Download or read book Risk and Reward in Venture Capital written by William Andrews Sahlman and published by . This book was released on 2010 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk and Reward written by Jack L. Rivkin and published by Random House. This book was released on 1987-02-12 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tracks the role played by venture capitalists and individual investors in financing America's industrial growth and shows readers how to locate the quality high-tech companies of today that will become the giants of tomorrow
Download or read book How Venture Capital Works written by Phillip Ryan and published by The Rosen Publishing Group, Inc. This book was released on 2012-07-01 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explanations to the inner workings of one of the least understood, but arguably most important, areas of business finance is offered to readers in this engaging volume: venture capital. Venture capitalists provide necessary investment to seed (or startup) companies, but the startup is only the beginning, there is much more to be explored. These savvy investors help guide young entrepreneurs, who likely have little experience, to turn their businesses into the Googles, Facebooks, and Groupons of the world. This book explains the often-complex methods venture capitalists use to value companies and to get the most return on their investments, or ROI. This book is a must-have for any reader interested in the business world.
Download or read book Venture Capital and the Finance of Innovation written by Andrew Metrick and published by John Wiley & Sons. This book was released on 2021-04-13 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: An invaluable resource for current and aspiring technology investors, Venture Capital and the Finance of Innovation provides an in-depth understanding of the tools and models needed to succeed in this competitive and highly fluid business environment. Building on a comprehensive introduction to fundamental financial and investment principles, the text guides the reader toward a robust skill set using enterprise valuation and preferred stock valuation models, risk and reward, strategic finance, and other concepts central to any venture capital and growth equity investment. Two features of the book stand out from other sources on the subject. First, it pays special attention to the enterprise valuation methodology for high-growth companies. What drives the value of a company that has little physical assets, losing money now but has a small chance of achieving great success in several years? How do you create estimates for sales, profit and return on capital when little data is available? The book answers these questions using a discounted cash flow model that is tailor-made for technology companies (DCF.xlsx downloadable from the instructor website), and the comparables model. Second, it highlights the most valuation-relevant feature of VC term sheets, namely the use of convertible preferred stock. The book shows the reader how to use a user-friendly and automated valuation model of VC preferred stock (available at www.vcvtools.com) to value various types of preferred stock and to visualize how term sheets split the values of the firm between entrepreneurs and VCs. Accessible, comprehensive, and assuming only basic knowledge of venture capital, this text offers essential guidance for successful VC and growth equity investing in any market.
Download or read book Risk reward methodologies for valuation of investment fund in star up companies written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: O financiamento de empresas emergentes de base tecnológica vem merecendo grande atenção, tanto por parte da comunidade de investidores quanto dos agentes públicos interessados nos ganhos econômicos e sociais atribuídos a tais empresas. A realização de tais ganhos depende, entretanto, de conhecimentos e habilidades sofisticados para lidar com diversos fatores de risco associados a tais empresas, à sua tecnologia e à natureza das oportunidades que perseguem. Aextensão do risco envolvido e a complexidade dos instrumentos necessários para fazer frente a tais riscos fizeram reconhecer esse tipo de financiamento como umaclasse distinta de investimento, denominada capital de risco. Como tal, a atividade de capital de risco teve seu início reconhecido a partir de 1930, com investimentosfeitos por algumas famílias abastadas americanas. A década seguinte registra o surgimento da primeira empresa de capital de risco, que vem a estabelecer o paradigma de operação de uma indústria que, nos Estados Unidos, investe cerca de uma centena de bilhões de dólares por ano a Indústria de Fundos de Capital de Risco que profissionaliza todo o ciclo de capital de risco, desde a captação derecursos junto aos investidores, a aplicação em empresas emergentes e, finalmente, o desinvestimento e a distribuição dos resultados aos investidores. No Brasil, essa indústria começou a se estruturar a partir da Instrução CVM 209, de 1994, que regulamentou esses fundos sob a denominação de Fundos Mútuos de Investimento em Empresas Emergentes. Estimativas preliminares sugerem que essa indústria movimentou, em 2000, cerca de US$ 1 bilhão. Uma das grandes barreiras ao desenvolvimento dessa indústria é a aquisição do conhecimento técnico sobre a gestão e avaliação de fundos nos quais os ativos adquiridos (papéis de empresas emergentes) não são negociados em bolsa. O conhecimento existente é, em boa parte, de natureza proprietária e é tratado como segredo industrial. Este trabalho, de natureza exploratória, reflete uma incursão no estudo de algoritmos de avaliação de fundos de capital de risco, introduzindo aperfeiçoamentos em modelos de avaliação existentes. Modelos de avaliação tradicionais, como o Multilateral Investment Fund (MIF) utilizam o retorno histórico desta modalidade de investimentos na tentativa de estimar a performance do fundo. O objetivo desta dissertação é adaptar o modelo de performance de fundos desenvolvido pelo MIF de forma a possibilitar uma análise de risco além do retorno esperado. Esta análise de risco será realizada através da avaliação de cada empresa investida pelo fundo. Assim, através da simulação do valor terminal destas empresas, será possível obter uma distribuição de retorno para cada investidor a partir do capital aportado no fundo. Tal instrumento será de grandevalia tanto na seleção de investimentos (permitindo que os investimentos sejam selecionados de acordo com o nível de exposição que o gestor deseja assumir), quanto no gerenciamento dos investimentos (permitindo que sejam tomadas decisões que maximizem o retorno esperado para os investidores).
