A financial activity whose main objective is to take temporary, medium or long-term stakes in the capital of non-listed companies to favor their birth, growth, or expansion. Venture capital provides the company, in addition to its own resources, support and participation in business management. The ultimate goal is to obtain a return on investment through capital gains when the business participation is sold. In Spain, the term venture capital encompasses all investment phases, from the initial (seed and start-up), to expansion capital or leveraged operations (buyouts). That is, it includes what other countries call venture capital (investment in initial stages) and private equity (investment in consolidated phases).
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