Case Questions are provided to guide your reading of the case studies listed below.
| SES # | TOPICS | READINGS |
|---|---|---|
| 1 | Introduction and overview of entrepreneurial finance | Fenn, George W., Nellie Liang, and Stephen Prowse. "The Economics of the Private Equity Market." Board of Governors of the Federal Reserve System, December 1995. |
| 2 | DermaCare | Hamermesh, Prichard G., and Lauren Barley. "DermaCare: Zapping Zits Directly." Harvard Business School Case. Harvard Business School Publishing. Case: 9-808-064, Rev. October 21, 2010. |
| Business Valuation | ||
| 3 | Discounted cash flow (DCF) and the venture capital method | Kaplan, Steven N., and Antoinette Schoar. "Private Equity Performance: Returns, Persistence, and Capital Flows." Journal of Finance 60, no. 4 (2005): 1791-1823. |
| 4 | Netflix | Mayfield, E. Scott. "NetFlix.com, Inc." Harvard Business School Case. Harvard Business School Publishing. Case: 9-201-037, Rev. March 24, 2003. |
| 5 | Real option valuation | |
| 6 | Real option valuation (cont.) | |
| Deal Structure | ||
| 7 | Genzyme/Geltex | Jacquet, Pierre, Robert Bruner, and Samuel E. Bodily. "Genzyme/Geltex Pharmaceuticals Joint Ventures." Darden Business School Case. Darden Business Publishing. Case: UVA-F-1254, 1999. |
| 8 | Deal structure | |
| 9 | Walnut Venture Associates (A) and (D) |
Roberts, Michael J. "Walnut Venture Associates (A): RBS Group Investment Memorandum." Harvard Business School Case. Harvard Business School Publishing. Case: 9-899-062, Rev. December 7, 1998. Roberts, Michael J. "Walnut Venture Associates (D): RBS Deal Terms." Harvard Business School Case. Harvard Business School Publishing. Case: 9-899-097. Rev. November 19, 1998. |
| 10 | Deal structure (cont.) | |
| 11 | Guest: John H. Chory (Partner, WilmerHale Venture Group) | |
| 12 | Metapath | Hardymon, Felda, and Bill Wasik. "Metapath Software: September 1997." Harvard Business School Case. Harvard Business School Publishing. Case: 9-899-160, Rev. November 30, 1999. |
| Team Sheet Negotiation | ||
| 13 | BNI Video Guests: Conrad Clemson (Founder and CEO, BNI Video) and Carl Stjernfeldt (General Partner, Castile Ventures) | |
| 14 | BNI Video Guest: Carl Stjernfeldt (General Partner, Castile Ventures) | |
| Venture Capital Funds | ||
| 15 | Guest: Dr. William Janeway (Senior Advisor, Warburg Pincus) | |
| 16 | Portfolio and partnership Guest: Carl Stjernfeldt (General Partner, Castile Ventures) | Hardymon, Felda, and Ann Leamon. "Portfolio & Partnership." Harvard Business School Case. Harvard Business School Publishing. Case: 9-806-036, October 5, 2005. Lerner, Josh, Antoinette Schoar, and Wan Wong. "Smart Institutions, Foolish Choices?: The Limited Partner Performance Puzzle." Journal of Finance 62, no. 2 (2007): 731-764. |
| 17 | VC Vignettes Guest: Carl Stjernfeldt (General Partner, Castile Ventures) |
VC Vignette: Secursiv Networks (PDF) (Courtesy of Carl Stjernfeldt. Used with permission.) Glynn Jr., John W., and Christopher S. Flanagan. "VC Vignettes." Stanford Graduate School of Business Case. Harvard Business School Publishing. Case: E93, June 21, 2001. |
| 18 | Grove Street Advisors - September 2009 Guest: Christopher E. Yang (General Partner, Grove Street Advisors) | Rhodes-Kropf, Matthew, and Ann Leamon. "Grove Street Advisors: September 2009." Harvard Business School Case. Harvard Business School Publishing. Case: N1-810-064, October 29, 2009. Kaplan, Steven N., Naveen Baweja, and Atinder Singh. "IDFC Private Equity and GMR Energy Limited – 2003." University of Chicago Graduate School of Business, 2007. |
| 19 | Forte Ventures | Hedberg, Carl, and Jeffry Timmons. "Forte Ventures." Babson Arthur M. Blank Center for Entrepreneurship, October 1, 2004. |
| Exit | ||
| 20 | Initial public offering (IPO) Guest: Michael Szeto (Managing Director of Private Equity, WR Hambrecht) | |
| 21 | Grand Junction Guest: Michael Szeto (Managing Director of Private Equity, WR Hambrecht) | Mansour, Nick, and H. Irving Grousbeck. "Grand Junction." Graduate School of Business, Stanford University. Case: S-SB-186, September 5, 1997. |
| 22 | Blackstone | Hardymon, Felda, Josh Lerner, and Ann Leamon. "The Blackstone Group's IPO." Harvard Business School Case. Harvard Business School Publishing. Case: 9-808-100, Rev. May 13, 2008. |
| 23 | Final review | |