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The Venture Capital Deformation

Value Destruction throughout the Investment Process

Palgrave Macmillan

Authors:

  • Targets the key reasons behind declining venture capital returns
  • Assesses the long-term impact of venture capital on entrepreneurial activity
  • Considers general partner operating practices from the view of advisors, limited partners, and entrepreneurs

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xix
  2. Introduction to Venture Capital

    1. Front Matter

      Pages 1-1
  3. Conclusions: The Venture Capital Industry at the Crossroads

    1. Front Matter

      Pages 275-275
    2. Improving the Substandard Venture Capital Model

      • Darek Klonowski
      Pages 311-324
  4. Back Matter

    Pages 325-331

About this book

In spite of the robust development of venture capital that has occurred over the last three decades, returns from venture capital have been declining. This book focuses on a simple question: why? The answer lies in the context of multiple deformations that have occurred throughout the venture capital process. The book critically assesses the ways in which interactions between different stakeholders in the venture capital ecosystem change (or "deform") venture capital, decreasing its value. Klonowski also reveals that venture capital actually has few benefits—and some outright disadvantages—for entrepreneurs, and it can create a self-perpetuating cycle of investment and loss for the entire venture capital industry. This is especially true as corporate governance and compensation structures may create significant misalignments, incongruities, and conflicts of interest between general and limited partners.

Authors and Affiliations

  • Brandon University, Brandon, Canada

    Darek Klonowski

About the author

Darek Klonowski is Professor of Business Administration at Brandon University, Canada. Prior to joining academia, he worked in the venture capital and private equity industry. He has published three books with Palgrave Macmillan: The Venture Capital Investment Process (2010), Private Equity in Poland (2011), and Private Equity in Emerging Markets (2012).

Bibliographic Information

  • Book Title: The Venture Capital Deformation

  • Book Subtitle: Value Destruction throughout the Investment Process

  • Authors: Darek Klonowski

  • DOI: https://doi.org/10.1007/978-3-319-70323-7

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018

  • Hardcover ISBN: 978-3-319-70322-0Published: 20 December 2017

  • Softcover ISBN: 978-3-319-88922-1Published: 11 September 2018

  • eBook ISBN: 978-3-319-70323-7Published: 29 November 2017

  • Edition Number: 1

  • Number of Pages: XIX, 331

  • Number of Illustrations: 1 b/w illustrations, 26 illustrations in colour

  • Topics: Capital Markets, Risk Management, Investment Appraisal

Buy it now

Buying options

eBook USD 119.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 159.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 159.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access