PRIVATE EQUITY AND VENTURE CAPITAL

Course introduction and kick-off

Stefano Caselli
Five topics to start and to know each other

1. The course, its positioning and, your reward

2. Content and syllabus

3. Teaching strategy

4. Rules of the game

5. The team
1. The course, its positioning and, your reward

• A trade-off between a theoretical and an applied approach

• Our choice to be applied and its meaning (i.e., to speak the

language of practitioners and to deal the key tools of
PEVC)

• The reward: to be ready to face a successful interview vis-à-

vis PEVC/investment banking teams, consulting/advisory
companies dealing with private equity business overall. A
for start-uppers as well…
2. Content and syllabus

• It is made by five building blocks revised and updated every

year thanks to your comments and valuations:

1. Private Equity and Venture Capital at a glance (i.e.,

definition, fundamentals and key taxonomy)
2. Legal Entities (i.e., private equity vehicles and taxation)
3. Management of PEVC funds (i.e., managerial process and
valuation)
4. Understanding venture capital investments (deal making)
5. Understanding private equity investments (deal making)
3. Teaching strategy

• The key items on blackboard:

1. To attend the class is the mantra (no attendance control)

2. Session by session: compulsory readings and additional
readings; exercises and software; mock exam
3. The book: “Private Equity and Venture Capital in
Europe”, 3rd edition, Elsevier Academic Press, 2021

• …and what we will do together and you will do together

• …and you are free to choose the attending mode (31-32)
or non attending mode (33)
4. Rules of the game (1/2)

• The valuation is based on a 35%-30%-35% system

• The first 35% is the first mid-term exam, multiple choices
• The second 30% is a group assignment based on the first
part of the course
• The last 35% is again the second exam, multiple choices
Many mock exams will be uploaded and discussed
together)
• If you will withdraw from the exam and you will retake it,
we will always keep valid the group assignment.
• If you do not use the two exams, is possible to take a
general exam (weight 70%), multiple choices
4. Rules of the game (2/2)

The timeline
• The group assignment based on part one-two-three will
be posted on March 10, you have to upload it by April 7 at
23.59 and you will receive grades by the end of April.

Groups will be communicated on March 10, groups are made

by 5 students and you cannot swap
5. The team

The team:
• Stefano Caselli (part one, two and three)
• Laura Bottazzi (part four)
• Fabio Sattin (part five)
• Niccolò Zanchi (the TA)