Download Tango & Cash:
Entrepreneurial Finance and Venture Capital in Argentina

Author:
Luis E. Pereiro

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This paper is the first to empirically map entrepreneurial finance in Argentina, by studying in-depth three different types of actors: entrepreneurs, formal private equity and venture capital (PE/VC) funds, and angel investors. Operational characteristics of these actors are profiled and, whenever possible, systematically compared to U.S., European and Canadian data. Empirical evidence shows that: (a) it takes on average more money for the Argentine entrepreneur to start a de novo venture than for his/her counterparts in the US; (b) operational parameters of formal PE/VC funds are in line with international standards; and (c) Argentine angels invest on average substantially higher amounts per venture than their counterparts in other countries, being also younger than the international average.