Venture capital and corporate governance in Ghana

Abstract

Venture capital (VC) investments in Ghana are relatively new but promise to enhance economic development. This article discusses the general description of the process and recent contribution of VC on corporate governance is discussed. This study was conducted using both complementarities framework and governed corporation principle in which venture capital firms and their portfolio firms provided the basis of resource exchanges. There is now transformation in corporate governance in Ghana as a result of VC investment. Venture capital investment at the moment is skewed in favour of late stage financing. The active participation in the portfolio firms through board representation by VC firms is enhancing corporate governance.