UTJECAJ COVID-19 KRIZE NA PRIVATE EQUITY I VENTURE CAPITAL TRŽIŠTE ODABRANIH ZEMALJA

COVID-19 kriza imala je značajan utjecaj na private equity i venture capital tržište u Hrvatskoj, Sloveniji i Češkoj. U početku krize, investitori su postali oprezniji i usporili su nove investicije, čime je došlo do smanjenja aktivnosti na tržištu. Mnoge tvrtke suočile su se s financijskim poteškoćama i padom prihoda, što je rezultiralo smanjenjem investicijskog kapitala i potražnje za novim projektima. Međutim, s vremenom se tržište počelo oporavljati, a private equity je ponovno pokazao interes za investicije u sektore koji su se pokazali otpornima na krizu, poput tehnologije, zdravstva i e-trgovine. Digitalna transformacija i tehnološke inovacije dobile su na važnosti tijekom krize, što je privuklo pažnju investitora i potaklo rast u tim sektorima. Državne poticajne mjere i programi podrške, poput subvencija i kreditnih linija, igrali su važnu ulogu u održavanju likvidnosti tvrtki i podržavanju investicijske aktivnosti. Investitori su se više fokusirali na podršku postojećim portfeljnim tvrtkama kako bi im pomogli prebroditi teškoće izazvane pandemijom. Kriza je također potaknula promjene u investicijskim prioritetima, s naglaskom na otpornost poslovnih modela i dugoročni potencijal rasta. Očekuje se da će oporavak tržišta venture capital i private equity biti postupan, ali potencijal za ulaganja i dalje postoji, posebno u sektorima s visokom inovativnošću i digitalnom transformacijom. Unatoč izazovima koje je kriza donijela, private equity i venture capital nastavljaju igrati ključnu ulogu u poticanju gospodarskog rasta, podržavajući razvoj inovativnih tvrtki i stvarajući nova radna mjesta.The COVID-19 crisis had a significant impact on the private equity and venture capital market in Croatia, Slovenia and the Czech Republic. At the beginning of the crisis, investors became more cautious and slowed down new investments, which led to a decrease in market activity. Many companies faced financial difficulties and a drop in revenue, resulting in a reduction in investment capital and demand for new projects. However, over time, the market began to recover, and private capital again showed interest in investments in sectors that proved resistant to the crisis, such as technology, healthcare and e- commerce. Digital transformation and technological innovation gained importance during the crisis, attracting the attention of investors and driving growth in these sectors. State incentives and support programs, such as subsidies and credit lines, played an important role in maintaining company liquidity and supporting investment activity. Investors focused more on supporting existing portfolio companies to help them weather the difficulties caused by the pandemic. The crisis also prompted changes in investment priorities, with an emphasis on the resilience of business models and long-term growth potential. The recovery of the venture capital and private equity markets is expected to be gradual, but the potential for investment remains, especially in sectors with high innovation and digital transformation. Despite the challenges brought by the crisis, private equity and venture capital continue to play a key role in stimulating economic growth, supporting the development of innovative companies and creating new jobs