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Author: Jeffry A. Timmons
Publisher:
ISBN: 9780071033152
Category :
Languages : en
Pages : 300
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Book Description
In Venture Capital at the Crossroads, William Bygrave & Jeffry Timmons examine in depth the venture capital industry & its role in the creation of new businesses. They provide original research on the dimensions of the industry & how risk-taking & the time perspectives of its practitioners are changing, & they reveal how true venture capitalists practice "the art & science of the exceptional" & bring more than money to their deals.
Author: Jeffry A. Timmons
Publisher:
ISBN: 9780071033152
Category :
Languages : en
Pages : 300
Get Book Here
Book Description
In Venture Capital at the Crossroads, William Bygrave & Jeffry Timmons examine in depth the venture capital industry & its role in the creation of new businesses. They provide original research on the dimensions of the industry & how risk-taking & the time perspectives of its practitioners are changing, & they reveal how true venture capitalists practice "the art & science of the exceptional" & bring more than money to their deals.
Author: William D. Bygrave
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Venture capital (VC) has had a profound impact on the U.S and world economies. The landmarks of venture capitalism are the formation of the venture capital fund ARD in 1946 and the establishment of small business investment companies by the U.S. Small Business Administration in 1958. After a boom in the 1960s, the VC industry all but collapsed between 1970 and 1977. The VC industry revived in the 1980s and reached a peak in 1987 from which it declined. At the moment of its decline in 1990, the industry was radically altered and transformed and was at a crossroads from its recent shake-out. This book examines the state of the VC industry at this point in 1990, examining current trends, developments, and practices, and looking at future prospects for the industry, suppliers, and users of risk capital, as well as the nation's economy as a whole. The VC industry has been transformed by two changes. (1) New and specialized financial and investment strategies emphasize deal making, transaction crafting and closing, fee generating, and short-term gains. This "merchant capital" approach is oriented to investing in established firms, as opposed to the classic VC approach of providing equity financing in new, emerging, innovating, and technology-based firms. This change may be due to professionals entering the field from MBA backgrounds rather than business-building backgrounds. (2) The altered market has resulted in reduced opportunities, globalization, increase in available capital, and dominance of institutional money, and the VC industry is losing its classic company-building skills. The major virtue of the traditional VC industry, which has been a wellspring of innovation and great rewards, is the skills brought by the venture capitalists that add value in the firm's forming, building, and harvesting. Changes in the VC industry are seen in an explosion of investing activity, heterogeneity of industry structure, niche funds, declines in rate of return, and increased competition and shake-out. Examples of classic revolutionary industries financed by VC are the semiconductor, computer, and biotechnology industries. Some lessons from these industries are drawn. Lessons are also drawn from the case of the Winchester disc-drive industry, which represents a case of "capital market myopia." Historical VC returns have been in the 10% to 20% range, occasionally in the 20% to 30% range, and rarely higher. The main reason for the unsatisfactory returns on VC since 1983 has been the initial public offering (IPO) drought. The benefits and implications for the VC industry of syndicated investments are examined. The contribution of VC to economic development is explored in terms of internal and external factors. Some high-tech regions were not planned; some planned regional centers have failed. Three factors affect the flow of VC: investors who put up the money, entrepreneurs who form the company, and the venture capitalists. The value-added of classic VC investment lies in the guidance, contracts, know-how, and support of the backers. The relationship between the venture capitalist and management team critically affects the success of the venture. Also examined are relationships between flows of VC and public policy, capital markets, new technologies, and changes in industries. Most important in fostering VC are government policies. Since VC is vital element to entrepreneurship, the U.S. must actively foster classic venture capital by changing some national attitudes and policies in culture, education, and role of government, for which recommendations and suggestions are offered. (TNM).
Author: William D. Bygrave
Publisher: Harvard Business Press
ISBN: 9780875843049
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
Examines the role of venture capital in the creation of new businesses. The book provides information on the size of the industry and how risk-taking and the time perspectives of its practitioners are changing, and shows how venture capital is more than a question of lending money.
Author: Douglas Cumming
Publisher: John Wiley & Sons
ISBN: 0470599758
Category : Business & Economics
Languages : en
Pages : 604
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Book Description
An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues addressed include sources of capital-such as angel investment, corporate funds, and government funds-financial contracts and monitoring, and the efficiency implications of VC investment, to name a few. Opens with a review of alternative forms of venture capital Highlights the structure of venture capital investments Examines the role venture capitalists play in adding value to their investee firms This informative guide will help you discover the true potential of venture capital.
