Venture Capital case studies, worked step by step

Cases
100
Traced to a firm
33
Topics
13
Hard
30
Topic
All topicsTerm sheets and waterfalls9Company pitch10Portfolio management and follow-ons8Unit economics9Down rounds, distress and runway7Fund economics and LP maths6Market sizing and theses8SaaS metrics and diagnostics9Cap tables and round modelling8Growth equity returns8Diligence and red flags5Exits and secondaries6Early-stage valuation7
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 11–20 of 50 · filtered from 100Clear filters
  1. 022Build Anshvik Health's cap table through a seed, a Series A with a 12% pool inside the pre-money and a Series B with a fresh 10% pool. Show share counts, prices and founder ownership after each round, and say what the pools cost the founders.Cap tables and round modellingCoreHealthcare VCSeries A to C VC
  2. 023Explain the value added in a deal: a fund bought Kosvik Packaging at 12x EBITDA with Rs 300 crore of net debt and sold it five years later at 14x a larger EBITDA with less debt. Split the equity gain into EBITDA growth, multiple expansion and debt paydown.Growth equity returnsCoreGeneral AtlanticLondon · 2021
  3. 024Krishivik Agri's investors hold convertible preference shares with a put against the promoters at cost plus 10% a year simple. In year six the company is worth Rs 90 crore. Compare the put with the converted stake, and set out what Indian pricing and foreign investment rules do to such a promise.Term sheets and waterfallsCoreIndia VCSeries A to C VC
  4. 028Make the bear case on Zorvik Quick Commerce, a popular dark-store grocery company. What does each order and each store contribute, and how many orders does a store need to break even?Company pitchCoreConsumer internet VCIndia VC
  5. 031Poshvik Nutrition takes an insider bridge as a convertible note with a 25% discount and a cap at 70% of the last post-money. The next round prices lower. Which term binds, how much does the bridge own, and what would a flat round have given it?Down rounds, distress and runwayCoreConsumer internet VCSeed and early-stage VC
  6. 032Hypervik AI raised at Rs 2,000 crore post-money on Rs 40 crore of ARR, 50 times. If mature peers trade at 10x ARR and this round needs 3x in five years after 25% dilution, what ARR must Hypervik reach, and what growth does that imply?Early-stage valuationCoreSaaS-focused VCGrowth equity
  7. 035Which of our investments is your least favourite? Korvanta Ventures Fund I holds five companies with very different problems. Rank them on the numbers, pick one, and phrase it for a partner who may have sourced it.Portfolio management and follow-onsCoreBattery VenturesBoston · 2019
  8. 037Haatvik Commerce reports Rs 480 crore of revenue by booking the full value of goods its sellers sell on the platform. Seller payouts are Rs 430 crore and returns are 9% of GMV. What is net revenue, what is the real take rate, and what multiple should you use?Diligence and red flagsCoreConsumer internet VCIndia VC
  9. 038Dukanvik Retail Tech lists at Rs 5,000 crore post-issue with a Rs 600 crore fresh issue and a Rs 400 crore offer for sale. Your fund holds 9% before the issue. How much can you sell, what do you own after listing, and what does the lock-up mean for your realised multiple?Exits and secondariesCoreGrowth equityIndia VC
  10. 039Nikhravik Beauty, a D2C skincare brand, pays Rs 650 to acquire a customer, and only some customers reorder. When does a customer become profitable?Unit economicsCoreConsumer internet VCIndia VC

Company names and figures are illustrative.