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.
