2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale
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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. 

From the Inside Flap

PRAISE FOR THE BUSINESS OF VENTURE CAPITAL

"In the First Edition of this book, Mahendra covered Arboretum''s Fund I journey. A decade later, we are now on Arboretum Fund V. The Business of Venture Capital continues to inspire, inform, and shape the journey of future fund managers."
—Jan Garfinkle, Founder and Managing Partner, Arboretum Ventures; Board Chair, National Venture Capital Association (2019-2020)

"Mahendra has written the book I needed when I first entered the venture business. Rather than blindly stumbling my way to understanding the basics, I would have saved so much time. This book is like getting a five-year head start for anyone who wants to get up to speed about how it really works."
—Mike Maples, Jr., Founding Partner, Floodgate

"A solid foundation of investment frameworks and mental models for any venture investor, a useful guide in our rapidly changing world."
—Beezer Clarkson, Managing Director, Sapphire Partners

"An essential guide for any investor—one of the few books that weaves real-life case studies with leading academic research."
—T.K. Kurien, Managing Partner and Chief Investment Officer, Premji Invest

"A definitive guide to a nuanced, complex business which has no formulas—The Business of Venture Capital peels back the curtains to reveal an insider''s look into the high-stakes world of high-tech VC."
—Peter Hebert, Co-founder and Managing Partner, Lux Capital, a VC firm with $2.4 billion under management

"A decade later, the Third Edition of this book continues to build upon the VC industry, its best practices, worst biases, swift changes, and all the excitement that goes with it."
—Brad Feld, Co-founder, Foundry Group and Techstars; Co-author, Venture Deals

"T.S. Eliot suggested that exploration would lead us back to where we started, allowing us to know the place for the first time. Mahendra''s book was like that for me, shedding fresh light on areas I''d explored during two decades in VC while also expertly illuminating emerging trends."
—Chris "SuperLP" Duovos, Founder and Managing Director, Ahoy Capital

"Another masterpiece digging into the art of venture funds, portfolio construction, and deal mechanics! Loved it and a must-read."
—Harry Stebbings, Founder, Stride.VC and The Twenty Minute VC Podcast

From the Back Cover

The Business of Venture Capital, already in its Third Edition, is a remarkably forward-thinking guide to VC. Naturally, it''s important to understand the basics of how venture capital works, and there the book certainly doesn''t disappoint. Simply imitating the investment practices from those who came before us isn''t enough, though—especially in today''s hypercompetitive investing arena. We need to go beyond.

This book will help you build a foundation of knowledge about VC investing, and then it will help you shift that perspective. The "business as usual" approach might bring success, but for real success—the kind that really means something, even after all the checks have been signed—we need to put our hearts and souls into serving the founders on the VC journey. Working within a structured approach to raising a fund, sourcing investments, and working toward (and attaining!) exits, we can help founders realize their dreams, innovate, and build a better future, one company at a time. Its commitment to such an intricate approach is what makes The Business of Venture Capital the first-choice VC manual for capitalists, limited partners, entrepreneurs, and students.

The Third Edition includes updated case studies, the most relevant investment models, and refreshed content throughout. Venture capital is not for the faint of heart—this book provides a roadmap for getting into the business while managing risk and overcoming biases. Navigating the challenges of a VC career and knowing how to build that career, as well as how to get out when the time comes, is key. Prospective VCs must also understand portfolio strategy, due diligence, boardroom intricacies, and how to structure transactions and exits. It''s a lot to know, and this book makes it manageable. There''s no substitute for getting out there and learning by investing—but The Business of Venture Capital will help investors hit the ground running.

About the Author

MAHENDRA RAMSINGHANI, B. Engg., MBA, has over fifteen years of investment experience and is the founder of Secure Octane, a San Francisco–based cybersecurity fund. He is the former Managing Director of First Step Fund and has advised investment organizations in the U.S., Asia Pacific, and Middle East regions. He is a frequent speaker at engagements around the world, and contributes regularly to professional publications, including Techcrunch, Forbes, and Venturebeat.

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4.6 out of 54.6 out of 5
43 global ratings

Top reviews from the United States

Andreas Ramos
5.0 out of 5 starsVerified Purchase
Essential for VCs, LPs, and Startup Founders
Reviewed in the United States on February 13, 2021
I wish could give this book ten stars. Mahendra Ramsinghani''s book is far away the most authoritative overview of how venture capital works. He shows all sides of the venture equation: how VCs get their money from investors (LPs), the motivations and goal of... See more
I wish could give this book ten stars.

