Angel financing: how to find and invest in private equity
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York [u.a.]
Wiley
2000
|
| Schriftenreihe: | Wiley investment series
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXVIII, 307 S. graph. Darst. |
| ISBN: | 0471350850 |
Internformat
MARC
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| 100 | 1 | |a Benjamin, Gerald A. |e Verfasser |4 aut | |
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| 650 | 4 | |a Investeringsplanlægning | |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-009556401 | ||
Datensatz im Suchindex
| _version_ | 1804128812990988288 |
|---|---|
| adam_text | Contents
Preface ix
Acknowledgments xix
Introduction xxi
PART1 THE CHALLENGE AND THE SOLUTION 1
Chapter 1 The Challenge 3
Introduction 3
The Challenge 3
The Direct, Private Investor 5
Structure of the Private Investor Market 7
Investor Activity in Early Stage Deals 10
Angels, a Golden Capital Source 10
Investors Worth Accessing 11
Chapter 2 The Private Placement Investment 13
The Private Placement Investment 13
Selecting the Right Capital Source 15
Is Your Deal Financeable? 15
Are You Financeable? 21
Is Your Risk Financeable? 24
The Benefits and Disadvantages of Equity 25
Making Your Search for Investors More Efficient 28
The Problems with Conventional Wisdom 29
Chapter 3 A Strategy That Works 31
An Inefficient Market Defined 31
A Strategy That Works 32
Dreamers and Dream Makers 55
vi CONTENTS
PART 2 THE ANGEL INVESTOR 57
Chapter 4 Alternative Sources of Capital 59
The Impact of Political and Economic Trends on the Accessibility
of Capital 61
Alternative Sources of Capital and How They Affect Early Stage
Investment 69
Business Angels as the Best Sources of Capital, Especially
for Early Stage Investment 69
The Appropriateness of Your Venture for a Direct, Private Investment 69
Professional Venture Capital as a Funding Resource for Early Stage
Companies 75
Comparison of Angel Investors with Professional Venture Capitalists 77
Professional Venture Capital: Help or Hindrance to Your
Funding Success? 79
Chapter 5 What Do Private Investors Look for in a Deal? 81
The High Net Worth Investor Market 81
The Informal, High Risk, Investor Profile 83
Advantages of Direct Venture Investing 85
The Private Investor s Criteria 86
Common Reasons Why Angels Reject an Investment 90
Variations in Preferred Level of Involvement after Investment 91
How Angel Investors Can Help—Beyond Capital 92
Private Investor Motivation 93
The Allocation Decision 96
Principles of Direct Venture Investing 98
Chapter 6 Types of Private Investors 101
Introduction 101
The Value Added Investor 103
The Deep Pocket Investor 109
The Consortium of Individual Investors 120
The Partner Investor 123
The Family of Investors 125
The Barter Investor 126
The Socially Responsible Private Investor 129
The Unaccredited Private Investor 131
Chapter 7 The Newest Breed of Angel: The Manager Investor 133
The Manager Investor 133
PART 3 RESOURCES: FINDING ANGEL INVESTORS 139
Chapter 8 Alternative Funding Resources in Accessing Angel Capital 141
History of the Development of Alternative Funding Resources 141
Overview of Alternative Funding Resources 144
CONTENTS vii
Performance of the Top 20 Formal Investor Networks 152
Directory of Alternative Funding Sources 153
Chapter 9 Building Your Own Database of Angel Investors 163
Introduction 163
Hurdles 164
Data Entry 167
Backup 168
Cost 168
Chapter 10 The Role of the Placement Agent in Raising Capital:
A Marketing Partner for Your Deal 170
Introduction 170
The Placement Agent: A Marketing Partner 170
PART 4 THE INVESTOR PERSPECTIVE 175
Chapter 11 The Venture Process 177
Introduction 177
Driving Forces Creating Direct Investment Opportunities 177
History of Early Stage Investing 178
Overview of the Omnibus Budget Reconciliation Act of 1993
and Its Implications for Private Investing in High Risk Deals 179
Disadvantages of High Risk Investing 179
Risk Characteristics 180
Hedging Strategies—How Angels Manage Risk in Direct Investing 182
The Syndication Bias 183
How Investors Generate Deal Flow 184
Financial and Nonfinancial Return on Investment: Angels
Expectations 185
Elements in Structuring the Private Placement 186
Approaches Angels Use to Monitor Investments 187
