Venture capital and the finance of innovation:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Hoboken, NJ
Wiley
2007
|
| Schlagworte: | |
| Online-Zugang: | Table of contents only Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references and index |
| Beschreibung: | XXIV, 568 S. graph. Darst. |
| ISBN: | 9780470074282 0470074280 |
Internformat
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| 245 | 1 | 0 | |a Venture capital and the finance of innovation |c Andrew Metrick |
| 264 | 1 | |a Hoboken, NJ |b Wiley |c 2007 | |
| 300 | |a XXIV, 568 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references and index | ||
| 650 | 7 | |a Capital de risco |2 larpcal | |
| 650 | 7 | |a Finanças |2 larpcal | |
| 650 | 7 | |a Investimentos |2 larpcal | |
| 650 | 7 | |a Risicokapitaal |2 gtt | |
| 650 | 4 | |a Venture capital | |
| 650 | 4 | |a Technological innovations |x Finance | |
| 650 | 0 | 7 | |a Innovationsförderung |0 (DE-588)4114020-5 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Innovation |0 (DE-588)4027089-0 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
| _version_ | 1804136329471066112 |
|---|---|
| adam_text | BRIEF CONTENTS
PREFACE—A READER S GUIDE vii
ACKNOWLEDGMENTS xiii
CONTENTS xvii
PARTI
VC BASICS
CHAPTER 1 THE VC INDUSTRY 3
CHAPTER 2 VC PLAYERS 21
CHAPTER 3 VC RETURNS 45
CHAPTER 4 THE COST OF VENTURE CAPITAL 65
CHAPTER 5 THE BEST VCs 83
CHAPTER 6 VC AROUND THE WORLD 98
PART II
TOTAL VALUATION
CHAPTER 7 THE ANALYSIS OF VC INVESTMENTS 123
CHAPTER 8 TERM SHEETS 145
CHAPTER 9 PREFERRED STOCK 163
CHAPTER 10 THE VC METHOD 179
CHAPTER 11 DISCOUNTED CASH FLOW ANALYSIS OF GROWTH
COMPANIES 195
CHAPTER 12 COMPARABLES ANALYSIS 213
v
Vi BRIEF CONTENTS
PART III
PARTIAL VALUATION
CHAPTER 13 OPTION PRICING 231
CHAPTER 14 THE VALUATION OF PREFERRED STOCK 252
CHAPTER 15 LATER ROUND INVESTMENTS 271
CHAPTER 16 PARTICIPATING CONVERTIBLE PREFERRED STOCK 289
CHAPTER 17 IMPLIED VALUATION 304
CHAPTER 18 COMPLEX STRUCTURES 319
PART IV
THE FINANCE OF INNOVATION
CHAPTER 19 R D FINANCE 339
CHAPTER 20 MONTE CARLO SIMULATION 357
CHAPTER 21 REAL OPTIONS 379
CHAPTER 22 BINOMIAL TREES 401
CHAPTER 23 GAME THEORY 421
CHAPTER 24 R D VALUATION 447
APPENDIX A INFORMATION SOURCES FOR VENTURE CAPITAL 468
APPENDIX B SAMPLE TERM SHEET 485
APPENDIX C THE VCFI SPREADSHEETS 501
APPENDIX D GUIDE TO CRYSTAL BALL 507
GLOSSARY 533
INDEX 557
CONTENTS
PARTI
VC BASICS
CHAPTER 1 THE VC INDUSTRY 3
1.1 What Is Venture Capital? 3
1.2 What Do Venture Capitalists Do? 9
1.3 The History of Venture Capital 10
1.4 Patterns of VC Investment in the United States 15
1.4.1 Investments by Stage 15
1.4.2 Investments by Industry 17
1.4.3 Investments by U.S. Region 18
Summary 19
Key Terms 20
References 20
CHAPTER 2 VC PLAYERS 21
2.1 Firms and Funds 21
2.2 The Limited Partners 27
2.3 VC Partnership Agreements 29
2.3.1 Management Fees 29
2.3.2 Carried Interest 31
2.3.3 Restrictive Covenants 37
Summary 40
Key Terms 41
References 41
Exercises 41
Appendix 2.A: EarlyBird Ventures I 42
Appendix 2.B: Talltree Ventures IV 43
Appendix 2.C: Owl Ventures IX 44
xvii
xviii contents
CHAPTER 3 VC RETURNS 45
3.1 Industry Returns 45
3.1.1 Definitions 45
3.1.2 A Gross Return Index 47
3.1.3 A Net Return Index 49
3.2 Fund Returns 52
3.2.1 Definitions 52
3.2.2 Evidence 58
Summary 61
Key Terms 61
References 62
Exercises 62
CHAPTER 4 THE COST OF VENTURE CAPITAL 65
