This paper reviews the existing literature on venture capital and private equity. The paper
emphasises the importance of examining venture capital in the light of recent developments …

Venture capital, angel financing, and crowdfunding have evolved and matured in the
entrepreneurial finance market. These market developments have also been accompanied …

This article examines the economics of financing small business in private equity and debt
markets. Firms are viewed through a financial growth cycle paradigm in which different …

The paper describes the activities of venture capitalists as an orderly process involving five
sequential steps. These are (1) Deal Origination: The processes by which deals enter into …

We derive a role for inside investors, such as venture capitalists, in resolving various agency
problems that arise in a multistage financial contracting problem. Absent an inside investor …

Investment by wealthy individuals, known as 'angels,'in startup firms is quite significant and
has taken off in the last few years. Angels invest in the company at an earlier stage than …

Using two complementary theoretical perspectives, we develop hypotheses regarding the
determinants of the return required by venture capitalists and test them on a sample of over …

This paper investigates the structure of outside investment in a profitable entrepreneurial
venture. Though efficient, financing the venture up front may be infeasible because the …

Enterpreneurship is central to the market process, and yet most theories of it fail to tackle the
problem of how economic agents learn from their experience. This book redresses this by …

This research analyzes the venture capitalist's incentives to maximize the profits of the
entrepreneurs of ventures and the limited partners of a venture fund. Venture capital is a …