Course Descriptions

Course catalog descriptions for courses offered in all currently published terms.

Entrepreneurial Studies

ES 623 Venture Capital Finance
  2.25 hours Elective Terms Offered: F15(A), F16(A)
  Cross-listed with: FIN 623 


This course is open to Ross School of Business graduate students and all University of Michigan graduate students. It covers venture capital market structure and institutional arrangements and the application of financial theory and methods in a venture capital finance setting.  It presents and applies the fundamentals of venture capital finance, employing "live" case studies to focus on financing startup and early stage, technology-based firms.


The course covers four main aspects of venture capital:

1       Valuation

2       Deal structuring

3       Governance

4       Harvesting. 


The case method is used to demonstrate the practical, hands-on application of techniques following their development in class.  Current "market" venture capital deal terms and principles of their understanding, as well as a number of state-of-art financing techniques are covered in the course to give students a strong understanding of a VC deal flow from both sides – investor’s and entrepreneur’s. For prerequisite requirements, please contact the instructor.