Raising Venture Capital
Chapter One
Entrepreneurs and Venture Capitalists
1.1 INTRODUCTION
From early beginnings in the aftermath of World War II, and rapid expansion from the mid
1970s, the venture capital (VC) industry has evolved from an ad hoc collection of pioneering
investors into a sophisticated, fast paced and highly specialised industry. During this period,
venture capitalists (VCs) have provided the fuel for entrepreneurs to create a generation of
companies that have changed the face of the planet. The exponential growth (and occasional
dramatic decline) of the computing, communications, biotechnology and internet sectors has
placed the VC industry firmly in the limelight, and subsequently under the spotlight, as
volatile capital markets have taken their toll.
The question of how the VC industry works, however, remains a mystery for many novice
entrepreneurs, and the dynamics of VC deals are challenging for those without first-hand
experience. This book examines the fundamentals that drive the VC industry, explains how
these fundamentals translate ... read full excerpt from Raising Venture Capital ebook
