Patterns in Spatial Distribution of Venture Capital and Private Equity Investments in Brazil

gilberto Gilberto sarfati, Marcus Salusse


The study examines patterns in spatial distribution between venture capital and private equity investors and investees in Brazil. A survey was conducted using the geographic location data of venture capital and private equity fund managers and investee companies who were part of the Second PE/VC Census (ABDI & FGV, 2011). The database contained 144 PE/VC fund managers and 481 investee companies by the year 2010. Distances between managers and investees of 63% of the database or 50% of the total number of firms in the Brazilian PE/VC industry were randomly obtained and analysed. Results indicate regional equity gaps and inequality of the spatial distribution of the Venture Capital industry in Brazil


regional equity gap; venture capital and private equity

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