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Journey Through Time: A Comprehensive History of Venture Capital

goingvc.com · 3,286 words · saved by 1 readers

enture capital, a term that is often unanimous with startups, has become a critical component of the entrepreneurial ecosystem. It’s not only for the finance folks anymore, it seems that everybody and their uncle wants to get into VC or work at a startup. Since 1974, 42% of companies that have undergone initial public offerings (IPOs) have had venture backing. But how did venture capital become a “thing?” How has it evolved over time? Let’s take a look at the history of venture capital. The origins of VC are debatable, but some say it goes as far back as when Christopher Columbus got sponsored by Queen Isabella of Spain to voyage to the Americas (after many other monarchs turned him down). In return for funding his high-risk venture, she got 90% of the profits after he accidentally discovered the West Indies and propelled Spain into a Golden Era of exploration. In fact, the term “carried interest” comes from that time, as noted by Andrew Powell. “As exploration continued to Asia and th

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