Gompers and Lerner demystify the venture capital investing and fundraising process. Aspiring venture capitalists and entrepreneurs can expect a big return from an investment in this book.
Steven N. Kaplan, Neubauer Family Professor of Entrepreneurship and Finance, Graduate School of Business, University of Chicago
In The Venture Capital Cycle Josh Lerner and Paul Gompers bridge the gap between practice and theory, systematically describing and analyzing important issues influencing investment in entrepreneurial start-ups. By undertaking rich empirical analysis in the context of an analytically sound framework, the authors combine real world sensibility and intellectual rigor, making this book essential reading for investors, venture capitalists, entrepreneurs, and students of finance.
David F. Swensen, Chief Investment Officer, Yale University
This book presents a systematic account of how the venture capital industry works in the United States. It is academic yet practical, thorough yet a good read. It will set the standard for future research in entrepreneurial finance.
Andrei Shleifer, Professor of Economics, Harvard University
A valuable set of perspectives on financial systems in transition economies from many of the leading scholars in finance.
Andrei Shleifer, Professor of Economics, Harvard University
The Venture Capital Cycle provides an accurate, comprehensive, and insightful description of the economics and business of venture capital. This second edition is essential reading for entrepreneurs, venture capitalists, policymakers, and academics interested in the economics of venture capital and innovation.
Steven N. Kaplan, Neubauer Family Professor of Entrepreneurship and Finance, University of Chicago Graduate School of Business
Gompers and Lerner bring cutting-edge theory to bear on venture capital practice. The second edition of The Venture Capital Cycle belongs on the bookshelf of academics and practitioners alike.
Ronald J. Gilson, Meyers Professor of Law and Business, Stanford Law School, and Stern Professor of Law and Business, Columbia Law School
Insightful and well documented—excellent reading for veterans as well as anyone exploring this fascinating and challenging 'industry' for the first time.
Peter O. Crisp, Founding and Former Managing Partner, Venrock Associates, Praise for the first edition
