Purpose - Private equity and venture capital (VC) firms in the capital markets sector invest capital with the primary goal of delivering economic value. However, some firms in the capital markets sector have started to shift this focus to create (i.e. invest in) social value. More specifically,...

Despite recognition of the importance of facilitative environments to promote new ventures and the corresponding efforts of many governments to provide the necessary infrastructure to fuel growth in entrepreneurship, our understanding of the relationship between the new venture and the state is...