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Acquisition And Ipo Strategies For Vc Backed Companies
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Book Synopsis Acquisition and IPO Strategies for VC-backed Companies by :
Download or read book Acquisition and IPO Strategies for VC-backed Companies written by and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides insider's perspectives on the best practices for venture capitalists who are pursuing an exit. The essays discuss the internal and external factors in timing an exit, as well as strategies for evaluating potential profitability.
Book Synopsis Venture Capital Exit Strategies (Inside the Minds): Leading VCs from Three Arch Partners, Innovacom, JVP and More on Exit Strategies for Entrepreneurs and Management Teams Including M&A, IPOs, and Other Options by : Aspatore Books Staff
Download or read book Venture Capital Exit Strategies (Inside the Minds): Leading VCs from Three Arch Partners, Innovacom, JVP and More on Exit Strategies for Entrepreneurs and Management Teams Including M&A, IPOs, and Other Options written by Aspatore Books Staff and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Venture Capital Works by : Phillip Ryan
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.
Book Synopsis IPOs of Venture Capital Backed Ventures by : Christian Mehrer
Download or read book IPOs of Venture Capital Backed Ventures written by Christian Mehrer and published by GRIN Verlag. This book was released on 2003-11-02 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2002 im Fachbereich BWL - Investition und Finanzierung, Note: 1,3, European Business School - Internationale Universität Schloß Reichartshausen Oestrich-Winkel (-), Veranstaltung: Seminar des Wahlpflichtfaches Finanzierung und Banken, Sprache: Deutsch, Abstract: The topic of this paper is the difference of venture capital (VC) backed initial public offerings (IPOs) and non backed IPOs and the share price performance of the companies after the IPO. Compared to non-backed IPOs, VC backed IPOs consist on average of younger and less profitable firms. Nevertheless, VC backed companies have better underwriters, more institutional investors and less underpricing (i.e. a discount on the initial share price due to asymmetrical information). It is therefore considered that the venture capitalist (VCist) has an important impact on the share price performance of the young firm due to his certification role. By screening and mentoring the backed venture in earlier stages of the VC cycle, he can well assess the business’ opportunities. Thus, if he invests in the venture and keeps shares after the IPO, he can proof credibility to other investors (credibility hypothesis). However, younger VCists tend to bring companies too quickly to the stock markets, because they need an IPO for building up a reputation (grandstanding hypothesis). This may be adverse to the venture. Our findings also outline that there is no clear advantage of VC-backed firms on the long-run. Thus, we conclude that it is not only important to think about a VC backing, but also about the VCist that is backing. Choosing the wrong VCist may even have a negative impact on the company’s future.
Book Synopsis Do Corporate Venture Capitalists Add Value to Startup Firms? Evidence from IPOs and Acquisitions of VC-Backed Companies by : Vladimir I. Ivanov
Download or read book Do Corporate Venture Capitalists Add Value to Startup Firms? Evidence from IPOs and Acquisitions of VC-Backed Companies written by Vladimir I. Ivanov and published by . This book was released on 2009 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do corporate venture capitalists (CVCs) add value to startup companies? We present evidence that they do, but under one condition: when the startups have a strategic fit with the parent corporations of CVCs. We show that CVCs provide a variety of services and support that appear to suit the specific needs of startups operating in different industries. We find that startups with CVC backing obtain higher valuations at the IPO than those without, and that the higher valuations concentrate in startups that have a strategic fit with CVC parent corporations. This positive effect of strategic CVC backing is robust to correcting for the endogeneity of CVC backing, is not driven by the superior project selection ability of CVCs, is over and beyond the effect of general corporate alliances, and is not reversed in the long run. We also find that CVC-backed targets receive higher takeover premiums in acquisitions, again only when there is a strategic relation between the targets and the CVC parents. Overall, our findings support the conclusion that CVCs can add value when they make strategically oriented investments in entrepreneurial companies.
Book Synopsis Venture Capital and the Finance of Innovation by : Andrew Metrick
Download or read book Venture Capital and the Finance of Innovation written by Andrew Metrick and published by John Wiley and Sons. This book was released on 2011-06-15 with total page 1153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This useful guide walks venture capitalists through the principles of finance and the financial models that underlie venture capital decisions. It presents a new unified treatment of investment decision making and mark-to-market valuation. The discussions of risk-return and cost-of-capital calculations have been updated with the latest information. The most current industry data is included to demonstrate large changes in venture capital investments since 1999. The coverage of the real-options methodology has also been streamlined and includes new connections to venture capital valuation. In addition, venture capitalists will find revised information on the reality-check valuation model to allow for greater flexibility in growth assumptions.
