Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication

dc.contributor.advisorToerien, Francoisen_ZA
dc.contributor.authorCausey, John Pen_ZA
dc.date.accessioned2014-10-17T10:12:54Z
dc.date.available2014-10-17T10:12:54Z
dc.date.issued2014en_ZA
dc.descriptionIncludes bibliographical references.en_ZA
dc.description.abstractThe international syndication of venture capital investments has become an increasingly widespread phenomenon, but there is a lack of research which applies the already limited prior international research in this field1 to South Africa or other African countries. This research aims to begin that discussion, and take the first step in filling that gap of understanding. The main research questions addressed in this study: are local venture capital practitioners ready and willing to syndicate internationally, and what are the constraints to the formation of those transactions? The issues were examined by interviewing high level investment practitioners representing seven of the 21 nongovernmental VC firms belonging to the South African Venture Capital Associated (SAVCA). This data were influenced and shaped by other available sources of primary and secondary data. The results indicate that South African venture capital investors are ready and willing to syndicate internationally, however there are caveats to that broad statement which the ensuing analysis addresses. Additionally, it was found that there are significant and profound constraints to these transactions forming in South Africa. Those constraints are an unsupportive regulatory environment, negative perceptions by the international investor community of South Africa, small domestic deal sizes and the dearth of bankable ventures led by high quality management teams. Options for further research include a study of the attitudes of potential foreign VC professional partners to the option of syndication involving South African VC firms, and a more in depth investigation into the risks and constraints to South Africa-international syndication.en_ZA
dc.identifier.apacitationCausey, J. P. (2014). <i>Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/8563en_ZA
dc.identifier.chicagocitationCausey, John P. <i>"Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2014. http://hdl.handle.net/11427/8563en_ZA
dc.identifier.citationCausey, J. 2014. Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Causey, John P AB - The international syndication of venture capital investments has become an increasingly widespread phenomenon, but there is a lack of research which applies the already limited prior international research in this field1 to South Africa or other African countries. This research aims to begin that discussion, and take the first step in filling that gap of understanding. The main research questions addressed in this study: are local venture capital practitioners ready and willing to syndicate internationally, and what are the constraints to the formation of those transactions? The issues were examined by interviewing high level investment practitioners representing seven of the 21 nongovernmental VC firms belonging to the South African Venture Capital Associated (SAVCA). This data were influenced and shaped by other available sources of primary and secondary data. The results indicate that South African venture capital investors are ready and willing to syndicate internationally, however there are caveats to that broad statement which the ensuing analysis addresses. Additionally, it was found that there are significant and profound constraints to these transactions forming in South Africa. Those constraints are an unsupportive regulatory environment, negative perceptions by the international investor community of South Africa, small domestic deal sizes and the dearth of bankable ventures led by high quality management teams. Options for further research include a study of the attitudes of potential foreign VC professional partners to the option of syndication involving South African VC firms, and a more in depth investigation into the risks and constraints to South Africa-international syndication. DA - 2014 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2014 T1 - Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication TI - Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication UR - http://hdl.handle.net/11427/8563 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/8563
dc.identifier.vancouvercitationCausey JP. Analysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndication. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2014 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/8563en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Finance and Taxen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherFinancial Managementen_ZA
dc.titleAnalysis of South African venture capital practitioners' views on the motivations, benefits and constraints of international syndicationen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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