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Determinants of private equity fundraising in Western Europe

What are the main factors that affect private equity fundraising in countries where there is little information about final returns? Jose Marti, University Complutense of Madrid and Marina Balboa, University of Alicante, attempt to answer this question.

Unlike previous literature on the topic, this report explains fund-raising in terms of variables that are directly related to the venture capital process rather than in terms of macroeconomic factors. The study surveys panel data from all of the European Union countries, plus Norway and Switzerland, and considers how new venture capitalists in these countries overcome their lack of track record.    

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Copyright © 2001 Jose Marti / Marina Balboa  

Jose Marti is professor of financial management at the University Complutense of Madrid. This paper is also available on www.webcapitalriesgo.com - the Spanish private equity and venture capital site, run by Professor Marti.

Marina Balboa is from the Departamento de Economia Financiera at the University of Alicante.