Jimmy Carter deregulated venture capital
(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at: lawrence@krubner.com
SourceMoney had been pouring into venture capital since a 1978 change in regulations allowed pension funds to consider it a “prudent” investment. The $2.5 billion managed by venture capital firms in 1977 quintupled by 1983 to $12 billion2. New money committed per year rose 16x over five years, from $218 million in 1978 to $3.6 billion in 19833. The number of venture funds grew from 47 in 1980, to 71 in 1982, to 113 in 1983. The number of investment professionals nearly tripled, from 597 in 1977 to 1,494 in 1983.