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The Syndication Network And Deal Flow Of Venture Capital Firms
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Book Synopsis The Syndication Network and Deal Flow of Venture Capital Firms by : Malte Brettel
Download or read book The Syndication Network and Deal Flow of Venture Capital Firms written by Malte Brettel and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the positions that Venture Capital firms hold in a syndication network and determines the effect that network positions have on generating deal flow quantity and quality. Using data on syndicated investments in the German venture capital market and data on the deal flow of the firms, we show that those firms that hold network positions characterized by network openness have a higher deal flow quantity and quality.
Book Synopsis Syndication of Venture Capital Investments by : Finn Rieder
Download or read book Syndication of Venture Capital Investments written by Finn Rieder and published by diplom.de. This book was released on 2003-09-03 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: Cooperation among financial institutions is a persistent feature of the equity issuance process. Also, the syndication of venture capital investments is common practice among venture capitalists. Despite the importance of syndication, surprisingly little is known on the motives and structure of syndication. Further-more, there is hardly any empirical evidence for Europe or particularly Germany on the syndication behaviour of VC organisations and the factors influencing their overall propensity to co-invest. On the one hand, the purpose of this paper is to compile and summarise all aspects of the existing theory on VC syndication. Therefore, the evidence from the few empirical studies that were so far carried out on this topic is discussed. Thus, the general theory on syndication, which is thought to be independent from peculiar VC industries, serves as the framework throughout this paper which is complemented by the results of the empirical analyses done so far by different authors. On the other hand, this text has also an explorative component where it is analysed if and to what degree findings of the existing studies also hold for the German VC market. This analysis is done by the use of a data base listing a total of 3,230 VC investments in German portfolio companies. The nature of the data base at hand is not designed to allow for conclusions on all relevant aspects of syndication. But the claim of this paper is to use and analyse it whenever it is possible and the data base can be linked to aspects on syndication discussed throughout the different chapters. Firstly, this paper gives a theoretical overview on general motives behind VC syndication which leads to a discussion which rational is more important in explaining VC syndicates and if there are differences between the North American and European VC market with regards to this. Then, as the principal part of this paper, various factors influencing the propensity of VC investors to syndicate are analysed and, whenever possible and appropriate, also reviewed based on the data base. The next part examines the process of forming and managing a syndicate, after the decision to co-invest a deal was made built upon the motives and factors of influence, and to what extent networking activities play a role in it. After this, it is discussed if syndicates enhance the firm value If the portfolio company and whether there is a difference between the value added of syndicates [...]
Book Synopsis Network, Network Position and the Deal Flow of Venture Capital Firms by : Ingo Böhner
Download or read book Network, Network Position and the Deal Flow of Venture Capital Firms written by Ingo Böhner and published by . This book was released on 2007 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Syndication Networks and Investment Activity in the Venture Capital Industry by : Jochen Christian Werth
Download or read book Syndication Networks and Investment Activity in the Venture Capital Industry written by Jochen Christian Werth and published by . This book was released on 2014 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wide-spread use of syndication among venture capital investors has led to the creation of extensive co-investment networks which may in turn affect syndication and investment activity. Using an extensive ten year panel data set of 3,797 venture capital and 1,290 angel investors, this study finds that investors with more direct contacts, in particular with later stage investors, exhibit higher deal flow and faster extend their network. Linking syndication motives to certain network structures allows for inferring on the significance of syndication rationales. Accessing (complementary) resources appears to be the strongest incentive to syndicate, whereas deal sourcing and especially reciprocity considerations appear relatively weak syndication motives. Thereby, using syndicated financing to overcome resource constraints appears even more pivotal for early stage angel investors.
Book Synopsis Venture Capital Networks by : Cristiano Bellavitis
Download or read book Venture Capital Networks written by Cristiano Bellavitis and published by Business Expert Press. This book was released on 2017-12-12 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the venture capital (VC) industry, firms often co-invest with other peers in syndicated deals. The process of syndication is a form of investment alliance that generates networks of VC firms and start-up companies. Despite the prominent role played by syndicates, extant entrepreneurship literature found contradicting evidence on the relationship between the practice of syndication and the performance of both the start-up and the investors. In fact, our understanding of the circumstances under which syndicates have the potential to boost performance, rather than hamper them, is still limited. This book intends to fill this gap and explore the performance dynamics surrounding networks in the venture capital industry. The text also provides introductory knowledge to those interested in network studies and methods.
