Course Details in 2022/23 Session

Module Title	LM Private Equity and Venture Finance
School	Birmingham Business School
Department	Finance
Module Code	07 36343
Module Lead	Abhinav Goyal
Level	Masters Level
Credits	20
Semester	Semester 2
Pre-requisites
Co-requisites
Restrictions	None
Contact Hours	Lecture-30 hours Seminar-10 hours Guided independent study-160 hours Total: 200 hours
Exclusions
Description	The objective of this module is to provide students with an understanding of the nature of private equity market, the main participants in the market and the financial strategies employed by private equity firms. The module covers all steps in private equity cycle, including fundraising, investment and exit for both early stage (venture capital) and later stage financing (buyouts). The first half of this module deals with institutional background of new venture financing, raising and structuring of private equity funds, deal structuring, contracting and value creation in private equity transactions. The second half covers aspects of valuation in private equity deals, performance of private equity funds and alternative exit strategies employed by private equity firms with a particular focus on initial public offerings and the post-exit performance of private equity backed companies. Throughout, this module also pays significant attention to the role of theories and industry practices, in promoting ethical and sustainable businesses practices.
Learning Outcomes	By the end of the module students should be able to: Identify the sources of new venture finance and critically evaluate the role of venture capital for early stage start-ups; Appreciate institutional differences in raising and structuring private equity funds and challenges faced by the private equity industry; Demonstrate awareness of initiation and structuring of private equity deals and contracting issues; Apply various valuation techniques in venture capital and buyout transactions; Critically evaluate alternative exit strategies and understand the initial public offering process; Critically evaluate the short- and long-term performance of venture capital backed companies and buyouts; and Critically evaluate the role of private equity and venture finance firms in promoting ethical and sustainable businesses practices.
Assessment	36343-01 : Video Presentation : Coursework (30%) 36343-02 : Individual Assignment : Coursework (70%)
Assessment Methods & Exceptions	Main assessment: 12 minute group video (30%) & 3,000 word individual assignment (70%). Reassessment: Students who fail the module resit the failed component(s) only. 5 minute individual video (30%) & 3,000 word individual assignment (70%)
Other
Reading List