Details

The Business of Venture Capital

The Art of Raising a Fund, Structuring Investments, Portfolio Management, and Exits
Wiley Finance 3. Aufl.

von: Mahendra Ramsinghani
63,99 €
Verlag:	Wiley
Format:	EPUB
Veröffentl.:	12.01.2021
ISBN/EAN:	9781119639701
Sprache:	englisch
Anzahl Seiten:	544

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Beschreibungen

Titelbeschreibung

The new edition of the definitive guide for venture capital practitioners—covers the entire process of venture firm formation & management, fund-raising, portfolio construction, value creation, and exit strategies Since its initial publication, The Business of Venture Capital has been hailed as the definitive, most comprehensive book on the subject. Now in its third edition, this market-leading text explains the multiple facets of the business of venture capital, from raising venture funds, to structuring investments, to generating consistent returns, to evaluating exit strategies. Author and VC Mahendra Ramsinghani who has invested in startups and venture funds for over a decade, offers best practices from experts on the front lines of this business. This fully-updated edition includes fresh perspectives on the Softbank effect, career paths for young professionals, case studies and cultural disasters, investment models, epic failures, and more. Readers are guided through each stage of the VC process, supported by a companion website containing tools such as the LP-GP Fund Due Diligence Checklist, the Investment Due Diligence Checklist, an Investment Summary format, and links to white papers and other industry guidelines. Designed for experienced practitioners, angels, devils, and novices alike, this valuable resource: <ul> <li>Identifies the key attributes of a VC professional and the arc of an investor’s career</li> <li>Covers the art of raising a venture fund, identifying anchor investors, fund due diligence, negotiating fund investment terms with limited partners, and more</li> <li>Examines the distinct aspects of portfolio construction and value creation</li> <li>Balances technical analyses and real-world insights</li> <li>Features interviews, personal stories, anecdotes, and wisdom from leading venture capitalists</li> </ul> The Business of Venture Capital, Third Edition is a must-read book for anyone seeking to raise a venture fund or pursue a career in venture capital, as well as practicing venture capitalists, angel investors or devils alike, limited partners, attorneys, start-up entrepreneurs, and MBA students.

Inhaltsverzeichnis

Foreword xiii Preface xv Acknowledgments xxvii Part One The Making of a VC 1 The Business of Cash and Carry 3 2 Why Choose a Career in VC 11 3 Attributes of Successful VCs 15 4 Welcome to the Land of Ad-Venture 21 5 Developing Your Investment Career 41 6 A Business Where Enemies Accumulate 57 7 Generational Transfer and Succession 63 Part Two Raising Your Venture Fund 8 LP Universe 73 9 LPs of Choice: Fund of Funds 89 10 How LPs Conduct Fund Due Diligence 95 11 Defining Your Fund’s Investment Strategy 99 12 Investment Team Diligence 119 13 Fund Size and Portfolio Construction 129 14 Performance Analysis 137 15 Terms of Fund Investment 155 16 The Venture Firm’s Ethos, Culture, and Values 173 17 Raising Your First Fund 193 18 The Fundraising Roadshow 205 19 Why LPs Seek First-Time Funds 221 20 Sourcing Investment Opportunities 229 Part Three Building Your Portfolio 21 Due Diligence Cheat Sheet 255 22 Diligence 259 23 Management Team Diligence: Assessing the Intangible 269 24 Market, Product, and Business Model Analysis 293 25 Terms and Conditions Apply 303 26 Structure of the Term Sheet 309 27 Buy Low, Sell High 317 28 The Closing Process 353 Part Four The Art of Value Creation 29 Serving on Boards 357 30 Board Culture and Orientation 367 31 Let Me Know How I Can Be Helpful: Value Creation 377 32 Challenges in the Boardroom 391 Part Five Exits: Liquidity Events and Champagne 33 Exit Strategies 407 34 Acquisitions 417 35 Initial Public Offering 435 36 Secondary Sales 449 Notes 451 Index 485

Autorenportrait

MAHENDRA RAMSINGHANI, B. Engg., MBA, has over fifteen years of investment experience and is the founder of Secure Octane, a San Francisco–based cybersecurity fund. He is the former Managing Director of First Step Fund and has advised investment organizations in the U.S., Asia Pacific, and Middle East regions. He is a frequent speaker at engagements around the world, and contributes regularly to professional publications, including Techcrunch, Forbes, and Venturebeat.

Back cover copy

PRAISE FOR THE BUSINESS OF VENTURE CAPITAL "In the First Edition of this book, Mahendra covered Arboretum's Fund I journey. A decade later, we are now on Arboretum Fund V. The Business of Venture Capital continues to inspire, inform, and shape the journey of future fund managers." —Jan Garfinkle, Founder and Managing Partner, Arboretum Ventures; Board Chair, National Venture Capital Association (2019-2020) "Mahendra has written the book I needed when I first entered the venture business. Rather than blindly stumbling my way to understanding the basics, I would have saved so much time. This book is like getting a five-year head start for anyone who wants to get up to speed about how it really works." —Mike Maples, Jr., Founding Partner, Floodgate "A solid foundation of investment frameworks and mental models for any venture investor, a useful guide in our rapidly changing world." —Beezer Clarkson, Managing Director, Sapphire Partners "An essential guide for any investor—one of the few books that weaves real-life case studies with leading academic research." —T.K. Kurien, Managing Partner and Chief Investment Officer, Premji Invest "A definitive guide to a nuanced, complex business which has no formulas—The Business of Venture Capital peels back the curtains to reveal an insider's look into the high-stakes world of high-tech VC." —Peter Hebert, Co-founder and Managing Partner, Lux Capital, a VC firm with $2.4 billion under management "A decade later, the Third Edition of this book continues to build upon the VC industry, its best practices, worst biases, swift changes, and all the excitement that goes with it." —Brad Feld, Co-founder, Foundry Group and Techstars; Co-author, Venture Deals "T.S. Eliot suggested that exploration would lead us back to where we started, allowing us to know the place for the first time. Mahendra's book was like that for me, shedding fresh light on areas I'd explored during two decades in VC while also expertly illuminating emerging trends." —Chris "SuperLP" Duovos, Founder and Managing Director, Ahoy Capital "Another masterpiece digging into the art of venture funds, portfolio construction, and deal mechanics! Loved it and a must-read." —Harry Stebbings, Founder, Stride.VC and The Twenty Minute VC Podcast