CASE STUDY H: PRINCIPAL A BANKING SUBSIDIARY
The previous chapter considered the case of a relatively small independent venture capital fund, and two of its investees. There, concern was with the smaller end of the market, and high-risk, high-technology, early-stage involvements would be contemplated. By contrast, this chapter considers the case in which the principal (PH) is a subsidiary of a well-known UK investment bank. In this case, there was an aversion to high-risk, high-technology, earlystage involvement on the part of PH, and an almost exclusive preference for large-scale development capital involvement.