Entrepreneurs need to put a value on their start-ups in order to raise money, and investors need to put a value on their investments to ensure an adequate return on investment. No negotiating item between entrepreneur and investor creates a wider gulf than this one. The two parties may agree on every other point but will have diametrically opposing views on what the start-up is worth and how much equity the investor should receive in exchange for his capital.
Valuation is challenging for a start-up. Since young businesses take time to become profitable, the trick of valuing start-ups is to focus on the future. If you want your start-up to be a masterpiece, you’ll need to use the right side of your brain as much as your left to determine value.
Is business valuation art or science? Is it possible to place a credible valuation on a Start-up? What is Pre-money valuation? What is Post-money valuation? How much your company worth? Are you really worth anything until you’re profitable? How to value your start-up for a VC? What are the Start-up valuation methods?
How do you value a pre-revenue startup?
This is an introduction to some of the methods that are typically used to value a startup, detailing what is important to establish before carrying out a valuation and how it relates to the chosen fundraising strategy and your local market.
Entrepreneurs need to put a value on their start-ups in order to raise money, and investors need to put a value on their investments to ensure an adequate return on investment. No negotiating item between entrepreneur and investor creates a wider gulf than this one. The two parties may agree on every other point but will have diametrically opposing views on what the start-up is worth and how much equity the investor should receive in exchange for his capital.
Valuation is challenging for a start-up. Since young businesses take time to become profitable, the trick of valuing start-ups is to focus on the future. If you want your start-up to be a masterpiece, you’ll need to use the right side of your brain as much as your left to determine value.
Is business valuation art or science? Is it possible to place a credible valuation on a Start-up? What is Pre-money valuation? What is Post-money valuation? How much your company worth? Are you really worth anything until you’re profitable? How to value your start-up for a VC? What are the Start-up valuation methods?
How do you value a pre-revenue startup?
This is an introduction to some of the methods that are typically used to value a startup, detailing what is important to establish before carrying out a valuation and how it relates to the chosen fundraising strategy and your local market.
Quantopian is Launching a Crowd-sourced Hedge Fundkelmstrom
Crowd-sourcing opens a fire hose of ideas.
Diversity of ideas will result in a diversified hedge fund portfolio.
Quantopian has unique access to tens of thousands of quants which allows for idea generation at an unprecedented scale.
Quantopian provides a platform for you to build, test, and execute trading algorithms. Live trading algorithms can become part of our crowd-sourced hedge fund where top quant talent is matched with outside investor capital.
https://www.quantopian.com/home
Are you ready to make that leap from bootstrapping to investment capital? If you're ready to accelerate the growth of your startup, check out this presentation from Kristine Di Bacco, Associate with Fenwick and West, LLP (www.fenwick.com) and Sirk Roh, COO for Early Growth Financial Services (www.earlygrowthfinancialservices.com), which covers how to take your startup to the next level of financing -- including an in-depth look at convertible promissory notes and term sheets.
The Science and Art of Startup Valuations - Anjana VivekTiE Bangalore
TiE Masterclass: Valuation for Startups
This 3 part workshop conducted by Anjana Vivek, Founder Director of Venture Bean Consulting, Parag Dhol, MD, Inventus Capital Partners & Pavan Sondur, CEO & Cofounder, UNBXD
Entrepreneurs and investors must both understand the critical aspects of valuation for pre-revenue
and startup entrepreneurial ventures. By aligning expectations, such understanding fosters positive,
productive relationships between funders and founders. In addition, investors and entrepreneurs
benefit separately when they know the answers to essential questions. What are the most important
factors angel investors should consider in determining a company’s value? How can entrepreneurs
better present their companies to attract early-stage investors and build effective relationships?
“Investment Valuations of Seed- (Startup) and Early-Stage Ventures” by Luis Villalobos, founder of Tech
Coast Angels, defines perspectives from which investors and entrepreneurs view valuation and provides
insights that can reduce the natural contentiousness of negotiating valuation.
