Venture Capital in Latvia: The Peculiarities, Contradictions, and Accessibility for SMEs

The authors of this article pay particular attention to the study of the nature of venture capital as a multi-meaning concept. It is evident that venture capital is one of the main sources of financing innovation entrepreneurship and small business. On the other hand venture capital represents an independent sector of market economy of a certain country. At the same time venture capital operation mechanism requires a definite system of public relations in risky business, which is based on economic interests of investors, entrepreneurs, government and society. The purpose of this research is, on the basis of the investigation, analysis and synthesis of contemporary publications on the topic of venture capital and opinions of Latvian venture investors, to make an attempt to evaluate the role of venture capital in the development of entrepreneurship and small businesses in Latvia, identifying the peculiarities and contradictions of its functioning in the conditions of entrepreneurial environment in the context of globalization.