Mahendra Ramsinghani''s book is far away the most authoritative overview of how venture capital works. He shows all sides of the venture equation: how VCs get their money from investors (LPs), the motivations and goal of those LPs, how VCs manage the funds (and their motivations and goals), and how VCs deal with startup founders (again, motivation and goals for both sides).

If you''re an LP, VC, or startup founder, you''ll learn how the system works.

Mahendra is a VC in Silicon Valley and knows the field. The book is 450 pages of dense text in a very clear, easy-to-read style. I pre-ordered, got it on Friday, and finished it by Saturday afternoon.

If you''re building startups, seeking funding, or work in venture, I strongly recommend this book.

Yes, it''s $90. It could be $900 and still be a great offer.

About me: I''ve done several startups in Silicon Valley, I''m co-founder of a startup now, I wrote a book about startups (in its second edition and five translations), and I still learned so much from Mahendra''s book.

andreas
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A.S. Oberoi
5.0 out of 5 starsVerified Purchase
Game-Changing. Impactful. Authoritative. Provocative. Visionary.
Reviewed in the United States on September 11, 2021
“At the beginning of the book, Mahendra Ramsinghani’s parents provide the most crucial advice and foundational teaching. And in acknowledging his inspiring parents, Mahendra sums up the business of venture capital most pertinently, which is to always place:... See more
“At the beginning of the book, Mahendra Ramsinghani’s parents provide the most crucial advice and foundational teaching. And in acknowledging his inspiring parents, Mahendra sums up the business of venture capital most pertinently, which is to always place:

“Knowledge above wealth,
People above profits,
Truth above power,
And service above self.”

Mahendra is masterful at organizing and distilling complex principles of the venture industry. This masterpiece book on the business of Venture Capital is a substantive source to understand how venture capital firms operate in real-world practice, such as the fund-raising process, investment process, governance, and exits.

As an expert on Venture Capital, Mahendra has constructed a spectacular, engaging, and adaptable discourse on the entire spectrum of the venture capital process. It is crystal clear, detailed, interesting — filled with remarkable stories and data and empathy and personal experience.

In times of unprecedented change, we as individuals, practitioners, and institutions have a tremendous responsibility. We can have extraordinary leverage and influence if we marshal the passion, knowledge, and resources necessary to create value and achieve great things. The Business of Venture Capital empowers and guides us practitioners and entrepreneurs to make the most of today’s enormous possibilities in quality investments, cohesive cooperation and meaningful partnerships, exponential technologies, and a future of abundance that will transition us to a New Age.

The book teaches us creative investment mechanisms, evolving business models, and leadership would have to be extraordinarily well-poised, aligned, and at the forefront of major innovations and industry transitions to take the venture capital, startup, and enterprise industries to its next level national and global success. And to achieve ‘real success,’ we would require bold, courageous, visionary, purposeful, and compassionate venture capitalists ‘collectively’ to make impactful investments for a societal transformation.

This labor of love is wonderfully written and is a must-read for any current or future investor, founder, or limited partner—pearls of wisdom leap from almost every page.

Lastly, I believe that True Transformation is big, bold, audacious, enterprise-wide, community-wide, and lasting. It is a meaningful and sustainable step-change in culture, capabilities, and performance. Mahendra reminds us that for the venture capital industry to become a transformational success truly, the principle of mutual benefit – between countries, corporations, customers, employees, and communities – is the most effective route to profitable, sustainable growth.