CreativeCap Advisors is a marketing and investor relations consultancy with extensive knowledge and expertise on the investment management industry. The firm works extensively with newly launched funds to more established managers in helping to solidify their market position and attract new capital. The breadth of service offerings is a testament to the firm’s 360° approach to marketing and investor relations. It is complimented by a dedicated team who are focused on bringing their clients’ business to the next level. The firm takes a holistic approach to reviewing each business and generates a cohesive strategy tailored to each specific client. Through our affiliate networks around the world, the firm excels at elevating and positioning each fund in becoming the most attractive to varying types of capital. CreativeCap Advisors at the core is a business designed to assist and integrate with investment management firms by working alongside C-level executives who are seeking to further expand their business.
Contact For More Information: Tyra Jeffries, Founder + CEO | tyra.jeffries@creativecapadvisors.com
This presentation on Valuation of Early Stage Companies was Presented at Maple Leaf Angels Lunch and Learn Series. The Shamrock method of Valuation created by the Author was introduced at this presentation.
Know Your Valuation for Equity Compensation (And Avoid the Perils of 409A)The Capital Network
If you are a CEO or a CFO of a high growth startup, it is vital to understand how to value your company correctly.
Here is a quick list of questions this lunch will help you answer:
Do you offer or are you planning to offer your employees stock options? Do you know the difference between ISOs and non-ISOs? Do you understand the general valuation concepts and approaches that the IRS has outlined, especially as they apply to early-stage companies? Did you know that if you run afoul of the 409A rules, your employees could have an unpleasant tax surprise and that some of that responsibility could revert back to you as the employer? Do you know if and when you need to engage an outside expert to assist with a valuation?
This is a limited seat lunch to teach issues of valuation for equity compensation and ask specific questions about your company.
Experts:
– Alicia Amaral, Scalar Analytics
– Scott Goodwin, Wolf & Company
How much is your start-up worth? How much capital can you raise? How much equity will you have to give up? What will investor be looking at? What is too little? What is too much?
5 slides, quick and dirty job, far from perfect, but a good starting point.
FEEDBACK WELCOME
Quantopian is Launching a Crowd-sourced Hedge Fundkelmstrom
Crowd-sourcing opens a fire hose of ideas.
Diversity of ideas will result in a diversified hedge fund portfolio.
Quantopian has unique access to tens of thousands of quants which allows for idea generation at an unprecedented scale.
Quantopian provides a platform for you to build, test, and execute trading algorithms. Live trading algorithms can become part of our crowd-sourced hedge fund where top quant talent is matched with outside investor capital.
https://www.quantopian.com/home
Are you ready to make that leap from bootstrapping to investment capital? If you're ready to accelerate the growth of your startup, check out this presentation from Kristine Di Bacco, Associate with Fenwick and West, LLP (www.fenwick.com) and Sirk Roh, COO for Early Growth Financial Services (www.earlygrowthfinancialservices.com), which covers how to take your startup to the next level of financing -- including an in-depth look at convertible promissory notes and term sheets.
The Science and Art of Startup Valuations - Anjana VivekTiE Bangalore
TiE Masterclass: Valuation for Startups
This 3 part workshop conducted by Anjana Vivek, Founder Director of Venture Bean Consulting, Parag Dhol, MD, Inventus Capital Partners & Pavan Sondur, CEO & Cofounder, UNBXD
Entrepreneurs and investors must both understand the critical aspects of valuation for pre-revenue
and startup entrepreneurial ventures. By aligning expectations, such understanding fosters positive,
productive relationships between funders and founders. In addition, investors and entrepreneurs
benefit separately when they know the answers to essential questions. What are the most important
factors angel investors should consider in determining a company’s value? How can entrepreneurs
better present their companies to attract early-stage investors and build effective relationships?
“Investment Valuations of Seed- (Startup) and Early-Stage Ventures” by Luis Villalobos, founder of Tech
Coast Angels, defines perspectives from which investors and entrepreneurs view valuation and provides
insights that can reduce the natural contentiousness of negotiating valuation.
