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Venture Capital and Private Equity Contracting, 2nd Edition by Sofia A. Johan, Douglas J. Cumming

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23

Summary and Concluding Remarks

This chapter summarizes and concludes the main issues covered in this book. This book is the first of its kind in the literature on venture capital and private equity to focus its theme specifically on the financial contracting between parties in venture capital and private equity. One of the primary reasons for the existence of specialized venture capital and private equity funds is the occurrence of information asymmetries and agency costs. If idiosyncratic risks could be diversified away and/or information asymmetries and agency costs were not present, there would be little scope for venture capital and private equity fund managers to provide value in ways that extend beyond that which banks or other sources ...

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