{"id":53259,"date":"2022-02-11T11:01:21","date_gmt":"2022-02-11T10:01:21","guid":{"rendered":"https:\/\/techma.bakertilly.es\/?post_type=diccionario&#038;p=53259"},"modified":"2024-06-21T10:51:37","modified_gmt":"2024-06-21T08:51:37","slug":"private-equity-vs-venture-capital-ss-a2","status":"publish","type":"diccionario","link":"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/","title":{"rendered":"Private Equity vs Venture Capital \u2013 5 differences"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Contents\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Intro\" >Intro<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Las_5_diferencias_entre_un_capital_riesgo_y_un_Venture_Capital\" >The 5 differences between Private Equity and Venture Capital<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Fase_de_inversion\" >Investment stage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Volumen_de_inversion\" >Investment volume<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Riesgo_y_rentabilidad_de_inversion\" >Investment risk and return<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Nivel_de_participacion\" >Level of participation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Horizonte_temporal_de_la_inversion\" >Time horizon of the investment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Ejemplos_de_Capital_Riesgo_y_de_Venture_Capital\" >Examples of Venture Capital and Venture Capital:<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Ejemplos_de_capital_Riesgo\" >Examples of venture capital:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/private-equity-vs-venture-capital\/#Ejemplos_de_Venture_Capital\" >Examples of Venture Capital:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Intro\"><\/span>Intro<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When you set yourself the goal of selling your company in the optimal way, one of the challenges you will have to address is to identify those investors who may have more interest in your company and therefore can put a higher price on the table. To help you in this task, in a previous article we explained the differences between a strategic partner and a financial partner and under what circumstances one or the other is suitable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The most relevant and active financial investors are <a href=\"https:\/\/techma.bakertilly.es\/en\/how-to\/what-is-private-equity-ss-a2\/\" data-type=\"URL\" data-id=\"https:\/\/techma.bakertilly.es\/diccionario\/que-es-el-capital-riesgo-ss-a2\/\">private equity<\/a> and <a href=\"https:\/\/techma.bakertilly.es\/en\/how-to\/what-is-a-venture-capital-ss-a2\/\" data-type=\"URL\" data-id=\"https:\/\/techma.bakertilly.es\/diccionario\/que-es-un-venture-capital-ss-a2\/\">venture capital<\/a> , which we have explained individually in detail above. Here we will summarise the main differences between the two. Private equity vs Venture Capital. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Las_5_diferencias_entre_un_capital_riesgo_y_un_Venture_Capital\"><\/span>The 5 differences between Private Equity and Venture Capital<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before talking about their differences, we can highlight their similarities. Both Private Equity and Venture Capital work in a very similar way:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>They raise capital from so-called <em>limited<\/em> <em>partners<\/em> to invest in private companies.<\/li><li>Their main objective is the same for both: to increase the value of the companies they invest in during the time they are invested in and then sell them at a higher price.<\/li><li>They are temporary investors, so sooner or later they have to divest from the company.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of the differences they have, we divide them into several aspects:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The stage of development of the companies in which it invests<\/li><li>The level of participation they acquire<\/li><li>The time horizon of your investment<\/li><li>The volume of investment<\/li><li>Investment risk and return<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-1024x590.png\" alt=\"private equity vs venture capital\" class=\"wp-image-53253\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-1024x590.png 1024w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-300x173.png 300w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-768x442.png 768w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-1536x884.png 1536w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-2048x1179.png 2048w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/02\/grafica-PEvsVCvsSeed-18x10.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Angel\/Seed investor vs Private Equity vs Venture Capital<\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fase_de_inversion\"><\/span>Investment stage<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Here we find one of the first important differences, the stage at which the companies in which these two forms of financing a business are invested are at:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The <strong>Venture Capital<\/strong> usually enters into the capital of a company at <strong>an earlier stage<\/strong>, when it is usually not yet profitable, but is considered to have great growth potential. This also means that Venture Capital, in addition to providing capital, usually provides a lot of know-how to the start-up company that is still in the early stages (Pre-seed, Seed, Early Stage).