The Geoeconomics of Venture Capital An Economic Complexity Approach to Emerging Technological Sovereignty
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arXiv
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| Autori principali: | , , , , |
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| Natura: | Preprint |
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2026
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| _version_ | 1866911581508468736 |
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| author | Leroy, Benjamin Marim, Davi Benjelloun, El Ghali Debeaurain, Arthur Rozan Dalle, Jean-Michel |
| author_facet | Leroy, Benjamin Marim, Davi Benjelloun, El Ghali Debeaurain, Arthur Rozan Dalle, Jean-Michel |
| contents | We explore a quantitative approach to emerging technological sovereignty and geoeconomic power by assessing the relative positioning of countries with economic complexity methods applied to the structure of national venture-capital (VC) portfolios and their associated Revealed Venture Advantage (RVA) metrics. Using Crunchbase firm- and deal-level data, we map venture-backed startups to 18 emerging technology domains via a probabilistic multi-label large-language-model classifier, and construct an RVA-based country-technology specialization matrix for the 17 countries with the highest aggregate VC funding. From this matrix, we derive two eigenvector-based measures: a Geoeconomic Complexity Index (GCI) that ranks countries by the composition of their venture specializations, and an Emerging Technology Geoeconomic Complexity Index (ETGCI) that ranks domains by the extent to which specialization is concentrated among high-GCI countries. Empirically, Cloud Computing, Cybersecurity Tools, and Medtech exhibit the highest ETGCI values, reflecting concentration of specialization in a small set of leading countries. The United States and Israel consistently occupy a marked "high-diversity/low-ubiquity" position and lead the GCI ranking, followed by China, France, Japan, and Germany; both country and domain rankings are stable from 2021-2024. Finally, relatedness-based simulations identify, when it exists, for each country the Simplest Single Sovereignty Enhancing Technology (SSSET), i.e., the most feasible single new technological direction associated with the largest expected improvement in relative geoeconomic positioning. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2604_09187 |
| institution | arXiv |
| publishDate | 2026 |
| record_format | arxiv |
| spellingShingle | The Geoeconomics of Venture Capital An Economic Complexity Approach to Emerging Technological Sovereignty Leroy, Benjamin Marim, Davi Benjelloun, El Ghali Debeaurain, Arthur Rozan Dalle, Jean-Michel General Economics Economics Physics and Society General Finance We explore a quantitative approach to emerging technological sovereignty and geoeconomic power by assessing the relative positioning of countries with economic complexity methods applied to the structure of national venture-capital (VC) portfolios and their associated Revealed Venture Advantage (RVA) metrics. Using Crunchbase firm- and deal-level data, we map venture-backed startups to 18 emerging technology domains via a probabilistic multi-label large-language-model classifier, and construct an RVA-based country-technology specialization matrix for the 17 countries with the highest aggregate VC funding. From this matrix, we derive two eigenvector-based measures: a Geoeconomic Complexity Index (GCI) that ranks countries by the composition of their venture specializations, and an Emerging Technology Geoeconomic Complexity Index (ETGCI) that ranks domains by the extent to which specialization is concentrated among high-GCI countries. Empirically, Cloud Computing, Cybersecurity Tools, and Medtech exhibit the highest ETGCI values, reflecting concentration of specialization in a small set of leading countries. The United States and Israel consistently occupy a marked "high-diversity/low-ubiquity" position and lead the GCI ranking, followed by China, France, Japan, and Germany; both country and domain rankings are stable from 2021-2024. Finally, relatedness-based simulations identify, when it exists, for each country the Simplest Single Sovereignty Enhancing Technology (SSSET), i.e., the most feasible single new technological direction associated with the largest expected improvement in relative geoeconomic positioning. |
| title | The Geoeconomics of Venture Capital An Economic Complexity Approach to Emerging Technological Sovereignty |
| topic | General Economics Economics Physics and Society General Finance |
| url | https://arxiv.org/abs/2604.09187 |