Private Equity and Venture Capital: a Study for the Case of High Technology Industries in Brazil.
Name: DANIEL MALDONADO MACHADO MARTINS
Publication date: 04/10/2016
Advisor:
Name |
Role |
|---|---|
| ROGÉRIO ARTHMAR | Advisor * |
Examining board:
| Name |
Role |
|---|---|
| DANILO SOARES MONTE-MOR | External Examiner * |
| ROBSON ANTONIO GRASSI | Internal Examiner * |
| ROGÉRIO ARTHMAR | Advisor * |
Summary: The Private Equity and Venture Capital (PE/VC) industry by presenting itself as an alternative financing of high-tech companies with innovative potential has the ability to complement the financial system. But not only: it is suggested that the entrepreneur capital investment funds approach the economic actor feature for innovation, integrating a systemic approach, which, at national level, is defined by the terminology of the National Innovation System (NIS). In this thesis, we analyze the role of PE/VC funds in compliance with government policies for innovation and high technology in Brazil. Therefore, we present the main concepts and definitions related to PE/VC funds and the industry as a whole and in light of the specificities of the Brazilian model with a current analysis, including on the regulatory framework of the activity in the country. We will examine the theories of traditional finance and its applicability in the scope of action of the PE/VC industry to maximize the returns adjusted to business risks. Moreover, we find the PE/VC industry by the optical of financial intermediaries, industry investment cycle and how it establishes the supply- demand relationships and investments. Finally, we will reflect on the evolution of the concept of innovation, highlighting interpretations, about the innovative dynamics and the instruments for promotion of public policies to stimulate innovation, seeking a theoretical contribution to the integration of investment fund managers of venture capital in the national system Brazilian innovation.
