... THE PRIVATE EQUITY MARKET IN EUROPE
In the 20 07 Annual Survey conducted by the European Private Equity and
Venture Capital Association (EVCA) based on activity realized in Europe, private
equity ... factors
Strongly
negative
Strongly
negative
Starting
Early
growth
Limited to the
inventory financing
Negative but
reducing
Negative but
reducing
Positive and
incre...
... of private equity and venture capital
Gompers and Lerner wrote about the “ venture capital cycle ” and further
expanded the idea: from a fi nancial standpoint, private equity fi nancing or venture ... subdivide the venture capital (and private equity) cycle into
standard phases: fundraising, investing, and exit.
This is the right way to analyze private...
... implement private equity and venture capital deals and the
interrelation of taxation on vehicles, investors, and companies in the EU.
6.1 FUNDAMENTAL ROLE OF TAXATION IN PRIVATE EQUITY
AND VENTURE ... the private equity and venture capital industry
■ Necessity of permanent establishment
■ Presence of any fi scal incentive meant to encourage investme...
... complicated. In the UK, private
equity and venture capital deals are run by
■ Venture capital funds
■ Venture capital trusts
■ Business Angels
Venture capital funds are pooled investments in ... of 20 % and capital gains
are de-taxed if money is invested in the same investments within 3 years.
For private individuals the system is less intricat...
... All rights reserved .20 10
Company evaluation in
private and venture capital
12
12. 1 COMPANY VALUATION
As explained in Part Two, the private equity process can be divided into differ-
ent ... nancing — The main point is the price setting.
Vulture fi nancing — Price setting is insignifi cant.
12. 2.5 Exiting
During this phase enterprise value and price are calcul...
... agents in the domestic market. In the European mar-
ket it operates with two owned companies, a joint venture and an agent network.
A17.3 .2 Investment structure
In 20 02 a private equity investor ... executives stays in the company
from 6 to 12 months, whereas the second group is likely to stay in a leadership
role from 12 to 24 months.
25 3
Private Equity...