Venture Capital Through The Ages
The Medieval Pre: a/k/a the Lord's Demesne, the right in the manorial system,of each lord to retain 25% - 1/3 of all land and crops.
The Medieval Liquidation Preference: He got to keep the barns, vineyards, orchards and workshops, too.
Angels of the Middle Ages: The Commenda, or a group of older merchants who provided capital for active partners, then split the proceeds 3:1.
Decline in Seed Investment: Known as "the treason of the Bourgeosie" in 17th century France.
The Portfolio Approach: originated in Europe in the Middle Ages, when the 3-crop rotation system became a key driver of innovation.
Other key driver of technology innovation in the Middle Ages: "Manure was used more intelligently."