My best wishes to Mahendra and Secure Octane Investments on an ever-expanding, inspirational, “perspective-driven,” and “purposefully-led” journey ahead.”
One person found this helpful
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Matthew Y. Blumberg
5.0 out of 5 starsVerified Purchase
The perfect VC101 primer
Reviewed in the United States on May 31, 2021
The Business of Venture Capital is the definitive overview of VCs — how they are structured, how they operate, how they raise money, and how they win. Anyone who needs to study the field should pick this up immediately. That could be because they’re considering entering the... See more
The Business of Venture Capital is the definitive overview of VCs — how they are structured, how they operate, how they raise money, and how they win. Anyone who needs to study the field should pick this up immediately. That could be because they’re considering entering the field — or because they’re an entrepreneur who should understand how their financial partners work and what makes them tick. It’s a great sequel to Venture Deals by Brad Feld for those who have read that and want a deeper understanding of VCs.
2 people found this helpful
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Paddy Deshmukh
5.0 out of 5 starsVerified Purchase
Inspiring for any serious investor.
Reviewed in the United States on February 15, 2021
This book is for anyone in the Venture Capital (VC) business, no matter if you are a seasoned VC or a newcomer to investing in start-ups. The book is quite comprehensive, full of case studies and takes us on the VC journey from raising a fund, to structuring investments,... See more
This book is for anyone in the Venture Capital (VC) business, no matter if you are a seasoned VC or a newcomer to investing in start-ups. The book is quite comprehensive, full of case studies and takes us on the VC journey from raising a fund, to structuring investments, to portfolio management, to board room intricacies and finally onto exits. A great reference and a must-read!
3 people found this helpful
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Siddhant Trivedi
5.0 out of 5 stars
A must read for any current or future investor, founder or limited partner!
Reviewed in the United States on April 4, 2021
Mahendra has written an excellent book that walks you through how the Venture Capital industry works and why this small industry has had such a large impact on our world. What makes this new edition unique is the number of new stories he has added after speaking with over... See more
Mahendra has written an excellent book that walks you through how the Venture Capital industry works and why this small industry has had such a large impact on our world. What makes this new edition unique is the number of new stories he has added after speaking with over 100 VCs and founders. This is a must-read for anyone who loves startups, investing or technology.

Here are a few snippets from the book:
- On Fellowship: "Pat Grady, partner at Sequoia Capital for over 12 years says, "When I joined Sequoia Capital back in 2004, I was the youngest in the firm but my title was partner. For Sequoia this was never about a ''sourcing'' gimmick, making sure that founders ''talk only to partners'' hence this title. It was a genuine intention to align everyone for the same outcomes."
- On Sourcing: "[SignalFire''s] platform Beacon tracks more than 4M companies, over 8.5M engineers, [to bring] unique insights in growth, hiring and consumption patterns to their portfolio companies. Chris Farmer says the future of venture capital will be determined by data."
- On Generational Transfer: "Succession in venture funds is like a Shakespearean tragedy - it involves money, ego, fame, and emotion," says Paul Holland of Foundation Capital."
2 people found this helpful
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Charles Givre
5.0 out of 5 stars
Must Read for Anyone Seeking Venture Capital Investment.
Reviewed in the United States on April 26, 2021
As someone who recently raised money from VC funds for the first time, I had no idea how things worked from the other side. The Business of Venture Capital is a clear, very well written, understandable and BS-free explanation of how venture capital funds work, who funds... See more
As someone who recently raised money from VC funds for the first time, I had no idea how things worked from the other side. The Business of Venture Capital is a clear, very well written, understandable and BS-free explanation of how venture capital funds work, who funds them and how they make money. When you go to pitch to investors, understanding these concepts will help you make more effective pitches and understand what the investors are looking for when they listen to your pitch.
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Amazon Customer
5.0 out of 5 stars
The best book in venture. period.
Reviewed in the United States on May 3, 2021
I was gifted this book from a friend, and it has easily been of the best investments of my time. Mahendra is masterful at organizing and distilling complex principles of the venture industry. Everything ranging from how venture funds work to how to provide value... See more
I was gifted this book from a friend, and it has easily been of the best investments of my time.

Mahendra is masterful at organizing and distilling complex principles of the venture industry. Everything ranging from how venture funds work to how to provide value when sitting on boards. Although the book is 400+ pages long, the content is concise and very well written. Rather than approaching each subject from a theoretical lens, Mahendra provides case studies and real world examples to articulate his points - something that I found extremely helpful.

It''s must read material if you''re taking your role in the ecosystem seriously.
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sharon chawla
5.0 out of 5 stars
This book is a must read!
Reviewed in the United States on February 17, 2021
Mahendra has done an excellent job in this masterpiece on the business of VC. This book is a great read for anyone learning and practicing VC - from the dynamics of raising a fund to finding and structuring deals and also being a watchful investor and exiting and returning... See more
Mahendra has done an excellent job in this masterpiece on the business of VC. This book is a great read for anyone learning and practicing VC - from the dynamics of raising a fund to finding and structuring deals and also being a watchful investor and exiting and returning capital to the LP! Good case studies and real world examples from leading practitioners to make this an exciting read from beginning to end!
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2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale

2021 popular The discount Business of Venture Capital: The Art of Raising a Fund, Structuring Investments, Portfolio new arrival Management, and Exits (Wiley Finance) online sale