Fundamentals of Entrepreneurial Finance provides a comprehensive introduction to entrepreneurial finance, showing how entrepreneurs and investors jointly turn ideas into valuable high-growth start-ups. Marco Da Rin and Thomas Hellmann examine the challenges entrepreneurs face in obtaining funding and the challenges investors face in attracting promising ventures. They follow the joint journey of entrepreneurs and investors from initial match to the eventual success or failure of the venture.

Written with the goal of making entrepreneurial finance accessible, this book starts with the basics, develops advanced topics, and derives practical insights. Da Rin and Hellmann build on academic foundations from several disciplines and enrich the text with data, mini-cases, examples, and exercises.

KEY FEATURES

• Develops a comprehensive framework for understanding entrepreneurial finance
• Provides many practical educational tools, including a case study that runs across the entire text, a set of novel spreadsheet tools, and a variety of applied examples and exercises
• Helps the reader move seamlessly from concept to application, and thus to get started as entrepreneur or investor
• Provides a contemporary, diverse, and global outlook on entrepreneurial finance for students from all over the world
• Written by renowned researchers and pioneers of the field, this text has strong academic foundations that allow students to understand financial structures, the behaviour of entrepreneurs, and a wide variety of investor types
• Custom-developed spreadsheets, review exercises, slides, tables, and numerous other tools and support materials available at www.entrepreneurialfinance.net

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Chapter 1 : Introduction to Entrepreneurial Finance

Chapter 2: Evaluating Venture Opportunities

Chapter 3: The Financial Plan

Chapter 4: Ownership and Returns

Chapter 5: Valuation Methods

Chapter 6: Term Sheets

Chapter 7: Structuring Deals

Chapter 8: Corporate Governance

Chapter 9: Staged Financing

Chapter 10: Debt Financing

Chapter 11: Exit

Chapter 12: Venture Capital

Chapter 13: Early-Stage Investors

Chapter 14: Ecosystems

Dr. Marco Da Rin - Associate Professor of Finance, Tilburg University.

Dr. Thomas Hellmann - DP World Professor of Entrepreneurship and Innovation, Saïd School of Business, University of Oxford.

Dr. Marco Da Rin is an Associate Professor of Finance at Tilburg University. He holds a PhD in Economics from Stanford University. He has designed and taught courses in entrepreneurship and entrepreneurial finance at the undergraduate, Master, doctoral, MBA, and executive level in several countries. His research and teaching focuses on entrepreneurial finance, entrepreneurship, venture capital and private equity, and public policy for entrepreneurship. He has also been a consultant to several international organizations, including the European Commission, the OECD, and the United Nations, as well as regional governments and private companies. He has advised and contributed to several start-ups.

Dr. Thomas Hellmann is the DP World Professor of Entrepreneurship and Innovation at the Saïd School of Business, University of Oxford. He holds a PhD in Economics from Stanford University. His research and teaching interests cover entrepreneurial finance, entrepreneurship, innovation, strategic management, and public policy. He was previously on the faculty of the Stanford GSB and also taught at the Harvard Business School and Wharton. He is the founder of the NBER Entrepreneurship Research Boot Camp, the Academic Advisor of the Oxford Foundry, the Academic Director of SBS Entrepreneurship Centre, and Academic Lead of the Creative Destruction Lab - Oxford.

"Da Rin and Hellmann masterfully combine academic and case studies to analyze how entrepreneurs with ideas and financiers with capital can strike mutually advantageous deals that power society's future innovations. The result is a lucid and comprehensive book that will be an invaluable resource for anyone with an interest in this topic."- Oliver Hart, Department of Economics, Harvard University, 2016 Nobel laureate in economics

"While getting to scale fastest in a global economy can take significant capital, money has always been just one part of venture financing. Using clear frameworks that show how venture financing really works, Da Rin and Hellmann point out how the networks of talent and expertise that investors can help entrepreneurs access are critical to a start-up's success. This is especially true for big, ambitious, and even contrarian ventures. So if you're an entrepreneur ready to pursue a truly bold idea, be sure to read this book." - Reid Hoffman, Co-founder of LinkedIn and co-author of Blitzscaling

"This textbook achieves a wonderful balance in providing students with a broad and insightful introduction to entrepreneurial finance; but at the same time opens up many avenues for interested students to pursue the material more deeply. The authors draw from a wealth of intriguing examples to make the material come to life and their in-depth knowledge of the subject matter shines through at every turn. A great resource for any student of entrepreneurial finance as well as a lay audience that wants to understand this fast growing part of finance better."- Antoinette Schoar, Michael M. Koerner (1949) Professor of Finance and Entrepreneurship at the MIT Sloan School of Management

"This book provides the foundational knowledge MBAs need to master entrepreneurial finance. The authors are leading academics, trained at Stanford, who taught and researched in many countries. They understand not only how Silicon Valley works, but also how venture financing is a global phenomenon."- Ilya A. Strebulaev, Professor of Finance, Stanford Graduate School of Business

"The financing of start-ups is crucial for their very survival and development, yet it is often thought of as a narrow technical issue. It is not! Da Rin and Hellmann build a comprehensive framework that helps the reader understand the entire entrepreneurial financing process, and how entrepreneurs and investors navigate through it. I highly recommend this book to anyone who wants to understand the fuel that fires the modern innovation economy, and especially to those venturing into it." -- Eugene Kandel, CEO of Start-Up Nation Central, and Professor of Economics and Finance at the Hebrew University of Jerusalem

"This book will help students from different backgrounds understand how venture financing works. The authors masterfully combine insights from finance, economics, strategic management, organizational behavior, legal studies and other academic fields. They introduce many new practical tools and present materials in a direct and engaging style." -- David Hsu, Professor of Management, Wharton Business School

"Da Rin and Hellmann have crafted a seminal contribution to the teaching of Entrepreneurial Finance. The issues addressed in their book are critical for any entrepreneur who is considering starting a company and raising capital. The material is applicable to any industry or country context making the book a 'must read.' Furthermore, the lessons are rigorous yet practical and allow an entrepreneur to put the recommendations into action. The book will become a staple not only in the classroom, but on the shelf of every aspiring entrepreneur." -- Paul Gompers, Eugene Holman Professor of Business Administration, Harvard Business School

"The financing of start-ups has become a global phenomenon with ambitious start-ups being funded by venture investors across many countries, including China. This is the first book to provide a truly global perspective on entrepreneurial finance. Da Rin and Hellmann build their framework step-by-step from core academic concepts, making the material accessible and engaging to the students at all levels around the world." -- Yingyi Qian, Distinguished Professor and former Dean, School of Economics and Management, Tsinghua University

"Having taught entrepreneurial finance for many years, one of the problems has been to find an appropriate textbook, which both provides practical skills and at the same time is grounded in modern research. I am happy to see that this problem has now been solved. Da Rin and Hellmann are two of the most well-known and accomplished researchers in this area. They have managed to write a comprehensible, accessible, and up-to-date textbook, which I predict will become the standard reference for courses in entrepreneurial finance and venture capital for years to come." -- Per Strömberg, SSE Centennial Professor of Finance and Private Equity, Swedish House of Finance, and Member of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel