The paper presents the content analysis regarding the factors influencing the possibility of commencement of cooperation between Venture Capitalists and entrepreneurs in Central and Eastern Europe (CEE). Because of the European Union's support to small and medium enterprises a lot of public funding in form of Venture Capital (VC) is available in CEE. Studies show that public funding only partly reaches its goals. Instead of financing the earliest stages of the development Venture Capitalists (VCs) predominantly invest in later stages and instead of investment in equity provide mezzanine loans. VCs blame that there is not sufficient flow of projects for financing, but entrepreneurs complain about VCs unwillingness to finance seed and preseed stages. The analysis suggests that factors influencing the issue under the study in CEE are different from those in the rest of the world. The lack of awareness about VC, both in general and in detail, is the most important factor in CEE. However, this factor has not been found at all elsewhere. The factors identified provide directions on how the quality and amount of potentially interested in VC funding entrepreneurs could be improved. Also, the study provides hints for entrepreneurs to take into account if willing to receive VC.