Entre VC FINA 4610 Fall 2018 Syllabus.docx - NORTHEASTERN UNIVERSITY DAmore-McKim School of Business FINA 4610 Entrepreneurial Finance Innovation

Entre VC FINA 4610 Fall 2018 Syllabus.docx - NORTHEASTERN...

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NORTHEASTERN UNIVERSITY D’Amore-McKim School of Business FINA 4610: Entrepreneurial Finance, Innovation Valuation, and Private Equity Fall, 2018 Wednesday and Friday 11:45 - 1:25, Dodge Hall 173 Mark Bernfeld Office: 414 Hayden Hall Teaching Assistant: Office hours: Wednesdays and Fridays Mary King 1:30 p.m.– 3 p.m. and on request M: (502) 693-8904 E-mail: [email protected] E-mail: [email protected] Course Objectives: This course will cover qualitative and quantitative aspects of entrepreneurial finance, such as venture capital and angel financing. The structure of the course will follow the start-up’s life cycle, with modules on valuation, raising capital, diligence, security choice, follow-on investments, and the structure and valuation of exit decisions in the presence of information uncertainty. We will take the perspective of both the entrepreneur and the potential investor, with the opportunity to analyze the role of financial contracts in addressing information and alignment problems in the uncertain environments typical of entrepreneurial firms. The course will use a combination of case discussions, guest speakers and lectures. Casework – including an actual consulting project - and our guests will emphasize the practical aspects of qualitative and quantitative issues related to venture capital financing, entrepreneurship, and innovation from the perspective of financier and the start-up firm. A final project will put students in the role of both entrepreneur and investor to provide practical experience on the financial aspects of launching a start-up. The aim of the course is to prepare students for careers connected to entrepreneurial finance, for example, as emerging entrepreneurs or as venture capitalists. Note that this syllabus is preliminary and will change as the course progresses. Prerequisites: FINA 2201, 2202, or 2209 (Financial Management), and a working knowledge of Excel or other spreadsheet programs. Required Materials: The course will be a blend of lectures, case discussions, and exercises. The articles and cases mentioned in the course schedule below can be obtained from the following: 1. Packet of cases and notes from Harvard Business Publishing (hereafter, "Course Packet"). For access to the course packet, click on the link below and follow the purchase instructions: 2. Other readings that you can download from Blackboard (linked to various topics). I may also hand out readings in class. 1
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3. Financial calculator and/or a laptop Suggested Review Books (NOT REQUIRED): 4. Andrew Metrick and Ayako Yasuda, Venture Capital and the Finance of Innovation, Second Ed. Wiley. Grading: Grading weights are approximately as follows: Case write-ups 15% Consulting project 10% Class participation/personal expression 25-30% Mid-term examination 25% Final project: 20-25% a) Startup Financing Pitch Presentation 10% b) Startup Financing Pitch Report 5-10% c) VC View on Pitches 5% General expectations: I expect every student to behave with honesty, professionalism, and respect for others.
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