In venture Capital at the Crossroads, Bygrave and Timmons examine in depth the venture capital industry and its role in the creation of new businesses. They provide original research on the changing size and nature of the industry and how risk taking and the time perspectives of its practitioners are changing as the boom of the 1980s fades.
They explore the industry from the viewpoint of the individual venture capitalists and the constant decisions they face: when to take the investment plunge, how long or how short a perspective to take on each deal, what level of return is acceptable, and how to cut off a losing company.
With stories of companies like Lotus, DEC and Apple, the authors search for the factors - experience, contacts, networks, and old-fashioned know-how - that make a successful venture capitalist.
'This long overdue book is an exceptional chronicle of venture capital and its budding start-ups. The authors successfully capture the essence of how entrepreneurs and investors shape extraordinary new industries.'
G. Kirb, President and CEO Genentech, Inc.
'I found this book to be on the mark and a valuable history of the changes in the industry since its founding.
Peter Brooke, Founder Advent International Corporation
'Particularly useful to European venture capitalists who can learn a great deal from the authors' insights into the successes and failure of venture capital in the United States.'
Adrian Beecroft, Apax Partners
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