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 21–30 of 33 · filtered from 100Clear filters
  1. 056Mandavik Foods raises a down round at Rs 120 a share against a Series A price of Rs 200. Work out the Series A anti-dilution adjustment on a broad base and a narrow base, and say who bears the extra shares.Term sheets and waterfallsCoreSeries A to C VCIndia VC
  2. 059Chalvik Fleet Leasing buys electric scooters and rents them to delivery riders. Work out the payback and the four-year return per scooter, and the utilisation at which the scooter fails to earn back its cost.Unit economicsCoreIndia VCVenture debt
  3. 063Nakshvik Ventures Fund I reports a TVPI of 2.4x and a DPI of 0.3x in year eight, and most of its NAV sits in three companies last priced in 2021. What is a realistic TVPI, and what will the LPs ask?Fund economics and LP mathsCoreFund of funds and LPsMulti-stage VC
  4. 067Tulavik Software can grow 40% a year while burning cash or 25% a year while making it. Which plan creates more equity value after four years, counting the cash burned or generated?Growth equity returnsCoreSaaS-focused VCGrowth equity
  5. 073Utsavik Consumer makes a 9:1 bonus issue before its IPO. Show what happens to the share count, an employee's options, the strike and the price, and whether the employee's stake changes in value.Cap tables and round modellingCoreIndia VCGrowth equity
  6. 075From four quarters of Tessavik Cloud's numbers, compute the latest magic number, CAC payback and burn multiple, and say which is weakest.SaaS metrics and diagnosticsCoreSaaS-focused VCSeries A to C VC
  7. 080An acquirer wants Lekhvik Legal Tech, which has Rs 60 crore of revenue at EBITDA break-even. With Rs 25 crore of cost synergies and Rs 15 crore of revenue synergies at a 40% margin, phased in over two years at a 15% discount rate, what is the most it should pay, and where would you anchor as the seller's adviser?Exits and secondariesCoreSeries A to C VCSaaS-focused VC
  8. 081Price Bimavik Insurtech's Series A from comparable rounds. Three recent rounds were done at 25x, 18x and 12x ARR for companies growing 200%, 120% and 70%. Bimavik has Rs 6 crore of ARR growing 150%. Fit the multiple to growth and name a price range.Early-stage valuationCoreFintech VCSeries A to C VC
  9. 085Safarvik Travel has a Rs 300 crore acquisition offer. Drag-along needs 60% of the preferred plus a majority of the founders. Series A holds 25% with a Rs 40 crore 1x preference, Series B 30% with Rs 160 crore, and two founders hold 25% and 20%. Who can block, and what does each party receive?Term sheets and waterfallsCoreSeries A to C VCConsumer internet VC
  10. 090Danthik Dental plans to buy 40 single-dentist clinics at 5x EBITDA of Rs 60 lakh each, add Rs 15 lakh of EBITDA per clinic through shared procurement, and sell the platform at 14x. How much does multiple arbitrage contribute compared with the operating improvement, and what breaks the plan?Growth equity returnsCoreGrowth equityHealthcare VC

Company names and figures are illustrative.