Course Detail

Entrepreneurial Finance and Private Equity (34101)

Course Description by Faculty

  • Zwick, Eric
  • Content
    This course uses the case method to study entrepreneurial finance and private equity, including angel and venture capital, growth equity, and buyouts. The course is motivated by growth in private capital markets and in the perceived importance of high growth entrepreneurial projects.

    The primary goal of the course is to familiarize students with the financial and organizational challenges typical of start-up and growing private companies and to provide an understanding of the concepts and institutions involved in private capital markets. To do this, the course is broad and comprehensive. The course will appeal to students who want to start and manage their own business, who want to work in a start-up, or who want to work in a venture capital or private equity organization.

    The course primarily considers the financial economics of entrepreneurial settings, but discussions will also integrate issues from micro and macroeconomics, strategy, organization, and control. We explore the questions raised from many perspectives, often contrasting the positions of entrepreneurs, issuers, and targets with those of managing and limited partners. Issues covered include deal structure, incentive design, valuation of high risk projects, financial management in rapidly growing firms, initial public offerings, mergers and acquisitions, and capital restructuring. Among capital suppliers we consider informal risk capital, commercial banks, angel investors, venture capital firms, and investment banks.

  • Prerequisites
    Business 33001 (or 33002), 35000 (or 35901), and 35200: strict. Business 30130 would be helpful.
  • Materials
    We will use journal articles, some lectures, and visiting speakers to supplement and enhance the case discussions. All required cases and supplementary readings will be in the course Canvas site.
  • Grades
    For each class meeting, study questions will be assigned concerning one or two case studies. We will discuss these questions and the material in the cases for most of the class period. Each student will be required to submit a 1-2 page memorandum of analysis and recommendations before each class. Group work is encouraged, but not required, on these short memoranda. Memoranda with up to three names on them are acceptable. No pass/fail grades.
    • Allow Provisional Grades (For joint degree and non-Booth students only)

    • No pass/fail grades

  • Syllabus
  • Spring 2023Section: 34101-01M 1:30PM-4:30PMHarper CenterC10In-Person Only
  • Spring 2023Section: 34101-81M 6:00PM-9:00PMLocation: TBDRemote-Only
Description and/or course criteria last updated: March 27 2023