Advanced Topics in Venture Investing (FINC-982-5)
This advanced course builds on the introductory concepts covered in FINC445 and provides a deep-dive into how VCs evaluate potential startup investments and subsequently manage those investments. We use recent deal flow from Bay Area VC funds as the basis for class discussion, with the participation of the involved VCs and entrepreneurs, who will join us in class for the analysis and discussion. The course provides a unique window into the activity and decision processes used by VC funds on a daily basis. The primary perspective of the course is that of the venture capitalist in assembling and evaluating information, preparing forecasts, assessing risks, developing and negotiating investment structure and terms, and deciding whether to invest. Cases also touch on management and financial problems and policy issues, and the relationship between venture capitalists and entrepreneurs. The secondary perspective is that of the entrepreneur and the techniques and skills employed in managing growing enterprises. The course employs a flipped classroom approach, whereby significant preparation is completed outside the classroom prior to the course sessions, such that we can focus on in-depth discussion for the full class period. The course is aimed at students who are considering a career in the entrepreneurial sector, including those who wish to start new ventures, join new and growing organizations, or to work in the venture capital or related industry. The course is only offered in the San Francisco immersion program.