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 10 · filtered from 100Clear filters
  1. 002Pitch a company that is not in our portfolio: Sutrana Payroll, payroll software for Indian SMEs. The fund already owns an HR software company. Why is this a fit, and what has to happen for the round to return 5x?Company pitchHardInsight PartnersNew York · 2022
  2. 003Give me your opinion of our current portfolio. Meruvale Ventures Fund II reports a TVPI of almost 2.9x, but three of its biggest marks date from 2021 and one company is nearly out of cash. What is a defensible NAV?Portfolio management and follow-onsHardBattery VenturesBoston · 2019
  3. 011How would you approach the financial data? Ankvik Analytics claims Rs 36 crore of ARR. Rebuild ARR from last month's billing export and reconcile the gap.Diligence and red flagsHardGeneral AtlanticNew York · 2023
  4. 027Do a vertical deep dive on India's used-car chain for Gaadivik Auto, a listings site. Where does the profit pool sit, and what should Gaadivik own next?Market sizing and thesesHardInsight PartnersNew York · 2019
  5. 033Modeling test and write-up: build a five-year revenue model for Nukkadvik Stores, a convenience chain adding 60 stores a year, then work out a growth investor's MOIC and IRR at 20x year-five EBITDA.Growth equity returnsHardGeneral AtlanticBeijing · 2014
  6. 054Paper LBO of a profitable software company: Cloudvik Software is bought at 15x EBITDA with 5x of debt and sold at 15x in year five. What are the MOIC and the IRR?Growth equity returnsHardSequoia CapitalSan Francisco · 2021
  7. 068Get grilled on a company of your choosing: Rakshavik Cyber. Defend its metrics, size the three biggest risks, and explain what its last round's terms mean for the fund if the next round is flat.Portfolio management and follow-onsHardBattery VenturesSan Fransisco · 2026
  8. 074Pitch Rinvik Credit, an MSME lender raising Rs 150 crore at 2.5 times post-money book. Show its ROA and ROE, and what a three-point rise in credit cost does to the pitch.Company pitchHardGeneral Atlanticnew york · 2021
  9. 097A difficult SaaS case: Quillonet, a sales-engagement platform, grew ARR 70% to Rs 60 crore, but NRR fell from 125% to 104%, CAC payback rose from 14 to 26 months and gross margin slipped from 80% to 72%. The Series C is Rs 150 crore at Rs 900 crore post. Diagnose what is breaking and decide.SaaS metrics and diagnosticsHardInsight PartnersNew York · 2021
  10. 100Explain why a growth fund should invest in Medivrit Labs, a diagnostics chain with 120 collection centres, revenue Rs 420 crore, EBITDA 22% and same-centre growth of 14%. A new centre costs Rs 1.1 crore and reaches Rs 3.5 crore of revenue at 28% EBITDA by year three. The ask is Rs 300 crore for 18%. Build the case on centre economics and an exit at 18x EBITDA in five years.Company pitchHardGeneral Atlanticnew york · 2022

Company names and figures are illustrative.