As the second decade of the new millennium dawns, financial markets and national economies remain in transition. This book is about the new world of finance and the role played by private equity and venture capital. It reflects the views of over 90 industry leaders from around the globe.
The Future of Finance introduces private equity and venture capital as well as the industry’s top firms, what they do, and how they do it. It discusses events that triggered the global downturn: from no rules to no credit to no deals to no exits. It also highlights key issues going forward. These include proposed government regulation, succession, and globalization. The author offers insights into future opportunities: distressed and secondary offerings in private equity, digital media and alternative energy in venture capital as well as the proposal for a new corporate norm, the “+” model to replace today’s corporate pyramid. This economic paradigm, premised on an alignment of interests between owners, managers, and lenders, could reinvent the private equity and venture markets and reshape the global economy.
The intent of the author is not to lionize but to explain and to look critically at the industry’s present and future. If tomorrow will be different than today, then the way business has been done should be re-examined. Dan Schwartz’s critical look at the global economy, the industry’s role within it, and where both are headed in the years ahead will provoke wide discussion and debate.