HOW TO RAISE VENTURE CAPITAL

Two dozen, mostly useful articles from Venture Capital Journal--in which editor/ publisher Pratt, and his guest experts, survey funding sources from professional investment concerns through government agencies and local development commissions. Another possibility: established companies seeking exposure to new markets or technologies. There are, of course, no free lunches. Beneficiaries of community support are apt to wind up in remote locales where ""Big Eight accounting firms and symphonies can be 100 miles away""; result-oriented corporations may prove impatient early on, when the going is toughest, and abruptly dissolve partnerships. As for venture capitalists, they should be approached with a sound business plan--and the patience to walt while it's checked out. Also covered in detail are a host of ways that grubstakes can be arranged using common or preferred stock and various forms of debt. There's material, too, on the daunting legal documents involved: key-man employment contracts, registration rights, performance clauses, and related covenants. And, looking ahead, Pratt includes a section on the mechanics of going public--everybody's goal. A valuable introduction for novices and a worthwhile reference for older hands.