From the Introduction:
In this paper, we suggest that venture capital is a compelling option for LTIs that have the governance procedures and skills to realize such goals. The juxtaposition of large past losses coming from green investments with the potential for enormous future gains presents a challenge to LTIs’ capabilities and resources. However, we contend that LTIs can serve as important bridges for venture-backed, capital-intensive companies seeking commercial scale. In turn, LTIs can participate in the success of these companies over the long term. Rather than retreating from the ‘valley of death’ for capital intensive companies, this presents a ‘valley of opportunity’.
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