Venture Capital and Private Equity Contracting,
Edition 1
An International Perspective
By Douglas J. Cumming and Sofia A. Johan
Publication Date:
21 Jan 2009
Description
Other books present corporate finance approaches to the VC/PE industry, but many key decisions require an understanding of the ways that law and economics work together. Venture Capital and Private Equity Contracting is better than straight corporate finance textbooks because it offers broad perspectives and principles that enable readers to deduce the economic implications of specific contract terms. This approach avoids the common pitfalls of implying that contractual terms apply equally to firms in any industry anywhere in the world.
Key Features
- Explores the economic implications of contract terms for start-up firms in various industries
- Pairs international data with explanations and examples about differences in VC and PE national and regional markets
- Contains sample contracts, including limited partnership agreements, term sheets, shareholder agreements, and subscription agreements
- Presents international datasets on limited partnership agreements between institutional investors and VC and PE funds
About the author
By Douglas J. Cumming, DeSantis Distinguished Professor of Finance and Entrepreneurship, College of Business, Florida Atlantic University - Boca Raton, FL, USA and Sofia A. Johan, Assistant Professor of Finance, College of Business, Florida Atlantic University - Boca Raton, FL, USA
Table of Contents
PrefacePart I. Introduction1. Introduction and Overview2. Agency Costs and Forms of Finance Part II. Fund Structure and Governance3. What Should Fund Managers Care About? Perspectives from Institutional Investors4. Limited Partnership Agreements5. Compensation Contracts 6. Fundraising and Regulation7. Specialized Investment Mandates8. The Role of Government and Alternative Policy OptionsPart III. Financial Contracting between Funds and Entrepreneurs9. The Investment Process10. Security Design11. Security Design and Adverse Selection12. Corporate Venture Capital Fund Contracts13. Preplanned Exits and Contract DesignPart IV. Investor Effort14. Investor value-added15. Do contracts affect effort?16. Where to invest?17. How many investee firms?Part V. Divestment18. The Divestment Process19. Exit Outcomes20. Contracts and Exits21. Returns, Valuation and DisclosurePart VI. Conclusion and Appendices22. Summary and Concluding RemarksAppendix 1: Sample Limited Partnership Fund AgreementAppendix 2: Sample Term SheetAppendix 3: Sample Shareholder AgreementAppendix 4: Sample Subscription AgreementIndex
Book details
ISBN:
9780121985813
Page Count: 792
Retail Price
:
£68.50
Gregoriou, Kooli, and Kraeussl. Venture Capital in Europe. 9780750682596. 2007. 432 pp., $97.95. Yescombe. Principles of Project Finance. 9780127708515. 2002. 344 pp., $93.95.Yescombe. Public-Private Partnerships: Principles of Policy and Finance. 2007. 9780750680547. 368 pp., $87.95.
Audience
Upper-division undergraduates and graduate students studying financial and legal aspects of venture capital and private equity
Related Titles