Download or read book Risk reward Trade offs written by Richard Staelin and published by . This book was released on 1974 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book VC written by Tom Nicholas and published by Harvard University Press. This book was released on 2019-06-03 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: From nineteenth-century whaling to a multitude of firms pursuing entrepreneurial finance today, venture finance reflects a deep-seated tradition in the deployment of risk capital in the United States. Tom Nicholas’s history of the venture capital industry offers a roller coaster ride through America’s ongoing pursuit of financial gain.
Download or read book Risk Appraisal and Venture Capital in High Technology New Ventures written by Gavin C. Reid and published by Routledge. This book was released on 2007-09-06 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Appealing to both mainstream and evolutionary economists, this book, written by an author with an excellent track record, is acrossover treatment of quantitative and qualitative risk analysis within the setting of new high technology ventures.
Download or read book Venture Capital Private Equity Program written by LLC Gifted at Play and published by . This book was released on 2023-01-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Venture Capital The foundations of venture capital can be traced back to the 1950s and 1960s, when a small group of investors began to provide funding to early-stage technology companies. The concept of venture capital as we know it today began to take shape during this period as these investors began to formalize their investment strategies and raise funds from institutional investors and high net-worth individuals. One of the key foundations of venture capital is the focus on high-growth, early-stage companies. VC firms typically invest in startups and small businesses that have unique technologies, products, or business models that have the potential to generate substantial returns. Another key foundation of venture capital is the equity stake that VC firms take in the companies they invest in. In exchange for providing funding, VC firms typically receive an ownership stake in the company, which gives them a share of the profits and losses. This aligns the interests of the VC firm and the company, as both are working towards the same goal of creating a successful and profitable business. Networking and mentorship are also important foundations of venture capital. Venture capital firms often have a strong network of industry contacts and can provide valuable resources such as management expertise, business connections, and strategic guidance to help the companies they invest in succeed. The idea of exits is also a foundation of venture capital. Venture capital firms typically aim for significant returns on their investments, and they typically exit their investments through a sale of the company or an initial public offering (IPO). This can be a significant source of returns for investors and can help to fuel the growth of the venture capital industry. Finally, the foundation of venture capital is the understanding of risk and reward. It's a high-risk, high-reward form of investing. While many venture-backed companies fail, a small number of them can generate substantial returns for investors. Overall, the foundations of venture capital include a focus on high-growth, early-stage companies, an equity stake in the companies, networking, mentorship, exits, and the understanding of risk and reward.
Download or read book Risk vs Rewards in Driving Capital Movement written by Nikhil Kamath and published by IndraStra Papers. This book was released on 2019-10-24 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book begins with two hard truths about investment risks and rewards - one is that despite a general understanding of what we would like our rewards to be, the risk is mostly what we don’t see coming, until we do. The other is that from the crazy, unseen, unknown, disconnected, and counterintuitive unpredictabilities, we can extract lasting and impactful rewards. A necessity, after all, has always been the mother of all inventions. Unpredictability is the inflection point for new opportunities. Rewards only lie in how well you react to those risks, measure them, learn from them, and create fresh possibilities.
