Private Equity and Venture Capital in Europe

Private Equity and Venture Capital in Europe PDF

Author: Stefano Caselli

Publisher: Academic Press

Published: 2018-01-04

Total Pages: 350

ISBN-13: 0128122552

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Global financial markets might seem as if they increasingly resemble each other, but a lot of peculiar aspects qualify different markets with different levels of development. Private equity investors can take advantage of these variations. Structured to provide a taxonomy of the business, Private Equity and Venture Capital in Europe, Second Edition, introduces private equity and venture capital markets while presenting new information about the core of private equity: secondary markets, private debt, PPP within private equity, crowdfunding, venture philanthropy, impact investing, and more. Every chapter has been updated, and new data, cases, examples, sections, and chapters illuminate elements unique to the European model. With the help of new pedagogical materials, this Second Edition provides marketable insights about valuation and deal-making not available elsewhere. Covers new regulations and legal frameworks (in Europe and the US) described by data and tax rates Features overhauled and expanded pedagogical supplements to increase the versatility of the Second Edition Focuses on Europe Includes balanced presentations throughout the book

Venture Capital in Europe

Venture Capital in Europe PDF

Author: Greg N. Gregoriou

Publisher: Elsevier

Published: 2011-04-01

Total Pages: 432

ISBN-13: 0080466079

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Until recently, only the United States had an active venture capital market. This is changing rapidly, as many other countries have experienced rapid growth in venture capital financing over the past five years. This book contains new scientific articles showcasing the latest research on venture capital in Europe. Venture capital investment remains a hot topic with portfolio managers, individual investors, academics worldwide. This book examines in detail all the major issues regarding venture capital investment: contracting, financing, regulation, valuation, etc. and identifies new trends in the venture capital arena. Features a foreword by Josh Lerner. *The only book in which academics from around the world present the latest research on venture capital in Europe *Covers all of Europe as well as including overview papers about venture capital industry, public and private venture capital, valuation, financing, contracting, structuring, regulation, etc. *Comprehensive, authoritative coverage

Raising Venture Capital Finance in Europe

Raising Venture Capital Finance in Europe PDF

Author: Keith Arundale

Publisher: Kogan Page Publishers

Published: 2007-04-03

Total Pages: 337

ISBN-13: 0749452021

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European private equity investment reached €47 billion in 2005, up 27% from 2004. Funds raised for private equity were €72 billion, up 250% on the previous year, both figures being all time highs. Raising Venture Capital Finance in Europe provides business owners, entrepreneurs and investors alike with a step-by-step approach to exploiting this market and funding new projects effectively. Written by Keith Arundale, an advisor and commentator on the European and US VC and private equity industry for over 20 years, the guide blends business experience with practical approaches to enable the reader to maximize the opportunities available. The book includes a series of real-life case studies from venture capitalists and entrepreneurs from around Europe, each with practical tips for successful venture capital finance raising. With forewords from Sir Paul Judge (Chairman, Enterprise Education Trust) and Patrick Sheehan (Chairman, Venture Capital Committee, European Private Equity and Venture Capital Association) the book begins with a brief introduction to the field, including an analysis of current trends and issues in the industry, and goes on to provide a detailed framework for an objective assessment of each business opportunity. The book looks at sources of finance and private equity, shows how to write a successful business plan, details the entire investment process, and considers the tax and legal issues involved. A particular feature of the book is that it looks at the topic from both sides - showing what the venture capitalist is looking for as well as detailing how an entrepreneur or business owner can make proposals attractive to those investors This means that the reader will be able to minimize time wasted on unnecessary activities and therefore develop investment approaches which are succinct, relevant, and give every chance of success.

Venture Capital Performance

Venture Capital Performance PDF

Author: KEITH. ARUNDALE

Publisher: Routledge

Published: 2021-06-30

Total Pages: 252

ISBN-13: 9781032084794

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European venture capital (VC) funds have historically underperformed their US counterparts. This has resulted in reduced investment into European VC by the traditional institutional investors. This book investigates the factors that give rise to the performance difference. It is based on the author's research at the Adam Smith Business School, University of Glasgow which involved a qualitative study of some 64 VC firms in the UK, continental Europe and the US, supplemented by 40 interviews with other stakeholders, including limited partner investors, corporate venturers, entrepreneurs and advisors. Readers will gain an in-depth understanding of the various structural, operational and wider environmental factors that impact on the performance difference between UK/European and US VC funds. The study is unique in that it provides, for the first time, a holistic and extensive analysis of the entire investment process from sourcing deals to exiting deals specifically contrasting Europe and the US in terms of the variables pertaining to the investment process and the impact on the fund performance. Factors impacting on the performance differential are structural, resulting from characteristics of the funds themselves, operational such as the investment practices of the VC firms which manage the funds and environmental such as culture and attitude to risk and the wider ecosystem in which the funds operate. These factors are set out clearly for the reader. The characteristics of the better performing funds in Europe and the US are also investigated. The book is aimed at academics who are researching venture capital fund performance and investment practices and also at practitioners, advisors and policymakers who want to learn about best VC investment practices. Whilst the book is focused on European and US VC investing, the best practices are also pertinent for VC firms and funds setting up in other geographies, particularly in emerging markets. To this end, best practice guidelines based on the research are included.

