Cover -- Contents -- List of case studies -- About the author -- Foreword by Sir Paul Judge -- Foreword by Patrick Sheehan -- Preface -- Acknowledgements -- Introduction -- 1 Introduction to private equity -- DEFINITIONS OF PRIVATE EQUITY AND VENTURE CAPITAL -- HISTORY OF PRIVATE EQUITY IN EUROPE -- DEVELOPMENT OF THE EUROPEAN PRIVATE EQUITY INDUSTRY -- THE FIREPOWER OF PRIVATE EQUITY -- THE CONTRIBUTION OF PRIVATE EQUITY -- EUROPEAN VENTURE CAPITAL AND TECHNOLOGY INVESTING -- THE ADVANTAGES OF PRIVATE EQUITY -- HOW THE PRIVATE EQUITY INDUSTRY IN EUROPE IS FUNDED -- LIMITED LIABILITY PARTNERSHIPS AND THE FUNDRAISING PROCESS -- OTHER TYPES OF FUND -- WHAT YOU NEED TO RAISE VENTURE CAPITAL -- SOME COMMON MISCONCEPTIONS OF ENTREPRENEURS IN RAISING VENTURE CAPITAL -- 2 Growth and trends in the European private equity marketplace -- EUROPEAN PRIVATE EQUITY ACTIVITY -- SOURCES OF EUROPEAN FUNDS RAISED -- ALLOCATION OF FUNDS RAISED -- EUROPEAN INVESTMENT ACTIVITY -- SIGNIFICANCE OF EUROPEAN PRIVATE EQUITY IN THE GLOBAL MARKETPLACE -- LEADING COUNTRIES FOR PRIVATE EQUITY GROWTH -- HIGH-TECHNOLOGY INVESTMENTS GLOBALLY -- HIGH-TECH INVESTMENTS IN EUROPE AND OUTLOOK FOR THE INDUSTRY -- EUROPE CLOSES THE GAP ON THE UNITED STATES IN TECHNOLOGY INVESTING -- LISBON AGENDA -- SUMMARY OF EC INITIATIVES ON ENTREPRENEURSHIP -- EUROPEAN VENTURE CAPITAL AND PRIVATE EQUITY ASSOCIATION -- BRITISH VENTURE CAPITAL ASSOCIATION -- 3 Issues facing the European private equity industry -- PREDOMINANCE OF MANAGEMENT BUYOUT FUNDRAISING VERSUS VENTURE FUNDRAISING -- DIVERSITY OF RETURNS MADE BY DIFFERENT SECTORS OF THE INDUSTRY -- MANAGEMENT FEES PAID TO PRIVATE EQUITY FIRMS -- TRANSPARENCY AND DISCLOSURE BY PRIVATE EQUITY FIRMS: RELATIONSHIPS WITH LIMITED PARTNERS AND THE PRESS -- LACK OF PRIVATE EQUITY LEAGUE TABLES -- GUIDELINES FOR VALUING UNQUOTED INVESTMENTS.

CREATION OF A SINGLE PRIVATE EQUITY MARKET FOR EUROPE -- LACK OF PAN-EUROPEAN STOCK EXCHANGE -- DEBT LEVELS -- ENCROACHMENT OF HEDGE FUNDS -- INDUSTRY CRITICS -- 4 European early-stage and technology venture capital investing -- FIRMS SPECIALIZING IN EARLY-STAGE AND TECHNOLOGY INVESTING -- DIFFERENCES IN APPROACH BETWEEN EUROPEAN AND US VENTURE CAPITAL FIRMS -- EUROPEAN EMERGING TECHNOLOGY CENTRES -- UNIVERSITY SPINOUTS -- 'HOT' TECHNOLOGY SECTORS FOR VC INVESTMENT -- 5 What venture capitalists look for from a potential investee company -- SOURCES OF INVESTMENT PROPOSITIONS -- WHAT THE VCS ARE LOOKING FOR -- TEN CRITICAL FACTORS FOR A START-UP COMPANY -- PEOPLE (AND MANAGEMENT TEAM) -- MARKET -- TECHNOLOGY -- THE 'BACK TO BASICS' INVESTMENT APPROACH -- QUESTIONS INVESTORS ASK TO DETERMINE COMPANY VALUE -- 6 Sources of finance -- THE STAGES OF GROWTH OF A COMPANY -- SOURCES OF FINANCE -- MAXIMIZING INTERNAL FINANCIAL RESOURCES -- FRIENDS AND FAMILY -- BUSINESS ANGELS -- INVESTMENT FORUMS AND NETWORKING ORGANIZATIONS -- GOVERNMENT GRANTS AND ASSISTANCE - UK AND EUROPE -- EUROPEAN GRANTS -- LACK OF GOVERNMENT SPENDING WITH GROWTH BUSINESSES -- PRIVATE EQUITY NOT NECESSARILY A 'LAST RESORT' -- 7 Sources of private equity and selecting a private equity firm -- DIFFERENT TYPES OF PRIVATE EQUITY FIRMS -- STAGE/TYPE OF INVESTMENT -- INDUSTRY SECTOR -- AMOUNT OF INVESTMENT -- GEOGRAPHICAL LOCATION -- CORPORATE VENTURE CAPITAL COMPANIES -- HOW TO SELECT AND TARGET PRIVATE EQUITY FIRMS -- APPROACHING VCS WITH YOUR PROPOSITION -- 'ELEVATOR' PITCHES -- 8 The keys to a successful business plan -- PURPOSE OF THE BUSINESS PLAN -- VALID BUSINESS PROPOSITION -- ESSENTIAL AREAS TO COVER IN THE BUSINESS PLAN -- EXECUTIVE SUMMARY -- THE MARKET -- THE TECHNOLOGY AND PRODUCT OR SERVICE -- THE MANAGEMENT TEAM -- BUSINESS OPERATIONS -- FINANCIAL PROJECTIONS.

AMOUNT AND USE OF FINANCE REQUIRED AND EXIT OPPORTUNITIES -- TIPS ON THE PRESENTATION OF THE BUSINESS PLAN -- LEGAL AND REGULATORY ISSUES -- 9 The investment process -- REACHING THE VC AUDIENCE -- CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENTS -- HOW VCS EVALUATE THE PROPOSITION -- PRESENTING YOUR BUSINESS PLAN TO THE VC FIRM -- VALUING THE BUSINESS -- TYPES OF FINANCING STRUCTURE -- STRUCTURING A VC DEAL -- TWEAKING THE DEAL -- THE OFFER LETTER OR TERM SHEET -- SYNDICATION -- THE DUE DILIGENCE PROCESS -- 10 Tax and legal issues and the role of professional advisers -- DIFFERENT TAX AND LEGAL REGIMES AROUND EUROPE -- THE FINANCIAL ADVISER'S ROLE -- THE ACCOUNTANT'S ROLE -- THE TAX ADVISER'S ROLE -- THE LAWYER'S ROLE -- 11 The ongoing relationship with the investor -- HOW THE VC FIRM CAN HELP THE GROWTH AND SUCCESS OF AN INVESTEE COMPANY -- HANDS-ON APPROACH -- HANDS-OFF APPROACH -- HELP TO AVOID PITFALLS -- DIRECTORS' RESPONSIBILITIES -- GUIDELINES FOR SUCCESS -- 12 Exit routes -- EXIT OPTIONS -- TRADE SALE -- GOING PUBLIC -- ALTERNATIVE INVESTMENT MARKET -- OTHER EUROPEAN ALTERNATIVE MARKETS -- Concluding comments (and the 15 VC tips) -- THE 15 VC TIPS -- References -- Index.