Technology Investing

Abstract

Technology has the potential to transform our society. But without the right team & funding, some break-throughs will never see the light of day. This seminar helps aspiring student/research entrepreneurs to understand how to fund their path from research into practice. The examples and cases will be primarily from software, AI, and other deep-tech ventures.

Objective

After attending this course, students will be able to: - Explain the differences between VC and founder thinking - Evaluate if a start-up is suited for venture capital (“VC readiness”) - Evaluate founder friendliness of term sheets - Determine funding needs & strategy for a start-up from research to first round - Write and evaluate an investment memo

Content

The course is practically oriented and features guest speakers from leading venture capital firms and start-ups. The course embraces a unique perspective combining technology and investor thinking. The seminar is structured around five days with the following themes. The macro picture. Why does venture capital exist? What are major tech break-through areas and their disruptive potential? We also review the differences in the US and European perspective as well as developments towards more impact and diversity conscious funds. A peek into the mind of a VC. How to build a successful VC? Learn what key factors & processes required to build a successful venture capital company. This includes strategic decisions for investment thesis, structure of a fund, portfolio economics, valuation & ownership targets, cap table. In addition, we introduce the fundamentals of the investment process (including due diligence, term sheets, and deal memo) as well as portfolio management. The founder’s perspective. Why should you raise venture capital and how? Learn to evaluate the founder friendliness of terms, company approach, strategic decisions, negotiation and valuation. Fundraising types. Learn about different types of funding and their implications. This includes an overview of the Swiss ecosystem and a discussion of the different types (grants, equity, loans, SAFE, crowd, …). We also include a practical session on crypto technology for modern fund-raising using launchpads and tokenized shares. Tying it all together. The last day is focused on simulating an investment committee meeting where the groups present their deal memos and discuss with the audience.

Resources