PRINT THIS PAGE The Venture Capital Cycle07/01/2005. Source: The MIT Press. Paul Gompers and Josh Lerner 
 In the second edition of The Venture Capital Cycle, Paul Gompers and Josh Lerner correct widespread misperceptions about the nature and role of the venture capitalist and provide an accessible and comprehensive overview of the venture capital industry.
Over the past two decades the venture capital industry in the United States has experienced dramatic growth. Annual inflows into venture funds have expanded from virtually zero in the mid-1970s to a high of $105 billion in 2000. Disbursements by these funds into portfolio companies have displayed almost as great a growth. Many of the most visible new frms over the past decades - including Apple Computer, Genentech, Intel, Lotus, and Microsoft - have been backed by venture capital funds. This growth has led to increasing attention to the venture capital industry from the popular press, executives of major corporations, and policy-makers worldwide.
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