Book Synopsis Angel Financing by : Gerald A. Benjamin
Download or read book Angel Financing written by Gerald A. Benjamin and published by John Wiley & Sons. This book was released on 1999-11-02 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your guardian angel has arrived Capital is the single most important factor to getting your venture off the ground, but finding it can be a challenge, particularly if you're running out of funding options. Suppose your venture is too small for institutional players. What do you do once you've exhausted your personal financial resources? Where do you go after banks, the leasing companies, the venture capital firms, have turned you down? What you need is an "angel"--a private investor with high net worth. Angel Financing--the only book of its kind--provides you with a road map to this valuable, little known, source of capital financing. Explains the structure of the direct private capital market Covers everything from the valuation process to writing an investor-oriented business plan
Book Synopsis Venture Capital Strategy: How to Think Like a Venture Capitalist by : Patrick Vernon
Download or read book Venture Capital Strategy: How to Think Like a Venture Capitalist written by Patrick Vernon and published by . This book was released on 2018-08-15 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise from Jason Mendelson (auth. Venture Deals), "Patrick brings an educator's perspective and an entertainer's sensibilities to his overview of venture capital." An approachable but disciplined overview of venture capital written by a professional musician turned business school professor over a 15-year period of teaching venture capital and startup classes at UNC Kenan-Flagler Business School. The book is a one-stop shop for understanding venture capital, distilling lessons from hundreds of interactions with VCs and founders. Readers of the book will learn: The core competencies of successful VCs What VC's are looking for in startups How venture capital differs from other forms of startup financing How the sharks on TV's Shark Tank are ruining venture capital The top two terms on any term sheet (and a few other key terms) Why VCs often behave like music industry professionals How to think like a VC Understanding how venture capital works in our economy can be of benefit to a wide variety of readers, from entrepreneurs to corporate decision-makers and everyone in between. This book treats venture capital as a topic of entrepreneurial strategy, not finance, and includes a background of the industry, an explanation of all aspect of the "VC Job Cycle" and a framework called "VC Razor" for performing due diligence. Learning how to think like a venture capitalist can help anyone become a better decision-maker. "Well organized, clearly articulated, this volume spans the gamut from beginner's overview to expert's guidebook. Venture Capital has never been more important, and this volume could not have been more timely." Jerome Engel, UC Berkeley Haas School of Business "Patrick lays out important concepts and insights in an easy to understand and digest form. As he clearly articulates in the book, the way that venture capitalists think is valuable to anyone in business." John F. Clarke, Dean of Graduate Programs, Tulane University Why Write Another Venture Capital Book? From the author: Over the years as I have taught venture capital classes and run a worldwide venture capital competition, I have struggled to find materials for my students. I have been frustrated by the simultaneous abundance and lack of available content. There is an abundance of terrific blogs written by VCs and founders, often teaching specific lessons derived from specific situations. Many VCs are prolific writers and have covered a wide variety of topics of the VC investment process. However, most blog postings have a very narrow scope, and they are not organized into a coherent body of work. They go deep in the weeds, but the forest gets lost. Similarly, there is also an abundance of textbooks that treat venture capital as a topic of finance. Wrong forest! Venture capital is undeniably a subset of private equity. However, approaching the industry from that perspective ignores the vast majority of what VCs actually do. If you would like to study venture capital as a finance subject, there are many other books that will serve you better than this one. Treating venture capital as a topic of finance overemphasizes the importance of numbers. For VCs, number play a large role, but just as important is the story about the numbers. In this regard, I will argue that VCs are more like journalists and filmmakers than financiers. What I have not been able to find is a holistic overview of venture capital as a topic of strategy, explaining its place in the broader entrepreneurial ecosystem. It is not simply entrepreneurial finance! VCs play a very important strategic role in commercializing technologies. Just as importantly, they employ specific strategies that we can learn and apply to our own entrepreneurial circumstances.
