Funds cup table exits
1. Defin" rel="nofollow">ine the two types of ways that VC Firms make money
a. Management Fees
b. Carried Interest
2. Which should generally be larger, management fees or carried in" rel="nofollow">interest?
3. If a $100M fund is successful, and returns 4x the capital, or $400M, how much goes to the LPs in" rel="nofollow">in total? How much to the GPs/VCs in" rel="nofollow">in total? Assume standard carried in" rel="nofollow">interest. Show your
work.
4. What tool is used to summarize who owns what part of the company before and after fin" rel="nofollow">inancin" rel="nofollow">ing.
5. Which has more rights, common stock or preferred stock?
6. If your pre-money valuation is $10M, and an in" rel="nofollow">investor makes a $2M in" rel="nofollow">investment, what is the post-money valuation? What percentage does the in" rel="nofollow">investor own?
7. Are the majority of acquisitions paid by stock, cash and stock, or all stock?
8. Short paragraph: What are the issues around bein" rel="nofollow">ing paid by stock vs cash and stock vs all stock.
9. What is the purpose of escrow payouts in" rel="nofollow">in an acquisition?
10. List three reasons that capitalization tables are important.