The University of Texas at Austin


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The University of Texas at Austin

  1. 1. The University of Texas at Austin McCombs School of Business “ Bridging Texas MBA Students to the Venture Capital Community”
  2. 2. Venture Fellows – Agenda <ul><li>Mission </li></ul><ul><li>Program Overview </li></ul><ul><li>Advisory Committee </li></ul><ul><li>Curriculum </li></ul><ul><li>Partner Firms </li></ul><ul><li>Typical Assignments </li></ul><ul><li>Next Steps </li></ul>
  3. 3. Venture Fellows – Mission <ul><li>To provide a unique learning opportunity for exceptional students through hands-on work experience at venture capital firms, and a relevant curriculum focused on the venture capital industry. </li></ul><ul><li>We accomplish this mission through the following actions: </li></ul><ul><ul><li>Recruit exceptional Texas MBA students with a keen interest in venture capital and significant work experience, </li></ul></ul><ul><ul><li>Attract top-tier venture capital firms as sponsors of the program and place the fellows in internships with these firms, </li></ul></ul><ul><ul><li>Implement a relevant curriculum focused on the venture capital and start-up communities, </li></ul></ul><ul><ul><li>Create real value for the venture capital firms, Venture Fellows, and other parties affiliated with the program. </li></ul></ul>
  4. 4. Venture Fellows - Program Overview <ul><li>Venture Fellows is a two semester practicum focused on the intricacies of venture capital, private equity, and early-stage incubation. Fellows receive 3 credit hours each semester for participation. </li></ul><ul><li>Program Selection: </li></ul><ul><ul><li>Select 15-20 Fellows via interview, essay, and case study process </li></ul></ul><ul><ul><li>Represent a wide range of MBA concentrations and interests </li></ul></ul><ul><li>Educational Experience: </li></ul><ul><ul><li>Work 10-12 hours per week with VC professionals and entrepreneurs </li></ul></ul><ul><ul><li>Learn via curriculum taught by experts in various VC-related fields </li></ul></ul><ul><ul><ul><li>Venture Capitalists, Entrepreneurs, and Professors </li></ul></ul></ul><ul><ul><li>Represent UT in Venture Capital Investment Competition </li></ul></ul><ul><li>Benefits: </li></ul><ul><ul><li>Unique access to and experience in a challenging industry </li></ul></ul><ul><ul><li>Add significant value for local VC Firms and start-up companies </li></ul></ul><ul><ul><li>Establish a strong network of professionals and classmates </li></ul></ul>
  5. 5. Venture Fellows – Advisory Committee <ul><li>Jim Nolen </li></ul><ul><li>Faculty Advisor </li></ul><ul><li>Rob Adams </li></ul><ul><li>Director, MOOT Corp Program </li></ul><ul><li>Isaac Barchas </li></ul><ul><li>Director, Austin Technology Incubator </li></ul><ul><li>Keith Brown </li></ul><ul><li>Director, Hicks, Muse, Tate and Furst Center for Private Equity Finance </li></ul><ul><li>Jay Campion </li></ul><ul><li>Managing Director, Access Venture Partners </li></ul><ul><li>Charley Dean </li></ul><ul><li>Principal, Silverton Partners </li></ul><ul><li>Chris Eckerman </li></ul><ul><li>Sr. Associate, Hunt Ventures </li></ul><ul><li>Rudy Garza </li></ul><ul><li>Managing Director, G-51 Capital </li></ul><ul><li>David Lee </li></ul><ul><li>Managing Director, Sentient Ventures </li></ul>
  6. 6. Venture Fellows - Curriculum <ul><li>The Venture Fellows curriculum is structured to educate members through the lifecycle of the investment process. Representative first semester topics include: </li></ul><ul><ul><li>Private Equity Fund Structures, Operations, and Incentives </li></ul></ul><ul><ul><li>Angel Investing </li></ul></ul><ul><ul><li>Determining Resource Requirements for the Entrepreneur </li></ul></ul><ul><ul><li>VC Financial Modeling – Capitalization and Follow On Rounds </li></ul></ul><ul><ul><li>The Role of the Principal at a Venture Capital Firm </li></ul></ul><ul><ul><li>Venture Capital from the Entrepreneur's Perspective </li></ul></ul><ul><ul><li>Key Terms for VC Investing </li></ul></ul><ul><ul><li>Mock Term Sheet Negotiation </li></ul></ul><ul><ul><li>Working with Portfolio Companies in VC Investing </li></ul></ul><ul><ul><li>VC Investment Decisions and Structuring of Financing Rounds </li></ul></ul>
  7. 7. Venture Fellows – Internship Placement <ul><li>Venture Fellows are matched with partner firms based on a mutual fit for the firm and the individual. We place Fellows at firms that operate at all stages of the lifecycle: </li></ul><ul><ul><li>Incubation (2 positions) </li></ul></ul><ul><ul><li>Seed Stage (5-6 positions) </li></ul></ul><ul><ul><li>Growth Stage (9-10 positions) </li></ul></ul><ul><ul><li>Other Private Equity (1-2 positions) </li></ul></ul>
  8. 8. Venture Fellows – Partner Firms
  9. 9. Venture Fellows – Success Stories <ul><li>Some of the value added activities that our Fellows have performed over past few semesters: </li></ul><ul><ul><li>Developed fund returns model for startup fund </li></ul></ul><ul><ul><li>Performed all initial screen on new deals and made investment recommendations </li></ul></ul><ul><ul><li>Performed market research and market validation studies </li></ul></ul><ul><ul><li>Provided marketing and growth consulting for portfolio companies </li></ul></ul><ul><ul><li>Prepared auditable financial statements for a portfolio company </li></ul></ul><ul><ul><li>Assisted with the writing of an SBIR Grant </li></ul></ul><ul><ul><li>Research for content and assist with writing of public placement memorandums </li></ul></ul><ul><ul><li>Assisted with presentation development of new fund </li></ul></ul><ul><ul><li>Assisted a portfolio company with developing an M&A package to facilitate an acquisition </li></ul></ul><ul><ul><li>Developed an incentives model for accelerating the time to market of critical government related technologies </li></ul></ul>
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