Venture Capital Valuation, Term Sheets & Cap Tables - Wall Street Prep 2021 | CFA Institute | 27 March 2021 | Virtual

This boot camp is a 4-hour instructor-led virtual “Power Session” where trainees learn advanced Excel functionality using an intuitive, step-by-step approach. This seminar is designed for Excel users who would like to power-charge their productivity in Excel by learning lesser-known but highly-effective functionality.

Topics Covered:

The VC Process and Term Sheet
• The early stage investing landscape
• A typical VC deal process and timeline
• VC return economics – why they need to hit home runs
• VC Valuation – back-solving into a pre-money / post-money valuation
• Understanding VC term sheets

VC Math and Cap Tables
• Cap Table Math: Dilution and price per share after new round
• Calculating Impact of Option Pool
• Calculating Impact of Multiple Investors
• Calculating impact of Convertible Debt
• Constructing a Cap Table
• Flow of Funds and Distribution Waterfall

What You’ll Learn
Demystifying the VC Valuation & Term Sheet

How do venture capital (VC) professionals determine the size and ownership stake of their investments? How do they construct term sheets to optimize their chances of generating high investment returns? Using simple examples that slowly grow more complex, we’ll demystify the math and jargon that’s used in early stage investing

Cap Table & Waterfall Modeling

Multiple investment rounds, coupled with even the most common VC deal provisions such as option pools, convertible debt and liquidation preferences conspire to create significant model complexity when structuring cap tables and waterfalls. Learn how to structure cap tables to address these challenges