Author: Arlan Rakhmetzhanov
Publisher: Arlan Rakhmetzhanov
ISBN:
Category : Business & Economics
Languages : en
Pages : 51
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Book Description
Doorway to Venture Capital: An Introduction for Young Students written by Arlan Rakhmetzhanov is an essential read for middle and high school students starting their journey into venture capital (VC) investments and startups. Designed and written specifically for young minds, this book presents essential knowledge with easy explanations and eye-catching concepts - perfect to start and gain an advantage before stepping into the world of investment!
Author: Jeffrey Bussgang
Publisher: Penguin
ISBN: 110142737X
Category : Business & Economics
Languages : en
Pages : 205
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Book Description
Entrepreneurs who dream of building the next Amazon, Facebook, or Google can take advantage of one of the most powerful economic engines the world has ever known: venture capital. To do so, you need to woo, impress, and persuade venture capitalists to take a risk on an unproven idea. That task is challenge enough. But choosing the right investor can be harder still. Even if you manage to get backing, you want your VC to be a partner, not some adversary who will undermine your vision in order to make a quick return. Jeffrey Bussgang is one of a few people who have played on both sides of this high-stakes game. By his early thirties, he had helped build two successful start-ups-one went public, the other was acquired. Now he draws on his experience and unique perspective on the "other side" as a venture capitalist helping entrepreneurs bring their dreams to fruition. Bussgang offers detailed insights, colorful stories, and practical advice gathered from his own experience as well as from interviews with dozens of the most successful players on both sides of the game, including Twitter's Jack Dorsey and LinkedIn's Reid Hoffman. He reveals how to get noticed, perfect a pitch, and negotiate a partnership that works for everyone. An insider's guide to the secrets of the world venture capital, Mastering the VC Game will prove invaluable for entrepreneurs seeking capital and successful partnerships.
Author: Georges Frederic Doriot
Publisher: Calgary : Gondolier
ISBN: 9781896209937
Category : Business enterprises
Languages : en
Pages : 262
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Book Description
General Doriot created the first institutional venture capital fund in 1946 and set a standard for VC forever. Harvard Business School professor, war strategist and founder of INSEAD, one of Europe's most respected business schools, Doriot brilliantly articulated views on business formation, entrepreneurship, development and the dynamism of capital.
Author: Hans Landström
Publisher: Edward Elgar Publishing
ISBN: 1847208789
Category : Business & Economics
Languages : en
Pages : 455
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Book Description
Provides an overview of the various facets of venture capital and their related issues. This book surveys venture capital as a research field and explores the various conceptual, theoretical, methodological and geographic aspects. It focuses on the specific environs of venture capital.
Author: Ruthann Quindlen
Publisher: Grand Central Publishing
ISBN: 0446930776
Category : Business & Economics
Languages : en
Pages : 250
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Book Description
Regarded as one of the leading experts in entrepreneurial analysis, Ruthann Quindlen educates the reader on the pitfalls and opportunities available in the world of venture capitalism. Her ideas are founded in ten commandments for entrepreneurs.
Author: Leonard A. Batterson
Publisher: John Wiley & Sons
ISBN: 1119409365
Category : Business & Economics
Languages : en
Pages : 194
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Book Description
Venture capital demystified, for both investors and entrepreneurs Building Wealth Through Venture Capital is a practical how-to guide for both sides of the table—investors and the entrepreneurs they fund. This expert author duo combines renowned venture capital experience along with the perspective of a traditional corporate executive and investor sold on this asset class more recently to flesh out wealth-building opportunities for both investors and entrepreneurs. Very simply, this book will guide investors in learning how to succeed at making money in venture capital investment, and it will help entrepreneurs increase their odds of success at attracting venture capital funds and then employing those funds toward a lucrative conclusion. The authors explain why venture capital will remain the asset class best-positioned to capitalize on technological innovation in the coming years. They go on to demystify the market for those seeking guidance on reaping its rich returns. Learn what it takes to succeed as an investor or entrepreneur, and gain the wisdom of experience as the authors explain key factors that determine outcomes. Through a relaxed, down-to-earth narrative, the authors share their own experiences as well as those of their nationally-recognized colleagues. Illustrative anecdotes and personal interviews expand upon important points, and case studies demonstrate the practical effect of critical concepts and actions. World-class professional expertise and personal experience come together to help you: Understand the nature of both venture capitalists and successful entrepreneurs Develop wealth-building capabilities in investing in or attracting venture capital Learn how entrepreneurs and investors can work together toward a lucrative conclusion Examine the ways in which recent financial regulatory developments and technological advances already in place are democratizing access to venture capital, enabling unprecedented expansion of venture capital opportunities As the field expands through these regulatory and technological developments, savvy participants will have unprecedented opportunity to benefit. Building Wealth Through Venture Capital explains what you need to know, and shows you how to navigate this arcane but lucrative asset class.