<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>In contrast, <strong>Private Equity<\/strong> enters into the capital of <strong>more nature, established companies. <\/strong>They may be in growth stages or already consolidated, but Private Equity expects to add more value during the time it invests in the business.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Volumen_de_inversion\"><\/span>Investment volume<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The stage at which a company is invested in will determine the amount of investment required:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>At an <strong>early stage<\/strong> of a business, <strong>large amounts of money are usually not necessary.<\/strong>Therefore, when investing in the phases, <strong>Venture Capital<\/strong> usually invests between <strong>\u20ac100k and \u20ac10M<\/strong> in each startup in which it participates. The volume usually increases with each new round. If the startup reaches milestones in its business plan, the investor perceives less risk and consequently increases its investment. Therefore, earlier stages, more risk and smaller round size, and vice versa.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>The <strong>Private Equity <\/strong>on the other hand, invests from <strong>10M\u20ac to 100M\u20ac<\/strong> in a single company. The effort is concentrated in fewer, larger companies. The level of diversification is typically between 10-15 companies per fund. Private equity needs to find a balance between diversifying risk and not losing focus on its management capacity and support to investees.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Riesgo_y_rentabilidad_de_inversion\"><\/span>Investment risk and return<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The risk taken and the return expected or required from an investment are closely related. The more risk any fund takes in a single company, the more return it expects to get from taking that risk. Risk obviously has to do with how confident one can be that the business model will work:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A start-up that is still in its infancy and is trying to bring an innovative product to market is an unsafe investment: the market volume, level of competitiveness, profitability, etc. are not known. Therefore, the risk that <strong>Venture Capital<\/strong> tends to assume when investing in a company in its early stages is greater than that of Private Equity. As a result, the return demanded when selling its stake is also higher. It is common for only 15% of startups to survive over time.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>On the other hand, the risk assumed by Private Equity when investing in an established company with many years of experience is much lower than that assumed by Venture Capital when investing in a start-up. The average annual return that is usually achieved is around 15% of what is invested.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nivel_de_participacion\"><\/span>Level of participation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The level of participation normally implies a capacity to control during the management period and for divestment:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A <strong>Private Equity<\/strong> fund typically acquires a <strong>majority<\/strong>, often 100%, stake in mature companies or traditional industries that present an opportunity for growth. This growth plan can be generated in a variety of ways: management improvement, acquisition of competitors or complementary companies, internationalisation, ..... Venture capital in its value creation form requires a greater capacity for corporate control. In divestment, it also requires the ability to sell 100%.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>In contrast, <strong>Venture Capital<\/strong> usually acquires <strong>minority stakes<\/strong> in early-stage companies that primarily need the capital injection to start production or marketing of their products or to accelerate the growth of a well-defined business project. Venture Capital at the time of exit does not need to drag the management team into a sale because the new investor will want its shareholding in the next growth phase.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In particular, in the case of private equity, the level of participation is changing when it comes to buying, and there is an opening to invest through minorities. Often this happens at the moment when they buy a VC's stake.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Horizonte_temporal_de_la_inversion\"><\/span>Time horizon of the investment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This aspect refers to the time between the input and output of the inverter:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Venture Capital tends to have somewhat shorter investment durations than Private Equity, usually between 3 and 5 years.<\/li><li>For Private Equity the durations are slightly longer, between 4 and 7 years.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">As with everything else, this is not a written rule, but the experience of what we have observed in the market. Thus, it is also possible that in some cases it may deviate from what has been described above.