CreativeCap Advisors is a marketing and investor relations consultancy with extensive knowledge and expertise on the investment management industry. The firm works extensively with newly launched funds to more established managers in helping to solidify their market position and attract new capital. The breadth of service offerings is a testament to the firm’s 360° approach to marketing and investor relations. It is complimented by a dedicated team who are focused on bringing their clients’ business to the next level. The firm takes a holistic approach to reviewing each business and generates a cohesive strategy tailored to each specific client. Through our affiliate networks around the world, the firm excels at elevating and positioning each fund in becoming the most attractive to varying types of capital. CreativeCap Advisors at the core is a business designed to assist and integrate with investment management firms by working alongside C-level executives who are seeking to further expand their business.
Contact For More Information: Tyra Jeffries, Founder + CEO | tyra.jeffries@creativecapadvisors.com
This presentation on Valuation of Early Stage Companies was Presented at Maple Leaf Angels Lunch and Learn Series. The Shamrock method of Valuation created by the Author was introduced at this presentation.
Know Your Valuation for Equity Compensation (And Avoid the Perils of 409A)The Capital Network
If you are a CEO or a CFO of a high growth startup, it is vital to understand how to value your company correctly.
Here is a quick list of questions this lunch will help you answer:
Do you offer or are you planning to offer your employees stock options? Do you know the difference between ISOs and non-ISOs? Do you understand the general valuation concepts and approaches that the IRS has outlined, especially as they apply to early-stage companies? Did you know that if you run afoul of the 409A rules, your employees could have an unpleasant tax surprise and that some of that responsibility could revert back to you as the employer? Do you know if and when you need to engage an outside expert to assist with a valuation?
This is a limited seat lunch to teach issues of valuation for equity compensation and ask specific questions about your company.
Experts:
– Alicia Amaral, Scalar Analytics
– Scott Goodwin, Wolf & Company
How much is your start-up worth? How much capital can you raise? How much equity will you have to give up? What will investor be looking at? What is too little? What is too much?
5 slides, quick and dirty job, far from perfect, but a good starting point.
FEEDBACK WELCOME
Gave a talk at StartCon about the future of Growth. I touch on viral marketing / referral marketing, fake news and social media, and marketplaces. Finally, the slides go through future technology platforms and how things might evolve there.
The Six Highest Performing B2B Blog Post FormatsBarry Feldman
If your B2B blogging goals include earning social media shares and backlinks to boost your search rankings, this infographic lists the size best approaches.
Each technological age has been marked by a shift in how the industrial platform enables companies to rethink their business processes and create wealth. In the talk I argue that we are limiting our view of what this next industrial/digital age can offer because of how we read, measure and through that perceive the world (how we cherry pick data). Companies are locked in metrics and quantitative measures, data that can fit into a spreadsheet. And by that they see the digital transformation merely as an efficiency tool to the fossil fuel age. But we need to stretch further…
32 Ways a Digital Marketing Consultant Can Help Grow Your BusinessBarry Feldman
How can a digital marketing consultant help your business? In this resource we'll count the ways. 24 additional marketing resources are bundled for free.
The Warren Buffet Way
This presentation, created by MAQ AGAPITO, CRISTINA BONGHANOY, MELISSA SUE BUETA, SARAH LOPEZ, and GEM GALUPAR from the Financial Management class at the Ateneo Graduate School of Business, focuses on the key principles and strategies outlined in "The Warren Buffett Way" book. It highlights Warren Buffett's investment philosophy, which emphasizes value investing and the importance of patience and discipline in the investment process. The presentation also explores how these strategies can be applied in the Philippine market, providing a local case study and examples to show how these principles can be adapted and applied successfully by Filipino investors. This collaborative effort aims to bridge the gap between global investment strategies and local market dynamics, offering valuable insights for both aspiring and seasoned investors in the Philippines.
