Influencia de la estrategia de inversión del capitalista de riesgo en el desempeño de las empresas financiadas: El caso del fondo de capital de riesgo de Comfandi

This article studies the relation between a risk capitalist's investment strategy and the financed companies' performance. The exploratory nature of the study and the scarcity of this type of entity in Colombia led to the decision of using a case study to analyze the experience of the Comfandi risk capital fund. After interviewing the different stakeholders and reviewing the Comfandi contracts and files, the fund investment strategy at the beginning of the investment period was identified as well as the changes that have occurred, which enabled establishing the associated problems. In the Colombian context, the results appear to confirm that the risk capitalist's investment strategy does influence the performance of the financed companies. Indeed, companies financed by a risk capitalist with an active strategy would have better performance than companies financed by a risk capitalist with a passive strategy.