Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK
The authors compare sources of funds and investment activities of venture capital (VC) funds in Germany, Israel, Japan and the UK using a newly constructed data set. They find that sources of VC funds differ significantly across countries. For example, banks are particularly important in Germany, corporations in Israel, insurance companies in Japan, and pension funds in the UK.
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Available for purchase at: http://www.nber.org/papers/w9645