, .
XX . Apple Computers, Compaq, Sun Microsystems, Microsoft, Lotus, Intel , . , , , .
, , .. - . .
, , , .
. XX . 60- .
, 1973 . (NVCA). , , (NASDAQ) - ( -) , .
, . 70-80- . XX . (.. ), . . . 4-5 .
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, . , (SBIC), -.
, .. -. - , .. .
, , , . . , , , .
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, . , , . , ( ) .
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, , . , - 1:1, 1:5. , 7,4% 5,7% , - 35% 8,6%, - 8% 4,4%. , , , , .
. 1983 . (EVCA) . , 43 , 500 30 . .
(EASD) - , , . EASD - (EASDAQ). . , , 1996 .
, . . , , . , , , , . , .
. , , , . ( ) 35% . , ( 40%) . : Sitra (), UK High Technology Fund (); , KFW ().
, . , , : 1994 . Suomen Teollisuus-Sijoitus OY. . , , . (GIMV), 1980 ., . - , GIMV. 1995 Beteiligungskapital fur Kleine Technologieunternehmen, , , . , . , 1994 . , , . , , , , . . . Vaekstfonden ( ) , , - . , . , . Almi Foretagspartner AB, 6-10- , .
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. , (BMWI) . , , (BJTU). BJTU (BTU). ERP Kreditanstalt fur Wiederaufbau (KfW), , , .
. (DTI). , DTI 75% . . DTI .
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, , , , , , , , . , , , .
. , .
. 1964-1971-, 1978-1987- 1994-2000 . , , 1975- 1992-. 60- , 70-80- - , 90- - . , , , , .
, , - (13% ). - 76%, - .
1993 , .
:
1. , () .
1993 1994 . 11 (): , , -, , , -, , , , , -.
50 . , 30 . , - . 2001 500 . , 170 . 62 ( 2,8 . ).
, 32 . , , (, ..).
: . , , , . , , . .
, . 10 . . , .
2. . 6 1,26 . ., 430 . . .
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: TUSRIF (The United States Russia Investment Fund) Defense Enterprise Fund ; Investment Fund for Central and Eastern Europe () ; Agribusiness Partners International (OPIC). AIG-Brunswick Russia Partners , , , . .
3. . 20 , 2,2 . . . . . - , .
4. . 1,5%.
, , . 3% 26%.
1998 . 26 , , 1,6 . . , 16 . 1998 . , .
, 2000 35 - 40, 3,7 . . 1994 2001 . 580 . .
.
.
- 2001 .: (Quadriga Capital Russia) , 2,1 , .
2002 . 2002 . red.stars.com Actis Systems , - Southern Russia Regional Venture Fund. 2002 . Delta Capital Management, TUSRIF, Nestle Waters. CIPEF Bravo Holdings Ltd, Heineken, .
1996-2014 . .
. (1996 2014 .)
, , , . . . , .
, , - .
, 2003 . Intel Capital - Intel Corporation, . , hi-tech. Intel Capital ru-Net Holdings 10 . .
2004 . Draper Fisher Jurvetson (DFJ), DFJ Nexus Fund.
, , .
2003 . , , . , - Vostok Nafta Investments Russia Resouces Fund (40 . .), , . - 20 . ., .
() . - , . , 2004 . . 10 . ., , , - , .
, 2003 . 7,5 . . , - .
1996-2014 . .
.
(), 1997 . - (EVCA). 2003 . 18 17 , 1 . ., 133 .
, 90- , 5-6 . , , .
( ) - 2000-2005 , 1999 . - .
2000 . - , . , , . .
2000 . - , , , .
. .
. . 3-4 , , .
. : , - ( , , ) - . . 2006 . . , , . , , . - , , , : - , .
, . , , .
, - . . . 5 , (, -, , , ) 2003 . 75%, . , 20 .
1996-2014 . .
.
, , , . , , , 2003 . , -, , , .
- , , , , . , . , , , , , , , , , , , .
, - , . , 2000 . . , . 2001 2005 .
, - . , .