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 1–3 of 3 · 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. 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
  3. 069Sarthavik Mobility has two Series B term sheets: a lower price with clean terms, or a higher price with a participating preference and a full ratchet. Compare the founders' proceeds at three exits and after a later down round.Term sheets and waterfallsHardSeries A to C VCIndia VC

Company names and figures are illustrative.