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 31–40 of 100
  1. 031Poshvik Nutrition takes an insider bridge as a convertible note with a 25% discount and a cap at 70% of the last post-money. The next round prices lower. Which term binds, how much does the bridge own, and what would a flat round have given it?Down rounds, distress and runwayCoreConsumer internet VCSeed and early-stage VC
  2. 032Hypervik AI raised at Rs 2,000 crore post-money on Rs 40 crore of ARR, 50 times. If mature peers trade at 10x ARR and this round needs 3x in five years after 25% dilution, what ARR must Hypervik reach, and what growth does that imply?Early-stage valuationCoreSaaS-focused VCGrowth equity
  3. 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
  4. 034Explain SaaS to your grandmother, with numbers: Silaivik Software sells software to tailoring shops either as a one-time licence or as a monthly subscription. Why does the subscription business look worse in year one and better later?SaaS metrics and diagnosticsWarm upInsight PartnersNew York · 2019
  5. 035Which of our investments is your least favourite? Korvanta Ventures Fund I holds five companies with very different problems. Rank them on the numbers, pick one, and phrase it for a partner who may have sourced it.Portfolio management and follow-onsCoreBattery VenturesBoston · 2019
  6. 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
  7. 037Haatvik Commerce reports Rs 480 crore of revenue by booking the full value of goods its sellers sell on the platform. Seller payouts are Rs 430 crore and returns are 9% of GMV. What is net revenue, what is the real take rate, and what multiple should you use?Diligence and red flagsCoreConsumer internet VCIndia VC
  8. 038Dukanvik Retail Tech lists at Rs 5,000 crore post-issue with a Rs 600 crore fresh issue and a Rs 400 crore offer for sale. Your fund holds 9% before the issue. How much can you sell, what do you own after listing, and what does the lock-up mean for your realised multiple?Exits and secondariesCoreGrowth equityIndia VC
  9. 039Nikhravik Beauty, a D2C skincare brand, pays Rs 650 to acquire a customer, and only some customers reorder. When does a customer become profitable?Unit economicsCoreConsumer internet VCIndia VC
  10. 040Tell me about a software trend you follow: AI assistants for accounting practices. Turn it into a thesis for Ganakvik AI, which sells to India's CA firms. Size the reachable market and say what must be true.Market sizing and thesesCoreInsight PartnersNew York · 2022

Company names and figures are illustrative.