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 Price: $31.95 ( (as of 2012-10-06 21:58:42 PST) You save $18.00 (36%)
(as of 2012-10-06 21:58:42 PST) |
DescriptionAn engaging guide to excelling in today's venture capital arena Beginning in 2005, Brad Feld and Jason Mendelson, managing directors at Foundry Group, wrote a long series of blog posts describing all the parts of a typical venture capital Term Sheet: a document which outlines key financial and other terms of a proposed investment. Since this time, they've seen the series used as the basis for a number of college courses, and have been thanked by thousands of people who have used the information to gain a better understanding of the venture capital field. Drawn from the past work Feld and Mendelson have written about in their blog and augmented with newer material, Venture Capital Financings puts this discipline in perspective and lays out the strategies that allow entrepreneurs to excel in their start-up companies. Page by page, this book discusses all facets of the venture capital fundraising process. Along the way, Feld and Mendelson touch on everything from how valuations are set to what externalities venture capitalists face that factor into entrepreneurs' businesses.
The venture capital arena is a complex and competitive place, but with this book as your guide, you'll discover what it takes to make your way through it. Q&A with Co-Authors Brad Feld and Jason Mendelson
I understand that VCs have primarily four functions they perform: raising funds, screening and investing in new businesses, managing current portfolio companies and some level of investor relations and internal operations. How do you divide your work day? Some partners have operational responsibilities internal to the firm itself, some don't. In short, you could ask 100 VCs this answer and have 100 different answers. If you forced me to put some percentages on the table, I'd say a normal yearly time allocation (assuming that fundraising is not happening) might look something like this: Screening, Analysis and Execution: 45% With a number of great companies being born of ideas coming from a youthful group of entrepreneurs, what advice do you have for the young person seeking to build a team of “time-tested, battle-hardened” professionals?
I think the key to being a young entrepreneur is being self aware. Know what you know and also know what you don't. If you can communicate to a prospective investor that you are smart, have a great idea AND are emotionally intelligent and realize what other skills sets you'll need to surround yourself with, then I don't think being young and / or inexperienced will hurt your chances. In fact, youthful exuberance is infectious and sometimes younger folks will think outside the box more often than older ones who are set in their ways. Are you aware of any VCs that have funded founders that have failed at their previous ventures? My favorite entrepreneurs to fund are those that have had at least one success and one failure. While it is a cliche, failure teaches the big lessons. Most importantly, entrepreneurs that have some failure under their belt have humility and perspective that I think is deeply useful in the creation of the company. There is a perspective – promoted by some people – that the best serial entrepreneurs have never been unsuccessful. This is a myth – the vast majority of successful entrepreneurs who I know have a long string of failures in their past. Why don't VCs invest in real estate?
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