EXECUTIVE EDUCATION3 days

Madrid, Spain

CapitalVenture

Venture Capital/ 2017 - 2018/ 2

/ 3

Index

IE Excellence 4

About IE 5

IE Global Presence 6

International Recognition 8

Overview 10

Who is this program for? 11

Faculty 12

Guest Speakers 14

José Miguel Herrero 14

Joe Haslam 14

Marisol Quintero 15

Details 16

Why IE Business School 18

International Executive Programs 20

Contact 22

Venture Capital/ 2017 - 2018/ 4

IE shapes leaders with a global vision, an entrepreneurial mindset and a humanistic approach. It drives innovation and change in organizations and provides a learning environment where

technologies and diversity play a key role.

An innovative and entrepreneurial

INSTITUTION

/ 5

AboutIEFocused on

academic excellence since

1973

Over

1.000executives enroll

in our Open Programs every year

60%of students receive

financial support from IE’s Financial Aid

Department

More than

500professors

from all continents

More than

150multinational

organizations attend our annual International

Careers fair

More than

60.000alumni hold

management positions in over 165 countries

More than

180student and alumni

clubs and organizations

128nationalities

are represented on campus

29international

officesaround the globe

Venture Capital/ 2017 - 2018/ 6

4

8

IE GlobalPresence NORTH AMERICA

Los Angeleswestcoast@ie.eduMiamisouthusa@ie.edu

New Yorknortheast@ie.eduTorontocanada@ie.edu

LATIN AMERICA

GENERALlatam@ie.edu

Mexicomexico@ie.edu

Bogotacolombia@ie.edu

centroamerica@ie.edu

Buenos Airesargentina@ie.edu

uruguay@ie.eduLima

peru@ie.edubolivia@ie.edu

paraguay@ie.edu

Quitoecuador@ie.edu

Sao Paulobrasil@ie.edu

Caracasvenezuela@ie.eduSantiago de Chile

chile@ie.edu

IE is present in countries worldwide:

29 offices around the world

583 people who work on improving the school daily

1500 events a year, around the world

IE HUB / Campus

/ 7

6

3

7EUROPE

EUROPE europe@ie.eduUK & Irelanduk@ie.edu Munichdach@ie.edu

Lisbonportugal@ie.eduMoscoweeca@ie.eduIstanbulturkey@ie.edu

Parisfrance@ie.eduMadrid & Segoviaiespain@ie.eduMilanitalia@ie.edu

ASIA-PACIFIC

Sydneyaustralia@ie.eduShanghaichina@ie.eduSeoulkorea@ie.eduMumbaiindia@ie.eduTokyojapan@ie.eduSingaporesingapore@ie.edusoutheastasia@ie.edu

MIDDLE EAST AFRICA

GENERAL mea@ie.edu Riyadhsaudi@ie.edu Dubaiuae@ie.eduLagosnigeria@ie.edu Johannesburgsouthernafrica@ie.edu

Venture Capital/ 2017 - 2018/ 8

InternationalrecognitionIE and its schools are recognized by the international press as being among the top international schools.