4.1 The Capital Asset Pricing Model 65
4.2 Beta and the Banana Birds 69
4.3 Estimating the Cost of VC 74
Summary 80
Key Terms 80
References 80
Exercises 81
CHAPTERS THE BEST VCs 83
5.1 The Economics of VC 83
5.2 The Best VCs: A Subjective List 86
5.3 VC Value Added and the Monitoring of Portfolio Firms 94
Summary 97
Key Terms 97
References 97
CHAPTER 6 VC AROUND THE WORLD 98
6.1 The Global Distribution of VC Investing 98
6.2 The Cost of International Venture Capital 110
6.2.1 Baseline Model: The Global CAPM 110
6.2.2 Objections and Extensions to the Global CAPM 112
6.2.3 A Global Multifactor Model for Venture Capital 116
CONTENTS Xix
Summary 117
Key Terms 118
References 118
Exercises 118
PART II
TOTAL VALUATION
CHAPTER 7 THE ANALYSIS OF VC INVESTMENTS 123
7.1 VC investments: The Historical Evidence 123
7.2 The Investment Process 134
Summary 143
Key Terms 144
References 144
CHAPTER 8 TERM SHEETS 145
8.1 The Basics 146
8.1.1 Investors 147
8.1.2 Price Per Share 148
8.1.3 Pre money and Post money Valuation 148
8.1.4 Capitalization 149
8.2 The Charter 150
8.2.1 Dividends 152
8.2.2 Liquidation Preference 152
8.2.3 Voting Rights and Other Protective Provisions 153
8.2.4 Mandatory Conversion 153
8.2.5 Redemption Rights 153
8.3 Investor Rights Agreement 154
8.3.1 Registration Rights 157
8.3.2 Matters Requiring Investor—Director Approval 157
8.3.3 Employee Stock Options 158
8.4 Other Items 158
8.4.1 Rights and Restrictions 159
8.4.2 Founders Stock 160
Summary 160
Key Terms 160
References 161
Exercises 161
XX CONTENTS
CHAPTER 9 PREFERRED STOCK 163
9.1 Types of Preferred Stock 163
9.2 Antidilution Provisions 173
Summary 177
Key Terms 177
References 177
Exercises 178
CHAPTER 10 THE VC METHOD 179
10.1 The VC Method: Introduction 179
10.1.1 Exit Valuation 180
10.1.2 Target Returns 181
10.1.3 Expected Retention 183
10.1.4 The Investment Recommendation 184
10.2 The Standard VC Method 185
10.3 The Modified VC Method 186
Summary 192
Key Terms 192
References 193
Exercises 193
CHAPTER 11 DISCOUNTED CASH FLOW ANALYSIS OF GROWTH
COMPANIES 195
11.1 DCF Analysis: Concepts 196
11.2 DCF Analysis: Mechanics 198
11.3 Graduation Value 203
11.4 DCF Analysis: The Reality Check Model 207
11.4.1 Baseline Assumptions for the Reality Check DCF 207
Summary 211
Key Terms 211
References 212
Exercises 212
CHAPTER 12 COMPARABLES ANALYSIS 213
12.1 Introduction to Comparables Analysis 214
12.2 Choosing Comparable Companies 219
12.3 Using Comparable Companies to Estimate the Cost of Capital 223
Summary 225
Key Terms 226
CONTENTS XXJ
References 226
Exercises 226
Appendix 12.A Potential Comparables for Semico 227
PART III
PARTIAL VALUATION
CHAPTER 13 OPTION PRICING 231
13.1 European Options 232
13.2 Pricing Options using a Replicating Portfolio 234
13.3 The Black Scholes Solution 238
13.4 American Options 242
13.5 Random Expiration Options 243
13.6 Reading Exit Diagrams 245
13.7 Carried Interest as an Option 247
Summary 249
Key Terms 249
References 249
Exercises 250
Appendix 13.A RE Options: Technical Details 251
CHAPTER 14 THE VALUATION OF PREFERRED STOCK 252
14.1 Base Case Option Pricing Assumptions 253
14.2 RP Valuation 254
14.3 Excess Liquidation Preferences 257
14.4 Dividends 259
14.5 CP Valuation 261
14.6 CP with Excess Liquidation Preferences or Dividends 263
14.7 Combining RP and CP 265
14.8 Comparing RP and CP 267
