Designing an Optimal Model for Development of Venture Capital in Iran using the Grounded Theory

The purpose of this study was to design an optimal model of venture capital development in Iran using grounded theory. The research method was mixed qualitative and quantitative. For this purpose, firstly, the qualitative approach underlying the paradigmatic model of research including causal conditions, interventionist conditions, contextual conditions, strategies, outcomes, and pivotal categories of venture capital has been extracted. Data were collected through qualitative interviews. The statistical population of the qualitative sector includes venture capital experts who were selected by theoretical sampling method for 20 interviews. At the quantitative stage, each of the extracted categories has been verified using confirmatory factor analysis. The data collection tool in this section was a researcher-made questionnaire that was designed based on qualitative extraction concepts. This questionnaire was distributed among the sample members after determining the validity and reliability. The statistical population of the quantitative section consisted of managers of stock companies. The sample size of this section is based on the recommendations of 210 confirmatory models. The qualitative results showed 67 concepts in the form of 15 sub-categories and six main categories to develop venture capital. The results of the quantitative section also showed that each of the main and sub-categories extracted from the research experts can be generalized to the managers of the stock companies.