" If you read only one guide to becoming a successful VC, this is the one to read."
, Chairman, National Venture Capital Association (NVCA)
"Captures the LP mindset succinctly--any GP or aspiring VCs can benefit from this book."
, Chairman, Institutional Limited Partners Association (ILPA)
"An immensely useful and comprehensive guide" --Mark Florman
, CEO, British Venture Capital Association (BVCA)
"a critical resource for the bookshelf of any practitioner or entrepreneur."
--Kelly M. Williams
, Managing Director and Head of Customized Fund Investment Group, Credit Suisse, a fund-of-funds with $27 billion under management
" packs the insights and wisdom of those who have done it, not once but multiple times."
, cofounder, Kleiner Perkins Caufield and Byers, one of the world's leading venture firms
From the Inside Flap
The definitive guide to demystifying the venture capital business, The Business of Venture Capital
covers the entire spectrum of this field, from raising funds and structuring investments to assessing exit pathways. It is the first book of its kind to focus on the four critical pillars of the venture capital business raising the fund, sourcing and structuring investments, creating value as a board member, and finally, leading investments to exits. Written by a practitioner for practitioners, the book provides the necessary breadth and depth, simplifies the jargon, and balances the analytical logic with experiential wisdom. Starting with a Foreword by Mark Heesen, President, National Venture Capital Association (NVCA), this important guide includes insights and perspectives from leading experts.
The Business of Venture Capital:
Covers the process of raising the venture fund, including identifying and assessing the Limited Partner universe; fund due-diligence criteria; and fund investment terms in Part One
Discusses the investment process, including sourcing investment opportunities; conducting due diligence and negotiating investment terms; adding value as a board member; and exploring exit pathways in Part Two
Offers insights, anecdotes, and wisdom from the experiences of best-in-class practitioners
Includes interviews conducted by Leading Limited Partners/Fund-of-Funds with Credit Suisse, Top Tier Capital Partners, Grove Street Advisors, Rho Capital, Pension Fund Managers, and Family Office Managers
Features the insights of over twenty-five leading venture capital practitioners, frequently featured on Forbes' Midas List of top venture capitalists, including Frank Caufield (cofounder, Kleiner Perkins Caufield and Byers), David Cowan (Bessemer Venture Partners), Todd Dagres (Spark Capital), Promod Haque (Norwest Venture Partners), Tim Draper (Draper Fisher Jurvetson), Brad Feld (Foundry Group), Mitch Lasky (Benchmark Capital), John Jarve (Menlo Ventures), Terry McGuire (Polaris Capital and former NVCA chair), Bryan Roberts (Venrock), and Bob Nelsen (ARCH Venture Partners)
Those aspiring to raise a fund, pursue a career in venture capital, or simply understand the art of investing can benefit from this book. The companion website offers various tools such as GP Fund Due Diligence Checklist, Investment Due Diligence Checklist, and more, as well as external links to industry white papers and other industry guidelines.