The State of State Venture Capitalism

Peter Eisinger
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Peter Eisinger: University of Wisconsin-Madison

Economic Development Quarterly, 1991, vol. 5, issue 1, 64-76

Abstract: State governments have become increasingly visible players in the venture capital arena, allocating an estimated $192 million in tax, bond, and other revenues and perhaps a billion dollars in pension trust funds to a variety of public and quasi-public venture capital arrangements. This article offers a review of the variety of arrangements at the beginning of the 1990s by attempting a census of such programs, an estimate of their financial dimensions, and some preliminary observations regarding their impact. The review concludes by suggesting that state venture capitalism, though a well-established feature of state economic development strategy, represents a very small commitment of capital compared, for example, to private venture investment. Economic development results tend, therefore, to be modest.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:5:y:1991:i:1:p:64-76

DOI: 10.1177/089124249100500107

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