Valuation of Early-stage and Growth Companies

Registration & Welcome coffee

Welcome and Introductions

Introduction : Why to focus on early-stage / growth company valuation?

• From whaling agent "niche" market to venture capital "business as usual"
  

• About the valuation of something that does not exist... yet

• Valuation from the standpoint of a director

What is an early stage company? What is a growth company?

• Is it only about size?

• Milestones analysis

• Cash flow statement analysis

• Lifecyle and development stages of companies

• The only fact is that most of the value lies in the future

Valuation principles

• In theory, identical to mature companies

• But most traditional assumptions will break up !

• Milestone / Gap analysis

Coffee break

Business valuation

• Venture Capital Method

• Backsolve Method

• DCF Method and probability-weighted scenarios

• Asset Accumulation Method

• Market multiples (if applicable)

Valuation of financial instruments

• From Entreprise Value to the value of your investement
  

• Classes of shares
  

• Debt Securities

Wrap up

• Key takeaways 

• Q & A

 Closing of the course