Venture capital versus private equity
Venture capital as an investment opportunity
VC and the financing life cycle - different types of VC investment – risks, rewards and challenges
The VC market place
- locations and characteristics
- participants
- angel investors and early stage
  - venture capital funds
  - corporate venture capitalists
  - Development Finance Institutions (DFIs), Sovereign Wealth Funds (SWFs) and development banks
Venture capital as a joint venture investment decision
Value creation from a venture capital investment
Common and preferred equity - terminology
- pre and post money
- options and option pool
- up round
- flat round
- down round
- cram down round
- capitalisation table
- liquidity preference
- pro rata rights
- anti-dilution
- pay to play
- vesting
The changing face of venture capital
- venture debt
- convertible notes
- warrants
- SAFE (Simple Agreement for Future Equity)
- KISS (Keep It Simple Securities)
- alternative developments
Evaluating seed, start-up and very early stage businesses
- understanding and managing the key challenges
- due diligence - importance of commercial due diligence of the business plan and tools for challenging commercial viability
- valuation
  - venture capital method - principles and illustration of application
  - deferred valuation, venture debt and its structuring
  - issues in valuing a start-up or early stage business in practice
  - relevance and application of DCF valuation method
Evaluating later stage VC businesses
Companies and the corporate life cycle – relevance to late stage VC businesses
Importance of valuation to later stage VC businesses, issue include:
- equity positions
- fund growth from external parties
- exit
How a later stage VC valuation differs from a start-up?

Agenda - Day 2

Agenda - Day 2