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The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring, Value Creation, and Exit Strategies Hardcover – October 25, 2011


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Product Details

  • Hardcover: 432 pages
  • Publisher: Wiley; 1 edition (October 25, 2011)
  • Language: English
  • ISBN-10: 0470874449
  • ISBN-13: 978-0470874448
  • Product Dimensions: 6.4 x 1.3 x 9.3 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (77 customer reviews)
  • Amazon Best Sellers Rank: #497,360 in Books (See Top 100 in Books)

Editorial Reviews

Review

" If you read only one guide to becoming a successful VC, this is the one to read."
--Paul Maeder, Chairman, National Venture Capital Association (NVCA)

"Captures the LP mindset succinctly--any GP or aspiring VCs can benefit from this book."
--Timothy Recker, 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."
--Frank Caufield, 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.


More About the Author

Mahendra Ramsinghani has invested in over fifty pre-seed and seed stage companies and has a decade of experience in fostering the growth of early-stage technology businesses. As Director - Venture Capital Initiatives for Michigan Economic Development Corporation (MEDC) Mahendra led the legislation for two Fund-of-Fund programs that deploy $200+ million in VC funds Michigan.

He is also the co-author of "Startup Boards" book (Wiley, 2014) with VC and author Brad Feld.

Mahendra's background includes a Bachelor's in Electronics Engineering and MBA with a major in Marketing & Finance. He lives with his wife, Deepa and daughter Aria in San Francisco, CA.

Customer Reviews

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I highly recommend this book to anyone who wants to either pursue a career in venture capital or simply understand the venture capital business.
Manisha Tayal
Mr. Ramsinghani does a great job in crafting the map with his knowledgeable insight, experience and network in the fascinating world of Venture Capital.
mouss
The anecdotes throughout the book also provide great real-world examples that make it incredibly easy to follow along with the topics discussed.
James

Most Helpful Customer Reviews

11 of 12 people found the following review helpful By Antonio Luck on May 22, 2012
Format: Hardcover
This book does not only expose all the intricacies of the venture capital industry and how to navigate it, but is also a clear demonstration of the author's experience and expertise in the industry; I always prefer books that are able to bring study and practice together.

I am one to make notes inside my books as well as use tabs and by the end my book looked like a highly decorated war general. I am sure I will be referring to it through many years to come. I would highly recommend "The Business of Venture Capital" to anyone who comes close to the VC Industry and even more so to anyone who would like to be a player in it.
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7 of 8 people found the following review helpful By Terry Cross on October 6, 2011
Format: Hardcover
The Business of Venture Capital covers the entire spectrum of the VC Business from fund raising, to developing the investment strategy, deal terms, portfolio management and exits. The author is obviously a strong practitioner writing for present and future practitioners with lots of useful, real-time, and up to date examples and quotes from many of the leading VCs and Limited Partners etc. It's the kind of book you will find yourself referring to over and over again if you pursue a career as a VC, but it also a must read for one planning to be a VC. Look at it as a place you can go to get the best answers from the well-versed VCs on all the finer points of this business. This is probably not a read for entrepreneurs, though it may be interesting to some, but it may well become the new Bible for the VC profession.
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3 of 3 people found the following review helpful By Lorenzo Lombardi on March 21, 2012
Format: Hardcover Verified Purchase
I devoured the book in a weekend, and loved the way it gives a complete and very clear picture of the business.
Besides effective explanations of main technical topics, all practical examples and eclectic quotations (from Tolstoy to Saint'Hexupery) give the feeling of how important is personal attitude and open-minded approach in this business.

A precious and essential book for every professional involved in VC business, on both investor's and entrepreneur's sides, or simply for who is wondering "how does this work?"

Quoting the author: "as in life, much can be taught by books but most is learned on the battlefield, where a few earn the honors, most become martyrs, and the rest carry the scars for a lifetime"
...I would bring this book with me on the battlefield, just in case...
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Format: Hardcover
In the fall of 2010 Mahendra Ramsinghani reached out to me by email about a new book he was working on called The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring, Value Creation, and Exit Strategies. He asked for two things: (1) some of my time for him to interview me and (2) intros to other VCs and LPs. I made a pile of intros and didn't think much more of it.

A few months later Mahendra send me and my partner Seth Levine an early draft of the book. We each gave him a bunch of feedback. I was deep into writing Venture Deals: Be Smarter Than Your Lawyer and VC with one of my other partners - Jason Mendelson - and it was neat to see how Mahendra's book complimented ours. I also appreciated how much work a book like this was and tried to give substantive feedback.

In June 2011 Mahendra sent me and Seth a final draft of the book. I read through it and thought it was really good. When the book came out in October Mahendra sent us final copies. I turned the pages, smiled, and then went about my business.

I finally met Mahendra in Ann Arbor when Jason and I spent the day there in November, prompting my post College Is Like A Sandbox. Manendra and I spent some time talking about an idea he had for a new book and I agreed to help him with it (more on that later this week in another post.) In the mean time when I got home I dug up The Business of Venture Capital, put in on the top of my infinite pile of books to read, and figured I'd get to it soon enough.

If you are interested in becoming a VC, are a junior VC, an associate, a principal, or even a partner who is relatively inexperienced, this book is aimed directly at you. If you are an angel investor working with VCs, this book is for you.
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2 of 2 people found the following review helpful By AF on February 22, 2013
Format: Kindle Edition Verified Purchase
Mahendra lies out the foundation of the entire venture capital industry, not just fund level operations. Everything from landing your first position as an emerging VC to advice on selecting investment bankers and underwriters for an exit is covered. Fueled by interviews with leading VCs and examples of successful venture backed companies, each chapter remains as interesting as the last with a touch of sense of humor over the strained relationships between entrepreneurs, VCs, and investors. That said, this is not a must have for every VC. This book is well suited for those trying to break into the industry or transactional attorneys trying to understand the VC art form leading to the transaction. Much is left to the imagination like sourcing and due diligence. The basic information needed is discussed but not much is said about reliable sources of information or other details.
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2 of 2 people found the following review helpful By Stefano on October 2, 2012
Format: Hardcover
This book is not only a must-read for those aspiring to a career in venture capital, but also for entrepreneurs seeking to raise venture capital. Entrepreneurs (myself included) ordinarily do not appreciate the challenges unique to VCs, namely the struggle involved in raising a fund, appraising opportunities across a wide-range of technologies, and overseeing portfolio companies. The Business of Venture Capital does an excellent job in terms of helping entrepreneurs understand those challenges. Again, I think it is an invaluable resource for those in the start-up community, regardless of which side of the table you sit on!
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