風(fēng)險(xiǎn)投資創(chuàng)新與金融的結(jié)合(1)(完整版)
【正文】 capitalists once had to wait years to make general partner. No more. ? That 20% is diwied up at the discretion of the top partners, based on seniority and performance. Today a junior partner may get as much as %, an associate lostill less than senior partners, who make 4% to 7%, but more than they got three years ago ? Carried interest is even being used as a recruiting lure to find the best and the brightest at the associate level, an incentive almost unheardof five years ago Young Venture Capitalists 2 ? venture capitalists are desperate for new blood. A record of $16 bil. in 1998more hands are needed ? Senior partners are doing less work and the younger guys are picking up the slack, ? William M. Mercer39。s venture fund consist solely of his own money. In the past 27 years he has founded more than 2 dozen public panies. ? to be there first or very early, says Pappajohn. Wall Street will pay more for a successful new idea. A venture capitalist pappajohn2 ? Pappajohn was born in Greece and grew up in Mason City, Iowa, his father ran a corner grocery store, no telephone and shared a car. His father died when he was 16, leaving him to support his mother, who spoke no English, and his younger brothers. ? He doesn39。lets build an entrepreneurial technological centre39。s a connection between venture capital and musicthat creativity and empathy are skills that transfer to both worlds. Norman Brodsky: invest for fun ? Brodsky, a venture capitalist, no longer invests just for the money but for fun, being part of a new business and the satisfaction he gets from helping entrepreneurs succeed. ? 4 rules of angel investing: 1. Invest in people who want your help, not your money. 2. When possible, go it alone. 3. Take a majority stake until your investment has been repaid. 4. Retain the right to force a payout. ? it39。 pricing his concept at another $3 MM, with a multiple of three times, value the startup at $18 MM. ? Mayfield not respond, and NEA only offer a multiple of two. But Doerr in Jan. 1994,was intrigued by Andreessen, invested $5mm, later became $600mm Louis John Doerr, III6 ? Tom Perkins wanted a nobullshit atmosphere, where people rolled up their sleeves amp。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。s largest supplier of sulfuric acid pumps. ? Doerr was studying EE at Rice U. in Houston, Tx. With 2 friends started their own pany, wrote graphics software for Burroughs puters. graduated from Rice in 1973 BS, MS in EE ? MBA at HBS, which has probably produced more venture capitalists than any other institution Louis John Doerr, III3 ? 5 years at Intel. made the unusual request to be transferred from the Santa Clara headquarters to the Chicago sales office. He needed to be a field salesman, to live that experience? ? In 1980 he contacted Byers, who offered a job as a Kleiner Perkins associate, he accepted, but with the stipulation that Kleiner Perkins would back him if he decided to pursue his own startup. ? 198082 he spent half time for Silicon Compilers, in which he had a small equity stake, in 1982,KP raised venture capital39。t manage, inspire or lead. We39。 he says he has helped launch 15 new software panies. Overall, he says, he39。s major names. ? He was the first on his block to try digital thermostats, a home theater with a digital projector he uses to view the Inter ? the
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