Private Equity and Venture Capital in Europe 11 pot
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
... Managing and Monitoring Phase 150
CHAPTER 11 Exiting 159
11 .1 Exiting and Timing 159
11 .2 Exit Alternatives 161
11 .3 Quotation of Private Equity C...
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 ... THE PRIVATE EQUITY MARKET IN EUROPE
In the 2007 Annual Survey conducted by the European Private Equity and
Venture C...
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: ... mth
Sending of
legal
documents
T = +6 mth
Closing
FIGURE 8.2
The fundraising process for venture capital.
Private Equity and Venture Capital in Europe:...
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...
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 ... retail chain in its domestic market. In 2005, FC launched an expansion strat-
egy to increase the international arm of its business by opening shops in prominent European
cities su...
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...