Venture Capital and the European Biotechnology Industry

Venture Capital and the European Biotechnology Industry PDF

Author: William Bains

Publisher: Palgrave MacMillan

Published: 2009-03-15

Total Pages: 240

ISBN-13:

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This book opens up the world on private equity investment in one of the hottest industries – Biotechnology. The book describes how Europe has fallen behind the US due to under-investment and bad management by the VCs who control the companies. Detailed analysis shows why it is in VCs’ interests to damage the very companies they invest in.

Venture Capital in Europe

Venture Capital in Europe PDF

Author: Spiro A. Coutarelli

Publisher: Greenwood

Published: 1977

Total Pages: 200

ISBN-13:

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Management development guide on venture capital investment financing in medium and small scale industry in Western Europe - covers the financial and institutional framework of 'high risk' investment, investment policy variants, long term investment requirements, investment return, the role of managers, and the relationship with large monopoly, etc., considers national level and international economic implications, and includes a list of European venture capitalists. References and statistical tables.

Contemporary Developments in Entrepreneurial Finance

Contemporary Developments in Entrepreneurial Finance PDF

Author: Alexandra Moritz

Publisher: Springer Nature

Published: 2019-08-22

Total Pages: 338

ISBN-13: 3030176126

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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.

Venture Capital in Europe

Venture Capital in Europe PDF

Author: Harry Cowie

Publisher: Federal Trust

Published: 1999

Total Pages: 72

ISBN-13:

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Europe's future success will depend on the integration and liquidity of its venture capital market and the inventiveness and management of its hi-tech industries. But Europe's venture capital market is dwarfed by that one of the USA, and its employment performance continues to be disappointing, small and medium sized businesses find it difficult to grow. At the worst, European entrepreneurs are faced with scepticism and ignorance in the banking sector, a lack of stock options, unreasonable legal and bureaucratic obstacles, a high cost of labour, unhelpful government agencies and unsympathetic tax authorities. To stimulate a wiedr debate on these issues, the federal trust set up an eminent international study group chaired by Sir Brian Corby. The rapporteur is Harry Cowie, Senior Research Fellow of the Federal Trust. The report analyses the problems faced by European entrepreneurs, and ask how it is possible to grow global companies in Europe. The study group examined the fiscal, economic, regulatory and cultural obstacles to the development of a truly integrated European capital market. It looks at the role of The European union institutions, and at the clusters of hi-tech success in Cambridge and Munich. Venture Capital in Europe makes wide-ranging proposals to foster entrepreneurship and facilitate the provision of venture capital. The report will be read widely by corporate strategies and public policy makers and students and practitioners of European union affairs and international economics.

Venture Capital, Entrepreneurship, and Public Policy

Venture Capital, Entrepreneurship, and Public Policy PDF

Author: Vesa Kanniainen

Publisher: MIT Press

Published: 2004-12-03

Total Pages: 324

ISBN-13: 9780262263399

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Experts in public economics and financial economics discuss the special role of venture capital and if public policy should promote the venture capital industry; empirical and theoretical perspectives are developed. The existing literature in both public economics and financial economics often fails to consider how appropriate and effective public policy may be in promoting the venture capital industry. Public economics has dealt extensively with the effect of taxes and subsidies but has neglected the unique role of venture capitalists as active investors who provide not only funding but added value. Financial economics has emphasized the special role of the venture capitalist but has not focused on the real effects of venture capital in industry equilibrium or the role of public policy. This volume in the CESifo Seminar series brings together experts in public and financial economics to develop a theoretically and empirically informed international policy perspective for an era in which policymakers increasingly look to venture capital as a source of jobs, innovation, and economic growth. The chapters in part I analyze data on the levels of venture capital fundraising in Europe, problems in the bank-oriented beginnings of German venture capital finance in the 1970s, and the inefficiency of Canadian labor-sponsored venture capital funds. Part II looks at the effect of venture capital on labor market performance, the importance of exit opportunities, and the effect of information inflows on the venture capital cycle. The chapters in part III take the perspective of public economics, reviewing the role of public policy in addressing potential market failures, improving the quality of venture capital investments, and affecting entrepreneurial business activity through tax policy.