Your Guide To VC From Fundraising to Exit

About the program:

1. Foundational Knowledge
   Learn the basics of VC, including industry trends, key terms, and the VC lifecycle.
2. Fundraising
   Gain insights into fundraising strategies, due diligence, valuation, term sheets, and more.
3. Investing
   Learn how to source deals, understand key elements of term sheets and pricing the round.
4. Growing the portfolio
   Learn how to manage and create value in your portfolio companies.
5. Exit Strategies
   Understand the various exit strategies available to VCs, including IPOs, acquisitions, and mergers.
   

Introduction to Venture Capital (Prematerials)

1. A Very Brief History of Venture Capital
2. A Few Statistics
3. What Really is Venture Capital?
4. What does Venture Capital Cash Flow Look Like?
5. Why is it called ”Private” Equity?
6. Comparing Private Equity to Public Equity
7. What kind of Startups are we interested in?
8. First Look at VC Math
9. How to Calculate Ownership
10. Turning around the Ownership Algebra
11. Preparing for the VC Jobs
12. Preparing for Learning about the Jobs VCs Do

MODULE 1  - VC Job 1: Fundraising

1. Quick Recap of Intro to Venture Capital
2. Introduction to Fundraising
3. Introduction to Fund Investment Strategy
4. Determinants of Fund Size
5. Determinants of Fund Sector and Geography
6. Case Study: Foundry Group
7. A Guide to Fund Mechanics
8. Aside: Why would LPs do this risky Asset Class?
9. The Long Term Strategy of a VC
10. Venture Capital Fee Structure
11. Adjusting Fund Size based on actual Fees
12. The REAL Fee: Carried interest
13. Wrap-up of Fundraising

MODULE 2 -  VC Job 2: Investing

1. Introduction to VC Investing
2. What is "Fund - Startup Fit?"
3. How do VCs Syndication
4. How do you VCs Source Deals?
5. High Level look at Due Diligence
6. Key Elements of the Term Sheet
7. Determinants of Pre-money Valuation and Investment Size
8. How to "Price the Round"
9. Motivating the Team: Creating Option Pools
10. Quick look at Other Key Terms
11. Secret: Today’s Valuation is all about Perceived Exit
12. Wrap-up of Investing

MODULE 3 - VC Job 3: Growing the portfolio

1. Introdution to a Venture Portfolio
2. What does a "Fund Returner" look like?
3. How do you "Work the Porfolio" to produce a Fund Returner?
4. The Active Investor – Board Membership
5. Case Study: Facebook and Accel
6. The Active Investor – Advisor
7. The Active Investor – Bridge to Service Providers
8. Positioning for Follow-On Rounds
9. Milestones and Reserve Capital
10. Tranching and Dilution
11. Pro Rata Strategy: Dilution Scenario 1
12. Dilution Scenario 1
13. Dilution Scenario 3 and Dry Powder
14. Dilution and Syndication
15. Wrap-up of Growing Portfolio

MODULE 4 - VC Job 4: Exiting and Creating Returns

1. A Look back at the Job Cycle
2. A look at the Development of the company over time
3. VCs Guess (or form hypotheses ) about Exit
4. What if you Hack to a ”Next Level” Exit?
5. Back to the ”Exit Job to be Done
6. What are the Exit Options?
7. Crafting an Exit Strategy
8. In the end, what is a VC’s Job?
9. Summing up the whole program

Enrolment starts 1.11.2023

Program dates

• Wednesday 15.11.2023
• Friday 22.11.2023
  
• Wednesday 15.11.2023
• Friday 27.11.2023

All courses are held online at 17:00 - 18:30 (CET)

The course fee for the course is exceptionally only 99€ (normally 499€). The fee gives the right to participate in the four modules and access to the course materials.