The Role of the Venture Capital Funds and Private Equity Funds in the financing of Small and Medium-sized Enterprises in Croatia in the period 2021-2025

master's thesis

• Title (croatian): Uloga Fondova rizičnog kapitala u financiranju malih i srednjih poduzeća u Republici Hrvatskoj u periodu 2021.-2025.
• Author: Emanuel Pelajić
• Mentor: Mislav Ante Omazić (mentor)
• Committee member: Domagoj Hruška (predsjednik povjerenstva)
• Committee member: Maja Mihelja Žaja (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Organization and Management); Zagreb
• Defense date and country: 2023-10-07, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Organization and Management

Abstract

The early stages of Small and Medium-sized enterprises funded by Venture capital funds (VC) and Private equity funds (PE) can be a significant driver of economic growth. This thesis aims to explore how VC and PE funds affect SMEs by conducting primary research on the role of VC and PE funds in financing SMEs in Croatia from 2021 to 2025. Risk capital financing offers a range of advantages and limitations for small and medium-sized enterprises, depending on their stage of development and funding needs. By understanding the different types and sources of risk capital, entrepreneurs can make informed decisions about their financing options and position themselves for long-term success. The research methodology involved structured interviews with five VC and PE funds operating in Croatia. Still, the whole concept of the paper also examines the outlook on VC and PE funding in Europe and the attractiveness of the countries in VC and PE investments. The thesis examines the industries that are primarily invested in, disruptive technology preferences and examples of SMEs funded by VC and PE, stages of the company invested in, the average size of investments, average return on investments, and outlook for the future of VC/PE investments etc. The findings of this research will provide insights into the potential of VC and PE funds to support the growth and development of SMEs in Croatia.

Abstract (croatian)

Rane faze malih i srednjih poduzeća koje financiraju fondovi rizičnog kapitala (VC i PE fondovi) mogu biti značajan pokretač gospodarskog rasta. Ovaj diplomski rad putem primarnog istraživanja provedenog metodologijom strukturiranog intervjua istražuje kako VC i PE fondovi utječu na rast i razvoj malih i srednjih poduzeća u Hrvatskoj te kakve su perspektive financiranja malih i srednjih poduzeća u Hrvatskoj u razdoblju od 2021. do 2025. godine od strane VC i PE fondova. Financiranje rizičnim kapitalom nudi niz prednosti i ograničenja za mala i srednja poduzeća, ovisno o njihovom stupnju razvoja i potrebama za financiranjem. Razumijevanjem različitih vrsta i izvora rizičnog kapitala, poduzetnici mogu donositi kvalitetnije odluke o mogućnostima financiranja i postaviti se adekvatno da bi osigurali dugoročni poslovni uspjeh. Metodologija istraživanja uključivala je strukturirane intervjue s pet VC i PE fondova koji djeluju u Republici Hrvatskoj, ali cijeli koncept rada također propituje izglede za financiranje malih i srednjih poduzeća u Europi putem VC i PE fondova te privlačnost zemalja u privlačenju ulaganja VC i PE fondova. Diplomski rad istražuje industrijske sektore u koje VC i PE fondovi najviše ulažu, propituje njihove preferencije ulaganja u inovativne tehnologije koje mijenjaju poslovne modele (disruptivne tehnologije), daje primjere malih i srednjih poduzeća financiranih od strane VC i PE fondova, istražuje u kojim se razvojnim fazama nalaze tvrtke u koje ulažu VC i PE fondovi, koja je prosječnu visina ulaganja, koji je prosječni povrat na ulaganja, koje su perspektive ulaganja VC i PE fondova u budućnosti i sl. Podaci dobiveni ovim istraživanjem te izneseni zaključci zasigurno pružaju kvalificirani uvid u potencijale VC i PE fondova u potpori rastu i razvoju malih i srednjih poduzeća u Hrvatskoj, u razdoblju od 2021. do 2025. godine.

• Keywords: risk capital; venture capital funds; private equity funds; small and medium-sized enterprises; financing
• Keywords (croatian): rizični kapital; VC fondovi; PE fondovi; mala i srednja poduzeća; financiranje
• Language: english
• URN:NBN: urn:nbn:hr:148:974467
• Study programme: Title: Business economics; specializations in: Marketing in english, Managerial informatics, Management, Marketing, Trade and international business, Leadership; Course: Management; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2023-07-11 08:10:47