Book Synopsis The Oxford Handbook of IPOs by : Douglas Cumming
Download or read book The Oxford Handbook of IPOs written by Douglas Cumming and published by Oxford University Press. This book was released on 2018-11-15 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial public offerings (IPOs), or new listings of companies on stock exchanges, are among the most important form of finance and generate considerable attention and excitement. They are used to raise capital or to monetize investments by the early generation of venture capital and other private investors. They are increasingly international in scope and reach, especially with non-American firms offering on American stock exchanges. This handbook provides a comprehensive overview of why companies list on stock exchanges, how IPOs are regulated, initially valued, and their performance in the short and long run. The first part examines the economics of IPOs, and offers statistics and regulatory insights from the United States and other countries around the world. The volume then covers mergers versus IPOs, as well as reverse mergers and special purpose acquisition companies. Part III analyzes institutional ties in IPOs, including analysts, investment banks, auditors, and venture capitalists. The fourth section provides international perspectives on IPOs from a number of countries around the world. Part V discusses alternatives to IPOs, including private marketplaces, and crowdfunding. Reflecting the range of disciplines that analyze IPOs, the contributors come from the fields of finance, international business and management, economics, and law. The chapters cover the latest information on a range of fundamental questions that are of interest to academics, practitioners, and policymakers alike.
Book Synopsis Exit Choices of Venture-Backed Firms by : Eric R. Ball
Download or read book Exit Choices of Venture-Backed Firms written by Eric R. Ball and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine IPO and acquisition waves, exit choices, and pre-money valuations at exit for 7082 venture-backed private companies over the 19-year period from 1978 through 2006. Consistent with other literature, we hypothesize that levels of IPO and acquisition activity and the choice between IPO and acquisition may be affected by (i) market timing or investor sentiment, (ii) variations in the importance of information asymmetry, (iii) variations in the intensity of capital demand, and (iv) variations in the relative cost of the alternatives. Based on either the full sample, or sector-specific subsamples, we find that IPOs are selected during periods when market-wide demand for growth capital is high, adverse selection costs of equity issues are low, and the value of protecting private information is low. The evidence also is consistent with the view that IPO issuance is subject to high fixed cost compared to acquisition. We find no consistent support for the hypothesis that issuers are more likely to select IPOs during periods when the market is over-heated such that subsequent market returns are negative. Puzzlingly, acquisition activity does tend to peak before market declines. Evidence on the relation between pre-money value and exit activity indicates that adjustments in the IPO market are mainly to the numbers of firms going public whereas adjustments in the acquisition market are mainly to value.
Book Synopsis Venture Capital, Private Equity, and the Financing of Entrepreneurship by : Josh Lerner
Download or read book Venture Capital, Private Equity, and the Financing of Entrepreneurship written by Josh Lerner and published by Wiley Global Education. This book was released on 2023-04-27 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the newly revised second edition of Venture Capital, Private Equity, and the Financing of Entrepreneurship, a dedicated team of researchers and professionals delivers an authoritative and comprehensive account of the world of active investing. This important work demonstrates how venture capitalists and private equity investors do business and create value for entrepreneurs, shareholders, and other stakeholders. The authors, drawing on decades of combined experience studying and participating in the private equity markets, discuss the players, dynamics, and the incentives that drive the industry. They also describe various possibilities for the future development of private equity. This latest edition is perfect for advanced undergraduate students of finance and business, as well as MBA students seeking an insightful and accessible textbook describing the private equity markets.
Book Synopsis Venture Capital For Dummies by : Nicole Gravagna
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.
