2. CMF Structure
2
Financial Analysis
Founded in 2013
Fundamental
Analysis
Valuation Principles
Financial Modeling
Mathematical Finance
Founded in 2012
Econometrics
Algorithmic hedge-
fund
Risk-management
Venture Capital
Founded in 2015
New course
3. Course Overview and Our Team
• We prepare VC analysts in 3 directions
– Investment evaluation of startup industry companies
– Structuring and packaging the startups for the investor
– Simulation of the real VC Fund
3
• Instructors
– Alexey Shabarshin, Founder, Intellectual Capital
– Pavel Bartev, Director of the Department, Skolkovo
– Oleg Evseenkov, Managing Director of Finance,Rosnano
– Anton Fedorov, Investment Manager, Buran VC
– Inga Foksha, Director of the analytical department, IIDF
4. Simulation of a Real Fund Due Diligence Process
• Work in small groups
• Information memoranda preparation and evaluation of projects
based on historical cases in Russia
• Competition between and within the teams
• Top-students ranking and an offer to have an interview with the
leading Russian VC funds
• Potential participation in “live” deals based on pre-agreements with
the partnered VC funds and further internships
4
Already pre-agreed with
5. Weekly Reports
3 sub-sectors
IT
Wearable/portable devices
Special situations group
Working progress over the week and presentation on Saturday
In parallel, progress on investment memoranda and company model
5
6. Timetable
6
Date Sub-topic
14-Mar-15 Overview of VC Market / VC Fund work principles, Portfolio Manager role, the roles of the team, KPI settings
21-Mar-15 Financial modeling fundamentals, VC evaluation secrets, checking VC Fund performance
28-Mar-15 Presentation of portfolio company teams, working with a professional associate of the real Fund
04-Apr-15 Industry specific valuation metrics
11-Apr-15 Open workshop with professional legal specialist
18-Apr-15 New methods in startup valuation
25-Apr-15 /
15-May-15
Presentation of portfolio company teams , working with professional associate of the real Fund
16-May-15 Open workshop with VP of leading Russian VC Fund
23-May-15 VC Fund Results: Final Tests and interviews
Introduction Valuation of the Startup sessions
VC Fund simulations Deal Structuring in VC Market topics
