Harrison, R. T. and Mason, C. M. (2019) Venture Capital 20 years on: reflections on the evolution of a field. Venture Capital, 21(1), pp. 1-34. (doi: 10.1080/13691066.2019.1562627)
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Abstract
This paper reviews the circumstances surrounding the launch of Venture Capital: An International Journal of Entrepreneurial Finance in 1999. It highlights a number of significant changes in the structure of the entrepreneurial finance market over the past 20 years, notably the decline of “classic” venture capital, the effective closure of the small-cap IPO market, the scale-up problem and the emergence of a second equity gap, the geographical dispersion of venture capital and the institutionalisation of the business angel market. A number of new players in the market – coinvestment schemes, equity crowdfunding platforms and blockchain technology-based Initial Coin Offerings – are discussed and the challenges and opportunities they pose for investors, entrepreneurs, policy makers, regulators and academic researchers are assessed. Against this background, a number of key features of the evolution of the content and focus of the Journal are discussed. The paper finishes with a summary of the papers included in this Special Issue.
Item Type: | Articles (Editorial) |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Mason, Professor Colin |
Authors: | Harrison, R. T., and Mason, C. M. |
College/School: | College of Social Sciences > Adam Smith Business School > Management |
Journal Name: | Venture Capital |
Publisher: | Taylor and Francis |
ISSN: | 1369-1066 |
ISSN (Online): | 1464-5343 |
Published Online: | 21 March 2019 |
Copyright Holders: | Copyright © 2019 Informa UK Limited, trading as Taylor and Francis Group |
First Published: | First published in Venture Capital 21(1): 1-34 |
Publisher Policy: | Reproduced in accordance with the publisher copyright policy |
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