Creative capital: Georges Doriot and the birth of venture capital

Venture capitalists are the handmaidens of innovation. Operating in the background, they provide the fuel needed to get fledgling companies off the ground and the advice and guidance that helps growing companies survive their adolescence. In Creative Capital, Spencer Ante tells the compelling story of the enigmatic and quirky man Georges Doriot who created the venture capital industry. The author traces the pivotal events in Doriot's life, including his experience as a decorated brigadier general during World War II; as a maverick professor at Harvard Business School; and as the architect and founder of the first venture capital firm, American Research and Development. It artfully chronicles Doriot's business philosophy and his stewardship in startups, such as the important role he played in the formation of Digital Equipment Corporation and many other new companies that later grew to be influential and successful. An award-winning Business Week journalist, Ante gives us a rare look at a man who overturned conventional wisdom by proving that there is big money to be made by investing in small and risky businesses. This vivid portrait of Georges Doriot reveals the rewards that come from relentlessly pursuing what-if possibilities and offers valuable lessons for business managers and investors alike." Georges Doriot carved the modern venture capital industry out of nothing through sheer force of will. Spencer Ante's fascinating book puts you in the time and place where America's twentieth-century high-tech innovation explosion was created" Marc Andreessen, cofounder, Netscape Communications, Opsware, and Ning" One of the premier technology and financial journalists working today, Ante has written the definitive history of the birth of venture capital through the extraordinary figure of Georges Doriot.