Venture Capital*
Paul Gomperspgompers@hbs.edu Graduate School of Business, Harvard University, Morgan 483, Soldiers Field, Boston, MA 02163, USA
Abstract
Venture capital has emerged as an important intermediary in financial markets, providing capital to young high-technology firms that might have otherwise gone unfunded. Venture capitalists have developed a variety of mechanisms to overcome the problems that emerge at each stage of the investment process. At the same time, the venture capital process is also subject to various pathologies from time to time, which can create problems for investors or entrepreneurs. This handbook chapter reviews the recent empirical literature on these organizations and points out area where further research ...
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