Udemy
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
Development
Web Development Data Science Mobile Development Programming Languages Game Development Database Design & Development Software Testing Software Engineering Development Tools No-Code Development
Business
Entrepreneurship Communications Management Sales Business Strategy Operations Project Management Business Law Business Analytics & Intelligence Human Resources Industry E-Commerce Media Real Estate Other Business
Finance & Accounting
Accounting & Bookkeeping Compliance Cryptocurrency & Blockchain Economics Finance Finance Cert & Exam Prep Financial Modeling & Analysis Investing & Trading Money Management Tools Taxes Other Finance & Accounting
IT & Software
IT Certification Network & Security Hardware Operating Systems Other IT & Software
Office Productivity
Microsoft Apple Google SAP Oracle Other Office Productivity
Personal Development
Personal Transformation Personal Productivity Leadership Career Development Parenting & Relationships Happiness Esoteric Practices Religion & Spirituality Personal Brand Building Creativity Influence Self Esteem & Confidence Stress Management Memory & Study Skills Motivation Other Personal Development
Design
Web Design Graphic Design & Illustration Design Tools User Experience Design Game Design Design Thinking 3D & Animation Fashion Design Architectural Design Interior Design Other Design
Marketing
Digital Marketing Search Engine Optimization Social Media Marketing Branding Marketing Fundamentals Marketing Analytics & Automation Public Relations Advertising Video & Mobile Marketing Content Marketing Growth Hacking Affiliate Marketing Product Marketing Other Marketing
Lifestyle
Arts & Crafts Beauty & Makeup Esoteric Practices Food & Beverage Gaming Home Improvement Pet Care & Training Travel Other Lifestyle
Photography & Video
Digital Photography Photography Portrait Photography Photography Tools Commercial Photography Video Design Other Photography & Video
Health & Fitness
Fitness General Health Sports Nutrition Yoga Mental Health Dieting Self Defense Safety & First Aid Dance Meditation Other Health & Fitness
Music
Instruments Music Production Music Fundamentals Vocal Music Techniques Music Software Other Music
Teaching & Academics
Engineering Humanities Math Science Online Education Social Science Language Teacher Training Test Prep Other Teaching & Academics
AWS Certification Microsoft Certification AWS Certified Solutions Architect - Associate AWS Certified Cloud Practitioner CompTIA A+ Cisco CCNA Amazon AWS CompTIA Security+ Microsoft AZ-900
Graphic Design Photoshop Adobe Illustrator Drawing Digital Painting InDesign Character Design Canva Figure Drawing
Life Coach Training Neuro-Linguistic Programming Personal Development Mindfulness Personal Transformation Life Purpose Meditation CBT Emotional Intelligence
Web Development JavaScript React CSS Angular PHP Node.Js WordPress Vue JS
Google Flutter Android Development iOS Development React Native Swift Dart Programming Language Mobile Development Kotlin SwiftUI
Digital Marketing Google Ads (Adwords) Social Media Marketing Google Ads (AdWords) Certification Marketing Strategy Internet Marketing YouTube Marketing Email Marketing Retargeting
Microsoft Power BI SQL Tableau Business Analysis Data Modeling Business Intelligence MySQL Data Analysis Blockchain
Business Fundamentals Entrepreneurship Fundamentals Business Strategy Business Plan Startup Online Business Freelancing Blogging Home Business
Unity Game Development Fundamentals Unreal Engine C# 3D Game Development C++ 2D Game Development Unreal Engine Blueprints Blender
30-Day Money-Back Guarantee
Finance & Accounting Finance Venture Capital

Ultimate Venture Capital: How to model investment rounds

The #1 course that will help you land a job in VC, be a better startup founder, angel investor and financial analyst.
Rating: 4.0 out of 54.0 (334 ratings)
1,949 students
Created by Kiley Grant
Last updated 11/2019
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Build a Cap Table and Waterfall Analysis from scratch
  • Learn the actual numbers behind investment terms
  • Know the direct impact on ownership percentages of every major term sheet provision
  • Build Private Equity and Venture Capital Investment Models From Scratch
  • Have solid PE/VC acumen
  • Pass private equity Interviews
  • Pass venture capital interviews
  • Understand how valuation impacts ownership
  • Calculate potential payout after multiple investment rounds
  • Learn about different types of investment structures
Curated for the Udemy for Business collection

Requirements

  • You should be able to use Excel at a beginner to moderate level
  • Know some basic investment terminology

Description

What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level.

Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that.

Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return.

So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns.

The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics.

What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated.

The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles.

Who this course is for:

  • Angel Investors, Startup Founders, Analysts, CFOs and Business Owners

Course content

3 sections • 50 lectures • 4h 22m total length

  • Preview03:12
  • Preview10:29
  • Adding in the Option Pool
    02:59
  • Valuation Checks
    00:48
  • What if There is a Convertible Note?
    03:46
  • Formula Review
    00:49
  • Methods of Convertible Note Conversion
    10:02
  • Methods of Convertible Note Conversion pt. 2
    04:54
  • Observations on Conversion Methods
    00:48
  • Valuation Cap Calculations
    04:45
  • Adding Logic to the Cap Table
    07:56
  • Adding Logic to the Cap Table pt. 2
    08:03
  • Calculation Check
    02:03
  • Formula Review
    01:10
  • Eccentricities of Convertible Notes
    07:22
  • How to Add a Series A
    03:53
  • Series A Share Price
    06:15
  • Fully Diluted Percentages
    02:30
  • How to Manipulate Hard Coded Cells
    02:02
  • Pre-Money and Post-Money
    01:09
  • How to Add a Series B
    06:48
  • Refining Option Pool Calcs
    01:45
  • Fixing Errors
    01:03
  • Fixing Erros pt. 2
    02:44
  • What if Investors Follow On?
    02:34
  • Alternate Way to Calculate Convertible Note
    03:13
  • Formula Review
    01:14
  • Cap Table Section Outro
    00:53

  • What is a Waterfall Analysis
    04:24
  • Setting Up the Waterfall Analysis
    02:20
  • External References
    06:01
  • Series B Waterfall
    13:36
  • Additional Analysis of the Series B Waterfall
    02:16
  • Series A Waterfall
    09:23
  • Series Seed Waterfall
    08:55
  • Common and Options Waterfall
    00:32
  • Proceeds by Share Class
    03:48
  • Proceeds by Entity
    09:49

  • No Dilution Provisions Series Seed
    08:41
  • No Dilution Provisions Series A
    06:21
  • No Dilution Provisions Series B
    06:15
  • Full Ratchet Dilution Series Seed
    04:35
  • Full Ratchet Dilution Series A
    11:05
  • How Does a Down Round Affect Full Ratchet Provisions?
    02:32
  • Full Ratchet Dilution Series B
    10:30
  • Weighted Average Series Seed + A
    12:21
  • Additional Info on Using Solver
    00:36
  • Weighted Average Series B
    19:16
  • How to Connect Anti Dilution Provisions to Cap Table and Waterfall
    13:42
  • Course Outro
    00:10

Instructor

Kiley Grant
Analyst and Startup Founder
Kiley Grant
  • 4.0 Instructor Rating
  • 334 Reviews
  • 1,950 Students
  • 1 Course

I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants.

I've seen nearly every type of deal and syndicated across many parts of the country.

I am a learn by doing type of guy and teach in a style catered to people like me

  • Udemy for Business
  • Teach on Udemy
  • Get the app
  • About us
  • Contact us
  • Careers
  • Blog
  • Help and Support
  • Affiliate
  • Impressum Kontakt
  • Terms
  • Privacy policy
  • Cookie settings
  • Sitemap
  • Featured courses
Udemy
© 2021 Udemy, Inc.