TSFINMAN R12
Ateneo Graduate School of Business
Through examining their nature and mechanisms, identifying their spin-offs and analyzing their performance, this presentation is designed to discuss what to look out for when conduct due diligence on different hedge fund strategies.
The following eBook’s purpose is to outline all the necessary fundament skills needed to understand the capital markets in a trading context. The three-part guide will walk you through the markets, trading concepts, and technical analysis and trading strategies. Produced after hours of research and planning by current and former professionals in the trading industry, you will become familiar with applicable knowledge that will allow you to be competitive in today’s markets.
Aikido Masterclass - Starting Your Algorithmic Investing Journey.pdfJamesForsyth21
A deep dive into quantitative investing.
- What is quantitative investing?
- Exploring factor investing? (what are they?)
- Types of quantitative strategies?
- Managing Risk
- Live demo: start quant investing with Aikido Finance.
Sociology in Motion_ Interactive Exploration of Society's Dynamics and Patter...Do My Assignment
Envision traveling this route with a trustworthy guide by your side. Now let's examine the domain of portfolio management. Additionally, discover how using assignment help services may aid in understanding and managing investment portfolios.
2. Service Offering
Ongoing HF research, screening and ranking
Specific searches & benchmarking
Operational and investment due diligence
HF portfolio selection & construction
3. Rene Levesque
Proprietary equity derivatives trader, compliance
officer, middle office, risk manager and operations
Buy side and sell side experience
Over 4300 hedge funds interviewed and evaluated since
2004 (over 2000 under the Mountjoy Banner)
1-person HF research team at 2.4B FoHF covering all
styles and geographies
Strategic interviewing training by former CIA
operatives
4. WARNING !!!
Not all hedge funds
deploy absolute return strategies.
…and for as long as you (or your consultant) fails to
recognize this, you shall continue to subsidize and
provide a living to those who will ultimately fail you
when a real hedge fund strategy is needed the most.
5. False Perceptions
Not Key Ingredients to Absolute Returns:
Long and short positions (Jones Model)
Paired positions
Market neutrality
Targeted volatility levels
Portfolio diversification
…but perhaps key to reducing volatility of returns.
6. False Perceptions
Not Key Ingredients to Absolute Returns:
Deep due diligence or “private equity” style
research
Catalyst-driven investing
Buying on dips and selling on strength
Distinguishing Alpha from Beta
…but perhaps key to outperform reference benchmark.
7. Key To Absolute Returns
Dynamic allocation of risk to ideas currently receptive
to the market
Discipline in liquidating those that are no longer
receptive to the market
Portfolio construct:
Net: Aligned/biased to prevailing overall tend/sentiment
Gross: Sized to prevailing volatility regime
8. Sources & Origin of Absolute
Return Strategies
Disintermediation from bank’s proprietary desk
Hedge Fund Manager = Analyst + PM + RM + Trader +
Entrepreneur + Business Manager
“Back Down The New Haven Line” article
9. What is an Absolute Return Strategy?
More “trading-oriented” than an investment
strategy
“The market is a collective perception of reality. It will
prove you right or wrong, not the truth !!”
Trading = disciplined and dynamic calibration of
risk exposures
10. Key Elements of Absolute Returns
Liquidity
Effectively navigate between perception and reality
Nimble/Trading style
Disciplined & Humble
11. Portfolio Inclusion and Sizing
Investment
Index constituent & idea generation
Valuation gap and conviction
Absolute Return
Idea generation
Market receptivity/acknowledgment
Loss tolerance/discipline
12. Portfolio Construction
Investment
Breadth of idea generation
Underlying valuation gap and conviction
Investment policy
Absolute return
Net: prevailing market direction and sentiment
Gross: volatility regime
13. Valuation Gap & Conviction
I like the stock at 100
I like it more at 90
I love it at 80
I “blow-up” at 40 !!!
14. Best Strategies for Absolute Return
Discretionary Global Macro
Actively Traded Equity Long Short
Systematic Global Macro