Download or read book Raising Venture Capital written by Rupert Pearce and published by John Wiley & Sons. This book was released on 2006-02-22 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a deep insight into the venture capital deal-making process, Raising Venture Capital also provides valuable introduction to the subject. The book is practical in focus but based on sound academic theory, research and teaching materials gathered over the last 4 years at Tanaka Business School. Part one covers the history of the venture capital industry, shows why entrepreneurs need venture capital finance, and looks at how venture capitals raise and structure their funds. It also covers valuation methods for venture capital investments, and portfolio management. Part two illustrates how successful entrepreneurs raise finance from venture capitals, and gives details on how to approach venture capitals, how to choose the right venture capital firm, and how venture capitals and entrepreneurs work together after the deal is done. Part three gives a blow-by-blow account of the structure of a venture capital deal.
Download or read book Risk and Reward written by Yutian Li and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first essay of this dissertation is about the Catastrophe bond. The catastrophe bond market is a good place to reveal how investors think about the climate risk in the mid-term foreseeable future. By studying catastrophe bond market transaction data, I find out that investors treat climate related bonds and non-climate related bonds differently. The yield difference between short-term climate related bonds and mid-term climate related bonds is significantly higher than the yield difference between short-term non-climate related bonds and mid-term non-related bonds. This yield difference is not caused by annual climate seasonality, different local property value growths, and different term structures. Tests on the implied hazard rate of catastrophe bonds show similar results. I also find that the difference in yield difference between climate related bonds and non-climate related bonds gets larger after some major climate related disaster events happened between the year 2017 and the year 2018, which indicates that this difference could be connected to the investors' perception of the uncertainty of future climate situations. The second essay of the dissertation is related to venture capital. It addresses the necessity and benefits of expanding venture capital fund's investment selection pool geographically. We find out that funds with high expertise concentration levels tend to invest further away than funds with relatively low expertise concentration levels, especially when funds are not located in California. What's more, our results show that funds with larger geographic coverage outperform others, and funds with high expertise concentration levels outperform funds with relatively low expertise concentration levels in general. The out-performance is consistent across all funds' spectrum. Last but not least, we find that funds' faraway investments outperform their own nearby investments in terms of excess IPO rate and excess fail rate, which can provide a useful guideline for venture capital funds.
Download or read book Corporate Venture Capital and the Balance of Risks and Rewards for Portfolio Companies written by Markku V. J. Maula and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper contributes to the literature on corporate venture capital (CVC) by examining the management of CVC investments from the perspective of the investee firm. We focus on the trade-off between social interactions and relationship safeguards and examine their effects on the twin relationship outcomes of learning benefits and risks. The model is tested using data collected from CEOs of U.S. technology-based new firms receiving CVC funding. Complementarities between the investee firm and its CVC investor are positively related to the level of social interaction and negatively related to the use of different types of relationship safeguards by the investee firm. The use of safeguards is further negatively related to both realized relationship risks and social interaction. Social interaction is positively related to realized learning benefits. These findings highlight the fine balance that the investee firm has to strike between openness and self protection in a CVC relationship. Implications for future research and current practice are discussed.
Download or read book Venture Capital For Dummies written by Nicole Gravagna and published by John Wiley & Sons. This book was released on 2013-08-15 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: Secure venture capital? Easy. Getting a business up and running or pushing a brilliant product to the marketplace requires capital. For many entrepreneurs, a lack of start-up capital can be the single biggest roadblock to their dreams of success and fortune. Venture Capital For Dummies takes entrepreneurs step by step through the process of finding and securing venture capital for their own projects. Find and secure venture capital for your business Get your business up and running Push a product to the marketplace If you're an entrepreneur looking for hands-on guidance on how to secure capital for your business, the information in Venture Capital For Dummies gives you the edge you need to succeed.
Download or read book Venture Capital Investing written by David Gladstone and published by FT Press. This book was released on 2004 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at how investors can reduce unnecessary risk by assessing business proposals and building partnerships with portfolio companies.
Download or read book Venture Capital and Buyouts written by Brian Coyle and published by Psychology Press. This book was released on 2000 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: First Published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.
Download or read book Venture Capital written by Mike Wright and published by Routledge. This book was released on 2022-03-24 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Library of Management is a comprehensive core reference series comprised of the most significant and influential articles by the leading authorities in the management studies field. The collections of essays is both international and interdisciplinary in scope and provides and entry point for investigating the myriad of study within the discipline.
