How Do Philanthropic Venture Capitalists Choose Their Portfolio Companies
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How Do Philanthropic Venture Capitalists Choose Their Portfolio Companies
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Author : Mariarosa Scarlata
language : en
Publisher:
Release Date : 2010
How Do Philanthropic Venture Capitalists Choose Their Portfolio Companies written by Mariarosa Scarlata and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This paper examines the deal flow and screening process characterizing the philanthropic venture capital investment model. The practices explicitly adopted by philanthropic venture capitalists are then compared to those employed by traditional for-profit venture capitalists to understand whether the investment behaviour of the two investor categories is the same. By surveying the population of European and US philanthropic venture capitalists, results suggest that they originate and select deals similarly to traditional venture capitalists. However, they also adopt different deal origination criteria which are not traditionally used by venture capitalists, such as, incubation and direct creation of an organization in the event of not finding a suitable one. Furthermore, screening variables such as ldquo;deal termsrdquo; and ldquo;technologyrdquo; are not considered to be as important as in the case of venture capital.
Philanthropic Venture Capital
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Author : Mariarosa Scarlata
language : en
Publisher: Now Pub
Release Date : 2012-08
Philanthropic Venture Capital written by Mariarosa Scarlata and has been published by Now Pub this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08 with Business & Economics categories.
Philanthropic Venture Capital: Venture Capital for Social Entrepreneurs? aims to delineate the current state of philantropic venture capital, identifying differences with traditional venture capital financing, and offers directions for future research. It focuses on understanding what philanthropic venture capital is and how its social value creation investment logic makes it different from traditional venture capital.
Venture Capital
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Author : Douglas Cumming
language : en
Publisher: John Wiley & Sons
Release Date : 2010-04-29
Venture Capital written by Douglas Cumming and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-29 with Business & Economics categories.
An essential guide to venture capital Studies have shown that venture capital backed entrepreneurial firms are on average significantly more successful than non-venture capital backed entrepreneurial firms in terms of innovativeness, profitability, and share price performance upon going public. Understanding the various aspects of venture capital is something anyone in any industry should be familiar with. This reliable resource provides a comprehensive view of venture capital by describing the current state of research and best practices in this arena. Issues addressed include sources of capital-such as angel investment, corporate funds, and government funds-financial contracts and monitoring, and the efficiency implications of VC investment, to name a few. Opens with a review of alternative forms of venture capital Highlights the structure of venture capital investments Examines the role venture capitalists play in adding value to their investee firms This informative guide will help you discover the true potential of venture capital.
The New Philanthropists And The Emergence Of Venture Philanthropy
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Author : Brock Brower
language : en
Publisher: Center for Strategic & International Studies
Release Date : 2001
The New Philanthropists And The Emergence Of Venture Philanthropy written by Brock Brower and has been published by Center for Strategic & International Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
This report examines the fundamental shift in wealth behind all the recent eleemosynary activity dependent on the New Economy -- activity that is often accompanied by a challenging, entrepreneurial approach to giving-and attempts to evaluate how successful these venture philanthropists will be in their efforts to fund significant but tightly controlled and financially viable programs, while seeking to effect fundamental changes in the organizing principles of philanthropy.
Venture Capitalists As Benevolents Vultures
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Author : Dima Leshchinskii
language : en
Publisher:
Release Date : 2001
Venture Capitalists As Benevolents Vultures written by Dima Leshchinskii and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
This paper studies how externalities between projects affect investment decisions and investor involvement with the companies they invest in. Entrepreneurs select investors for their projects, choosing between venture capitalists and individual quot;angelquot; investors. In industries with high externalities, venture capitalists can increase social welfare by coordinating their investments into portfolio companies and by intensively monitoring their progress to an endogenously determined higher degree. However, entrepreneurs are indifferent to the total effect of venture capital investment and simply choose venture capital finance only if it increases their project's NPV. When the network externalities are positive, coordinated investment by VCs guarantees profitable investment into some projects that would otherwise have ex-ante negative NPV and fail to attract funding When the network externalities are negative, coordinated investment allows early termination of some projects. Some positive NPV projects may even be sacrificed, to the total benefit of overall value of the VC portfolio. The entrepreneurs know that there is a probability that it is their project that will be terminated, yet they are willing to allow for this eventuality because, if their project continues the payoff will be much higher, than with non-coordinated individual investment.
Contemporary Developments In Entrepreneurial Finance
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Author : Alexandra Moritz
language : en
Publisher: Springer Nature
Release Date : 2019-08-22
Contemporary Developments In Entrepreneurial Finance written by Alexandra Moritz and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-22 with Business & Economics categories.
More extensive regulations, new technologies, and new means of communication have significantly changed the financing landscape for startups and small to medium-sized companies (SMEs). This volume provides a contemporary research-based overview of the latest trends in entrepreneurial finance and outlines expected future developments. Starting with the status quo in market regulations and the financing structure of SMEs, it addresses a broad range of new financing alternatives for innovative startups (e.g. business angel financing, venture capital and corporate venture capital), as well as recent social phenomena (e.g. crowdfunding and initial coin offerings (ICOs)). Incorporating qualitative, quantitative and mixed analytical methods, the book contributes to a better understanding of the financing world by reflecting both the researcher’s and the practitioner’s perspective.
