Venture capital & the finance of innovation / Andrew Metrick, Yale School of Management, and Ayako Yasuda, Graduate School of Management, UC Davis.

Format:

Book

Author/Creator:

Metrick, Andrew, author.

Yasuda, Ayako, author.

Contributor:

Lippincott Library Book Endowment Fund.

Language:

English

Subjects (All):

Venture capital.

Technological innovations--Finance.

Technological innovations.

Physical Description:

1 volume (various pagings) : illustrations ; 26 cm

Edition:

Third edition.

Other Title:

Venture capital and the finance of innovation

Place of Publication:

Hoboken, NJ : Wiley, [2021]

Summary:

An invaluable resource for current and aspiring technology investors, Venture Capital and the Finance of Innovation provides an in-depth understanding of the tools and models needed to succeed in this competitive and highly fluid business environment. Building on a comprehensive introduction to fundamental financial and investment principles, the text guides the reader toward a robust skill set using enterprise valuation and preferred stock valuation models, risk and reward, strategic finance, and other concepts central to any venture capital and growth equity investment. Two features of the book stand out from other sources on the subject. First, it pays special attention to the enterprise valuation methodology for high-growth companies. What drives the value of a company that has little physical assets, losing money now but has a small chance of achieving great success in several years? How do you create estimates for sales, profit and return on capital when little data is available? The book answers these questions using a discounted cash flow model that is tailor-made for technology companies (DCF.xlsx downloadable from the instructor website), and the comparables model. Second, it highlights the most valuation-relevant feature of VC term sheets, namely the use of convertible preferred stock. The book shows the reader how to use a user-friendly and automated valuation model of VC preferred stock (available at www.vcvtools.com) to value various types of preferred stock and to visualize how term sheets split the values of the firm between entrepreneurs and VCs. -- Provided by publisher.

Notes:

Includes bibliographical references and index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Lippincott Library Book Endowment Fund.

Other Format:

Online version: Metrick, Andrew. Venture capital & the finance of innovation.

ISBN:

9781119490111

1119490111

OCLC:

1200832614

Publisher Number:

40030507667