Foreword ixAcknowledgments xiIntroduction xiiiPart One: Setting the Stage 1Chapter 1: A Tale of Two Companies 3Chapter 2: All About Growth: My Journey from Venture Capital to Venture Debt 17Part Two: Startups: Understanding the Arena 29Chapter 3: The Stages of a Startup 31Chapter 4: Geography Matters - to a Point 45Chapter 5: The Startup Ecosystem 53Part Three: Getting the Money 65Chapter 6: Your First Outside Investors 67Chapter 7: What Kind of Money Is Right for Your Business? 75Chapter 8: The Ins and Outs of Venture Capital 85Chapter 9: Debt Is Not a Four-Letter Word 91Chapter 10: What a Deal with Debt Looks Like 97Chapter 11: Making the Most of Debt 109Chapter 12: Options for Exits 119Part Four: Making the Best Use of Your Money 129Chapter 13: Bullshitters, Liars, and Jerks 131Chapter 14: Bullshitters, Liars, and Jerks, Part 2: What You Need to Be on Guard For 137Chapter 15: Your Team: Getting the Right People in the Right Jobs 143Chapter 16: Founder versus CEO 151Chapter 17: Getting the Most from Your Board 157Chapter 18: The Moral Contract 165Part Five: Going Forward 171Chapter 19: Runway's Story of Going Public 173Chapter 20: Conclusion 183Appendix 189Index 211
DAVID SPRENG is a veteran investor based in Silicon Valley with 30 years' experience as a venture capitalist and growth debt lender. As a VC, he was involved in the formation and development of approximately 50 tech companies resulting in 18 initial public offerings and 14 trade-sales. He is the founder and CEO of Runway Growth Capital.