Book Synopsis The First Deal Might Be the Last by : Miguel Angel Campo-Rembado
Download or read book The First Deal Might Be the Last written by Miguel Angel Campo-Rembado and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous analysis of venture capital activity in Silicon Valley has highlighted the role of venture capital syndication as a mechanism through which venture capitalists (VCs) build trusting relationships within the investment venture capital community. But what are the dynamic properties of the resulting network? This paper analyzes the dynamics of syndicated deals in technology sectors. The results suggest that VCs build reputation by committing to provide future funds in a staged deal and honoring their commitment. Reputation increases cooperation, in terms of access to 'deal flow'. The commitment to provide future funding, however, is expensive in terms of the opportunity costs associated with a reduction in the number of new startups in which they can participate. The reputation system is enforced by established VCs, who have more exposure to the 'deal flow'
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 Is Venture Capital a Local Business?: A Test of the Proximity and Local Network Hypotheses by : Robert Wuebker
Download or read book Is Venture Capital a Local Business?: A Test of the Proximity and Local Network Hypotheses written by Robert Wuebker and published by . This book was released on 2012 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.
Book Synopsis International Venture Capital Firms Syndication and Performance by : Amir Pezeshkan
Download or read book International Venture Capital Firms Syndication and Performance written by Amir Pezeshkan and published by . This book was released on 2015 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
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 245 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 A Social Network Analysis of Corporate Venture Capital Syndication [electronic Resource] by : Zheng, Ju Kimberly
Download or read book A Social Network Analysis of Corporate Venture Capital Syndication [electronic Resource] written by Zheng, Ju Kimberly and published by University of Waterloo. This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of social capital can be characterized by a well-known quote: "it's not just what you know, but whom you know". Firms with rich social capital are more informed, more capable, and more competitive, because networks of resources are within their reach. Social capital is embedded in social networks, and social network analysis is the chief topic of this research. The network being examined contains 1126 venture capital (VC) programs, 206 of them being corporate venture programs, and the rest consisting of independent venture capital firms. Venture programs co-invest in portfolio firms following an identifiable pattern. This research attempts to explain this co-investment pattern using social network analysis. Four attributes of social networks are explored during this analysis: prominence, range, brokerage, and cohesion. The findings of the corporate venture capital network provide a number of implications for the theory of social capital. The objective of the thesis is using social capital to examine the syndication patterns in a corporate VC network. The analysis of the corporate VC co-investment pattern supports four hypotheses. First, the corporate VC network is not cohesive. Second, most relationships in the network are indirect. Third, most prominent VCs are also the most powerful resource brokers in the network. Lastly, prominent VCs are likely to syndicate with other prominent VCs.
Book Synopsis Venture Capital by : Douglas Cumming
Download or read book Venture Capital written by Douglas Cumming and published by John Wiley & Sons. This book was released on 2010-04-29 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues addressed include sources of capital-such as angel investment, corporate funds, and government funds-financial contracts and monitoring, and the efficiency implications of VC investment, to name a few. Opens with a review of alternative forms of venture capital Highlights the structure of venture capital investments Examines the role venture capitalists play in adding value to their investee firms This informative guide will help you discover the true potential of venture capital.
Download or read book Private Equity written by Douglas Cumming and published by John Wiley and Sons. This book was released on 2009-12-31 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive look at the private equity arena With private equity differing from other asset classes, it requires a whole new approach for those trained in more traditional investments such as stocks and bonds. But with the right guidance, you can gain a firm understanding of everything private equity has to offer. This reliable resource provides a comprehensive view of private equity by describing the current state of research and best practices in this arena. Issues addressed include the structure of private equity funds and fundraising, the financial and real returns of private equity, and the structure of private equity investments with investees, to name a few. Discusses the role of private equity in today's financial environment Provides international perspectives on private equity Details the regulation of private equity markets Filled with in-depth insights and expert advice, this book will provide you with a better understanding of private equity structures and put you in a better position to measure and analyze their performance.
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