Are Private Equity Firms in Emerging Markets Entrepreneurial?

A Case Study of Egypt

Over the five year period from 2003 to 2008, private equity and venture capital investments have grown exponentially, both globally and in emerging markets, making private equity firms and funds increasingly important actors in emerging markets. In this paper, we examine the hypothesis that private equity firms in emerging markets are entrepreneurial—i.e., are more focused on creating new firms or growing and globalizing existing ones, based on a case study of Egypt.