Summary 269
Key Terms 269
References 269
Exercises 269
CHAPTER 15 LATER ROUND INVESTMENTS 271
15.1 Series B 271
15.2 A Conversion Shortcut 276
XXM CONTENTS
15.3 Series C 277
15.4 Dividends in Later Rounds 281
15.4.1 Accrued Cash Dividends 281
15.4.2 PIK Dividends 283
15.5 Beyond Series C 284
Summary 287
Key Terms 287
Exercises 287
CHAPTER 16 PARTICIPATING CONVERTIBLE PREFERRED STOCK 289
16.1 Binary Options 290
16.2 The Valuation of PCP 291
16.3 The Valuation of PCPC 293
16.4 Series B and Beyond 295
Summary 302
Key Terms 302
References 302
Exercises 302
CHAPTER 17 IMPLIED VALUATION 304
17.1 Post Money Valuation Revisited 305
17.2 Measurement of Portfolio Value 309
17.3 Down Rounds? 313
17.4 How to Avoid Valuation Confusion 316
Summary 317
Key Terms 317
Exercises 317
CHAPTER 18 COMPLEX STRUCTURES 319
18.1 Management Carve outs 319
18.2 Dealing with Partners 326
18.3 A Complex Example 329
Summary 333
Key Terms 333
Exercises 334
contents xxiii
PART IV
THE FINANCE OF INNOVATION
CHAPTER 19 R D FINANCE 339
19.1 R D Around the World 339
19.2 Two Touchstones 345
19.2.1 Drug Development 345
19.2.2 Energy Innovation 348
19.3 How Is R D Financed? 350
19.4 Where Do We Go from Here? 355
Summary 355
Key Terms 356
References 356
CHAPTER 20 MONTE CARLO SIMULATION 357
20.1 Event Trees 357
20.2 Simulation with Continuous Probability Distributions 362
20.3 Simulation with Multiple Sources of Uncertainty 373
Summary 376
Key Terms 376
Exercises 377
CHAPTER 21 REAL OPTIONS 379
21.1 Decision Trees 380
21.2 Real Options in R D 382
21.3 The Valuation of Real Options 383
21.4 Risk Neutral Probabilities 388
21.5 Drugco, revisited 395
Summary 398
Key Terms 399
Exercises 399
CHAPTER 22 BINOMIAL TREES 401
22.1 The Black Scholes Equation, Revisited 401
22.2 Multiple Strike Prices and Early Exercise 410
XXiV CONTENTS
22.3 Dividends 413
Summary 419
Key Terms 419
References 419
Exercises 420
CHAPTER 23 GAME THEORY 421
23.1 What Is Game Theory? 421
23.2 Simultaneous Games 425
23.3 Sequential Games 435
23.4 Game Theory and Real Options 440
Summary 445
Key Terms 445
Exercises 446
CHAPTER 24 R D VALUATION 447
24.1 Drug Development 447
24.2 Energy 458
24.3 The Forest and the Trees 466
Summary 466
References 467
Exercises 467
APPENDIX A INFORMATION SOURCES FOR VENTURE CAPITAL 468
APPENDIX B SAMPLE TERM SHEET 485
APPENDIX C THE VCFI SPREADSHEETS 501
APPENDIX D GUIDE TO CRYSTAL BALL 507
GLOSSARY 533
INDEX 557
|
| adam_txt |
BRIEF CONTENTS
PREFACE—A READER'S GUIDE vii
ACKNOWLEDGMENTS xiii
CONTENTS xvii
PARTI
VC BASICS
CHAPTER 1 THE VC INDUSTRY 3
CHAPTER 2 VC PLAYERS 21
CHAPTER 3 VC RETURNS 45
CHAPTER 4 THE COST OF VENTURE CAPITAL 65
CHAPTER 5 THE BEST VCs 83
CHAPTER 6 VC AROUND THE WORLD 98
PART II
TOTAL VALUATION
CHAPTER 7 THE ANALYSIS OF VC INVESTMENTS 123
CHAPTER 8 TERM SHEETS 145
CHAPTER 9 PREFERRED STOCK 163
CHAPTER 10 THE VC METHOD 179
CHAPTER 11 DISCOUNTED CASH FLOW ANALYSIS OF GROWTH
COMPANIES 195
CHAPTER 12 COMPARABLES ANALYSIS 213
v
Vi BRIEF CONTENTS
PART III
PARTIAL VALUATION
CHAPTER 13 OPTION PRICING 231
CHAPTER 14 THE VALUATION OF PREFERRED STOCK 252
CHAPTER 15 LATER ROUND INVESTMENTS 271
CHAPTER 16 PARTICIPATING CONVERTIBLE PREFERRED STOCK 289
CHAPTER 17 IMPLIED VALUATION 304
CHAPTER 18 COMPLEX STRUCTURES 319
PART IV
THE FINANCE OF INNOVATION
CHAPTER 19 R D FINANCE 339
CHAPTER 20 MONTE CARLO SIMULATION 357
CHAPTER 21 REAL OPTIONS 379
