Ultimate Venture Capital: How to model investment rounds
4.2 (243 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,241 students enrolled

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.
4.2 (243 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,241 students enrolled
Created by Kiley Grant
Last updated 11/2019
English
English [Auto]
Current price: $93.99 Original price: $134.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 4.5 hours on-demand video
  • 1 downloadable resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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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
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
Expand all 50 lectures 04:22:17
+ The Cap Table
28 lectures 01:45:09
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
+ Waterfall Analysis
10 lectures 01:01:04
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
+ Anti-Dilution Provisions
12 lectures 01:36:04
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