EURoPEAN BUSINESS SCHooL 4th in Europe December 2016

MBA4th in Europe8th worldwideJanuary 2017

MBA FoR ENTREPRENEURSHIP1st in Europe

8th worldwidejune 2016

EXECUTIVE MBA10th worldwideOctober 2016

oNLINE MBA 1st worldwideMarch 2016

MASTERS IN FINANCE3rd worldwide

june 2016

MASTERS IN MANAGEMENT 7th worldwide

September 2016

IE LAw SCHooL PRoGRAMS Among the best legal education

programs in the world

EXECUTIVE MBA1st worldwide - May 2015

MBAs17th worldwide - July 2015

MBAs1st worldwide

September 2009

Non-US business school5th worldwideOctober 2015

Non-US business school4th worldwideOctober 2015

BUSINESS SCHooLS1st in Europe - 3rd worldwide

September 2011

MASTER IN FINANCE1Oth for getting an investment

banking job August 2014

DISTANCE oNLINE MBA 1st worldwide

April 2017

MBAs3rd worldwide - May 2016

EXECUTIVE EDUCATIoN4th worldwide - November 2015

/ 9

AMBA ASSoCIATIoN oF MBA’SAACSB INTERNATIoNAL ASSoCIATIoN

To ADVANCE CoLLEGIATE SCHooLS oF BUSINESS

EQUIS EURoPEAN QUALITYIMPRoVEMENT SYSTEM

AccreditAtions

Venture Capital/ 2017 - 2018/ 10

Venture Capital is one of the most exciting and challenging asset

classes. It is an essential tool to convert groundbreaking ideas

into successful companies that can change the world, generating

employment, innovative services and products, and ultimately, social

prosperity. Entrepreneurs can find excellent allies in VC investors that

take an involved approach, providing guidance, expertise, capital, and

network to maximize the potential for success.

The aim of this course is to offer a framework of the venture capital

deal cycle and all its critical elements and to help sharpen your

analytical and decision-making skills to prosper in the venture capital

business. Through lectures, case studies, role plays, and enriching

group discussions, you will be equipped to successfully navigate

the stages of the deal process, including identifying investment

opportunities, negotiation strategy, valuation and structuring

techniques, value creation, and exit strategies.

Overview

Investing and Fundraising in High-Growth Companies

LocationIE Business School Campus in

Madrid, Spain

Duration1st. Edition: November 20-22, 2017

2nd. Edition: May 21-23, 2018

Investment3,900 €

Venture Capital

/ 11

Those working in or seeking to join:

- Venture capital or private equity firms

- Family offices

- Financial institutions that plan to enter into this area of business

- Corporate VC groups

- Professional service firms

- Consulting firms

- Advisory firms

- Foundations and other institutions that promote entrepreneurship (by giving grants, awards, etc)

Entrepreneurs in high-potential businesses

Start-up leaders

Chief investment officers, investment principals, managers or directors

Business angels

Individual investors

Business lawyers

Who is this program for?

Venture Capital/ 2017 - 2018/ 12

What can you expect?

if you are an investor, the program is designed to help you:

Understand the key drivers in the VC market

Screen early-stage investments to discover high-growth potential opportunities

Acquire essential valuation techniques

Understand non-financial factors affecting valuation

Learn about the key term sheet clauses (vesting, corporate governance, etc.)

Ensure effective due diligence

Pricing and structuring the deal

Negotiate the best terms and understand their financial implications in the shareholder’s agreement to avoid costly mistakes

Identify value drivers and build a constructive relationship with management

Explore different exit strategies (IPO, trade sale, secondary buy-out, partial exit, multiple rounds) and their implications

Understand the perspective of the entrepreneur

if you are an entrepreneur, the program will help you to:

Approach early-stage investors with confidence and maximize your fundraising chances

Understand what VC investors search for when assessing a deal

Learn about the critical stages in a VC deal

Improve negotiation skills in order to obtain the best terms

Identify potential risks and critical issues when negotiating a deal and avoid costly mistakes

Successfully undergo a due diligence process

Understand the financial implications of the terms in the shareholder’s agreement

Build a relationship with investors that will foster value creation

/ 13

Content

Generation and screening of investment opportunities

What to look for in a startup project

Teaser screening

Valuation of Potential investments Overview of valuation methods

The VC method

structuring and Funding instruments Structuring the deal

Funding instruments

Pricing of the investment

negotiation of a deal and due diligence Early-stage investor-entrepreneur meetings

Term sheet and documentation: red flags and key clauses (financial, corporate governance, people, share vesting)

Negotiation techniques

Due diligence, an ongoing task

Investor’s perspective

Managing a Vc firm The entrepreneurial nature of building a VC firm

Maximize returns through active portfolio management

Portfolio evaluation

Optimum risk/reward ratio

Value creation and exit strategies Value drivers

Exit strategies (IPO, trade sale, secondary buy-out)

Partial exits, next rounds

Behavioral Finance Identifying and managing behavioral biases in Venture Capital

Venture Capital: Investing and Fundraising in High-Growth Companies is one of the most comprehensive programs available as it covers both

the investor’s and the entrepreneur’s perspectives, and the “financial skills” as well as the “people skills” necessary in early-stage investing.