CHAPTER 22 BINOMIAL TREES 401
CHAPTER 23 GAME THEORY 421
CHAPTER 24 R D VALUATION 447
APPENDIX A INFORMATION SOURCES FOR VENTURE CAPITAL 468
APPENDIX B SAMPLE TERM SHEET 485
APPENDIX C THE VCFI SPREADSHEETS 501
APPENDIX D GUIDE TO CRYSTAL BALL 507
GLOSSARY 533
INDEX 557
CONTENTS
PARTI
VC BASICS
CHAPTER 1 THE VC INDUSTRY 3
1.1 What Is Venture Capital? 3
1.2 What Do Venture Capitalists Do? 9
1.3 The History of Venture Capital 10
1.4 Patterns of VC Investment in the United States 15
1.4.1 Investments by Stage 15
1.4.2 Investments by Industry 17
1.4.3 Investments by U.S. Region 18
Summary 19
Key Terms 20
References 20
CHAPTER 2 VC PLAYERS 21
2.1 Firms and Funds 21
2.2 The Limited Partners 27
2.3 VC Partnership Agreements 29
2.3.1 Management Fees 29
2.3.2 Carried Interest 31
2.3.3 Restrictive Covenants 37
Summary 40
Key Terms 41
References 41
Exercises 41
Appendix 2.A: EarlyBird Ventures I 42
Appendix 2.B: Talltree Ventures IV 43
Appendix 2.C: Owl Ventures IX 44
xvii
xviii contents
CHAPTER 3 VC RETURNS 45
3.1 Industry Returns 45
3.1.1 Definitions 45
3.1.2 A Gross Return Index 47
3.1.3 A Net Return Index 49
3.2 Fund Returns 52
3.2.1 Definitions 52
3.2.2 Evidence 58
Summary 61
Key Terms 61
References 62
Exercises 62
CHAPTER 4 THE COST OF VENTURE CAPITAL 65
4.1 The Capital Asset Pricing Model 65
4.2 Beta and the Banana Birds 69
4.3 Estimating the Cost of VC 74
Summary 80
Key Terms 80
References 80
Exercises 81
CHAPTERS THE BEST VCs 83
5.1 The Economics of VC 83
5.2 The Best VCs: A Subjective List 86
5.3 VC Value Added and the Monitoring of Portfolio Firms 94
Summary 97
Key Terms 97
References 97
CHAPTER 6 VC AROUND THE WORLD 98
6.1 The Global Distribution of VC Investing 98
6.2 The Cost of International Venture Capital 110
6.2.1 Baseline Model: The Global CAPM 110
6.2.2 Objections and Extensions to the Global CAPM 112
6.2.3 A Global Multifactor Model for Venture Capital 116
CONTENTS Xix
Summary 117
Key Terms 118
References 118
Exercises 118
PART II
TOTAL VALUATION
CHAPTER 7 THE ANALYSIS OF VC INVESTMENTS 123
7.1 VC investments: The Historical Evidence 123
7.2 The Investment Process 134
Summary 143
Key Terms 144
References 144
CHAPTER 8 TERM SHEETS 145
8.1 The Basics 146
8.1.1 Investors 147
8.1.2 Price Per Share 148
8.1.3 Pre money and Post money Valuation 148
8.1.4 Capitalization 149
8.2 The Charter 150
8.2.1 Dividends 152
8.2.2 Liquidation Preference 152
8.2.3 Voting Rights and Other Protective Provisions 153
8.2.4 Mandatory Conversion 153
8.2.5 Redemption Rights 153
8.3 Investor Rights Agreement 154
8.3.1 Registration Rights 157
8.3.2 Matters Requiring Investor—Director Approval 157
8.3.3 Employee Stock Options 158
8.4 Other Items 158
8.4.1 Rights and Restrictions 159
8.4.2 Founders' Stock 160
Summary 160
Key Terms 160
References 161
Exercises 161
XX CONTENTS
CHAPTER 9 PREFERRED STOCK 163
9.1 Types of Preferred Stock 163
9.2 Antidilution Provisions 173
Summary 177
Key Terms 177
References 177
Exercises 178
CHAPTER 10 THE VC METHOD 179
10.1 The VC Method: Introduction 179
10.1.1 Exit Valuation 180
10.1.2 Target Returns 181
10.1.3 Expected Retention 183
10.1.4 The Investment Recommendation 184
10.2 The Standard VC Method 185
10.3 The Modified VC Method 186
Summary 192
Key Terms 192
References 193
Exercises 193
CHAPTER 11 DISCOUNTED CASH FLOW ANALYSIS OF GROWTH
COMPANIES 195
11.1 DCF Analysis: Concepts 196
