This highly accessible book brings together the insights of leading academics and researchers to promote a better understanding of the role of private equity providers in the development of growth-oriented start-ups and the management of growth processes. The book explores the domain of start-up and business venturing, and within this realm, the perspectives of the entrepreneur, the venture capitalist, the financial community and the role of government in private equity are considered. Specifically, topics discussed include: the venture capital industry; investment in venture capital funds in Europe; the Equity Gap; European private equity funds; the role of private equity in the creation of university spin-out companies; and motivation of entrepreneurs towards private equity operations. Providing theoretical frameworks together with practical conclusions and implications, this book will be warmly welcomed by academics and practitioners alike. It will be of particular value to scholars with an interest in business, management and entrepreneurship, to investment professionals and policy advisors involved in stimulating entrepreneurship, and, of course, to entrepreneurs themselves.
1 Investment in venture capital funds in Europe by Simon Barnes and Vanessa Menzies 3
2 An analysis of the selection behaviour of early-stage high-tech investors in Europe by Bart Clarysse and Mirjam Knockaert and Andy Lockett and Caroline Van Eeckhout 16
3 Private equity investors, corporate governance and professionalization by Christof Beuselinck and Sophie Manigart and Tom Van Cauwenberge 30
4 The impact of capital inflows and management skills on the performance of European private equity funds by Christoph Kaserer and Christian Diller 43
5 Business angels academies : unleashing the potential for business angel investment by Juan Roure and Rudy Aernoudt and Amparo de San Jose Riestra 60
6 The motivation of entrepreneurs toward private equity financing : a laddering approach by Gabriele Morandin and Massimo Bergami and Richard P. Bagozzi 77
7 What factors determine the use of venture capital? : evidence from the Irish software sector by Teresa Hogan and Elaine Hutson 91
8 Cross-border venture captalists' support for the internationalization of new software ventures by Markus M. Makela and Markku V. J. Maula 102
9 Venture capitalists' communication and commitment : a practitioner's perspective by Dirk De Clercq and Vance H. Fried 120
10 Private equity and the development of university spin-out companies by Mike Wright and Andy Lockett 135
11 Dynamics of university spin-out companies : entrepreneurial ventures of technology lifestyle businesses? by Richard T. Harrison and Claire M. Leitch 149
12 Through a glass darkly : new perspectives on the equity gap by Gordon Murray and Dimo Dimov 161
13 Innovation, technology transfer and the equity gap : a European Perspective by Tom Schamp 175
