Nothing Ventured, Nothing Gained: Thrills and Spills in Venture Capital

Venture capitalism is a risky business at the best of times. But it's also exhilarating. Bill Ferris, one of Australia's first and most successful venture capitalists, has seen his share of successful floats, fly-by-night wonders and companies gone wrong. Now he takes you behind closed doors to show you how venture capitalists actually work and conduct their business, and the twenty major lessons he's learned along the way. Whether you're working in venture capital, an entrepreneur wondering about finding a financial backer, or just interested in making serious money, Nothing Ventured, Nothing Gained will give you an insight into the way venture capitalists really work and think. 'Venture capital is at the truly entrepreneurial edge of business. In Australia there has been more preaching about it than practice. Bill Ferris has done both, the latter with considerable success. In this lively account of his experience over nearly thirty years he draws attention to the pitfalls, the lessons and the rewards of a business life at the cutting edge.' John N. Button, Minister for Industry, 1983-93 'A timely contribution by an experienced practitioner and pioneer of venture capital activities in Australia that provides some valuable insights into what is needed for success.' John Ralph, Chairman, Business Review of Taxation 'Witty and informative-recommended to any student of venture capital or anyone contemplating a career in this exciting arena.' Professor Jeremy Davis, Australian Graduate School of Management

Table of Contents:
Acknowledgements Introduction PART ONE Some deals that went badly wrong Associated Bitumen Sprayers Pty Ltd Rumentek Industries Pty Ltd Specialty Jewellery Australia Pty Ltd Some deals that went wonderfully right Austal Ships Limited Education and Training Australia Pty Ltd Cuppa Cup Vineyards Pty Ltd Datacraft Limited LookSmart Inc The twenty most important lessons - so far Reflections PART TWO Development of venture capital activity in Australia 1945 to 1970 1970 to 1984 1984 to 1990 1990 to 1999 The venture capital sector today and beyond Future directions A profile of the Australian Mezzanine Investments Group Appendix: Australia's Co-operative Research Centres
About the Author :
Bill Ferris is regarded as one of the fathers of the venture capital industry in Australia. He formed the country's first venture capital company in 1970, having studied the emerging sector in the United States while completing his MBA at the Harvard Business School. Bill Ferris has been Chairman of both the Australian Trade Commission and the Australian Venture Capital Association and in 1990 was made an officer in the Order of Australia in recognition of his services to the export industry. Bill is now Chairman of the Asia Pacific Council of Macquarie University and a Director of the Australian Institute of Management. He is actively involved in the venture capital industry as executive chairman of Australian Mezzanine Investments Pty Ltd (AMIL). AMIL investments in companies such as Looksmart, Datacraft, Austal Ships, Cuppa Cup Vineyards and many others have yielded high returns and have created more than 50 millionaire entrepreneurs and executives as well as many thousan