VC Prep Seminar

Taught by Paul Lee, Partner, Lightbank

Mondays Oct. 27th – Dec. 1st (no class on Nov. 24th)
6:30 – 8:30 pm
Limit of 30 students.

The Kellogg VC Prep Seminar taught by Paul Lee meets weekly on Mondays between Oct. 27 and Dec. 1 (no class on Nov. 24). This seminar does not offer course credit, but is targeted to MBA students seeking a deeper understanding of how to evaluate early stage companies and the process of making and completing a formal investment. The seminar is primarily geared toward providing background information for VC students interested in competing in the Kellogg, regional and potentially the national Venture Capital Investment Competition (VCIC). Students interested in competing for the VCIC are highly encouraged to apply, and preference will be given to first year students who have not had the opportunity to have taken relevant courses.

The five lectures will focus upon the following topics:
  1. HOW VENTURE CAPITAL WORKS. A detailed look into venture capital as an industry and a granular look at an average week of a VC and the amount of deal flow that comes from various sources. The focus will be on how to differentiate your messaging, techniques to obtain a more meaningful dialog, receiving feedback from a GP at a venture firm, and the importance of a detailed followup. 
  2. UNDERSTANDING THE FUNDRAISING PROCESS. An overview of the process from start to finish — how a startup gets processed by a venture capital firm and what an actual investment process and timeline looks like.
  3. THE DUE DILIGENCE PROCESS. How venture firms conduct diligence and evaluate startup opportunities. How firms evaluate opportunities with very little data. 
  4. NEGOTIATING THE DEAL. Overview of term sheet terms and definitions. What matters and what doesn’t in negotiations with venture firms. 
  5. ASSESSMENT OF AN ACTUAL COMPANY. An exercise in analyzing, evaluating, and negotiating with an actual startup.

The application is available here, and the application deadline is Friday, Oct. 17. Accepted applicants will be notified by Wednesday, Oct. 22 if they have been accepted in to the seminar.