Courses are together with exams the building blocks for modules. Please keep in mind that information on the contents, learning outcomes and, especially examination conditions are given on the module level only – see section "Assignment to Modules" above.
||The course is divided into three main parts: In the first part, special attention is put on the perspective of the entrepreneur. Students get an overview of different sources of funding available to young companies.
The second part provides a broad overview of the private equity industry including both early stage venture capital and buyout funds. Further, the business model of private equity firms and the relationship between an equity investor and an entrepreneurial firm are analysed in more detail. Based on a general understanding of the private equity industry, the refinancing and investment process of a private equity firm will be discussed intensively. The refinancing process is divided into three parts: fundraising, investor relations and the return of funds. The investment process mainly covers the following activities of a private equity firm: sourcing, screening, contracting, venture management and exiting. Special attention is given to both early stage venture capital funds and later stage buyout funds as different types of private equity. Students will also understand the characteristics of venture capital and private equity funds as an alternative asset class for institutional investors as well as learn about corporate venture capital as special form of early stage equity financing.
In the third part, the course focuses on the valuation of entrepreneurial ventures. The specific requirements for the valuation of entrepreneurial firms will be identified. Standard valuation methods will be analysed as to their applicability in different contexts. Valuation methods include the discounted cash flow and multiple approach. In addition, context-specific approaches to new venture valuation are considered. Factors influencing the negotiation process between an entrepreneur and an equity investor will be discussed and analysed.
E-Learning course (e. g. Moodle)