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Foreword. Preface. Acknowledgments. Part One: Raising the Venture Fund. Chapter 1: The Universe of Limited Partners. An Overview of Alternative Assets. Sources of Capital. Comparison of LPs. In Summary. Chapter 2: Fund Due Diligence. Sourcing and First Screens. Fund Due Diligence: How LPs Evaluate Venture Firms. Evaluating the Fund Managers. Emerging Managers: A Promise of the Future. The Quest for the Elusive Top Quartile Managers. Fund Investment Strategy. Market Timing. Fund Size and Portfolio Construction vis-à-vis Fund Strategy. Fit within LPs Current Portfolio. Why LPs Terminate Existing Relationships. In Summary. Chapter 3: Terms of Investment: The Limited Partnership Agreement. Sample Terms in a Funds PPM. Other LP-GP Terms. What Matters Most. In Summary. Chapter 4: Fund Structure, Governance, and Operations. Key Constituents of the GP Team. Finding Suitable Partners. Fund Governance and Economics. Governance of GP LLC. In Summary. Chapter 5: Getting to the First Close. Build Your Target List of Investors. Fund Marketing Materials. Presentation Slides. Making the Presentation Pitch: Drink Your Own Kool-Aid. Attracting the Lead Investor: Your Nut. Communicate, Create, and Maintain Momentum. Offering Sweeteners to Attract LPs: A Double-Edged Sword. The Role of Placement Agents in Fund Raising. Caveat Emptor. In Summary. Part Two: The Investment Process. Chapter 6: The Art of Sourcing Investment Opportunities. The Best Source: The Network. The Fountainheads of Academia Comps). Discounted Cash Flow (DCF) Method. In Summary. Chapter 10: Structuring Investment Transactions. The Spirit of the Term Sheet. Negotiation Stress Points. Milestone-Based Financing: Risk Mitigation or Distraction. Structuring Terms to Generate Target Returns. Governance and Control: Protecting Your Securities. Exit-Related Provisions. Other Terms. Toward a Simpler Term Sheet for Smaller Investments. Syndicating Investments. The Closing Process: After the Term Sheet. In Summary. Chapter 11: Behind Every Successful CEO Stand a Few Good Board VCs. The Need for Director Education. Roles and Responsibilities of a Board Member. Board Composition and Orientation. Board Practices. Get that Gavel: Overview of Roberts Rules of Order. Value Creation: How to Support Your Portfolio Company’s CEO. A CEO’s Perspective on Venture Capitalist Value Add. Setting the Tone through Board Culture. Improving the Board Game. In Summary. Chapter 12: Exit Strategies. Pre-Conditions for an Exit. Acquisitions: The primary path to an exit. The Sell Process. When an Acquirer Comes Knocking. The Buy-Side Acquisition Process. Deal Killers. Acquisition Case Study: Mint.com generates 5X Cash-on-Cash return in two years. Initial Public Offering. Private Exchanges: Necessity Drives Liquidity Solutions. In Summary. Chapter 13: Summing Up. Aptitudes and Attitudes of Successful Practitioners. Drawbacks. What about Luck? As You Go Forward. Appendix A: Case Studies. Appendix B: Whats on the Companion Website. Notes. About the Author. Index.

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