1. What is a professional venture capitalist? How does this occupation differ from that of an angel investor?

2. Briefly describe how professional venture capital got started after World War II.

3. What was the early role of the Small Business Administration (SBA) in fostering venture investing?

6. What are the components or stages in the professional venture investing cycle from inception to funding?

7. What are the components or stages in the professional venture investing cycle after funds have been raised until closure?

8. Who are the major suppliers of venture capital by type and size of commitment?

9. What is meant by the terms (a) capital call, (b) deal flow, and (c) due diligence?

10. What is meant by the terms (a) lead investors, (b) SLOR, and (c) term sheet?

11. Why should entrepreneurs care what pressures venture capitalists face in carrying out their professional money management (intermediation) function?

12. Why do venture capitalists make quick decisions on the infeasibility of some business plans? When a business plan is not quickly determined to be infeasible, what happens next and why?

16. What can be learned from the SBAs creation and the IRSs subsidy of venture investing through SBICs?