EntrepreneurshipFinance

Korzan Systems: Evaluating Venture Capital Investments

Katie had been working on the deal team at Forward Partners for little over three months. In her role as investor, she was granted a huge amount of autonomy sourcing and executing deals from day one. Forward Partners is a London-based venture capital firm making its primary investments across the pre-Series A spectrum, from solo-founders to late-seed. Being on their deal team required aptitude on a number of axes. VCs have little information to analyse – which can be uncomfortable – and there was a certain amount of skill required in getting to the right reasons to say ‘yes’ to a deal. Katie had identified a potential target in the nascent ‘modelling and simulation as a service’ (MSaaS) space, where Korzan Systems was at the cutting edge. Despite the limited information available, ahead of her next meeting with the partners, Katie was required to research the market and develop her own thesis on Korzan as a potential investment by preparing a memo that could offer a balanced assessment on the opportunity with relatively little information to go on. During the next partners meeting, she would need to be ready to present her thoughts, analysis and findings on whether this was a go or no-go investment.

Topics/Industry: financial modellingSaaSvaluationsventure capital

Publication date: 25/06/2017

Published by: Imperial Enterprise Lab

Authors: Chris Corbishley, Matthew Bradley

Length: 14 pages

Teaching notes: Available

Geography: UK

Supplementary materials: Pdf, Excel Spreadsheet

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