CUHK MBA – Venture Capital and Private Equity (FINA6230XA)
COURSE OBJECTIVES
The primary objective of this course is to equip students with a goodunderstanding of venture capital and private equity industry. This course gives in-depth knowledge of the structure and mechanism such as the incentive schemes and exit strategies of the industry. In addition, students will be provided withdifferent arguments about the pros and cons of involving VC financing under various conceptual frameworks and hypotheses suggested by researchers globally. The applicability of these conceptual frameworks and hypotheses in China and Hong Kong will be addressed in details.
Apart from the theories covered in the first lecture, this course highly concentrates on market practices. It emphasizes developing students with skills onproject evaluation, company valuation and investment due diligence. Techniques such as drafting a term sheet and structuring a convertible note will be discussed thoroughly. Special attention will be given to the experiences (both good and bad) in investing ventures in China. To consolidate the practical aspect of the course, guest speaker(s) in the VC/PE industry will be invited to share his/her actual experience with the class.
This course is suitable for students who have genuine interests in the industry and those who consider raising funds for their ventures from various industrial players.In addition, this course and MBAC6092XA Applied Entrepreneurship – Remodeling & Fundraising in Asia represent the ‘buy-side’ and the‘sell-side’of the game. The new MBAC6092XA will concentrate on skills & techniques for venture development and fund raising.
LEARNING OUTCOMES
After completing this course, students should have a comprehensive understanding ofinvestment criteria and the processof venture capitalists and private equity fund managers.
NUS MBA – Venture Capital (BMA5128)
OVERVIEW
Venture Capital (“VC”) invests in young and privately companies with great potential. It provides growth capitals to early stage ventures and is a vital piece in the entrepreneurship ecosystem. However, the raise of technology has given VC a new dimension in MNCs and corporations. Many corporations across different industries such as Intel, Johnson & Johnson, GIGNA, Novartis, Mitsubishi, Sumitomo, British Petroleum, Jardine Matheson, Alibaba, Saudi Aramco and Singapore Press Holding have established their own corporate VC funds. Techventure investing becomes a commonly adopted approach for MNCs to ‘manage’ technology changes.
This course gives in-depth knowledge of the structure and mechanism such as the incentive schemes and investment process of the industry. In addition, various conceptual frameworks and hypotheses suggested by researchers globally will be introduced to give students a comprehensive view on the operation of VCs. Different arguments about the pros and cons of involving VC financing will also be discussed. Various aspects related to the operation of corporate VCs will also be discussed thoroughly.
Apart from the theoretical frameworks covered in the initial lectures, this course highly concentrates on market practices. It emphasizes on developing students with skills on proposal screening, project evaluation, valuation of young ventures, investment protection and due diligence planning. Techniques such as drafting a term sheet and structuring a suitable investment instrument will be discussed thoroughly.
To consolidate the practical aspect of the course, guest speaker(s) from the VC industry will be invited to share his/her actual experiences with the class. Students also need to conduct investment analyses on existing most updated technology ventures. Special attention will be given to the experience sharing in failure technology venture investments.
MODULE OBJECTIVES
The course is designed mainly for students who have genuine interests in joining the industry, those who consider starting their own ventures with possibility of raising capital from venture capital, and business executives who face the challenge of rapid change in technology.
After completing the course, students are expected to understand
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the structure of venture capital industry
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the implications of the rapid change in technology
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the roles of venture capitalists (and corporate VCs)
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the venture investing skills: proposal screening, project evaluation, valuation of ventures, investment terms, negotiation, due diligence and investment instruments.
CUHK(SZ) – Master of Business Management
MBM – Entrepreneurial Finance & Private Equity (MBM6302)
OVERVIEW
这个有关创业融资及私募股权」的课程,是特别为了香港中文大学(深圳)管理学硕士而设计。创业金融按其性质应可分为两部分:投资及融资。为了使课程可同时兼顾这两部分, 这课程也划分为两部单元。
第一单元是主要为创业人士而设,亦即是着重于怎样为创意而「融资」。 第二部分聚焦于为对创投有兴趣的人士而设计,主要是教授「创业投资」的运作方法。 由此希望学生在课程后,对创业金融有一个全面的认识。
第一单元: 创业融资 (Fundraising for Entrepreneurial Ventures)
大多数初创企业在成立后的首三年内都犯了一些致命的错误。然而,犯错由于其商业性质使然,尤其是对于那些没有适当准备而进入市场的年轻企业家,他们通常没有意识到初创企业将所面临的限制和问题。由于本课程的讲师坚信「成功模式」是很难重复应用的,因此本课程将集中教授击倒初创企业的「失败因素」。课程内容强调商业机会执行和获得所需财务资源等几个相关的主要议题。
由于缺乏财务资源是失败的关键因素之一,而初创企业可用的财务资源亦有限,因此学生将接受专业培训,以提升他们的募资能力。因为亚洲投资界的营运方式与西方不同,特别是与美国有所差异,所以本课程将侧重于分析亚洲投资者在企业发展和投资可行性方面的评估标准。本课程涵盖有关创业投资的关键议题,尤其是详细地阐明具有创新理念和重点技术的企业。
完成本课程后,学生将会透彻了解多项重点议题,例如商业模式,执行路径和障碍,投资建议书,路演,答问技巧和与他们企业直接相关的条款清单。
第二单元: 私募股权 (创业投资) Private Equity (Venture Investing)
创业基金投资者(风险投资者,VCs)和天使投资人 (Angels) 投资潜力巨大的年轻和私营企业。 他们为早期创业提供增长资本,是创业生态系统中的重要组成部分。 然而,科技的快速变化,为创业基金投资者和天使投资人在管理投资组合带来的各种问题。
本课程深入教授创业投资行业的结构和机制次的知识,例如其激励方法和投资过程等。此外, 亦将讲解与介绍全球科技创业投资的各种概念框架,让学生全面了解创业投资基金行业的运作。 除了所涵盖的投资框架外,本课程还高度关注市场实践。 它强调培养学生在提案筛选、项目评估、初创企业估值和尽职调查规划方面的技能 。
为了巩固本课程的实践性,我们将邀请创业投资人和创业者在班上分享他/她的实战经验。 学生还需要对现有的最新初创科技企业进行投资分析,並且特别关注在科技创业投资的失败经验分享。在完成课程后,预期学生应可以理解:
- 创业基金投资产业结构
- 科技快速变化可能牵涉的影响
- 创业基金投资者和天使投资人的角色
- 创业投资技能: 提案筛选、项目评估、初创企业估值、投资保护和尽职调查