The Mechanism of Ensuring Liquidity of Venture Capital

Abstract

The authors study the mechanism IPO as the most attractive mechanism of venture capital funding by the example of Israel – as one of the most successful countries in development of venture industry. The purpose of the paper is to analyze the Russian practice of venture investements and to find the means of increasing their effectiveness. The authors used the empirical method (collection and analysis of data), historical, comparative, general scientific methods, synthesis of theoretical and practical material, and method of expert evaluations. Dynamics of investing into Hi-Tech companies and the Russian practice are studied. The current tendencies in the global market of venture investements are determined, and Russia’s underrun from them is substantiated. The possibility of application of the latest mechanisms of attraction of investments - ICO, STO, IEO – into the venture industry of Russia for integration in the system of international venture capital is considered as an alternative to traditional mechanisms.