Venture-stage equity as an asset class

Assets

Not the business of running a fund but the shape of the returns: extreme skew, illiquidity, and a persistence of manager performance that shows up nowhere else.

7 books

Start here

  1. AngelJason Calacanis, 2017
  2. Super FoundersAli Tamaseb, 2021
  3. The Venture Capital CyclePaul Gompers, Josh Lerner, 2004

Books 7

The Venture Capital Cycle
T2 The Venture Capital Cycle
Paul Gompers, Josh Lerner · 2004 · The empirical work that established how venture returns and cycles behave.
Open Library
Boulevard of Broken Dreams
T2 Boulevard of Broken Dreams
Josh Lerner · 2009 · Why state attempts to manufacture a venture asset class mostly fail.
Open Library
Doing Capitalism in the Innovation Economy
T2 Doing Capitalism in the Innovation Economy
William H. Janeway · 2012 · A venture veteran on the state, bubbles and how innovation gets funded
Open Library
Marc Andreessen
Venture Capital and the Finance of Innovatio
T3 Venture Capital and the Finance of Innovation
Andrew Metrick, Ayako Yasuda · 2006 · The textbook treatment of valuation, terms and expected returns.
Open Library
The Business of Venture Capital
T3 The Business of Venture Capital
Mahendra Ramsinghani · 2011 · Fund mechanics, LP terms and how the return actually reaches an investor.
Open Library
Angel
T3 Angel
Jason Calacanis · 2017 · The individual's version of the power law, written from a small sample of wins.
Open Library
Super Founders
T3 Super Founders
Ali Tamaseb · 2021 · Data on 30,000 companies testing what actually predicts a billion-dollar outcome.
Open Library