The Secret History of Silicon Valley 11: The Rise of “Risk Capital.
Steve Blank
OCTOBER 26, 2009
Whitney Company by writing a personal check for $5M and hiring Benno Schmidt as the first partner (Schmidt turned Whitney’s description of “private adventure capital&# into the term “venture capital”). Million in 1946 as a closed-end mutual fund ) which meant ARD was regulated by the Securities and Exchange Commission (SEC.)
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