The New Geography of Private Capital: Investing in an Age of Geopolitics and State Capitalism

Private capital has transformed the global economy. Venture capital and private equity now finance a growing share of the companies, technologies, and innovations that shape economic growth—and these markets have expanded far beyond the United States. But just as capital has become more global, the world has become more fragmented. Geopolitical tensions, industrial policy, and the growing role of governments in directing investment are reshaping where capital flows and which companies and countries benefit. Drawing on new global data and research, Chicago Booth Professor Emanuele Colonnelli will explore the rise and globalization of private capital, the striking differences across investment ecosystems, and what a new era of geopolitics and “state capitalism” may mean for investors, entrepreneurs, and the future of global growth.