Бакалавриат 2019/2020

Частный и венчурный капитал

Статус: Курс по выбору (Экономика и статистика)

Направление: 38.03.01. Экономика

Кто читает: Департамент статистики и анализа данных

Где читается: Факультет экономических наук

Когда читается: 4-й курс, 3 модуль

Формат изучения: с онлайн-курсом

Язык: английский

Кредиты: 2

Контактные часы: 2

Course Syllabus

Abstract

The course tries to discover how special financial intermediaries (called private equity investors) finance through equity companies belonging to different stages of their life-cycle, starting from the very beginning (startup and early stage) to a more mature phase (i.e. expansion, mature age, etc.) or also staying into crises and decline.

Learning Objectives

• Over the course, students will be provided with a deep understanding of the mechanism underpinning the creation and/or development of a firm and the financial support it can get from the financial system through venture capital investment.

Expected Learning Outcomes

• Student knows types of financing
• Student calculats returns
• Student knows the managerial process for equity funds.
• Student apply company valuation to venture capital and private equity settings.

Course Contents

• An Introduction to Private Equity and Venture Capital
  What Is Private Equity and Venture Capital? Why Companies Need Private Equity and Venture Capital. Private Equity Clusters: Through the Fund's Life Cycle. Seed, Startup, and Early Stage Financing. Expansion Financing. Replacement Financing. Vulture Financing. Private Equity and Venture Capital: Today and Tomorrow.
• Discovering Private Equity Investors: Legal Issues and Taxation
  Private Equity Investors: The Map to Investigate. Closed-End Funds in Europe: An Overview. Closed-End Funds in Europe: Lifetime of a Fund. Management Fees and Carried Interest. Investment Firms and Banks in Europe. Limited Partnerships in the US. The SBIC Experience in the US. Funds and VCTs in the UK. Taxation around the World. New Solutions: SPACs, Private Debt Funds, Venture Philanthropy, and Crowd Funding. Calculating Returns.
• The Management Of Private Equity And Venture Capital Funds
  The Managerial Process for Equity Funds. Fundraising. Investing: The Decision Making Phase. Investing: The Deal Making Phase. Managing and Monitoring.
• Company Valuation And Deal Making In Private Equity Settings
  Company Valuation. Applying Company Valuation to PE and VC Settings.

Assessment Elements

• Оценка выполненных заданий при прохождении онлайн курса по теме 1
• Оценка выполненных заданий при прохождении онлайн курса по теме 2
• Оценка выполненных заданий при прохождении онлайн курса по теме 3
• Оценка выполненных заданий при прохождении онлайн курса по теме 4
• Final assessment

Interim Assessment

• Interim assessment (3 module)
  0.2 * Final assessment + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 1 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 2 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 3 + 0.2 * Оценка выполненных заданий при прохождении онлайн курса по теме 4

Bibliography

Recommended Core Bibliography

• Caselli, S. (2009). Private Equity and Venture Capital in Europe. Elsevier. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.eee.monogr.9780123750266

Recommended Additional Bibliography

• Garry D. Bruton, Igor Filatotchev, Salim Chahine, & Mike Wright. (2010). Governance, ownership structure and performance of IPO firms: The impact of different types of private equity investors and institutional environments. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.E1C7EA31