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 1–10 of 20 · filtered from 100Clear filters
  1. 001A Series A lead offers Kavachik Security a higher pre-money valuation, but only with a bigger option pool, a 1.5x liquidation preference and a second board seat. What does each term cost the founders, and which would you trade?Term sheets and waterfallsHardSeries A to C VCSaaS-focused VC
  2. 004Kistvik Credit makes 30-day pay-later loans of Rs 8,000 for a 3% fee. With its funding cost, defaults and servicing costs, does each loan make money, and at what default rate does it break even?Unit economicsHardFintech VCIndia VC
  3. 013Value Trivenik Biotech's Series A with three scenarios, a 35% discount rate and 40% dilution to exit. What post-money valuation can a Rs 40 crore investor justify?Early-stage valuationHardHealthcare VCDeep tech VC
  4. 017Swasthvik Clinics sells a Rs 999 a month family health membership. What does each member contribute, what is a member worth over their lifetime, and at what level of usage does the model fail?Unit economicsHardHealthcare VCIndia VC
  5. 029Sikkavik Payments raised Rs 4 crore on a SAFE with a Rs 40 crore cap, and now raises a Series A. How do the founders fare if the SAFE was pre-money versus post-money, and who carries the SAFE's dilution in each case?Cap tables and round modellingHardFintech VCSeed and early-stage VC
  6. 030Sudhvik Partners Fund III exits its first deal early for a big gain and later loses heavily on its second. Compare the carry paid under a deal-by-deal waterfall and a whole-fund waterfall, and work out the clawback at the end.Fund economics and LP mathsHardFund of funds and LPsGrowth equity
  7. 036Kalpvik Games sells for Rs 350 crore. Seed, Series A and Series B each hold preferred shares with different preferences, participation and seniority. Run the waterfall: who gets what?Term sheets and waterfallsHardSeries A to C VCConsumer internet VC
  8. 043Kaalvik Growth Fund I is in year eleven with two assets left. The GP proposes a continuation vehicle at a 10% discount to NAV. What does a selling LP get, what must the assets reach for a rolling LP to do better, and where is the conflict?Fund economics and LP mathsHardSecondariesFund of funds and LPs
  9. 046Weekend take-home case: write the investment memo on a Rs 250 crore minority stake in Aushvik Pharma, a speciality generics maker bought at 16x EBITDA, weighing three five-year scenarios, and recommend.Growth equity returnsHardGrowth equityHealthcare VC
  10. 048Saptavik Seed Fund I has Rs 60 crore of reserves and five portfolio companies raising their next rounds, all aiming at the same Rs 3,000 crore outcome. Allocate the reserves by expected multiple per rupee.Portfolio management and follow-onsHardSeed and early-stage VCVC platform and portfolio operations

Company names and figures are illustrative.