Understanding the views of all sides of the table and fostering value creation by creating strong bonds with the startup management teams can

be key to the success of a venture capital deal. The course is designed to be interactive and practical. Program contents will be reinforced through

case studies of well-known success stories , role-plays, and hands-on exercises.

Venture Capital/ 2017 - 2018/ 14

Faculty

Co-Founder of Vitamina KVC

Javier co-founded Vitamina K Venture capitalin 2011. Vitamina K specializes in seed andgrowth investments in technological andinternet startups, including Ludei, the MadVideo, chicisimo, Alice.com, and saluspot(recently sold to teLeFonicA). in 2012Vitamina K achieved the sale of sindelantal.com to its biggest european competitorJusteat.com. Javier serves on the board ofJusteat.com, among other companies.Javier has also participated actively inthe creation of new businesses, both asan entrepreneur and business angel intechnological startups, like saluspot.since 2008, Javier is ceo of JB GestionPatrimonial, a wealth management andadvisory firm with 400M in client assetsunder management. Prior to JBGP, he workedfor several financial services companies:oliver Wyman Financial services (Madrid),Morgan stanley (London), and clariden Bank(Zurich). in addition, he is president of severalcollective investment institutions, bothspanish and from Luxembourg.Javier also teaches in cUneF’s Master inFinance. He holds a Bachelor in BusinessAdministration from icAde and is a certifiedeFA (european Financial Advisor) and amember of eFPA.

Javier Benito

Professor of Entrepreneurship at IE Business School

Peter Bryant joined ie’s entrepreneurshipFaculty in 2009, having earned his Phd in2006 from the Macquarie Graduate schoolof Management in sydney, Australia. He alsoholds an MA in Management from the sameuniversity. He has a BA in History with theUniversity Medal from the University ofsydney, Australia. during the preceding fifteen years, Peter worked as a manager in the airline, banking, consulting and venture capital industries in sydney, Australia. He subsequently managedthe commercialization of new technologies through the creation of spinoff companies at the University of sydney. in this role, he accomplished successful iPos and Vc deals. in Peter’s academic career, he researches in the fields of entrepreneurial management and strategy, and their relationship to the dynamics of industrial change and the evolution of organizational capabilities. His research is published in the Journal of Business Venturing, entrepreneurship theory and Practice, Management decision, Applied Psychology: An international review, neuroscience and neuroeconomics, as well as professional outlets including the online editions of the Harvard Business review and the economist. Peter is currently co-editing the volume on organizations and management for elsevier’s new encyclopaedia of the social and Behavioral sciences.

Peter Bryant

Partner at Bullnet

since october 2001, Javier is devoted to the management of Bullnet, a Vc firm specialized in technology projects that currently manages three venture funds: Bullnet capital i, Bullnet capital ii and Bullnet capital iii. He is a member of the Board of all the portfolio companies of Bullnet capital i and ii. He is also a member of the board of three non-technology companies (reebok sports club, image Fitness and Mangas).in April 2000, Javier co-founded and became chief executive officer of doing, a Venture capital firm specialized in technology related projects that managed a first fund of € 50MM, initially fully committed by Multitel (spanish investor in the telecom sector).Prior to joining doing, Javier was senior Manager at Bain & company, the international strategy consulting firm, where he worked for more than five years, first in the Paris office and, since september 1996, in Madrid. At Bain, Javier advised senior management of major spanish and international companies on strategic issues, focusing primarily on corporate strategy, sales &marketing, mergers&acquisitions and operations. He was an active member of Bain’s Worldwide telecom/technology and e-commerce practices, as well as of Bain’s Private equity consulting practice, executing strategic due diligence on major deals for pan-european investors.

