deep pre-screening process should be performed before investing in small, start-up business because of the information asymmetries, which in turn are the main cause for adverse selection and moral hazard problems. Well performed initial scan ensures good investment. Seed capital provided than enables the firm’s set off.
But what is more important for the purpose of this paper is the conclusion that “there is much more than just capital that flows from the investor to the organizations in which they invest” (Sætre, 2003, p.85). Indeed, fresh capital inflow is accompanied with the process of value-adding which provides the company with monitoring, skills, expertise, help and, basically, reputation for attracting further finance. Consequently, the role of the venture capital in financing small business is tremendous. Even though findings in the last section show that venture capital funding is related with strengthened control, potential conflict of interests and founder replacement from the top manager’s seat, venture capital remains crucial factor for spurring innovations, enhancing growth opportunities, especially for the small and medium-sized enterprises and therefore, creating new jobs. The latter are enough reasons for every national economy to take care for the venture capital financing as proven chance for the realization of smart ideas.
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