Venture Capital Comes of Age in Europe

Unlike in the U.S., venture capital on the other side of the Atlantic is a relatively young industry. It had an inglorious and stuttering start in the 1980s, often as an extension of the activities of conventional banks or as a limited part of fund managers’ remits. The first Gulf War and 1990 recession were among several setbacks, even before the promise of the first Internet boom culminated in the dot-com bust. This left many investors bruised—and venture capital out of favor in Europe.

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