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This study aims to evaluate the factors that influence in the resources allocation process in Private Equity/Venture Capital (PE/VC) market. We have selected twenty five variables consonant with existing literature. Via Factor Analysis, we model variables that possibly affect the demand of PE/VC. The sample was composed of 25 countries between 2006 and 2011. Six factors were identified: Economic Activity, Development of Stock Markets, Corporate Governance, Social and Environmental Development, Entrepreneurship and Taxation. Employing pooled regression, we investigated relationships between the amount invested in PE/VC funds and those factors generated. The results indicate that investments are adversely affected by the depth of capital market: PE/VC funds seek an exit strategy that the stock market can offer through IPOs. Other significant factors were the protection of investors, social and environmental development and the level of entrepreneurship. Different from the expected, economic activity was not significant. The result seems controversial but its lack of significance highlights the importance of the capital market (through IPOs as a way of disinvestment) as key drivers of PE/VC market. Taxation was also not significant, which denotes that government can influence that the local PE/VC market should offer discount rates or tax incentive high enough to mitigate the effect of other barriers faced by PE/VC market. This result is relevant to academic literature, impacting on recent research on the attractiveness indices of the PE/VC market, as Groh et al (2010) that for the construction of indices consider these two constructs.