A Vision for Venture Capital: Realizing the Promise of Global Venture Capital and Private Equity (Winthrop Group) [Hardcover]

Peter A. Brooke (Author), Daniel Penrice (Contributor)

Book Description

Publication Date: November 10, 2009

A Vision for Venture Capital chronicles a distinguished career on the frontiers of international finance during the past half-century. Peter Brooke has been called "the Johnny Appleseed of venture capital" for his role in the industry's spectacular growth-- from a small base in the Northeastern United States in the 1960s, to today's highly visible role in economies all over the world. The key to Brooke's success--and his lasting legacy--is his vision for the industry as an essential element of economic growth and development. At a time when some believe that venture capital's best days are behind it, and private equity has come under harsh criticism in the United States and elsewhere, A Vision for Venture Capital offers a fresh look at why the industry exists and how it can fulfill its potential in the twenty-first century.

Editorial Reviews

Review

"For over fifty years Peter Brooke has been one of the most important factors in the evolution of the venture capital and private investment industry in the United States and around the world. His innovative ideas combined with mature and careful execution of his vision has helped to set standards for a generation of investors and entrepreneurs. For all interested in these subjects, this book is a 'must read'." (James Wolfensohn, former president, the World Bank )

About the Author

PETER A. BROOKE is chairman of Advent International, a global private equity firm based in Boston. DANIEL PENRICE has long experience as an editor, collaborator, and author, both as a freelancer and as a senior associate of The Winthrop Group, Inc.

Product Details

• Hardcover: 312 pages
• Publisher: New Ventures (November 10, 2009)
• Language: English
• ISBN-10: 1584657995
• ISBN-13: 978-1584657996
• Product Dimensions: 9 x 6.1 x 1.3 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #919,913 in Books (See Top 100 in Books)

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4 of 4 people found the following review helpful:

5.0 out of 5 stars Interesting Insights On The Development of The Venture Capital Industry In the U.S. and Abroad, April 4, 2010

By 

Aakar Vachhani - See all my reviews
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This review is from: A Vision for Venture Capital: Realizing the Promise of Global Venture Capital and Private Equity (Winthrop Group) (Hardcover)

I recently finished reading A Vision for Venture Capital: Realizing the Promise of Global Venture Capital and Private Equity. The book is an (assisted) autobiography chronicling the storied career of Peter A. Brooke. As founder of TA Associates and Advent International, Mr. Brooke was crucial to the early development of the venture capital industry - he was truly a pioneer for the industry not only in the U.S. but in his work spreading the venture capital model internationally.

The book is split into two parts. The first half of the book takes you through his career - his development as a venture capitalist, building TA Associates, and then his shift in focus to international investments and the founding of Advent International. The second half of the book covers how to add value through venture investing and Mr. Brooke's outlook for the future. If you don't have time to read the whole book, I highly recommend the second part - there are some great takeaways and you still get many anecdotes from his storied career.

It was clear that Mr. Brooke is passionate about the true role of venture capital and it was a point he drove home throughout the book. Below is an excerpt that I felt exemplified Mr. Brooke's ideology.
When discussing the industry's early moves into international markets and the difficulty getting U.S. based investors to see potential Mr. Brooke said:

"It didn't seem to have occurred to many venture capitalists and private equity managers that they could be a force for economic and social progress in the world. To me, however, this is the whole point of what we do. The frontier in the industry is wherever the skills of venture capital and private equity managers can be applied to address economic problems such as poverty, underdevelopment, and lack of opportunity, along with the many social ills associated with them. To put it another way, the pioneers today are those who apply their entrepreneurial spirit and problem-solving skills not only to make a profit for their investors and themselves but also to improve the lives of others."

Overall, I think it's a great read, especially for those starting out or considering a career in venture capital or private equity. You get a lot of history on the industry's development and can really broaden your mindset on how to approach investing. The book is also great for those involved with venture capital and private equity investing in the emerging markets. Underdeveloped, frontier markets arguably stand to benefit the most from private equity and venture capital investment and it's sure to be where much of the industry's growth comes in the coming years. Approaching these markets with some of Mr. Brooke's insights and lessons would surely be beneficial.