Venture capital and angel funding have become a critical element in the start-up, entrepreneurial and capital market scene. Unlike in the past, billions of dollars are now being allocated to these asset classes, despite their high risk-high return, risk profile. The factors driving this change will be discussed interactively in the Masterclass. New business models attracting venture capitalists are disrupting old approaches and with the potential to innovate and create billions of dollars of value and unicorns. New investors – large and small- are entering this asset class including sovereign wealth funds, angels and high net-worth individuals.

Challenges of the strategies of leading venture capitalists like Tiger Global, Softbank and Sequoia Capital will be analyzed and discussed with case studies like Byte Dance (TikTok). The inner working and , structure of venture capital funds will be analyzed. The characteristics of deals that attract the top VC’s and angels will be identified. How the top VC’s source
deals and what they regard as the key ingredients of successful entrepreneurs and their investment rationale will be discussed interactively. VC’s methods to add value to portfolio companies will be illustrated. The attributes and the operating methods of angel investors will be identified. Case studies of successful investments will be used to highlight key lessons.

The challenges faced by start-ups will be identified. Particular emphasis will be placed on how start-ups can scale successfully. Examples of start-ups that have scaled exponentially will be provided. The methods of valuing start-ups at various stages will be covered. The capital structure and the role of the option pool in incentivizing and aligning the interests of founders, staff and investors will be illustrated. The structuring of various types of exits, the risks involved and their implementation will be shown with examples. Finally, in order to drive home key techniques, the crescendo will be a negotiation game, facilitated by the Course Director, which will be played by all participants to prepare and negotiate VC term  sheets.

• Grasp the solutions to problems and challenges facing start-ups and VCs
• Understand the structuring, raising and the management of a VC fund
• Know how funds are raised by start-ups from angels & VCs
• Understand product-market fit, how famed start-ups grew & scaled rapidly
• Identify the characteristics of successful entrepreneurs
• Learn how venture capital funds invest, divest & build portfolios
• Discuss how fund managers add value to portfolio companies
• Understand how key deal structuring issues are addressed and termsheets are negotiated
• Understand the drivers of start-up valuation & option arrangements
• Understand venture capital termsheets

• Those wishing to enhance careers
• Learning to engage proactively with problems and solutions in the start-up and VC arena
• Holders of CFA, CAIA, FRM, MBA qualifications
• Venture capital fund managers
• Investment Officers
• Entrepreneurs, including start-ups
• Limited Partners
• Founders & Directors
• Sovereign Wealth Funds
• Insurance Companies
• Private equity managers
• High net-worth Angel Investors
• Corporate VC Managers
• Engineers
• Bankers
• Risk Managers
• Lawyers & Accountants

• Funding for Start-ups: Venture & Angel Capital
• How Venture Capital Funds Operate
• Start-up Funding: How Angels Operate
• Value Addition by VCs
• Quality of Deal Flow
• Start-up Challenges: Initial & Scaling Stages
• Capital Structure & Options in Start-ups
• Valuation
• Exit Strategies
• Venture Capital Term Sheets