TY - JOUR

AB - Purpose The paper aims to increase the understanding of the venture capital
industry in Central and Eastern Europe (CEE) by examining the venture capital
industry in Hungary, Poland, the Czech Republic, and Slovakia between 1998 and
2003. Even though the number of academic studies focusing on the venture capital
activities in the CEE region has been increasing in recent years, the coverage of
this industry is relatively weak and not well understood by individuals,
businesses, and academics. Design/methodology/approach The study focuses on the
analysis of secondary data available from the European Venture Capital Association
on venture capital activities in the CEE region. The paper examines three key
statistics that best describe the venture capital process, namely fundraising,
investing, and exiting activities. Findings The study has three conclusions. First,
venture capital financing continues to be a major source of capital to the
developing firms in the region. Second, Poland is the market leader in the region
in the venture capital activities as described by key statistics. Third, the
countries of CEE cannot be treated as a homogeneous block. Originality/value The
study is important for two reasons. First, the study focuses on longitudinal data
between 1998 and 2003, the most important period in the development of the
industry. Shifts in trends in these key statistics can only be observed by
analyzing longer‐term data series. Second, the evolution of the venture capital
industry in the analyzed countries could be used as a blueprint for venture capital
development in other countries in the region.
VL - 1
IS - 2
SN - 1746-8809
DO - 10.1108/17468800610658325
UR - https://doi.org/10.1108/17468800610658325
AU - Klonowski, Darek
PY - 2006
Y1 - 2006/01/01
TI - Venture capital as a method of financing enterprise development in Central
and Eastern Europe
T2 - International Journal of Emerging Markets
PB - Emerald Group Publishing Limited
SP - 165
EP - 175
Y2 - 2021/07/18
ER -