The Money of Invention: How Venture Capital Creates New Wealth

Josh   Lerner; Paul  Gompers

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Book | 2001

The Money of Invention: How Venture Capital Creates New Wealth

by Josh Lerner and Paul Gompers

Keywords: Money; Innovation and Invention; Venture Capital; Wealth;

Format: Print

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Citation:

Lerner, Josh, and Paul Gompers. The Money of Invention: How Venture Capital Creates New Wealth. Boston: Harvard Business School Press, 2001.

About the Authors

Josh Lerner

Jacob H. Schiff Professor of Investment Banking

Entrepreneurial Management

Finance

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Paul A. Gompers

Eugene Holman Professor of Business Administration

Finance

Entrepreneurial Management

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Working Paper | HBS Working Paper Series | 2020

Two Case Studies on the Financing of Forest Conservation

Andrew Baxter, Connor Cash, Josh Lerner and Ratnika Prasad

A variety of factors is leading to fresh approaches to the ownership and management of forestland, with an emphasis on the combination of conservation goals and private investments. But the barriers to successfully achieving attractive financial returns and desirable social outcomes can be daunting. This working paper, which features two short case studies that examine the challenges and opportunities associated with forest conservation finance, explores these important issues.

Keywords: financing; forestry;

Citation:
Baxter, Andrew, Connor Cash, Josh Lerner, and Ratnika Prasad. "Two Case Studies on the Financing of Forest Conservation." Harvard Business School Working Paper, No. 20-137, June 2020. View Details

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Working Paper | HBS Working Paper Series | 2020

Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn

Josh Lerner and Ramana Nanda

Venture capital is associated with some of the most high-growth and influential firms in the world. Academics and practitioners have effectively articulated the strengths of the venture model. At the same time, venture capital financing also has real limitations in its ability to advance substantial technological change. Three issues are particularly concerning to us: 1) the very narrow band of technological innovations that fit the requirements of institutional venture capital investors; 2) the relatively small number of venture capital investors who hold, and shape the direction of, a substantial fraction of capital that is deployed into financing radical technological change; and 3) the relaxation in recent years of the intense emphasis on corporate governance by venture capital firms. While our ability to assess the social welfare impact of venture capital remains nascent, we hope that this article will stimulate discussion of and research into these questions.

Keywords: venture capital; financing; innovation;

Citation:
Lerner, Josh, and Ramana Nanda. "Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn." Harvard Business School Working Paper, No. 20-031, June 2020. View Details

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Case | HBS Case Collection | April 2020 (Revised June 2020)

WeWork - November 2018

Paul A. Gompers, Patrick Sweeney and Alex Gachanja

Citation:
Gompers, Paul A., Patrick Sweeney, and Alex Gachanja. "WeWork - November 2018." Harvard Business School Case 220-075, April 2020. (Revised June 2020.) View Details

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The Money of Invention: How Venture Capital Creates New Wealth

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About the Authors

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