Book Synopsis The Raising Venture Capital for Software Companies Collection by : Aspatore Books
Download or read book The Raising Venture Capital for Software Companies Collection written by Aspatore Books and published by . This book was released on 2006-04-01 with total page 3000 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Raising Venture Capital for Software Companies Collection is the definitive resource for software venture capital and the only reference material you will need for securing venture capital, working with VCs, understanding, drafting and negotiating deals or whatever your initiative might be in your partnership with venture capitalists. The collection features twelve books, video leadership seminars and VC software, all providing a thorough examination of every aspect of venture capital in the software arena. Within these 3,000+ pages lies a wealth of critical information that every executive of a software company looking to raise capital should have at their fingertips. The volumes feature a plethora of expert analysis and indispensable advice on negotiation points and tactics from leading partners at top venture capital firms, and many texts also include the insights of top attorneys in the venture capital arena from such firms as Manatt, Phelps & Phillips, Hunton & Williams, Reed Smith and many more. In addition, the collection includes examples of 50+ legal documents which delineate and govern venture-based transactions. The Raising Venture Capital for Software Companies is guaranteed to pay for itself time and again by providing you with the best, proven strategies to help you secure funding for your software company and expertly guide you through the steps that will follow. The collection includes: 1) Executive Reports: Software Company Exit Strategies - Industry Experts on Strategies for IPOs, Mergers and Acquisitions, Valuations, and More;2) Software Leadership Strategies: CRM, Integration, ERP, & Storage Solutions CEOs Offer Best Practices & Keys to Success in the Software Industry;3) Inside the Minds: The Software Business ? Industry Leaders from Sybase, Inc., Business Objects, Quark Inc. & More on Designing, Developing & Selling Successful Products & Applications;4) Doing Deals in the Software Industry: Top Executives on Partnerships, Financings, M&A and More;5) The Lifecycle of a Technology Company: Financing Options - The Best Ways to Secure Funding for an IT Venture;6) Executive Reports: Establishing Valuations for Software Companies;7) Pitching to Venture Capitalists - Essential Strategies for Approaching VCs, Entering Into Negotiations and Securing Funding - Written by Leading VC Patrick Ennis;8) Raising Capital for Entrepreneurs - Industry Insiders on Venture Capital, Angel Funding & Growth Money from Private Investors; 9) Term Sheets & Valuations - Line by Line Descriptions of Each Clause and Negotiation Points; 10) Deal Terms - The Finer Points of Venture Capital Deal Structures, Valuations, Stock Options and Getting Deals Done; 11) Venture Debt Alternatives and Evaluation Guidelines - A Comprehensive Look at the Venture Debt Marketplace Along With a Systematic Framework for Approaching the Debt Capital Markets, Increasing Transaction Transparency and Avoiding Common, Costly Mistakes; 12) Venture Capital Best Practices - Leading VCs & Lawyers Keys to Success in Doing Venture Capital Deals with Management Teams; 13) Compensation Structures for Venture Backed Companies - How VCs Want to See the Structure of Management & Employee Compensation, Stock Options, Retirement, Debt & Bonus Plans;14) The Role of Board Members in Venture Backed Companies - Rules, Responsibilities and Motivations of Board Members - From Management & VC Perspectives; 15) Venture Capital Valuations - Top VCs on Step-by-Step Strategies and Methodologies for Valuing Companies at All Stages;16) The Venture Capital Legal Handbook - Industry Insiders on the Laws and Documents that Govern VC Deals, Raising Capital, M&A and More - Includes Every Major Document Used in Pre & Post Funding VC Deals With Analysis & Negotiation Points - Save Thousands in Legal Fees; 17) The Venture Capital Documents CD-Rom - CD-Rom of Every Major Venture Capital Document/Legal Agreement - Ready to Use & Customize in MS Word;18) Venture Capital Financial Modeling - The Industry Standard Book on Venture Capital Modeling, featuring Top VC Praveen Gupta on Valuation Modeling, Dilution Modeling, Investment Return Analysis Modeling & Exit Analysis Modeling. Entire book on CD-Rom, & includes interactive spreadsheets in Excel.
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 Venture Deals written by Brad Feld and published by John Wiley & Sons. This book was released on 2011-07-05 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging guide to excelling in today's venture capital arena Beginning in 2005, Brad Feld and Jason Mendelson, managing directors at Foundry Group, wrote a long series of blog posts describing all the parts of a typical venture capital Term Sheet: a document which outlines key financial and other terms of a proposed investment. Since this time, they've seen the series used as the basis for a number of college courses, and have been thanked by thousands of people who have used the information to gain a better understanding of the venture capital field. Drawn from the past work Feld and Mendelson have written about in their blog and augmented with newer material, Venture Capital Financings puts this discipline in perspective and lays out the strategies that allow entrepreneurs to excel in their start-up companies. Page by page, this book discusses all facets of the venture capital fundraising process. Along the way, Feld and Mendelson touch on everything from how valuations are set to what externalities venture capitalists face that factor into entrepreneurs' businesses. Includes a breakdown analysis of the mechanics of a Term Sheet and the tactics needed to negotiate Details the different stages of the venture capital process, from starting a venture and seeing it through to the later stages Explores the entire venture capital ecosystem including those who invest in venture capitalist Contain standard documents that are used in these transactions Written by two highly regarded experts in the world of venture capital The venture capital arena is a complex and competitive place, but with this book as your guide, you'll discover what it takes to make your way through it.
