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 100
  1. 021Kursivik HRtech charges per employee seat, and its biggest customers are cutting staff. Model next year's NRR before and after a planned 8% price rise, and say how much churn the price rise can afford to cause.SaaS metrics and diagnosticsCoreSaaS-focused VCSeries A to C VC
  2. 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
  3. 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
  4. 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
  5. 025Pitch Yatravik Fleet Software, which sells operating software to intercity bus operators, in the room: 1,900 buses at Rs 2,500 a bus a month, 6% monthly additions, 1% churn, raising Rs 25 crore at Rs 150 crore post. Size ARR 24 months out and say what has to be true.Company pitchWarm upSaaS-focused VCIndia VC
  6. 026Antimvik Logistics pays a rider by the day and earns Rs 32 a parcel. What does a parcel cost at 25 drops a day and at 40, and what drop density breaks even?Unit economicsWarm upIndia VCSeed and early-stage VC
  7. 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
  8. 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
  9. 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
  10. 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

Company names and figures are illustrative.