Javier Ulecia

/ 15

Founder of Adara Venture Partners

nicholas has managed Venture capitalinvestments in high-tech companies for thelast 14 years. during this period he has beenactively involved with more than 25 earlystage ventures and served on the board of16 companies, totaling more than 50 years ofboard membership in early stage technologyventures.nicholas is a founder and Managing Partnerof Adara Venture Partners since 2002. Adaramanages $130Mn across several investmentvehicles, all focused on early stage, digitalenterprise ventures. Prior to Adara he foundedand was ceo of netfractal, a venture fundbased in Madrid.From 1992 until 1999 he was a partnerat Monitor company, where he gainedexperience consulting for global industrialand service companies in the pharmaceutical,infrastructure, technology and defensesectors. He also led advisory work onseveral mid-sized acquisition and exit deals.Previously he worked at Andersen consultingin Paris, where his role included thedevelopment of proprietary methodologiesfor the management of technology-basedr&d. nico obtained a Bsc degree (Aerospaceengineering) from the École centrale de Paris,an Msc (Aeronautics & Astronautics) fromMit and an MBA from inseAd. He is a privatepilot and an unlimited aerobatics competitor.

nicholas Goulet

Founder of EMCapital

eusebio has over 25 years of professional experience analyzing, structuring and executing corporate debt and private equity transactions, as shareholder, lender, borrower, manager and investor. He is currently leading a firm focused on advising spanish mid-market firms looking for resources and funds looking for investors or investees.From 2010 until January 2015 he was Partner at n+1 Mercapital, the leading private equity firm in spain, also present in Latin America. He has worked at the european Bank for reconstruction and development in London, investing in eastern europe, and at catalana d’iniciatives, as head of the Madrid office.eusebio has also worked in line management, as corporate director of nuter Feed, and in consulting with Accenture and siarBossard. eusebio has a BA in economics, an MBA from inseAd, and is an ultramarathon runner.

eusebio Martín

Venture Capital/ 2017 - 2018/ 16

Guest speakers

The program agenda includes two sessions with successful VC

investors and entrepreneurs, who will come to the classroom to share

their insights, experience, and professional tips with you.

José Miguel HerreroFounder Big Sur Ventures

Knowledgeable of European and US Markets, he has extensive

international experience in starting and running businesses of diverse

sizes including managing a US Nasdaq listed company ($3.5B). He

has founded, co-founded and otherwise led numerous technology

enabled products and services companies including LaNetro (later

divided into its separate businesses and today known as LaNetro and

Zed).

Joe Haslam

Co-founde r and Chairman of hot .co .uk

Joe is the Chairman & co-founder of hot.co.uk and a board member

of Shared Secrets. He is also a mentor at Wayra, Lisbon Challenge

and in the IE Venture Lab. As part of the founding team of Marrakech,

he participated in the raising over $75M in venture capital. He is a

regular commentator for Irish Radio and Television on Spanish econo-

mic and political affairs.

/ 17

Marisol Quintero

Ceo of Bioncotech The rapeutics

PhD in Pharmacology, Executive MBA at IE Business School. In

2008 she joined Marcelino Botín Foundation as Technology Transfer

Manager. In 2011 she joined CNIO (National Center for Oncological

Research) as Director of Innovation. Since June 2013 she is CEO of

Bioncotech Therapeutics, a biopharmaceutical company dedicated to

the development of new oncologic treatments.

Venture Capital/ 2017 - 2018/ 18

Details

If you register in Venture Capital and want to cover

a wider range of investment asset classes, you can

stay for another 2 days and participate in Private

Equity for a special total price of 5,900 €. Benefit

from a 30% concession on the Private Equity

course and pay only 5,900 € for both programs.