Philanthropic Venture Capital
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Author : Mariarosa Scarlata
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2011-01
Philanthropic Venture Capital written by Mariarosa Scarlata and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01 with categories.
This book is the first study on philanthropic venture capital, a financing form for social entrepreneurs that unites the principles characterizing traditional venture capital with social aims. The provision of capital and non- financial services to social enterprises are of key importance for the maximizations of social impact as both elements enable social enterprises to become sustainable. However, the value proposition of the venture capital and philanthropic venture capital are different; a key issue is understanding how the practices used in the former are applied by the latter. Grounded in asymmetric information and stewardship theory, I build on and contribute to previous work showing how adverse selection and moral hazard are able to describe the philanthropic venture capital investment model. Results indicate that philanthropic venture capital investments are characterized by adverse selection. On the contrary, moral hazard tends to be a marginal issue in the deal structuring and post-investment phased of the investment, with investors acting as stewards rather than principals.
Theory And Empirical Research In Social Entrepreneurship
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Author : Phillip H. Phan
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-02-28
Theory And Empirical Research In Social Entrepreneurship written by Phillip H. Phan and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-28 with Business & Economics categories.
Scholars and policy makers have long recognized entrepreneurship as a powerful engine of economic growth. There is clear evidence, however, that when it comes to social entrepreneurship, policy attention has not been matched by growth in scholarly rese
Leverage For Good
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Author : Lester M. Salamon
language : en
Publisher: Oxford University Press
Release Date : 2014
Leverage For Good written by Lester M. Salamon and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Business & Economics categories.
With the resources of both governments and traditional philanthropy barely growing or in decline, yet the problems of poverty, ill-health and environmental degradation ballooning daily, it is increasingly clear that new models for financing and promoting social and environmental objectives have become urgently needed. Fortunately, however, a significant revolution appears to be underway in the way in which social and environmental purposes are being financed. The heart of this revolution is a massive explosion in the instruments and institutions being deployed to mobilize private resources in support of social and environmental objectives. Where earlier such support was limited to charitable gifts, now a bewildering array of new instruments and institutions has surfaced-loans, loan guarantees, private equity, barter arrangements, social stock exchanges, bonds, secondary markets, investment funds, and many more-all of them designed to leverage not just the tens of billions of dollars of philanthropic grants but the hundreds of billions, indeed trillions, of dollars of private investment capital. While the changes under way are inspiring and by no means trivial, however, they remain largely uncharted in any systematic fashion. This monograph, and of the companion volume for which it also serves as the introductory chapter, is designed to overcome this problem, to provide the first comprehensible and accessible roadmap to the full range of important new developments taking place on the frontiers of philanthropy and social investment. In the process, it seeks to broaden awareness of these developments, increase their credence and traction, and make it possible to maximize the benefits they can generate while acknowledging the limitations and challenges they also face.
The Business Of Venture Capital
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Author : Mahendra Ramsinghani
language : en
Publisher: John Wiley & Sons
Release Date : 2021-02-03
The Business Of Venture Capital written by Mahendra Ramsinghani and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-03 with Business & Economics categories.
The new edition of the definitive guide for venture capital practitioners—covers the entire process of venture firm formation & management, fund-raising, portfolio construction, value creation, and exit strategies Since its initial publication, The Business of Venture Capital has been hailed as the definitive, most comprehensive book on the subject. Now in its third edition, this market-leading text explains the multiple facets of the business of venture capital, from raising venture funds, to structuring investments, to generating consistent returns, to evaluating exit strategies. Author and VC Mahendra Ramsinghani who has invested in startups and venture funds for over a decade, offers best practices from experts on the front lines of this business. This fully-updated edition includes fresh perspectives on the Softbank effect, career paths for young professionals, case studies and cultural disasters, investment models, epic failures, and more. Readers are guided through each stage of the VC process, supported by a companion website containing tools such as the LP-GP Fund Due Diligence Checklist, the Investment Due Diligence Checklist, an Investment Summary format, and links to white papers and other industry guidelines. Designed for experienced practitioners, angels, devils, and novices alike, this valuable resource: Identifies the key attributes of a VC professional and the arc of an investor’s career Covers the art of raising a venture fund, identifying anchor investors, fund due diligence, negotiating fund investment terms with limited partners, and more Examines the distinct aspects of portfolio construction and value creation Balances technical analyses and real-world insights Features interviews, personal stories, anecdotes, and wisdom from leading venture capitalists The Business of Venture Capital, Third Edition is a must-read book for anyone seeking to raise a venture fund or pursue a career in venture capital, as well as practicing venture capitalists, angel investors or devils alike, limited partners, attorneys, start-up entrepreneurs, and MBA students.