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Venture Capital, Private Equity, and the Financing of Entrepreneurship, 2nd Edition

Venture Capital, Private Equity, and the Financing of Entrepreneurship, 2nd Edition

Author: Josh Lerner; Ann Leamon
Publisher: John Wiley & Sons
ISBN: 9781119559665
Published In: April 2023
Format: Paperback , 512 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

HKD 2,360.00

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Description
Contents

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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.

NEW TO THIS EDITION

New anecdotes and mini cases from the 1990s to 2022
Discussion of recent academic articles
Coverage of the rise of ESG and impact investing
Explorations of the growth of Chinese venture capital and private equity, as well as other emerging economies
Discussion of recent events in the venture capital and private equity industries
Expanded coverage of diversity, equity, and inclusion concerns

FEATURES

Offers comprehensive and student-friendly instruction on venture capital investments, buyouts, and other transactions
Written by authors with over 50 years of combined experience in academia and industry
Presents the motivations and incentives that drive the various actors in private equity: fund investors, company investors, and entrepreneurs
Discusses the difficulties surrounding deal sourcing and company valuation
Describes the structures of and motivations behind various private equity securities
Explains the impact of private equity on broader society

Preface vii

Acknowledgments ix

About the Authors xi

1. Introduction 1

2. The Private Equity Cycle— Fundraising and Fund Choosing 20

3. Deal Sourcing and Evaluation— Not as Easy as It Looks! 65

4. Assigning Value 101

5. Deal Structuring— Private Equity Securities and Their Motivation 131

6. After the Money Arrives 175

7. Getting Liquid: Exits and Distributions 204

8. The Globalization of Venture Capital and Private Equity 246

9. Risk and Return 285