Demystifying VC Term Sheets & Cap Tables

Adam McGowan – Demystifying VC Term Sheets & Cap Tables23 Lessons2h 37m66,939 StudentsUnderstand the analysis that’s done and the jargon used by venture capital professionals in early-stage investing in this recording of a training delivered by Wall Street Prep to Venture Capital professionals. While no prior experience is required, this venture capital course moves at a very fast pace.Understand Venture Capital Valuation, Term Sheets and Cap TablesHow do venture capital (VC) professionals determine the size and ownership stake of their investments? How do they construct term sheets to optimize their chances of generating high investment returns? And how do they construct cap tables to address challenges including option pools, convertible debt and multiple investors?The 2-hour venture capital valuation course will demystify the analysis that’s done and the jargon that’s used in early stage investing“Learn By Doing” This exercise-driven course includes downloadable VC Term Sheet and VC Cap Table Excel exercise files.What You’ll LearnPart 1: The VC Process and Term SheetThe early stage investing landscapeA typical VC deal process and timelineVC return economics – why they need to hit home runsVC Valuation – back-solving into a pre-money / post-money valuationUnderstanding VC term sheetsPart 2: VC Math and Cap TablesCap Table Math: Dilution and price per share after new roundCalculating Impact of Option PoolCalculating Impact of Multiple InvestorsCalculating impact of Convertible DebtConstructing a Cap TableFlow of Funds and Distribution WaterfallCourse SamplesTerm SheetsWarm Up: Option PoolConvertible DebtCourse ExtrasTaught by bankersOur instructors are former investment bankers who give lessons real-world context by connecting it to their experience on the desk.Used on the StreetThis is the same comprehensive course our corporate clients use to prepare their analysts and associates.Breeze though lesson videos at 1.5x & 2x speedSave loads of time by bumping up playback speed to breeze through lessons at your own pace.Free Unlimited Access to the WSP Support CenterReceive answers to questions, free downloads, and more from our staff of experienced investment bankersPrerequisitesThis course does not assume a prior background in VC term sheets or cap tables. However, this course is taught at a fast pace and those who enroll should have an introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement) and proficiency in Excel. Students with no prior background in Accounting should enroll in the Accounting Crash Course. Students with limited experience using Excel should enroll in the Excel Crash Course.Course TOCCourse Introduction1 VC Term Sheets and Cap Tables Course Welcome 0:46The VC Process and Term Sheet2 Venture Capital Term Sheet Intro 1:203 Example Deal 3:164 Sources of Capital 5:375 Stages of Capital 1:436 Process/Timeline 3:287 VC vs Entrepreneur 1:468 Law of Returns 2:429 Valuation Drivers 2:4410 Exercise 1: Return Economics 7:3511 Valuation 9:0812 Exercise 2: Valuation Decisions 8:2313 Term Sheets 25:0714 Exercise 3: Term Sheet 5:23VC Math and Cap Tables15 VC Term Sheet Recap and Agenda 1:5116 VC Cap Table Intro 4:2517 Warm Up – Simple New Investment Calculations 5:5918 Warm Up – Option Pool 6:5319 The Impact of Multiple Investors 5:2920 Convertible Debt 9:2321 Waterfall Flow of Funds 12:1022 Cap Table 1: New Investor + Options 11:5323 Cap Table 2: 2nd Investor + Converts 19:53View Less