<title/> The nature and extent of complementarities between the informal and formal venture capital markets has been the subject of limited research. This paper explores systematically the nature and extent of complementarities between the formal and informal venture capital markets in the UK, and...

The existence of an equity gap in the provision of venture capital has prompted a range of initiatives by public sector bodies to stimulate the venture capital market. This paper reviews the rationale for public sponsorship of venture capital and summarizes the four papers which comprise this...

Business angels play a critical role in the creation of an entrepreneurial climate. However, measuring business angel investment activity on either a cross-sectional or time series basis is extremely problematic. This paper reviews various approaches to measuring business angel investment...

<title/> This paper by the editors of Venture Capital has three objectives. First, it outlines the reasons why this is a particularly opportune time to launch a new journal on venture capital. Second, it sets out the aims of Venture Capital. Third, it provides an overview of venture capital research in...

The venture capital industry is widely thought to be in crisis. The huge amount of money that flowed into the industry in recent years has driven down returns. This has had knock-on effects on fund-raising and investment activity. Many commentators believe that the industry needs to downsize....