11.2 DCF Analysis: Mechanics 198
11.3 Graduation Value 203
11.4 DCF Analysis: The Reality Check Model 207
11.4.1 Baseline Assumptions for the Reality Check DCF 207
Summary 211
Key Terms 211
References 212
Exercises 212
CHAPTER 12 COMPARABLES ANALYSIS 213
12.1 Introduction to Comparables Analysis 214
12.2 Choosing Comparable Companies 219
12.3 Using Comparable Companies to Estimate the Cost of Capital 223
Summary 225
Key Terms 226
CONTENTS XXJ
References 226
Exercises 226
Appendix 12.A Potential Comparables for Semico 227
PART III
PARTIAL VALUATION
CHAPTER 13 OPTION PRICING 231
13.1 European Options 232
13.2 Pricing Options using a Replicating Portfolio 234
13.3 The Black Scholes Solution 238
13.4 American Options 242
13.5 Random Expiration Options 243
13.6 Reading Exit Diagrams 245
13.7 Carried Interest as an Option 247
Summary 249
Key Terms 249
References 249
Exercises 250
Appendix 13.A RE Options: Technical Details 251
CHAPTER 14 THE VALUATION OF PREFERRED STOCK 252
14.1 Base Case Option Pricing Assumptions 253
14.2 RP Valuation 254
14.3 Excess Liquidation Preferences 257
14.4 Dividends 259
14.5 CP Valuation 261
14.6 CP with Excess Liquidation Preferences or Dividends 263
14.7 Combining RP and CP 265
14.8 Comparing RP and CP 267
Summary 269
Key Terms 269
References 269
Exercises 269
CHAPTER 15 LATER ROUND INVESTMENTS 271
15.1 Series B 271
15.2 A Conversion Shortcut 276
XXM CONTENTS
15.3 Series C 277
15.4 Dividends in Later Rounds 281
15.4.1 Accrued Cash Dividends 281
15.4.2 PIK Dividends 283
15.5 Beyond Series C 284
Summary 287
Key Terms 287
Exercises 287
CHAPTER 16 PARTICIPATING CONVERTIBLE PREFERRED STOCK 289
16.1 Binary Options 290
16.2 The Valuation of PCP 291
16.3 The Valuation of PCPC 293
16.4 Series B and Beyond 295
Summary 302
Key Terms 302
References 302
Exercises 302
CHAPTER 17 IMPLIED VALUATION 304
17.1 Post Money Valuation Revisited 305
17.2 Measurement of Portfolio Value 309
17.3 Down Rounds? 313
17.4 How to Avoid Valuation Confusion 316
Summary 317
Key Terms 317
Exercises 317
CHAPTER 18 COMPLEX STRUCTURES 319
18.1 Management Carve outs 319
18.2 Dealing with Partners 326
18.3 A Complex Example 329
Summary 333
Key Terms 333
Exercises 334
contents xxiii
PART IV
THE FINANCE OF INNOVATION
CHAPTER 19 R D FINANCE 339
19.1 R D Around the World 339
19.2 Two Touchstones 345
19.2.1 Drug Development 345
19.2.2 Energy Innovation 348
19.3 How Is R D Financed? 350
19.4 Where Do We Go from Here? 355
Summary 355
Key Terms 356
References 356
CHAPTER 20 MONTE CARLO SIMULATION 357
20.1 Event Trees 357
20.2 Simulation with Continuous Probability Distributions 362
20.3 Simulation with Multiple Sources of Uncertainty 373
Summary 376
Key Terms 376
Exercises 377
CHAPTER 21 REAL OPTIONS 379
21.1 Decision Trees 380
21.2 Real Options in R D 382
21.3 The Valuation of Real Options 383
21.4 Risk Neutral Probabilities 388
21.5 Drugco, revisited 395
Summary 398
Key Terms 399
Exercises 399
CHAPTER 22 BINOMIAL TREES 401
22.1 The Black Scholes Equation, Revisited 401
22.2 Multiple Strike Prices and Early Exercise 410
XXiV CONTENTS
22.3 Dividends 413
Summary 419
Key Terms 419
References 419
Exercises 420
CHAPTER 23 GAME THEORY 421
23.1 What Is Game Theory? 421
23.2 Simultaneous Games 425
23.3 Sequential Games 435
23.4 Game Theory and Real Options 440
Summary 445
Key Terms 445
Exercises 446
CHAPTER 24 R D VALUATION 447
