Investicijski kriteriji rizičnog kapitala - analiza na odabranim fondovima rizičnog kapitala

• Main Author: Lisica, Antonio
• Other Authors: Šimić Šarić, Marija
• Format: Master Thesis
• Language: Croatian
• Published: Sveučilište u Splitu. Ekonomski fakultet. 2023
• Subjects: private equity; venture capital; investicijski proces; investicijski kriteriji; investment process; investment criteria; DRUŠTVENE ZNANOSTI. Ekonomija. Financije; SOCIAL SCIENCES. Economics. Finance; sami
• Online Access: https://repozitorij.svkst.unist.hr/islandora/object/efst:5394; https://urn.nsk.hr/urn:nbn:hr:124:330774; https://repozitorij.svkst.unist.hr/islandora/object/efst:5394/datastream/PDF

Rizični kapital predstavlja ulaganja društava za upravljanje fondovima u male, srednje i velike kompanije koje nisu u mogućnosti financirati svoje poslovanje tradicionalnim načinima financiranja. Razlikuju se private equity i venture capital fondovi rizičnog kapitala, a oni vrše svoja ulaganja putem growth capitala, leveraged buyout i mezzanine financiranja. Investicijski proces fondova rizičnog kapitala se sastoji od nekoliko faza: preliminarna analiza, dubinsko snimanje, zaključenje pregovora, nadzor/upravljanje, izlazak. Uz investicijski proces, poduzetnici moraju biti upoznati i s investicijskim kriterijima koje fondovi koriste prilikom donošenja odluke o ulaganju. Pregledom literature te analizom odabranih fondova utvrđeno je da su najvažniji kriteriji vezani uz poduzetnika odnosno menadžment. Također, utvrđeno je da se odabir ciljane tvrtke ne zasniva samo na kriterijima koji se odnose na sami pothvat već se odabir temelji i na unaprijed određenim preferencijama ili strategijama fondova. Venture capital represents investments made by fund management companies into small, medium, and large companies that are unable to finance their operations through traditional funding methods. There are two types of venture capital funds: private equity and venture capital funds. They make their investments through growth capital, leveraged buyouts, and mezzanine financing. The investment process of venture capital funds consists of several stages: preliminary analysis, due dilligence, negotiation, monitoring/management, and exit. In addition to the investment process, entrepreneurs need to be familiar with the investment criteria used by funds when making investment decisions. Through a review of literature and analysis of selected funds, it has been determined that the most important criteria are related to the entrepreneur or management. It has also been argued that the selection of ventures is not entirely based on criteria related to the venture itself but also on predetermined preferences or strategies of the ...