After the lean years of the Great Depression, when the increase in bankruptcies, and financing for new businesses virtually dried up, the demand for new capital was established in the post-war environment, scientific, and industrial expansion. Venture financing occurred more commonly in the United States than it has ever done before. Although the roots of the U.S. venture capital industry are long-standing and multifaceted, they often go back to the pioneering initiative of the French general, and Harvard Business School professor, Georges Doriot, who established the American Research and Development Corporation (ARD) in 1946. "Hide
by Tom Nicholas, David Chen Source: Harvard Business School 21 pages. Publication Date: January 12, 2012. Prod. #: 812110-PDF-ENG
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