Scope. Venture capital began in the United States and is still dominated by it, but every major economy now has its own venture ecosystem with its own LP base, legal structures, exit routes and government role. This section compares ten ecosystems: the United States, Europe, Israel, China, India, Southeast Asia, Latin America, Africa, Japan/Korea and the Middle East. It explains what makes an ecosystem work, why returns earned in local currency can disappear in dollars, and how geopolitics redrew the map after 2021.
What the study covers
- 1Overview
- 2Mechanics: how ecosystems differ in practice
- 3Key numbers and comparisons
- 4Landmark episodes
- 5Risks and pitfalls
- 6How an expert thinks about it
- 7Related sections