風(fēng)險(xiǎn)投資創(chuàng)新與金融的結(jié)合(1)(已修改)
2024-10-28 06:04 本頁面
【正文】 An old survey: 1984 ? Avg partners per firm: ? avg panies managed per partner: ? avg seat on board per partner: ? most vclists spent more than half of their times with their portfolio panies, median number is 60% ? if they are the lead investor, they devote much more time on PCs than otherwise Venture capitalists pay ? the 39。80s, venture capitalists? base salary” $150,000 to $200,000, calculated on a 2 to percent management fee, less expenses. ? As the size of the funds have mushroomed while most expenses have remained generally flat, many venture capitalists now pull in two to three times that. Base salaries of $1 million are no longer unusual ? of course, that doesn39。t account for winning investments39。 really big payoffs performancebased fees and personal equity stakes. Louis John Doerr, III ? Doerr is to his business what Gates is to software.” ? Doerr can boast of helping to midwife such enterprises as Netscape Communications Corp., Compaq Computer Corp., Intuit, Lotus Development Corp. and Sun Microsystems. ? Since joining Kleiner Perkins in 1980, Doerr has ridden three tsunamilike waves of technology: personal puting, PC software and, now, the Inter Doerr?s firm ? VCbacked panies grew jobs 20% on average from 1990 to 1994. KPCB calculates that the panies it has backed have generated 131,000 new jobs, along with bined annual revenues of $44 billion. Their total market capitalization: $84 billion. ? The firm has reportedly racked up average annualized returns of more than 30 percent since its founding in 1972, putting it in the top 1 percent of all venture firms. The industry as a whole has averaged percent annual returns over the past two decades A new concept: Keiretsu ? valueadded investing is access to a work of shared information and knowledge referred to as the Keiretsu. ? Companies that bee part of this interlocking KPCB work share experiences, insights, knowledge, and information. ? the flip side of Keiretsu is that Doerr also sits on the boards of directors of panies that hold peting, not cooperative, interests. One secret for Vclist to success: Recruiting ? The famous VC firm: Kleiner, Perkins Caufield amp。 Byers. ? John Doerr?s power and influence on the VBC: recruiting efforts. ? He is a great recruiter. Why so critical? ? CEOinresidence program, william Campbell, the former Go chief, later in Intuit. ? Road shows and conferences Dare to pay high price ? John Doerr , paid a 5 million to Netscape in june. 1994, and in may, it worth about 600 million…the partners in KPCB took 30 minutes to vote investing in Netscape. ? Monday morning, all 10 partners gather at headquarter sitting around a table: the world largest surfboard... Formal presentation at 11 am and 2 pm ? hold board seats on 80% of the VBC. ? Doerr believes 1980s is for hardware and software, but 90s is for inter... KPCB why famous ? strategies are easy, it39。s execution is everything. The firm reviews some 2,000 business plans a year, of which 200 get serious consideration and 20 to 25 actually get money. ? 1994, Silicon Graphics founder Jim Clark called Doerr to tell him about a little piece of software called a browser, written by this 23yearold kid from the University of Illinois named Marc Andreessen. Four years later the call still ranks as the most significant thing to happen to KPCB in a decade. And perhaps the luckiest. Louis John Doerr, III2 ? Born in 1951 in a middleclass section of South St. Louis, the eldest of five. His role model was his father Lou, quit job to buy a small St. Louis specialty pump maker, Charles Lewis Pump Co., which he built into the world39。s larg
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