For many people, the era of exploration brings to mind school-book images.
Adventurous explorers navigating the open seas. In search of distant lands to conquer. Explorers would ask the ruling monarchy for money and then use the funds to pay for their expeditions. The profits from the voyage would go to the royalty. The main benefit to the explorer would be an increased societal status and respect from the king.
Ship financing for commercial purposes at this time was based on a system.
One or more investors would pay for a ship...and its journey to an unknown land. The proceeds from plunder or other exploration activities would then simply go back into the hands of the investors.
Sailors and captains would be fully aware of the danger.
Taking to the seas was dangerous. It would bring them into situations that could easily claim their lives. And that could happen no matter what type of ship was involved. Convicts were often used for crew members.
Schulte, Alexander & Schnieders, Patrick 2007. Schiffsfinanzierung aus der Perspektive einer Reederei im Rahmen des Seminars “Schiffsfinanzierung“ Universität Hamburg, 23.05.2007
Swart, Petrus Johannes Cillié. A Volatility and Sustainability Comparison between Bulk Cargo Vessels and Container Vessels as Investments, 2007
Wow, i did not know that. Very interesting Cillie. So in the very early days that had ''venture capitalists'' and financiers. :)
I guess so, just different names for the same thing I guess....
Yes indeed!
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