Book Synopsis The Oxford Handbook of Venture Capital by : Douglas Cumming
Download or read book The Oxford Handbook of Venture Capital written by Douglas Cumming and published by Oxford University Press. This book was released on 2012-04-20 with total page 1126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Venture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VC`s interest and write-offs (liquidations). The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.
Book Synopsis Venture Capital and the Incorporation Decisions of IPO Firms by : Thomas Jason Boulton
Download or read book Venture Capital and the Incorporation Decisions of IPO Firms written by Thomas Jason Boulton and published by . This book was released on 2011 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether IPO firms backed by venture capital investors are more likely to incorporate in states that are takeover friendly. Venture capital firms benefit when their portfolio companies are subject to the discipline of the corporate control market. State-level antitakeover statutes diminish the effectiveness of the corporate control market by making firm acquisition more costly. I find that venture capital-backed IPO firms are more likely to incorporate in a takeover-friendly state, such as Delaware. State-level antitakeover statutes are effective takeover deterrents, as my results show that firms incorporated in takeover-friendly states are more likely to be acquired in the five years following their IPO. I also find that firms incorporated in takeover-friendly states have higher Tobin's Q values than firms incorporated in takeover-unfriendly states, suggesting that state-level antitakeover statutes negatively impact firm value.
Book Synopsis The Venture Capital Cycle by : Paul Alan Gompers
Download or read book The Venture Capital Cycle written by Paul Alan Gompers and published by MIT Press. This book was released on 2004 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The VC Funded Company Collection by : Aspatore Books Staff
Download or read book The VC Funded Company Collection written by Aspatore Books Staff and published by Aspatore Books. This book was released on 2005-11-01 with total page 2000 pages. Available in PDF, EPUB and Kindle. Book excerpt: The VC Funded Company Collection is the definitive resource for venture capital and the only reference material you will need for working with VCs, understanding, drafting and negotiating deals, exiting an investment, or whatever your initiative might be in your partnership with venture capitalists. The collection features ten books that collectively, provide a thorough examination of every aspect of venture capital. Within these 2,000+ pages lies a wealth of critical information, which every executive of a funded company should have at their fingertips. In addition, these volumes feature examples of 50+ legal documents which delineate and govern venture-based transactions, as well as a plethora of expert analysis and indispensable advice on negotiation points and tactics. Each book is authored by leading partners from top venture capital firms, including Bessemer Venture Partners, Venrock Associates, Mellon Ventures, Polaris Venture Partners, EuclidSR Partners, Battery Ventures, TA Associates, Motorola Ventures, Advanced Technology Ventures, Bertelsmann Ventures, and many more. The collection also highlights the insights of top attorneys in the venture capital arena from such firms as Manatt, Phelps & Phillips, Hunton & Williams, Reed Smith and many more. The collection includes the following books (at a savings of 40% off buying the titles individually the equivalent of getting 4 titles for free): 1.) Venture Capital Exit Strategies - Leading Venture Capitalists on Exit Strategies for Entrepreneurs & Management Teams Including M&A, IPOs and Other Options2.) Compensation Structures for Venture Backed Companies - How to Structure Management & Employee Compensation, Stock Options, Retirement, Debt & Bonus Plans3.) Director and Officer Indemnification and Insurance for VC Backed Companies - Leading Lawyer Tom Klein on Crucial Financial Protection for VC Professionals and Officers of Venture-Backed Companies4.) Term Sheets & Valuations - Line by Line Descriptions of Each Clause and Negotiation Points for Future Rounds of Funding5.) Deal Terms - The Finer Points of Venture Capital Deal Structures, Valuations, Stock Options and Getting Deals Done 6.) Venture Debt Alternatives and Evaluation Guidelines - A Comprehensive Look at the Venture Debt Marketplace Along With a Systematic Framework for Approaching the Debt Capital Markets, Increasing Transaction Transparency and Avoiding Common, Costly Mistakes - An Option Every Entrepreneur Should Consider in Addition to Venture Capital for Future Rounds of Funding7.) Venture Capital Best Practices - Leading VCs & Lawyers Keys to Success in Doing Venture Capital Deals with Management Teams8.) The Role of Board Members in Venture Backed Companies - Rules, Responsibilities and Motivations of Board Members - From Management & VC Perspectives9.) Venture Capital Valuations - Top VCs on Step-by-Step Strategies and Methodologies for Valuing Companies at All Stages10.) The Venture Capital Legal Handbook - Industry Insiders on the Laws and Documents that Govern VC Deals, Raising Capital, M&A and More - Includes Every Major Document Used in Pre & Post Funding VC Deals With Analysis & Negotiation Points - Save Thousands in Legal Fees