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ejemplos_de_Capital_Riesgo_y_de_Venture_Capital\"><\/span>Examples of Venture Capital and Venture Capital:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We indicate some examples of each type so that you can have some references:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ejemplos_de_capital_Riesgo\"><\/span>Examples of venture capital:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.provequity.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Providence equity partners<\/strong><\/a>&nbsp;based in Boston (USA) is one of the pioneers of <strong>private equity<\/strong> firms specialising in specific sectors with international coverage, in its case in software and education in North America and Europe. Some of its current investees are&nbsp;<a href=\"https:\/\/techma.bakertilly.es\/en\/baker-tilly-asesora-a-imaweb-en-su-venta-a-providence\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Imaweb<\/strong><\/a>, Masmovil, Blackboard,...<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/providence-logo.jpg\" alt=\"providence equity\" class=\"wp-image-52914\" width=\"184\" height=\"137\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/providence-logo.jpg 259w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/providence-logo-16x12.jpg 16w\" sizes=\"(max-width: 184px) 100vw, 184px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.nazca.es\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Nazca capital<\/strong><\/a>, based in Madrid, is one of the deans of <strong>private equity<\/strong> en Espa\u00f1a con enfoque sectorial abierto y enfocado en empresas espa\u00f1olas. Algunas de sus participadas actuales son Seprotec, Filmin o IDP&#8230;<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/logo-nazca.jpg\" alt=\"nazca capital logo\" class=\"wp-image-52948\" width=\"181\" height=\"129\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/logo-nazca.jpg 800w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/logo-nazca-300x216.jpg 300w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/logo-nazca-768x553.jpg 768w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/logo-nazca-18x12.jpg 18w\" sizes=\"(max-width: 181px) 100vw, 181px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ejemplos_de_Venture_Capital\"><\/span>Examples of Venture Capital:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p class=\"wp-block-paragraph\">  <a href=\"https:\/\/www.sequoiacap.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Sequoia Capital<\/strong><\/a>&nbsp;is a company of <strong>VC fund<\/strong> which invests in startups in the energy, financial, enterprise, healthcare, internet and mobile sectors. The company has offices in the US, China, India and Israel. Sequoia has founded companies by lending capital to those who started them. Some of the companies that grew thanks to this capital are: Cisco Systems, Oracle, Oracle, Apple, YouTube, Yahoo and Google.  <\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital.png\" alt=\"sequoia capital is a firm of venture capital\" class=\"wp-image-52938\" width=\"230\" height=\"128\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital.png 900w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital-300x167.png 300w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital-768x427.png 768w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital-18x10.png 18w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/sequoia-capital-logo-venture-capital-600x333.png 600w\" sizes=\"(max-width: 230px) 100vw, 230px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.globalfounderscapital.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Global Founders Capital<\/strong><\/a>&nbsp;(GFC), based in Munich, Germany, is a globally oriented, stage-agnostic <strong>VC fund<\/strong> that empowers talented entrepreneurs. The firm seeks to invest in companies operating in the internet, retail, financial software, media and IT sectors.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital-1024x422.png\" alt=\"Global Founders Capital, a german venture capital based in Munich\" class=\"wp-image-52930\" width=\"246\" height=\"101\" title=\"\" srcset=\"https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital-1024x422.png 1024w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital-300x124.png 300w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital-768x317.png 768w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital-18x7.png 18w, https:\/\/techma.bakertilly.es\/wp-content\/uploads\/2022\/01\/gfc-global-founders-capital-venture-capital.png 1036w\" sizes=\"(max-width: 246px) 100vw, 246px\" \/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"author":8,"featured_media":0,"template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"tags":[171,155,153,195,172],"paso-howto":[2228],"sectores":[],"class_list":["post-53259","diccionario","type-diccionario","status-publish","hentry","tag-capital-riesgo","tag-corporate-finance-spain","tag-global-corporate-finance","tag-private-equity","tag-venture-capital","paso-howto-venta-potenciales-inversores"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/diccionario\/53259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/diccionario"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/diccionario"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/8"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=53259"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=53259"},{"taxonomy":"paso-howto","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/paso-howto?post=53259"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=53259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}