Private Equity and Venture Capital in Europe_9 potx
Private Equity and Venture Capital in Europe_1 pot
... Fundamentals of Private Equity and Venture
Capital
3
1 .1 Defi nition of Private Equity and Venture Capital 3
1 .2 Main Differences Between Corporate Finance and
Entrepreneurial Finance 5
... Theoretical Foundation of Private Equity and
Venture Capital
27
Introduction 27
3 .1 Theories about Corporation Financing 27
3 .2 A Review of the Venture...
Private Equity and Venture Capital in Europe_2 pptx
... factors
Strongly
negative
Strongly
negative
Starting
Early
growth
Limited to the
inventory financing
Negative but
reducing
Negative but
reducing
Positive and
increasing
Rapid
growth
Limited to the
inventory financing
Positive and
increasing
Positive ... strong
and effective interdependence between the fi rm’s investment and fi nancing
must exist and must continue during the entire le...
Private Equity and Venture Capital in Europe_3 pdf
... of private equity and venture capital
Gompers and Lerner wrote about the “ venture capital cycle ” and further
expanded the idea: from a fi nancial standpoint, private equity fi nancing or venture ... subdivide the venture capital (and private equity) cycle into
standard phases: fundraising, investing, and exit.
This is the right way to analyze private...
Private Equity and Venture Capital in Europe_5 doc
... implement private equity and venture capital deals and the
interrelation of taxation on vehicles, investors, and companies in the EU.
6.1 FUNDAMENTAL ROLE OF TAXATION IN PRIVATE EQUITY
AND VENTURE ... the private equity and venture capital industry
■ Necessity of permanent establishment
■ Presence of any fi scal incentive meant to encourage investme...
Private Equity and Venture Capital in Europe_6 docx
... oper-
ating in the private equity and venture capital industry apart from their fi scal
profi les.
Vehicles that will be available in Germany include:
■ Venture capital companies
■ Equity investment ... of 20% and capital gains
are de-taxed if money is invested in the same investments within 3 years.
For private individuals the system is less intricate, b...
Private Equity and Venture Capital in Europe_7 potx
... Elsevier, Inc. All rights reserved.2010
131
Investing
9
Investing is the core of private equity business and the way to develop a business
idea for the investor. When investing the venture capitalist: ... banks
Non-financial corporations
Other investors
Independent private venture
capital companies
Captive private venture
capital companies
Public and
endowment/acad...
Private Equity and Venture Capital in Europe_9 potx
... to the cost of equity capital as explained in Section 13.3.4.)
Using the cost of equity capital means that the capital structure effects are
included in the cash fl ow and not in the discount ... evaluation in
private and venture capital
12
12.1 COMPANY VALUATION
As explained in Part Two, the private equity process can be divided into differ-
ent phase...
Private Equity and Venture Capital in Europe_10 doc
... stage
financing
Vulture and distressed
financing
Expansion financing
FIGURE 14.1
Life cycle of a company.
221
Private Equity and Venture Capital in Europe: Markets, Techniques, and Deals
Copyright ... structures are used in venture capital operations dur-
ing the seed or start-up initiative: Business Angels and corporate venture capital-
ists. A Business A...
Private Equity and Venture Capital in Europe_11 pot
... for buildings and equipment including maintenance of electrical and lighting services,
refrigeration equipment, and catering and canteen services.
A15.3.2 Investment structure
The investment ... growth potential and leading position in the entertain-
ment and technology industries as well as the appeal of the domestic publishing market and
the opportunity to increase the...
Private Equity and Venture Capital in Europe_12 pdf
... modifying
the existing capital structure; for example, raising additional funds, renegotiat-
ing the debt, or raising new equity capital from existing shareholders or outside
investors (venture capitalists). ... allows:
The placement of minority shares of the risk capital, obtaining a capital gain
and continuing to hold the control of the company
CHAPTER
250 CHAPTER 16 Fina...
Private Equity and Venture Capital in Europe_15 potx
...
4523-05.
Levin , J. S. ( 1994 ) . Structuring venture capital, private equity and entrepre-
neurial transaction . Chicago, IL : CCH Inc .
339
Index
Netherlands
private equity fi nance ... Guide to private equity & venture capital in
the UK & Europe . London : Pitman Publishing .
Venture Economics. (1988). Exiting venture capital investments . We...
Academic Press Private Equity and Venture Capital in Europe_2 pdf
... government decided that private individuals investing in
private equity are exempt from paying tax on capital gains when they are
reinvested in private equity.
■ Employee Retirement Income Security ... banks involved in direct investments in equity, instead they
invest through LPs. The banking system is involved in the equity market through
dealing and brokerag...
Academic Press Private Equity and Venture Capital in Europe_4 ppt
... types of investments: investment in a private
equity fund, in a private equity fund of funds, or the direct investment in equity
or the construction of a private equity fund and the involvement ... phases of equity investment are fundraising,
investing, managing and monitoring, and exit.
7.2.1 Fundraising
Fundraising is the promotion of a new equity investm...
Academic Press Private Equity and Venture Capital in Europe_9 pot
... growth potential and leading position in the entertain-
ment and technology industries as well as the appeal of the domestic publishing market and
the opportunity to increase the fi rm’s advertising ...
in reassuring IPO investors, so their involvement increases the possibility
of success in going public. Usually, IPOs realized with private equity inves-
tors create higher re...
Academic Press Private Equity and Venture Capital in Europe_12 potx
... Contract agreed and signed between investors and a
private equity company for the duration of the private equity investment.
311
Glossary
Private Investment in Public Equities (PIPES) : Investment ... accumulated from the
combination of standards set by public authorities and accepted accounting
standards.
Gatekeeper : Specialists advising institutional investors in...