Banks, McRae C.
The current and potential contribution of venture capital to the Russian economy is examined. A process model of venture capital in the U.S. was developed from the literature. Interviews conducted in Moscow and St. Petersburg in early 1999 provided data to compare venture capital in Russia versus the U.S., resulting in a new model. Key differences included limited exit strategies, a collapsed banking system, an unsupportive government, limited start-up financing, and the nearly non-existent investments in high-tech industries.
Worcester Polytechnic Institute
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