Bradley Distinguished Lecture Series
Private Equity and Venture Capital in the Age of Artificial Intelligence
Steven N. Kaplan, Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance, and Kessenich E.P. Faculty Director, Polsky Center for Innovation and Entrepreneurship, University of Chicago Booth School of Business
The large increase in private equity, venture capital and private debt has generated widespread interest and scrutiny, particularly in light of the AI-boom and its financing. What is the history of private equity and venture capital? What do private equity and venture capital actually do to the companies they invest in? How have they really performed for investors? With the investment boom, how are they likely to perform in the future in the age of AI? Do these investors and their investment structures make us vulnerable to another financial crisis?
Dr. Kaplan offers his analysis and perspectives on these issues and his views on potential implications for policymakers.
About the Speaker
Dr. Kaplan’s research focuses on private equity, venture capital, corporate governance and executive talent. He was elected a Fellow of the American Finance Association in recognition of distinguished contributions to the field of finance. He is the co-creator of the Kaplan-Schoar PME (Public Market Equivalent) private equity benchmarking approach. A Fortune Magazine article referred to him as “probably the foremost private equity scholar in the galaxy.” Professor Kaplan is a Research Associate at the National Bureau of Economic Research.
Professor Kaplan co-founded the entrepreneurship program at Booth. With his students, he helped start Booth’s business plan competition, the New Venture Challenge (NVC), which has spawned over two hundred companies. The companies have raised over $1.2 billion from investors and have created over $10 billion in market value. Companies include GrubHub, Simple Mills, Braintree/Venmo, Open Water and Tovala. Professor Kaplan serves on the board of Morningstar (MORN). He co-created the Lincoln Middle Market Index.
Professor Kaplan earned his PhD in Business Economics from Harvard University. He received his AB, summa cum laude, in Applied Mathematics and Economics from Harvard College.
Lunch will be provided.
Sponsored by UWM’s Lubar College of Business and The Lynde and Harry Bradley Foundation.