Understanding Government Venture Capital: A primer and a taxonomy

Marius Berger, Chiara Criscuolo and Antoine Dechezleprêtre

No 2025/06, OECD Science, Technology and Industry Working Papers from OECD Publishing

Abstract: Government Venture Capital (GovVC) Funds are a widely used policy tool across OECD countries to promote innovation. This paper introduces a taxonomy that distinguishes between different fund designs and serves as a practical guide for policymakers and researchers engaged in cross-country comparisons. It explores the rationales behind GovVC initiatives, particularly their role in seeding and complementing private venture capital markets. The taxonomy then highlights the various ways private actors can participate in GovVC programs, such as through external fund managers, private sector limited partners, co-investment partners, or experts on supervisory boards.

Keywords: Government Policy; Taxonomy; Venture Capital (search for similar items in EconPapers)
JEL-codes: G24 O31 O38 (search for similar items in EconPapers)
Date: 2025-04-21
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Persistent link: https://EconPapers.repec.org/RePEc:oec:stiaaa:2025/06-en

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