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 33 · 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. 009Follow one seed cheque through the whole venture process: a fund buys 15% of Sopanvik Freight for Rs 3 crore, is diluted by three later rounds, and the company sells in year eight. What is the stake worth at each stage, and what is the IRR?Cap tables and round modellingCoreWarburg PincusNew York · 2013
  4. 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
  5. 016What do you think about this portfolio company? Nirikvik Logistics has grown revenue 58% since its last round, but margins are down, burn is up and eight months of cash are left. Is it a better or worse business than the one you invested in?Portfolio management and follow-onsWarm upInsight PartnersNew York · 2025
  6. 020How would you evaluate a company riding a trend? Pawvik Petcare grew revenue from Rs 40 crore to Rs 58 crore while its market grew 30%. How much of the growth is the trend, how much the company, and what happens if the market slows?Market sizing and thesesWarm upGeneral Atlantic, New York, NYUSA · 2018
  7. 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
  8. 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
  9. 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
  10. 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

Company names and figures are illustrative.