Ultimate Venture Capital: How to model investment rounds

  • Course provided by Udemy
  • Study type: Online
  • Starts: Anytime
  • Price: See latest price on Udemy
Udemy

Course Description

What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level.

Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that.

Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return.

So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns.

The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics.

What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated.

The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles.

Who this course is for:

  • Angel Investors, Startup Founders, Analysts, CFOs and Business Owners

Course content

3 sections • 50 lectures • 4h 22m total length
  • Adding in the Option Pool
    02:59
  • Valuation Checks
    00:48
  • What if There is a Convertible Note?
    03:46
  • Formula Review
    00:49
  • Methods of Convertible Note Conversion
    10:02
  • Methods of Convertible Note Conversion pt. 2
    04:54
  • Observations on Conversion Methods
    00:48
  • Valuation Cap Calculations
    04:45
  • Adding Logic to the Cap Table
    07:56
  • Adding Logic to the Cap Table pt. 2
    08:03
  • Calculation Check
    02:03
  • Formula Review
    01:10
  • Eccentricities of Convertible Notes
    07:22
  • How to Add a Series A
    03:53
  • Series A Share Price

    Expected Outcomes

    1. Build a Cap Table and Waterfall Analysis from scratch Learn the actual numbers behind investment terms Know the direct impact on ownership percentages of every major term sheet provision Build Private Equity and Venture Capital Investment Models From Scratch Have solid PE/VC acumen Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    2. Learn the actual numbers behind investment terms Know the direct impact on ownership percentages of every major term sheet provision Build Private Equity and Venture Capital Investment Models From Scratch Have solid PE/VC acumen Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    3. Know the direct impact on ownership percentages of every major term sheet provision Build Private Equity and Venture Capital Investment Models From Scratch Have solid PE/VC acumen Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    4. Build Private Equity and Venture Capital Investment Models From Scratch Have solid PE/VC acumen Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    5. Have solid PE/VC acumen Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    6. Pass private equity Interviews Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    7. Pass venture capital interviews Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    8. Understand how valuation impacts ownership Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    9. Calculate potential payout after multiple investment rounds Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    10. Learn about different types of investment structures Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.dataset.checked ? '' : 'checked'; } else { input.dataset.checked = input.dataset.allowToggle && input.dataset.checked ? 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    11. Learn how to structure and modify a cap table Learn how to calculate proceeds from the sale of a business. Show more Show less Requirements You should be able to use Excel at a beginner to moderate level Know some basic investment terminology Description What I have learned over the years is that most people, from startup founders to investors don't understand the cap table, and consequently their ownership, on a deep level. Most founders lack the knowledge to model out future rounds and don't grasp key economic terms when negotiating their term sheet. This course will change that. Most investors don't know how the waterfall will work in a liquidity event and what the liquidation preference really means to their overall return. So, I created this course to teach the breadth of professionals involved in early stage capital how this all really works. It is exhaustive and touches on every key point I know that is economic to a deal. Learning how to plan and understand the ownership of your company is critical to keeping motivation and maximizing returns. The course is taught through excel. It is hands on, get dirty, struggle to understand until the lightbulb goes off and you get it right. I teach it the exact way that i learn, which is by doing. It is step by step with commentary on the specifics. What it is not, however, is a course in excel. While their are not overly complicated functions involved, you should have a base knowledge or you will get frustrated. The value of this course is what it will save you in attorney's fees, equity, and potentially greater returns on your investments.You can learn how to project and manage your growth and join a community of people going through the same struggles. Who this course is for: Angel Investors, Startup Founders, Analysts, CFOs and Business Owners Show more Show less Course content 3 sections • 50 lectures • 4h 22m total length Expand all sections The Cap Table 28 lectures • 1hr 45min Basic Share Distribution Preview 03:12 Structure and Share Price Calcs Preview 10:29 Adding in the Option Pool 02:59 Valuation Checks 00:48 What if There is a Convertible Note? 03:46 Formula Review 00:49 Methods of Convertible Note Conversion 10:02 Methods of Convertible Note Conversion pt. 2 04:54 Observations on Conversion Methods 00:48 Valuation Cap Calculations 04:45 Adding Logic to the Cap Table 07:56 Adding Logic to the Cap Table pt. 2 08:03 Calculation Check 02:03 Formula Review 01:10 Eccentricities of Convertible Notes 07:22 How to Add a Series A 03:53 Series A Share Price 06:15 Fully Diluted Percentages 02:30 How to Manipulate Hard Coded Cells 02:02 Pre-Money and Post-Money 01:09 How to Add a Series B 06:48 Refining Option Pool Calcs 01:45 Fixing Errors 01:03 Fixing Erros pt. 2 02:44 What if Investors Follow On? 02:34 Alternate Way to Calculate Convertible Note 03:13 Formula Review 01:14 Cap Table Section Outro 00:53 Waterfall Analysis 10 lectures • 1hr 1min What is a Waterfall Analysis 04:24 Setting Up the Waterfall Analysis 02:20 External References 06:01 Series B Waterfall 13:36 Additional Analysis of the Series B Waterfall 02:16 Series A Waterfall 09:23 Series Seed Waterfall 08:55 Common and Options Waterfall 00:32 Proceeds by Share Class 03:48 Proceeds by Entity 09:49 Anti-Dilution Provisions 12 lectures • 1hr 36min No Dilution Provisions Series Seed 08:41 No Dilution Provisions Series A 06:21 No Dilution Provisions Series B 06:15 Full Ratchet Dilution Series Seed 04:35 Full Ratchet Dilution Series A 11:05 How Does a Down Round Affect Full Ratchet Provisions? 02:32 Full Ratchet Dilution Series B 10:30 Weighted Average Series Seed + A 12:21 Additional Info on Using Solver 00:36 Weighted Average Series B 19:16 How to Connect Anti Dilution Provisions to Cap Table and Waterfall 13:42 Course Outro 00:10 Instructor Kiley Grant Analyst and Startup Founder 4.1 Instructor Rating 381 Reviews 2,294 Students 1 Course I've spent several years in the trenches hammering out cap tables for investors and startups. I have done everything from simple transactions to extremely complicated ones that required conversion of notes and warrants. I've seen nearly every type of deal and syndicated across many parts of the country. I am a learn by doing type of guy and teach in a style catered to people like me Show more Show less Udemy Business Teach on Udemy Get the app About us Contact us Careers Blog Help and Support Affiliate Impressum Kontakt Terms Privacy policy Cookie settings Sitemap © 2021 Udemy, Inc. window.handleCSSToggleButtonClick = function (event) { var target = event.currentTarget; var cssToggleId = target && target.dataset && target.dataset.cssToggleId; var input = cssToggleId && document.getElementById(cssToggleId); if (input) { if (input.dataset.type === 'checkbox') { input.dataset.checked = input.datase