when did the modern venture capital industry in the usa most likely begin
Venture capital Before World War II (1939â€“1945), money orders (originally known as "development capital") remained primarily the domain of wealthy individuals and families. Only after 1945 did "true" private equity investments begin to emerge, notably with the founding of the first two venture capital firms in 1946: American Research and Development Corporation (ARDC) and J.H. Whitney & Company.[5][6]