VeNTUre CapITal

www.ie.edu/VC

prIVaTeeqUITy

www.ie.edu/PE

+1st. Edition: November

20-22, 2017

2nd. Edition: May

21-23, 2018

1st. Edition: November

23-24, 2017

2nd. Edition: May

24-25, 2018

reGISTraTION

You may register online by going to our website: www.ie.edu/VC ,proceeding to the program’s webpage, and clicking on the “Register

now” button on the right-hand side.

Once your registration is received, you will be contacted by IE staff

to confirm your enrollment.

SpeCIal CONCeSSIONS

Concessions are available for IE alumni, groups of executives

attending from the same organization, participants registering for

more than one program, early-bird inscriptions, and other cases.

CONTaCT

Barbara ZubillagaInternational Executive Programs Manager

barbara.zubillaga@ie.edu

Tel.: +34 91 568 97 58 /+34 620 91 29 33

FeeS

The program investment is 3,900 €, which covers tuition, course

materials, and all coffee breaks and lunches for all three days of the

program.

FINaNCIal aId

IE Business School may be able to help you to finance the program

through our financial aid department. To explore opportunities

available to you please contact financialaidexed@ie.eduMore information on financial aid at IE is available www.ie.edu/executive-education/financial-aid. Partial scholarships are also

available for exceptional candidates

/ 19

Why IE Business SchoolRanked No. 1 in Europe, IE Business School is dedica ted to educating business leaders through programs based on its c ore values of:

E ntrepreneurial spirit: Founded in 1973 by entrepreneurs for entrepreneurs, IE places the entrepreneurial and innovative mindset at the heart of its programs, and is home to many startup initiatives such as the Venture Lab, the Spain Startup & Investor Summit, and Wayra.

Diversity and global focus: With about 100 nationalities making up its student body, IE provides business education with a global perspective. It supports talent from all over the world from admission to graduation and beyond, and through its Diversity and Equality Commission and its Center for Diversity.

Humanities and social responsibility: As Secretariat of the United Nations Global Compact in Spain, IE places positive social impact at the forefront with its Corporate Social Responsibility programs and expert faculty in areas of social entrepreneurship and microfinance, among others. It is also the proud birthplace of organizations such as Net Impact and Emzingo Group.

IE Executive Education programs equip managers, entrepreneurs,

and leaders with the latest tools, best practices, and skills through

interactive and practical sessions. Our programs are designed to

enable executives to excel amidst the many and varied challenges

they face both today and in the future.

Venture Capital/ 2017 - 2018/ 20

discover more about our programs at:

www.ie.edu/executive-education

International Executive ProgramsProgram Portfolio

technology, Analytics & innovation programs

Accelerate: Building Business from Science & Technology -

wwww.ie.edu/abbst

From Big Data to New Opportunities

- wwww.ie.edu/iepbgd

industry ProgramsMarketing, sales & communication programs

Effective Management for Security Professionals - wwww.

ie.edu/emsp

Design Thinking for management - wwww.ie.edu/sdw

strategy & Leadership Programs

High Impact Leadership - wwww.ie.edu/hilp

Executive Summer School - wwww.ie.edu/exss

Finance Programs

Venture Capital - wwww.ie.edu/vc

Private Equity - wwww.ie.edu/pe

Strategic Corporate Finance - wwww.ie.edu/scf

(List is subject to change)

/ 21

Venture Capital/ 2017 - 2018/ 22 Venture Capital/ 2018

contact

Visit our website where you can also download the program brochures: www.ie.edu/executive-education. or contact our Admissions team:

BArBArA ZuBIllAgA

Program ManagerBarbara.Zubillaga@ie.edu+34 91 568 97 58+34 620 91 29 33

@IEExecEducationIE Business SchoolExecutive Education IE Executive Education

/ 23

www.ie.edu/VC

IE Business School Executive EducationC/ Pinar 18Madrid 28006 - España

Tlf: +34 91 568 96 00Fax: +34 91 568 96 18