Venture capital value creation: IPO performance of VC-backed companies in CEE
|Author:||Bc. Jakub Horyna|
|Year:||2021 - summer|
|Leaders:|| Mgr. Petr Polák MSc. Ph.D.
|Work type:|| Bachelors
|Awards and prizes:|
|Abstract:||Venture capital is an exciting industry, that generates dominant global technology companies in the capital markets. Venture capital funding is raised in
the early stages of the startup life cycle and these enterprises are often aiming
to realise returns by being listed on the public markets with an initial public
offering. This thesis focuses on venture capital industry in general and highlights the differences between CEE and other regions. IPOs of selected CEE
startups are analysed for their stock performance. We found significant underperformance of first day IPO returns coming from CEE on a sample of 5
companies. The CEE markets are an attractive area, but the region is still too
young to make strong conclusions about the IPO performance. However, it is
growing very aggresively and further successes are expected.