Venture Capital. Structuring Deals & The Investment Process

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1 Venture Capital Structuring Deals & The Investment Process This in-house course can be presented in-house either on your premises or via live webinar for a group of 5 or more participants Trusted By The Banking and Corporate Finance Training Specialist

2 What Makes This Course Different Covers the entire venture capital investment process from sourcing deals to exiting investments Up to date data on global venture capital investment activity Current issues in the venture capital sector discussed Includes trainer s current research into the performance of venture capital funds and best investment practices Practical Course group exercises Overview and real-life case studies Also covers alternative sources of entrepreneurial finance Copy of BVCA s Guide to Private Equity, written by trainer, provided to all delegates Course Objectives Get to grips with current global trends in the venture capital industry Explore the structure of venture capital funds Learn about the key areas of venture capital structuring deals through real life examples Master the business proposition, including appraising a business plan and the use of Porters 5 Forces Gain an understanding of the venture capital investment process, including valuation and funding structure Have an overview of the post-investment process Learn about exiting from a venture capital deal Be taught about the other alternative forms of early stage finance Course Content Global trends in the venture capital industry Growth and evolution of the industry, including fund raising and investments data The structure of venture capital funds The GP LP fund structure Different strategies for VC funds: stage, sector and geographic focus Theme approach to VC investment Group execise on fund strategy Investment risk and return Case study on ebay Business proposition: Key components of business plan for VC investment Business model Initial appraisal of business plan Porters 5 Forces analysis and traps to avoid with business proposals Group exercise on investment appraisal using Porters 5 Forces Non-disclosure agreements The venture capital investment process: Sourcing deals Structuring VC deals Valuation methods Types of financing structure: ordinary shares, preference shares, A ordinary shares

3 Worked example on structuring a deal Terms included in a typical VC term sheet Negotiating a term sheet Group exercise on term sheet negotiation, using real-life case Carrying our internal and external due diligence Investment decision process in VC firms Group exercise on the rejection or pursual of a VC deal, using real-life case studies Syndicating deals with other VCs The post-investment process: Monitoring the performance of investments Portfolio reviews Group exercise on a real-life VC fund s investment track records Methods of adding value to an investment Case studies on adding value (Cambridge Silicon Radio, Skyscanner) Current topics and issues in venture capital: Sector focus, including current hot areas for investment Technology clusters, including Silicon Valley and UK tech hot spots University spinouts Differences in approach between UK/European and US VC firms Wider environmental and ecosystem factors impacting on venture capital Other Alternative forms of early stage finance: Corporate venture capital Crowdfunding and business angels EIS, SEIS and Venture Capital Trusts Exiting from a VC deal: Trade sales IPOs Secondary deals Group exercise on issues in exiting from a VC deal via an IPO using real-life case Background of the trainer The trainer is a university lecturer, executive trainer and advisor in private equity and venture capital. A chartered accountant and chartered marketer he was with PwC for 28 years, latterly leading the venture capital programme for the Technology Industry Group in Europe. He is the author of "Raising Venture Capital Finance in Europe" (Kogan Page) and "A Guide to Private Equity" (BVCA). He is a Visiting Fellow at Henley Business School, University of Reading where he teaches PE&VC and he has a PhD in venture capital from the Adam Smith Business School, University of Glasgow. Course Summary An Introduction to Venture Capital Deals is a one day interactive executive education course tailored specifically to the venture capital industry. It is aimed at investment executives who are relatively new to venture capital, those who are working ancillary to the investment role, entrepreneurs seeking to raise venture capital finance and accountants, lawyers and other professionals who wish to gain a fundamental understanding of the venture capital investment process.

4 The course covers the entire investment process from originating deals, evaluating business propositions and valuing and structuring deals, through due diligence and deal execution, the negotiation of term sheets, monitoring and adding value to exiting deals via a trade sale or IPO. The course is highly practical, involving interactive case studies, group exercises and discussions. Key Learning Outcomes Attendees of this one day course should gain an understanding of the current trends and issues in the venture capital industry, how to appraise a business proposition, how to arrive at the valuation and required equity stake for a venture capital investment, how to negotiate a venture capital deal, including the principal clauses included in a term sheet, how venture capital firms go about monitoring deals and conducting portfolio reviews, how they seek to add value to an investment and how they seek exits via trade sales and stock market flotations. Attendees will have the opportunity to review investment propositions, negotiate a VC term sheet and review investment portfolios through practical case studies, group exercises and group discussion.

5 Tailored Learning All of our training courses can be tailored to suit your company s exact training needs. We will work closely with you to help develop a training programme with content that is unique for your organisation. Please us on enquiries@redcliffetraining.co.uk for more information E-Learning This course can also be presented as a bespoke e-learning programme created by you to fit your exact requirements.