Abstract
The inventive process by which innovative ideas in technology are turned into economic growth is the most important economic process of the last 200 years. The venture capital industry and the venture capital (VC) funds at its core are a small but important part of the inventive process that leads from an innovative idea to both increased consumption and an extension in consumption possibilities. The main proposition of this book is that by discussing VC funds in the context of the inventive process, we can better understand the venture capital industry and the way that VC funds operate. Discussing VC funds in the context of the inventive process requires bringing together different aspects of economics and finance and weaving them into a complete picture.
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