Pearce / Barnes Raising Venture Capital

1. Auflage 2006
ISBN: 978-0-470-03276-3
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 258 Seiten, E-Book

Reihe: Wiley Finance Series

Offering a deep insight into the venture capital deal-makingprocess, Raising Venture Capital also provides valuableintroduction to the subject. The book is practical in focus butbased on sound academic theory, research and teaching materialsgathered 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 athow venture capitals raise and structure their funds. It alsocovers valuation methods for venture capital investments, andportfolio management.
Part two illustrates how successful entrepreneurs raise financefrom venture capitals, and gives details on how to approach venturecapitals, how to choose the right venture capital firm, and howventure capitals and entrepreneurs work together after thedeal is done.
Part three gives a blow-by-blow account of the structure of aventure capital deal.

Autoren/Hrsg.

Pearce, Rupert

Barnes, Simon

Inhaltsverzeichnis

Preface xiii
Part I The Business of Venture Capital 1
1 Entrepreneurs and Venture Capitalists 3
2 Other People's Money 9
3 The Limited Partnership 15
4 The Competitive Environment 25
5 The VC's Investment Model 31
Part II Accessing Venture Capital 49
6 Introduction to Part II 51
7 Is Venture Capital the Right Option? 53
8 Choosing a VC Firm 59
9 The Entry Point 65
10 The Investment Process 71
11 Preparing for the Investment Process 81
Part III The VC Term Sheet 99
12 Introduction to Term Sheets 101
13 Business Valuation 121
14 Investment Structure 123
15 Syndication 125
16 Investment Milestones 129
17 Corporate Governance 139
18 Equity Participation 147
19 Share Incentives 169
20 Share Vesting 175
21 Pre-emption Rights on Securities Issues 185
22 Anti-dilution Rights 191
23 Provisions Relating to Share Transfers 203
24 Deal Management Terms 219
Index 229

Über Autor(innen)

RUPERT PEARCE joined Inmarsat in 2005 as Group GeneralCounsel. Inmarsat is the world's leading mobile satellitecommunications provider and recently underwent a $1,500 millionleveraged buy-out by Apax and Permira and subsequent $3,000 millionIPO on the London Stock Exchange. Inmarsat is now well-establishedin the FTSE 250. Prior to joining Inmarsat, Rupert was a GeneralPartner at Atlas Venture, the leading transatlantic venture firm,responsible for corporate finance, mergers & acquisitions andspecial situations. He also served as Atlas Venture'sEuropean COO. Prior to Atlas Venture, Rupert was a partner at theinternational law firm Linklaters, specializing in corporatefinance, mergers & acquisitions, technology and private equity.Rupert has therefore experienced private equity and venture capitaltransactions from the perspectives of investor, adviser and memberof management. As a founder of Out-Take Limited, an on-linepublisher, he has also dabbled in entrepreneurship.
Rupert holds a First Class MA in Modern History from OxfordUniversity and won the 1995 Fullbright Fellowship in US SecuritiesLaws, studying at Georgetown Law Centre, Washington DC.
SIMON BARNES is Director of the Entrepreneurship Centre,and Deputy Director of the Full Time MBA programme at the TanakaBusiness School, Imperial College London. He teaches electives innew venture creation and venture capital finance on the MBA, MScFinance and MSc Health Management as well as courses for thefaculty of Imperial College's science and technologydepartments. His research at Imperial focuses on technologyentrepreneurship and venture capital, with an emphasis on thedevelopment of university spin outs and technology ventures. Simonhas six years of hands on experience in the venture capitalindustry, first with the transatlantic firm Atlas Venture and mostrecently with GIMV Venture Capital where he invested in early stagebiotechnology companies. He has been a board director of several VCbacked ventures, and lived through two M&A transactions atboard level.
Simon received a first class honours degree and a PhD from TheUniversity of Cambridge. He holds an MBA with Distinction from theTanaka Business School, Imperial College London, and was the winnerof the European MBA Business Plan of the Year Competition in1998.