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| Tekijä: | Brophy, D. Haessler, M. |
| Otsikko: | Evaluating the venture capital fund agreement |
| Lehti: | Managerial Finance
1994 : VOL. 20:1, p. 53-64 |
| Asiasana: | VENTURE CAPITAL EVALUATION FUNDS |
| Kieli: | eng |
| Tiivistelmä: | The purpose of this paper is to demonstrate how probabilistic simulation can be used to assist prospective general partners (GP) and limited partners (LP) of a venture capital limited partnership fund to evaluate alternative investment strategies for the proposed fund. The model presented in the paper is based upon observed characteristics of the venture capital market reported in the finance, economics, and management science literature. The use of probabilistic simulation enables the analyst to go well beyond the one-variable-at-a-time "what if" point estimate analysis typically used in planning studies and to realize the benefits of having information on the distribution of expected values of the variables of interest. |
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