Question: When did the modern venture capital industry in the usa most likely begin?

Disambiguated questions and answers:
context: Georges Doriot, the "father of venture capitalism" (and former assistant dean of Harvard Business School), founded the graduate business school INSEAD in 1957. Along with Ralph Flanders and Karl Compton (former president of MIT), Doriot founded ARDC in 1946 to encourage private-sector investment in businesses run by soldiers returning from World War II. ARDC became the first institutional private-equity investment firm to raise capital from sources other than wealthy families, although it had several notable investment successes as well. ARDC is credited with the first trick when its 1957 investment of $70,000 in Digital Equipment Corporation (DEC) would be valued at over $355 million after the company's initial public offering in 1968 (representing a return of over 1200 times on its investment and an annualized rate of return of 101%).
question: When did the modern venture capital industry in the usa most likely begin marked by the first institutional private-equity firm raising capital from the wealthy?
short_answers: 1946
wikipage: Venture capital
context: One of the first steps toward a professionally managed venture capital industry was the passage of the Small Business Investment Act of 1958. The 1958 Act officially allowed the U.S. Small Business Administration (SBA) to license private "Small Business Investment Companies" (SBICs) to help the financing and management of the small entrepreneurial businesses in the United States. The Small Business Investment Act of 1958 provided tax breaks that helped contribute to the rise of private equity firms.
question: When did the modern venture capital industry in the usa most likely begin, marked by small business legislation that provided tax breaks?
short_answers: 1958
wikipage: Venture capital
context: It is commonly noted that the first venture-backed startup is Fairchild Semiconductor (which produced the first commercially practical integrated circuit), funded in 1959 by what would later become Venrock Associates. Venrock was founded in 1969 by Laurance S. Rockefeller, the fourth of John D. Rockefeller's six children, as a way to allow other Rockefeller children to develop exposure to venture capital investments.
question: When did the modern venture capital industry in the usa most likely begin, marked by the first venture-backed startup being funded?
short_answers: 1959
wikipage: Venture capital

Long-form answers:
knowledge: content: Before World War II (1939–1945) venture capital was primarily the domain of wealthy individuals and families.
wikipage: Venture capital
content: Venrock, a compound of "Venture" and "Rockefeller", is a venture capital firm formed in 1969 to build upon the successful investing activities of the Rockefeller family that began in the late 1930s.
wikipage: Venrock
content: Only after 1945 did "true" venture capital investment firms begin to emerge, notably with the founding of American Research and Development Corporation (ARDC) and J.H. Whitney & Company in 1946
wikipage: Venture capital
long_answer: Before World War II venture capital was primarily the domain of wealthy individuals and families. Following World War II, in 1946, Georges Doriot, the "father of venture capitalism" along with Ralph Flanders and Karl Compton founded American Research and Development Corporation or ARDC to encourage private-sector investment in businesses run by soldiers returning from World War II. ARDC became the first institutional private-equity investment firm to raise capital from sources other than wealthy families. Then, in 1958, one of the first steps toward a professionally managed venture capital industry in the United States was the passage of the Small Business Investment Act of 1958. The Small Business Investment Act of 1958 provided tax breaks that helped contribute to the rise of private equity firms. Then in 1959, it is commonly noted that the first venture-backed startup, Fairchild Semiconductor, was funded by what would later become Venrock Associates. Venrock, a compound of "Venture" and "Rockefeller" is a venture capital firm formed in 1969 to build upon the successful investing activities of the Rockefeller family that began in the late 1930s.