How Venture Capital Works

Before you can understand the industry, you must first separate myth from reality.

Harvard Business Review Logo Before you can understand the industry, you must first separate myth from reality. by Bob Zider aluxum/Getty Images The popular mythology surrounding the U.S. venture-capital industry derives from a previous era. Venture capitalists who nurtured the computer industry in its infancy were legendary both for their Invention and innovation drive the U.S. economy. What’s more, they have a powerful grip on the nation’s collective imagination. The popular press is filled with against-all-odds success stories of Silicon Valley entrepreneurs. In these sagas, the…

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