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Investing in Dynamic Markets : Venture Capital in the Digital Age - Henry Kressel

Investing in Dynamic Markets

Venture Capital in the Digital Age

Hardcover Published: 3rd September 2010
ISBN: 9780521111485
Number Of Pages: 280

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"What do venture capitalists actually do? How do they spend their time evaluating investment opportunities that are intended to provide significant returns for their investors?

This book should be on the bookshelf of any aspiring practitioner, and others should be challenged to contribute to the real knowledge base of venture capital investment methodology."---Bart Stuck Managing Director, Signal Lake

"Henry Kressel leads us through the pain and pleasure of investing in rapidly developing markets, using his insights from nearly a quarter of a century of investment experience, following a brilliant career in industrial research. This gives the reader an invaluable and essential insight into the art and science of venture investing from the rarely combined vantage points of the entrepreneur and investor; it should be required reading for either group."---Peter Scovell President, Newlyn Technologies Ltd

"I hope that policy makers, students, and practitioners alike will read Investing in Dynamic Markets. It tells the story of the long-term nature and impact of innovation and shows that good investment is a disciplined (not mysterious) process that requires finding the right management for the right stage of the company. It even makes a case for when venture capital works and why and gives us a glimpse of the silver lining from the bubble burst. Importantly it encourages us to apply these lessons of the last 20-30 years in considering investments in green technology and alternative energy. A data-driven story written in a style that is satisfying to read and absorb."---Teri Wiley Chief Executive, Cambridge Enterprise Limited, University of Cambridge

"Henry Kressel offers a unique perspective as both inventor and investor over the decades through which semis software, systems, and services emerged from the garage to permeate everyday life. Timeless lessons are illustrated through anecdotes of companies that became household names or trivia answers. The book captures the rigor, personalities, and chance that determine success and failure of the companies and their investment returns."---Michael S. Wishart Advisory Director, Goldman, Sachs & Co.

Without venture capital, many of the companies whose technical innovations sparked the digital revolution would not exist. Venture investments funded these firms to develop their bright ideas into commercial products that created new business models and established whole new markets. In Investing in Dynamic Markets , Henry Kressel, a senior partner at multi-billion-dollar global investing company Warburg Pincus, takes you behind the scenes of the private equity process. He draws on his extensive experience to show how venture capital works, why venture capitalists fund certain companies and not others, and what factors influence the success or failure of their high-risk, high-reward investments. He also discusses venture capital's future, now that the commercialization of technology requires larger investments and global market access. Written in clear, non-technical language, the book features informative case studies of venture capital funding in a wide range of industries, including telecommunications, software and services, semiconductors, and the Internet.

'Henry Kressel leads us through the pain and pleasure of investing in rapidly developing markets, using his insights from nearly a quarter of a century of investment experience, following a brilliant career in industrial research. This gives the reader an invaluable and essential insight into the art and science of venture investing from the rarely combined vantage points of the entrepreneur and investor; it should be required reading for either group.' Peter Scovell, President, Newlyn Technologies Ltd 'This book fulfils a distinct gap in the business literature. What do venture capitalists actually do? How do they spend their time evaluating investment opportunities that are intended to provide significant returns for their investors? Most importantly, it explains how venture capitalists tolerate failure: lots of lemons and a few pearls, but the pearls pay for all the rest many times over. The role of chance, how important people are in commercial success, is highlighted here in thirteen in-depth case studies, which reveal what is actually involved in venture capital investing in the real world. This book should be on the bookshelf of any aspiring practitioner, and others should be challenged to contribute to the real knowledge base of venture capital investment methodology.' Bart Stuck, Managing Director, Signal Lake 'I hope that policy makers, students, and practitioners alike will read Investing in Dynamic Markets. It tells the story of the long-term nature and impact of innovation and shows that good investment is a disciplined (not mysterious) process that requires finding the right management for the right stage of the company. It even makes a case for when venture capital works and why and gives us a glimpse of the silver lining from the bubble burst. Importantly it encourages us to apply these lessons of the last 20-30 years in considering investments in green technology and alternative energy. A data driven story written in a style that is satisfying to read and absorb.' Teri Wiley, Chief Executive, Cambridge Enterprise Limited, University of Cambridge 'Henry Kressel offers a unique perspective as both inventor and investor over the decades through which semis, software, systems, and services emerged from the garage to permeate everyday life. Timeless lessons are illustrated through anecdotes of companies that became household names or trivia answers. The book captures the rigor, personalities, and chance that determine success and failure of the companies and their investment returns.' Michael S. Wishart, Advisory Director, Goldman, Sachs and Co

List of figuresp. viii
List of tablesp. xii
Acknowledgmentsp. xiii
Introductionp. 1
Hot markets, investment waves, bubbles, charlatansp. 12
Financing high-risk businessesp. 41
Venture investing: An uncertain sciencep. 62
Investing in a transformed market: Telecommunicationsp. 96
Investing in a transformed market: Semiconductorsp. 127
Investing in early-stage technology. The Internet in the 1990sp. 158
Software products and servicesp. 186
Venture capital: Past and futurep. 216
Appendixp. 250
Bibliographyp. 254
Indexp. 257
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780521111485
ISBN-10: 052111148X
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 280
Published: 3rd September 2010
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 22.8 x 15.9  x 1.7
Weight (kg): 0.594

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