The Venture Capital Cycle by Paul Gompers and Josh Lerner examines the venture capital industry in the United States, providing a systematic overview of its operations and impact. The book covers venture capital fundraising, explaining how capital is raised and structured, and analyzes how venture capitalists are compensated. It also explores the structural aspects of venture capital firms, including their relationships and covenants within partnerships, and the role of corporate venture capital. The authors employ empirical analysis to explain the complexities of investing in entrepreneurial start-ups and the market dynamics influencing this sector.