File Size: 1829 KB
Print Length: 321 pages
Simultaneous Device Usage: Up to 4 simultaneous devices, per publisher limits
Publisher: McGraw-Hill Education; 1 edition (December 21, 2009)
Publication Date: December 21, 2009
Sold by: Digital Services LLC
Language: English
ISBN-10: 0071624619
ISBN-13: 978-0071624619
ASIN: B006QA72F4
Text-to-Speech: Enabled
X-Ray: Not Enabled
Word Wise: Enabled
Lending: Not Enabled
Enhanced Typesetting: Enabled
Best Sellers Rank: #154,439 Paid in Kindle Store (See Top 100 Paid in Kindle Store) #10 in Kindle Store > Kindle eBooks > Business & Money > Management & Leadership > Consolidation & Merger #21 in Books > Business & Money > Finance > Corporate Finance > Private Equity #35 in Kindle Store > Kindle eBooks > Business & Money > Economics > Free Enterprise
In this book some of the real veterans of Private Equity and Venture Capital get to tell their own story - How did their career develop? Why did they make the choices they made and how did this form the sectors today? What lessons can they share (professional and in life)? The author Robert Finkel is the president and founder of a USD 190 million, Chicago based, PE-firm called Prism Capital. He got the inspiration for the book while arranging a number of panel discussions with seasoned VC-managers. With the book Finkel is "seeking to expand my own interest in their accomplishments and channel it, in written form, into a kind of virtual classroom, one open to public viewing." Self-improvement and sharing of financial wisdom - two worthy causes to write a book.The structure of the book is simple: first an introduction by the author, then the two major parts of the book presenting one academic and five practitioners within first PE and then VC and finally a number of appendices with material from some of the practitioners ("Managing Director Selection Criteria" etc.). The arrangement lends itself perfectly to study the similarities and the differences of the two protagonists. Let's begin with what unites PE and VC. For a start they raise money, run funds with finite lives and then return the limited partners' money. This gives them "the advantage of a burning platform", i.e. a built in sense of urgency, a notion that time is money and an understanding of the alternative use of cash that is very conductive to driving change (and results). Both also view themselves as down to earth stewards of healthy business values, builders of enterprise value and champions of capitalism.
I just read the chapters related to venture capital in the book The Masters of Private Equity and Venture Capital. These are the chapters 7 to 11 built from interviews of:- Garth Saloner, Stanford Professor- Bill Draper, founder of Draper Richards and of Sutter Hill- Richard Kramlich, founder of NEA- Steven Lazarus, founder of ARCH Venture Partners- Pitch Johnson, founder of Asset Management CompanyYou may not know their names but Draper, Kramlich and Johnson are famous "grandfathers" of Silicon Valley venture capital. You may remember them if you read anything on the history of venture capital.I have to admit my favorite chapter was about Pitch Johnson. (So if you are bored with my lengthy post at some point, jump to the Johnson chapter before quitting!) I had been in contact with him in the past when he sent me a great poster about the early history of the west coast VC. I had also quoted Johnson in my book; I quite liked what he had to say about entrepreneurship: "Entrepreneurs are the revolutionaries of our time." And he had added: "Democracy works best when there is this kind of turbulence in the society, when those not well-off have a chance to climb the economic ladder by using brains, energy and skills to create new markets or serve existing markets better than their old competitors"So is VC an art or a science? It is certainly not the only topic of this book but all contributors give their views on the question (and on a few other issues I will also mention).Chapter 7 - Garth Saloner - The Entrepreneur and the Venture CapitalistSaloner, a Stanford professor, gives an overview of what VC was and is about.
The Masters of Private Equity and Venture Capital: Management Lessons from the Pioneers of Private Investing The Masters of Private Equity and Venture Capital Venture Capital Handbook: An Entrepreneur's Guide to Raising Venture Capital, Revised and Updated Edition Crowdfunding Success: The New Crowdfunding Revolution: How to raise Venture Capital for a Startup or fund any dream with a successful Crowdfunding Campaign ... Venture Capital, fundraising, , startup) Venture Capital, Private Equity, and the Financing of Entrepreneurship Venture Capital and Private Equity: A Casebook Introduction to Private Equity: Venture, Growth, LBO and Turn-Around Capital Beyond the J Curve: Managing a Portfolio of Venture Capital and Private Equity Funds Introduction to Private Equity: Venture, Growth, LBO and Turn-Around Capital (The Wiley Finance Series) J-Curve Exposure: Managing a Portfolio of Venture Capital and Private Equity Funds Structuring Venture Capital, Private Equity and Entrepreneurial Transactions Private Equity: Introducción a la financiación privada de las empresas (capital riesgo, capital expansión, LBO y turnaround) (Spanish Edition) The Private Equity Edge: How Private Equity Players and the World's Top Companies Build Value and Wealth Getting a Job in Private Equity: Behind the Scenes Insight into How Private Equity Funds Hire Equity Finance: Venture Capital, Buyouts, Restructure and Reorganizations (3 Volume Set) Creative Capital: Georges Doriot and the Birth of Venture Capital Banker's Guide to New Small Business Finance, + Website: Venture Deals, Crowdfunding, Private Equity, and Technology (Wiley Finance) Masters of Corporate Venture Capital: Collective Wisdom from 50 VCs Best Practices for Corporate Venturing How to Access Startup Innovation & How to Get Funded Venture Capital Investing: The Complete Handbook for Investing in Private Businesses for Outstanding Profits Angel Capital: How to Raise Early-Stage Private Equity Financing