RSM2314 Private Equity and Entrepreneurial Finance Alexander Dyck [email protected]

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RSM2314 Private Equity and Entrepreneurial Finance Alexander Dyck Adyck@Rotman.Utoronto.Ca

RSM2314 Private Equity and Entrepreneurial Finance Alexander Dyck [email protected] TARGET AUDIENCE Students interested in consulting, investment banking, entrepreneurship, venture capital, private equity, and funds management (e.g. as an institutional investor) should find this course of interest. The course is recommended for students following the corporate finance/investment banking major. This course is also useful for those involved in the CDL, highlighting financial issues and how they can and are addressed. COURSE MISSION The last decades have revealed a significant increase in the demand for and supply of private equity (e.g. venture capital and Leveraged Buyout Funds). The course aims to improve students’ ability to understand concepts and institutions in entrepreneurial finance or private equity. The course will provide students with skill sets so they can analyze and understand entrepreneurial financing opportunities and private equity from multiple perspectives: the perspective of the individual/firm seeking and receiving private equity financing for their project; the perspective of the private equity fund; and the perspective of the limited partners that provide finance for private equity funds. The course utilizes tools and frameworks from economics, finance, strategy, accounting and law, applying them to case situations. COURSE SCOPE The course will be divided into three sections: Users of private equity – This section focuses on the challenges entrepreneurs/managers face in attracting finance to fund their ideas. Students will be required to apply a qualitative framework to assess an idea; to apply a quantitative framework to value the opportunity; and to understand the role of contracts to align incentives for value creation. Private equity partnerships – This section focuses on issues private equity partnerships face when they evaluate, choose and manage private equity investments. This section evaluates methodologies as well as possible ways to improve them. Private Equity investors - This section focuses on the challenges facing private equity investors, be they endowments, pension plans, family offices, or fund managers. The section highlights issues in performance measurement and the evolution of the industry. REQUIRED RESOURCES Course package of case studies and textbook, “Venture Capital and the Finance of Innovation,” by Andrew Metrick and Ayako Yasuda, second edition. COURSE FORMAT Case discussions, lecture, and general class discussion, with occasional professional visitors. EVALUATION AND GRADE DISTRIBUTION Component Due Date Weight Class Participation Ongoing 30% Case Write-ups, Ongoing 20% Problem Sets and Quiz Investment Committee 25% Project Exam 25% .

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Entrepreneurial Finance Finc-Gb.3361.00
ENTREPRENEURIAL FINANCE FINC-GB.3361.00 Professor Glenn A. Okun E-mail [email protected] [email protected] Home page: www.stern.nyu.edu/~gokun Phone: 212 998 0780 COURSE DESCRIPTION This course seeks to provide an understanding of the financial and transactional skills that are required to fund new businesses and mature firms. The course will integrate both an academic and practitioner view of the challenges facing entrepreneurs and investors involved in business start-up, venture capital, and private equity investment activities. The course presents frameworks and techniques that are needed to evaluate high-risk opportunities and structure appropriate investment transactions. It should be of interest to those who wish to work as entrepreneurs or as members of a venture capital or private equity investment company. Course Methods Each class will include discussion of readings, case analysis and group activities. Students will analyze cases with an action orientation, for example, what steps should we take to further the development of the venture? What are the venture’s risks and how should they be managed? How should the company be financed? How should the deal be priced and structured? What tactics might be utilized in order to secure a more favorable deal? We will adopt the perspective of different roles in all case discussions (for example, the issuer versus the financier, corporate investors versus fund operators and angels). Classroom Contributions. The learning experience in a course like this one depends heavily on each student being prepared to actively participate in every class session. We all have expectations that will enrich the topic and direction of discussion in the course.
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Entrepreneurial Finance
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