANCE

Sciences Po ( email )

27 rue Saint-Guillaume
Paris Cedex 07, 75337
France

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