In my last article I was writing about some pitfalls in the reps and warranties. Today I want to write about some noteworthy oddities. Recitals, Representation, Guarantees Even I learn from time to time. So now I was looking into recitals of facts, opinions and intents at the beginning of […]

In the first article on generic forms, I was writing from the view of the founder who wants to conquer the world. Now, how does the world actually work? Intro Rumor has it, that no matter what ecosystem you are in and where you are incubating, there is a network […]

The alternative asset class of non-listed companies.  In recent years, it has been debated if the term „alternative asset class“ is to be considered outdated. This is an argument mostly brought forward by people involved in the private equity industry – which includes the VC industry – and is partly […]

Since I haven’t found any book or blog article yet that explains the unique aspects of venture capital value creation, here’s a rough edge explanation. Let’s first understand these four concepts. (1) Fair Market Valuation as practiced, (2) Steering Market Valuation, (3) optimal executable market price, and (4) Investor Interests. […]

Naively inspired by the recent show on „Billions“ and seeing the word USP dropped in the investment case of a candy manufacturer, I was asking myself: what did I miss here? My first notion on taking factor models, various risk premia and betas into consideration didn’t make any sense to […]