24.1 Drug Development 447
24.2 Energy 458
24.3 The Forest and the Trees 466
Summary 466
References 467
Exercises 467
APPENDIX A INFORMATION SOURCES FOR VENTURE CAPITAL 468
APPENDIX B SAMPLE TERM SHEET 485
APPENDIX C THE VCFI SPREADSHEETS 501
APPENDIX D GUIDE TO CRYSTAL BALL 507
GLOSSARY 533
INDEX 557 |
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| id | DE-604.BV022308784 |
| illustrated | Illustrated |
| index_date | 2024-07-02T16:57:41Z |
| indexdate | 2024-07-09T20:54:40Z |
| institution | BVB |
| isbn | 9780470074282 0470074280 |
| language | English |
| lccn | 2006015986 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015518636 |
| oclc_num | 70060933 |
| open_access_boolean | |
| owner | DE-91 DE-BY-TUM DE-92 |
| owner_facet | DE-91 DE-BY-TUM DE-92 |
| physical | XXIV, 568 S. graph. Darst. |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | Wiley |
| record_format | marc |
| spelling | Metrick, Andrew Verfasser (DE-588)128782269 aut Venture capital and the finance of innovation Andrew Metrick Hoboken, NJ Wiley 2007 XXIV, 568 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Capital de risco larpcal Finanças larpcal Investimentos larpcal Risicokapitaal gtt Venture capital Technological innovations Finance Innovationsförderung (DE-588)4114020-5 gnd rswk-swf Innovation (DE-588)4027089-0 gnd rswk-swf Risikokapital (DE-588)4124067-4 gnd rswk-swf Risikokapital (DE-588)4124067-4 s Innovation (DE-588)4027089-0 s DE-604 Innovationsförderung (DE-588)4114020-5 s 1\p DE-604 http://www.loc.gov/catdir/toc/ecip0614/2006015986.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015518636&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Metrick, Andrew Venture capital and the finance of innovation Capital de risco larpcal Finanças larpcal Investimentos larpcal Risicokapitaal gtt Venture capital Technological innovations Finance Innovationsförderung (DE-588)4114020-5 gnd Innovation (DE-588)4027089-0 gnd Risikokapital (DE-588)4124067-4 gnd |
| subject_GND | (DE-588)4114020-5 (DE-588)4027089-0 (DE-588)4124067-4 |
| title | Venture capital and the finance of innovation |
| title_auth | Venture capital and the finance of innovation |
| title_exact_search | Venture capital and the finance of innovation |
| title_exact_search_txtP | Venture capital and the finance of innovation |
| title_full | Venture capital and the finance of innovation Andrew Metrick |
| title_fullStr | Venture capital and the finance of innovation Andrew Metrick |
| title_full_unstemmed | Venture capital and the finance of innovation Andrew Metrick |
| title_short | Venture capital and the finance of innovation |
| title_sort | venture capital and the finance of innovation |
| topic | Capital de risco larpcal Finanças larpcal Investimentos larpcal Risicokapitaal gtt Venture capital Technological innovations Finance Innovationsförderung (DE-588)4114020-5 gnd Innovation (DE-588)4027089-0 gnd Risikokapital (DE-588)4124067-4 gnd |
| topic_facet | Capital de risco Finanças Investimentos Risicokapitaal Venture capital Technological innovations Finance Innovationsförderung Innovation Risikokapital |
| url | http://www.loc.gov/catdir/toc/ecip0614/2006015986.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015518636&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT metrickandrew venturecapitalandthefinanceofinnovation |