The Role of the Venture Capital and Private Equity Funds in the Financing of Small and Medium-Sized Enterprises in Croatia in the Period 2021-2025

enture capital (VC) and private equity (PE) funds are essential for driving economic growth, particularly in the early stages of small and medium-sized enterprises (SMEs). This study aims to investigate the impact of VC and PE funds on SMEs in Croatia from 2021 to 2025. By conducting primary research through structured interviews with five active VC and PE funds in Croatia, the study will provide insights into the role of risk capital financing in SMEs’ development and funding requirements. Additionally, the article will explore the broader context of VC and PE funding in Europe, including the industries that receive primary investments and the preferences for disruptive technologies. The research will also examine the stages of companies that attract investments, the average investment size, the average return on investments, and the future outlook for VC/PE investments. The findings will contribute valuable insights into the potential of VC and PE funds in supporting the growth and development of SMEs in Croatia