The First Venture Capitalists

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.

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.

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.

Get the Funding You Need From Venture Capitalists and Turn Your New Business Proposal into Reality Authoritative and comprehensive, Raising Venture Capital for the Serious Entrepreneur is an all-in-one sourcebook for entrepreneurs seeking venture capital from investors. This expert resource contains an unsurpassed analysis of the venture capital process, together with the guidance and strategies you need to make the best possible deal_and ensure the success of your business. Written by a leading international venture capitalist, this business-building resource explores the basics of the venture capital method, strategies for raising capital, methods of valuing the early-stage venture, and techniques for negotiating the deal. Filled with case studies, charts, and exercises, Raising Venture Capital for the Serious Entrepreneur explains: How to develop a financing map How to determine the amount of capital to raise and what to spend it on How to create a winning business plan How to agree on a term sheet with a venture capitalist How to split the rewards How to allocate control between founders/management and investors

Venture capitalists are the handmaidens of innovation. Operating in the background, they provide the fuel needed to get fledgling companies off the ground--and the advice and guidance that helps growing companies survive their adolescence. In Creative Capital, Spencer Ante tells the compelling story of the enigmatic and quirky man--Georges Doriot--who created the venture capital industry. The author traces the pivotal events in Doriot's life, including his experience as a decorated brigadier general during World War II; as a maverick professor at Harvard Business School; and as the architect and founder of the first venture capital firm, American Research and Development. It artfully chronicles Doriot's business philosophy and his stewardship in startups, such as the important role he played in the formation of Digital Equipment Corporation and many other new companies that later grew to be influential and successful. An award-winning Business Week journalist, Ante gives us a rare look at a man who overturned conventional wisdom by proving that there is big money to be made by investing in small and risky businesses. This vivid portrait of Georges Doriot reveals the rewards that come from relentlessly pursuing what-if possibilities--and offers valuable lessons for business managers and investors alike.

A little book full of enormous value for novices and seasonedventure capitalists alike After having been thrown for a loop by the bursting of the techbubble more than a decade ago, the venture capital industrysuddenly has come roaring back to life over the past two years. In2011 alone, more than $7.5 billion in venture capital wasinvested—representing more than a 19% increase overthe previous year—in more than 966 companies. A majorityof these companies reside in the life sciences, Internet, andalternative energy sectors. In today's weak job market, VC is more important than ever,since financing new tech, alternative energy, media, and othersmall to mid-sized companies is vital to creating new jobs. Writtenby Lou Gerken, a noted international authority on venture capitaland alternative investments, this book tells you everything youneed to know about the venture capital industry's important role inenhancing economic growth and employment. It is also the perfect goto primer on making venture capital investments to enhanceportfolio returns. Highly accessible explanations of the ins and outs of venturecapital for would-be investors and experienced VCs Highlights the historical VC track record, and offers expertadvice and guidance on venture capital exposure, investmentoptions, sourcing opportunities and due diligence Provides proven strategies for successful investment selection,timing, monitoring, and exiting for optimum returns Features endorsements from luminaries of the VC world,including Kleiner Perkins Caufield & Byers co-founder FrankCaulfield, and Dr. Art Laffer, among others

In eBOYS, Randall Stross takes us behind the scenes and inside the heads of the gutsy entrepreneurs who are financing the hottest businesses on the Web. The six tall men who started Benchmark, Silicon Valley's most exciting venture capital firm, put themselves at the cutting edge of the new economy by backing billion dollar start-ups like eBay and Webvan. The risks were enormous--but the rewards have proven to be staggering. Within two years, eBay's net worth grew from $20 million to more than $21 billion, while each Benchmark founding partner saw his own personal net worth soar by hundreds of millions of dollars. For two roller-coaster years, Stross had total access not only to Benchmark's executives but to the companies they financed. He was a fly on the wall as fortunes were made in an instant, snap decisions got locked in, and new ventures took off--and sometimes crashed. Here are the testosterone-pumped conversations, round-the-clock meetings, and gutsy deals that launched the eBoys and their clients into the stratosphere of mega-wealth. Written like a novel but absolutely true, eBOYS brings to vivid life the glory days of the greatest business adventure of our time.

An analysis of the venture capital process, from fund-raising through investing to exiting investments; a new edition with major revisions and six new chapters that reflect the latest research.