well....100 delegates from 35 different countries, all together in the most extraodinary university in the world. It is huge, it is beautiful, it reeks of learning and money. I will post some pics when I can upload them.
Brilliantly organised, ultra professional, and very very hard work. Days run from 7.00 in the morning and we have just finished and it is 23.00!
My osmosis strategy is working. First learning point, it is not the fund managers aim to make money but to raise the next fund. Second, the difference between a good deal and a bad deal is contextual.
I have somehow absorbed anti dilution clauses, preferential shares, liquidation preferences, option pools and pre money valuations. And I now know why a 'down round' isn't as bad as it sounds. I understand the roles of General Partners and Limited Partners and how they differ in responsibility and governence.
First lecturer of the evening was Felda Hardymon, massivly energetic and very participative approach, got everyone talking and joining in across a real range of expertise.
Hugely enjoyable and valuable talking to the others, they really are international venture capitalists, so much to learn from so many!
We played the first round of the software based investment game. Ultra complicated but very real world feeling, amazing how much can be learnt from this sort of thing.
I have been randomly allocated the role of discussion group leader for our group...perfect, watch the clock and work the flip chart and listen!
Some big case studies tomorrow.....one of which I need to read tonight.....
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