Venture Capital & Private Equity 

Date and cost of the workshop 

  • Duration: 2 days = 16 teaching hours (1 teaching hour = 45 minutes)
  • Date: 29-30 June 2020, 9 a.m. to 4 p.m.
  • Price: PLN 1600 (gross - rate exempt from VAT)
  • Price with discount for Kozminski University graduates: PLN 1440 (gross - rate exempt from VAT)

Overview 

Famous success stories that are the pride of the American economy, such as Microsoft, Intel, DEC, Genentech or, more recently, Amazon.com, Google and Youtube received venture capital investments in their early days. Dino Polska, Żabka, Bankier.pl, Travelplanet.pl were financed by VC/PE firms located in Poland. 

Private equity (PE) is organized as a long-term (typically 7 to 10 years) investment fund. Investors (limited partners) commit to a fund for this time. They do so under conditions that define their commitment and involvement in aspects of fund operation. Private equity funds invest in tightly held equity or quasi-equity investments. Shares are not listed on public stock exchanges. PE investments often focus on existing private companies. In some cases, PE investors acquire public corporations and delist them from stock exchanges. 

Venture capital (VC) investments refer to equity investments in new companies with high growth potential, many of which are found in emerging technology sectors. In contrast to the other categories of PE, VC firms target opportunities for taking companies from early to later stages of growth. Buyout and related PE firms tend to show interest in these companies and sectors once they have reached full maturity. VC investments are included under private equity investments although these two terms may also be used interchangeably.

This hands-on workshop is taught using a case-studies from real life in Poland and from the best business schools.

Participants will be asked to do a prep to this masterclass and to read recommended case-studies what will make our discussions very practical and useful. 

Target group 

  • Entrepreneurs / owners of start-ups / heads of family businesses who:

    • want to attract an angel investor or a venture capitalist
    • are going to develop their business together with a private equity fund

  • Managers who want to change their status and to do a Management Buy Out / Leverage Buy Out
  • Finance practitioners, consulting firms, advisors providing corporate financial strategy and financial consulting services
  • Academics and students who are looking out for strategic insights into the practical aspects of business finance and decision-making

Instructor 

Marek Panfil, Ph.D.

  • is an experienced instructor in the Department of Finance at Kozminski University, the Head of the Continuing Studies Business Valuation and Financial Modelling.
  • Marek is passionate about teaching and doing business valuation
  • He has over twenty years of business experience, including two years at KGHM International Ltd. (mining) in Vancouver on a position of Internal Audit Manager, two years as a Manager at Ernst & Young (EY) Vancouver (Transaction Advisory Service, Valuation and Business Modeling), six years as a Non-Executive Director / Chief of Audit Committee at KGHM Polska Miedź SA (top 10 world producer of copper and silver) in Warsaw / Lubin and as a value-based management advisor to many entrepreneurs.   
  • His research interests include business and intangible assets valuation, entrepreneurial finance (including business angels, venture capital, mezzanine, management and leverage buyout), value-based management, and capital budgeting. He published many works about business and intangible assets valuation and private equity/venture capital (seven books and 20 articles) published in Polish, English, and Chinese.
  • Marek has taught Entrepreneurial Finance EMBA course at SFU Beedie School of Business in Vancouver, Canada (2017), and Corporate Finance course at VanWest College in Vancouver (2018).  
  • He has participated in several trainings and development programs for academics, including Case Study Workshop at IESE Business School (2010). In 2012 he was a visiting scholar at NYU Stern School of Business.
  • Marek successfully completed Chartered Business Valuation (CBV) Level I (Introduction to Valuation), Level II (Intermediate Business Valuation), Level III (Advanced Business Valuation), Level IV (Special Topics in Valuation), Valuation for Financial reporting, and Corporate Finance.  He gained proficiency in the Canadian context of business valuation and litigation support.
  • He co-authored Poland’s first comprehensive statement of the principles for business valuation for the Polish Federation of Associations Property Appraisers (April 2011);

http://marekpanfil.com/

Program highlights 

  • Assessment of Opportunities in Venture Capital and Private Equity
  • Financial Cycle. Sources of Start-up Financing. VC/PE Fundraising Process
  • Valuation of venture-backed companies
  • Due Diligence and Deal Structuring
  • Leverage Buyouts and Value Creation by PE funds

Benefits for You & CO. 

After completion of the course you will be able to:

  • Understand VC/PE funds’ investment requirements what may help them raise this source of capital
  • Investigate actual deals in emerging markets, Europe and the US, and improve your global deal-making perspective.
  • Define a range of entrepreneurial (equity, debt, and hybrid) financing alternatives at different stages of a company’s financial life cycle
  • Explore a range of scenarios, including financing a start-up, management buy-outs, holding equity, institutional investing and harvesting.
  • Determine the difference between business angels and venture capitalists
  • See due diligence from both sides of the table, explore shareholder agreements, and learn how to structure and price financing options and manage multiple rounds of financing.
  • Assess the value of company using discounted cash flow (DCF) or multiple approaches
  • Apply equity valuation techniques to a start-up company
  • Understand a term sheet
  • Finalize his/her exit strategy, focusing on initial public offerings and trade sales.

Contact: 
Agnieszka Marciniuk

International Relations Manager