Venture capitalists are the handmaidens of innovation. Operating in the background, they provide the fuel needed to get fledgling companies off the ground--and the advice and guidance that helps growing companies survive their adolescence.


In Creative Capital, Spencer Ante tells the compelling story of the enigmatic and quirky man--Georges Doriot--who created the venture capital industry. The author traces the pivotal events in Doriot's life, including his experience as a decorated brigadier general during World War II; as a maverick professor at Harvard Business School; and as the architect and founder of the first venture capital firm, American Research and Development. It artfully chronicles Doriot's business philosophy and his stewardship in startups, such as the important role he played in the formation of Digital Equipment Corporation and many other new companies that later grew to be influential and successful.


An award-winning Business Week journalist, Ante gives us a rare look at a man who overturned conventional wisdom by proving that there is big money to be made by investing in small and risky businesses. This vivid portrait of Georges Doriot reveals the rewards that come from relentlessly pursuing what-if possibilities--and offers valuable lessons for business managers and investors alike.


"Georges Doriot carved the modern venture capital industry out of nothing through sheer force of will. Spencer Ante's fascinating book puts you in the time and place where America's twentieth-century high-tech innovation explosion was created"


-Marc Andreessen, cofounder, Netscape Communications, Opsware, and Ning


"One of the premier technology and financial journalists working today, Ante has written the definitive history of the birth of venture capital through the extraordinary figure of Georges Doriot. Anyone who is interested in innovation, entrepreneurship, or the roots of America's start-up economy must read this book."


-James W. Breyer, Managing Partner, Accel Partners, and director of Facebook, Wal-Mart Stores, and Marvel Entertainment


"Georges Doriot's remarkable ability to inspire entrepreneurs and his keen understanding of the business development process allowed him to create and shape the venture capital industry. Spencer Ante's brilliantly written book is a must-read for anyone wanting to understand this unique individual and his key contributions to the development of our modern economy."


-Patrick J. McGovern, Founder and Chairman, International Data Group, and Life Member of the MIT Corporation


"This well-crafted book deserves to be on the to-read list of anyone in finance or technology--Ante has done well to re-create Doriot's life and give him his place in history."


-Po Bronson, bestselling social commentator and novelist, author of What Should I Do with My Life? The True Story of People Who Answered the Ultimate Question.


"Where would we be without companies like Federal Express, Apple, Intel, Staples, and Google, all of which benefited from venture capital? This book provides insights into Georges Doriot's profound impact on the lives and careers of everyone he interacted with, from his fiercely devoted students at Harvard Business School to the entrepreneurs he financed at the birth of a vital industry."


-William A. Sahlman, Dimitri V. D'Arbeloff-MBA Class of 1955 Professor of Business Administration and Senior Associate Dean for External Relations, Harvard Business School