Updated
Emerging World Offers Opportunity for US Venture Capitalists [Wall Street Journal]
More good news from US officials at the Global Entrepreneurship Summit in Morocco:
U.S. Commerce Secretary Penny Pritzker is considering launching a new breed of trade mission focused on bringing American capital to developing markets. On the sidelines of last week’s Global Entrepreneurship Summit in Marrakech, Morocco, Secretary Pritzker told WSJ Frontiers that she is considering creating “some sort of capital trade mission” aimed at bringing American venture capitalists and other funding providers in contact with entrepreneurs in various regions around the world.
“We do trade missions—why aren’t we doing a trade mission to the region with venture capitalists?” she asked.
Pritzker sees the export of financing expertise and funding capacity as a “huge market opportunity” for American businesses. “Access to capital is a huge problem here,” she said. “There is not the angel funding, the venture capital community, the mentorships that you see in parts of the U.S. Those are business opportunities.”..[full story]