摘要：Venture capital is considered to be the most
appropriate form of financing for innovative firms
in high-tech sectors. We provide an assessment of
venture capital looking at the involvement of venture
capital with some of Europe’s most innovative and
successful companies: those listed on Europe’s ’new’
stock markets. Venture capital is effective in helping
these firms overcome credit constraints but has a
limited effect on their ability to grow and create
jobs. This result clashes with the evidence on the
role of VC for US companies. Yet, VC is not only
about money but also about steering and supporting
portfolio companies, activities which depend on
venture capitalists’ educational and organizational
background as well as on the legal and cultural
environment in which they operate.
