Entrepreneurial finance • Private equity and venture capital • Institutional asset management
While for decades the venture capital fund model successfully fueled generations of innovative companies, arguably that model doesn't work well anymore. In a damning May 2012 report the Kauffman Foundation reported "VC returns haven't significantly outperformed the public market since the late 1990s, and, since 1997, less cash has been returned to investors than has been invested in VC." This finding is consistent with that of other researchers and investors, but such conclusions do not address what new financing vehicles can better deliver capital to high growth firms and returns to investors.
This research will investigate the possible designs of new investment strategies by convening all three sectors of the growth capital market - entrepreneurs, fund managers and limited partners – to discuss their respective perspectives and the mutual objectives. The participation and support of those actors will be combined with recent and ongoing research on high growth firms in the US and internationally to describe optimized models for growth capital investment mobilization and deployment.