Table of Contents
National Training and Demonstration Institute on Technology Development and Commercialization “Venture Capital 101”
Agenda
Introduction
Venture Capital Process
Venture Capital Process
What VC’s Look for in a Deal With Some Short Comments on the Process
A Venture Fund Looks for...
In Today’s World, The Best Strategy...
Due Diligence is Our Reference Checking
There are Several Types of Due Diligence
The Take Away Message on Due Diligence...
What Does It Take to Be an Entrepreneur?
Do You Have the Mind-Set of an Entrepreneur?
Speaking of Failure...
So What Does it Take?
1. Obviously, Start with A Terrific Idea/Concept
2. Next, Consider the Market
3. Understand the Competitive Landscape
4. What is the Core Technology?
5. What is the Business Model?
6. Can You Raise Money?
7. Is the Team World Class?
Valuations: An Art or a Science
Valuing Early Stage Companies is Hard
What We Usually Do is Start With A Supposed Exit Price
Dilution is Expected Through Multiple Rounds
Then, Multiple Issues Need to Be Factored Into the Valuation
The Dilution Kills the VC
Lawyers and Term Sheets
Lawyers are a Necessary Evil
What Does it Mean to Structure a Deal?
Types of Deal Structures
Terms in a Sample Term Sheet
The Legal Process
So , In Summary...
Remember
Questions or Comments Thank You For Your Time
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