Venture Capital funds are the fastest growing sector of thefinancial industry, and possibly the least understood. In thisbook, the author provides a primer on what some of the world's bestventure capitalists have in common. How do the world's top venturecapitalists consistently obtain supernormal returns? How do theyadd value to entrepreneurs they have backed? Why is a top venturecapitalist like a skilled chef?
- How did Lip Bu Tan, when he was Chairman of Walden, manage toinvest in Creative Technology, despite the CEO's aversion forVCs?
- How did Nam Ho, Founder and Managing Partner of Altos Venture,turn an introduction by a Stanford Business School professor into aventure capital firm managing a quarter billion dollars ofcapital?
- How does Bing Gordon, Partner at Kleiner Perkins Caufield &Byers and author of the business plan that resulted in KPCB'sinvestment in Electronic Arts, time exits properly?
- Why did Soo Boon Koh, Managing Director of IGlobe Ventures,back a GPS company which was filing for Chapter 11, in the post9-11 market?
The Way of the VC: Having Top Venture Capitalists on YourBoard is essential reading for venture capital practitioners,including partners, principals, analysts, consultants and limitedpartnersboth institutional and private. It is also useful tostudents of finance who want a better understanding of what goes onin the venture capital world.
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About the Author
Yinglan Tan was the first director of 3i Venturelab China, ajoint-venture between private equity firm 3i (LSE:III) and INSEAD,one of the world's leading business schools. He has also served onthe boards of growth ventures in Asia and a U.S. private-equityfund of funds. Yinglan teaches modules on Entrepreneurial Financeand Entrepreneurial Management at Singapore Management University.Educated at Harvard, Stanford and Carnegie Mellon, Yinglan nowworks with the Singapore Government to enhance the venture capitaland entrepreneurship landscape in Singapore.Yinglan can be contacted at email@example.com.
Table of Contents
Chapter 1 The Call to Adventure.
Chapter 2 Finding the Right Partner at the Right Time: Focus onthe Forest, Not the Trees.
Chapter 3 Transitions in Partnership: A Bridge Over TroubledWaters.
Chapter 4 Growing Together.
Chapter 5 Smart Money: The Top VC on Your Board.
Chapter 6 If You Need to Woo a Turkey Buzzard.
Chapter 7 The Partnership Becomes Wildly Successful.
Chapter 8 Conclusion.
What People are Saying About This
The Way of the VC is the best book I have read on venturecapital with thoughtful advice for the entrepreneur. Yinglancaptures the wisdom of the ages, with the vision of an oracle hecaptures how a venture capitalist thinks, and how the best onesact.Timothy C. Draper, Founder & Managing Director, DraperFisher Jurvetson
With the emergence of venture capital investment as aprofessional practice, understanding the way in which this industryworks is critically important for practitioners and would-bepractitioners, whether they are (or aspire to be) working forentrepreneurial ventures, venture firms, or large institutionalcapital pools. I applaud Yinglan Tan, who has distilled manyinteresting "war stories" and experiences of venture capitalistsinto a useful and effective framework in The Way of theVC.Professor Josh Lerner, Jacob H. Schiff Professor ofInvestment Banking, Harvard Business School
Yinglan gives valuable accounts coupled with insightfulobservations about the past, present and future of an industry thatis still in its infancybut growing up fast. The book will alsohelp entrepreneurs who need venture capital financing by showingthem how VCs add value to their companies. This book belongs in thelibrary of anyone who has ever taken a serious interest in venturecapital.Neil Shen, Founding and Managing Partner, SequoiaCapital China
Venture capitalists rely heavily on personal judgment andexperience. This extensive collection of shared wisdom andviewpoints is therefore a valuable addition to the growing numberof VC textbooks and war stories. Yinglan has skillfully capturedthe Tao of VC practitioners and entrepreneurs in a lively andenlightening book.Lin Hong Wong, Author of Venture Capital FundManagement
Top-flight entrepreneurs are blessed with terrific ideas andboundless energy. But lacking capital, they must join together withVCs. The prescription is easy, the implementation tough.Entrepreneurs and VCs differ in orientation, background andinterests. In this lively and insightful volume, Yinglan Tan tellshow entrepreneurs can handle the relationship effectively, fromearly-stage conception through to a thriving company.Richard Zeckhauser, Frank P. Ramsey Professor of PoliticalEconomy, Harvard University