Harvesting Returns: Realistic Exit Strategies 188
Chapter 12 The Valuation Process in Private Transactions 189
Introduction 189
Sweat Equity 190
The Living Dead 190
Risk 192
Negotiating Valuation 194
Valuation and Stage of Development 195
Truisms in the Valuation Process 197
Caveats—For Entrepreneur and Investor Alike 199
Chapter 13 Due Diligence 202
Introduction 202
Due Diligence Questionnaire 205
viii CONTENTS
Chapter 14 On Line Options: Entrepreneurs, Investors,
and Web Sites 219
On Line Links 220
Promises and Pitfalls 225
Chapter 15 Answers to Common Business Angel Investor Questions 229
Conclusion 244
Appendix A Legal Primer on Securities Law Issues for Nonlawyers 246
1. Overview 249
2. Private Offerings—The First Step 255
3. Public Offerings 257
4. Disclosure Documents 260
5. Integration Rules: Timing 260
6. Restricted Securities and Trading 261
7. The Internet 263
8. Federal/State 264
9. The 40 Act 265
10. The Usual 266
11. Sales— Agents (California) 266
Appendix B Preparing an Investor Oriented Business Plan 267
Introduction to the Business Plan 267
What Does Your Business Plan Need to Contain? 267
Creating a Business Plan 268
I. Executive Summary 268
II. Mission or Charter 268
III. Description of the Business 269
IV. Ownership Structure and Equity 270
V. Description of Product/Service 271
VI. The Market 272
VII. Description of Industry and Trends 275
VIII. Marketing Strategy 276
IX. Marketing Plan 278
X. Sales Plan 280
XI. Operations, Research and Development Strategies, and Plans 282
XII. Management, Organization, Personnel, and Information Systems 284
XIII. Objectives and Milestones 287
XIV. Financial Projections 289
XV. Supporting Documents 292
Suggested Reading List 300
Index 303
|
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| id | DE-604.BV013963225 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:55:12Z |
| institution | BVB |
| isbn | 0471350850 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-009556401 |
| oclc_num | 477005484 |
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| owner | DE-91 DE-BY-TUM |
| owner_facet | DE-91 DE-BY-TUM |
| physical | XXVIII, 307 S. graph. Darst. |
| publishDate | 2000 |
| publishDateSearch | 2000 |
| publishDateSort | 2000 |
| publisher | Wiley |
| record_format | marc |
| series2 | Wiley investment series |
| spelling | Benjamin, Gerald A. Verfasser aut Angel financing how to find and invest in private equity Gerald A. Benjamin and Joel Margulis New York [u.a.] Wiley 2000 XXVIII, 307 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Wiley investment series Finansiering Investeringsplanlægning Finanzierung (DE-588)4017182-6 gnd rswk-swf Business Angel (DE-588)4603006-2 gnd rswk-swf Finanzierung (DE-588)4017182-6 s Business Angel (DE-588)4603006-2 s DE-604 Margulis, Joel Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009556401&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Benjamin, Gerald A. Margulis, Joel Angel financing how to find and invest in private equity Finansiering Investeringsplanlægning Finanzierung (DE-588)4017182-6 gnd Business Angel (DE-588)4603006-2 gnd |
| subject_GND | (DE-588)4017182-6 (DE-588)4603006-2 |
| title | Angel financing how to find and invest in private equity |
| title_auth | Angel financing how to find and invest in private equity |
| title_exact_search | Angel financing how to find and invest in private equity |
| title_full | Angel financing how to find and invest in private equity Gerald A. Benjamin and Joel Margulis |
| title_fullStr | Angel financing how to find and invest in private equity Gerald A. Benjamin and Joel Margulis |
| title_full_unstemmed | Angel financing how to find and invest in private equity Gerald A. Benjamin and Joel Margulis |
| title_short | Angel financing |
| title_sort | angel financing how to find and invest in private equity |
| title_sub | how to find and invest in private equity |
| topic | Finansiering Investeringsplanlægning Finanzierung (DE-588)4017182-6 gnd Business Angel (DE-588)4603006-2 gnd |
| topic_facet | Finansiering Investeringsplanlægning Finanzierung Business Angel |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009556401&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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