Investimentos venture capital em startups: quais os critérios utilizados?

Abstract

Venture Capital has a prominent role in the innovation scenario, supporting and financing the evolution of startups through the size of resources. Brazil, stands out in America in relation to innovation and large volume of sports received in recent years, and with the perspective of growth, however it is below more developed developed countries. Therefore, it is necessary to improve investment decision-making strategies, so that the criteria are efficient. In this, this objective work is analyzed how it will determine the decision of specialists in the context of Venture Capital to contribute their resources. To this end, a survey was carried out with 14 experts, with data collection carried out through an internet delivery. And for the analysis of the data, the characterization of the respondents, detection of outliers, analysis of the relevance attributed to the investment decision criteria, analysis of agreement and, finally, a comparison between the results of the Systematic Literature Review and the survey. There were a total of 121 criteria, 51 subcategories and 7 categories. From the comparison of practical and theoretical results, it was found that the category entrepreneur characteristics is the most relevant, corroborating other works identified in RSL, where human capital is the highlight; reinforcing the importance of the development of these characteristics by educational systems. As for the other categories, despite appearing in a different order, the dispersion between the values is low. This dissertation contributes in a way to boost the development of venture capital ecosystems in Brazil, making more startups obtain capital contributions through the criteria presented here. It also contributes to the global literature on this topic.