AC6108 Module Outline 2017-18(1)

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Accounting, Finance and Information Systems

University College Cork - National University of Ireland, Cork

MSc Corporate Finance, MSc Asset Management

AC6108 Private Equity and Venture Finance

2017/18 18/01/2018 Module Note: 1/2018

Lecturer: Dr. Geraldine Ryan


Office: ORB3.39A
Office hours: Thursday 2.00-4.00 or by appointment
Email: g.ryan@ucc.ie
Telephone: (021)4902051
Lecture Schedule:
 Week 24 - Thursday 19/01 from 10-12 in BHSC 102
 Week 25 - Wednesday 24/01 from 9-11 in WGB G01
 Week 26 - Tuesday 30/01 from 2-4 in ConnS5
 Week 26 - Wednesday 31/01 from 9-11 in WGB G01
 Week 27 - Thursday 08/01 from 10-12 in WGB405
 Week 28 - Tuesday 13/02 from 2-4 in ConnS5
 Week 28 - Wednesday 14/02 from 9-11 in WGB G01
 Week 29 - Tuesday 20/02 from 2-4 in ConnS5
 Week 29 - Wednesday 21/02 from 9-11 in WGB G01
 Week 32 - Tuesday 13/03 from 2-4 in ConnJ5
 Week 32 - Wednesday 14/02 from 9-11 in WGB G01
 Week 33 - Thursday 22/03 from 10-12 in BHSC G02
 Week 37 - Tuesday 17/04 from 2-4 in ConnJ5
 Week 37 - Wednesday 18/04 from 9-11 in WGB G01

Module Description
1. Aims
This module aims to prepare and equip you with the necessary knowledge and fundamental skills to
take on roles at an analyst level in a Venture Capital/Private Equity firm. It will cover the What,
Why, When and How of the VC/PE process, giving you the know how to identify an investment
opportunity, evaluate and assess it, conduct due diligence, perform valuation and financial
assessment, monitor and value-add to the investment and finally develop an exit strategy.

2. Learning Outcomes
On successful completion of this module, students should be able to:
 Identify the sources of early stage company finance,
 Apply tools to value early stage companies,
 Explain and discuss the business planning process,
 Analyse and discuss the venture capital investment process,
 Explain the analyse methods for taking companies private.
3. Learning Environment
Lectures are the primary teaching strategy used in this module; however, these lectures will require
independent thought by you. All lecture notes and slides* used, handouts, tutorial information,
project results and other relevant information will be posted on the AC6108 blackboard site. You will
need to take detailed notes from lectures (i.e. more than what is available on the slides).

4. Module Content
 Introduction to Private Equity and Venture Capital
 Fundraising
 Investing
 Exiting

5. Recommended Reading
Each section of this module will be complemented with compulsory readings. These reading will
be taken from (1) case studies, (2) text books, (3) academic journals and (4) financial sections of
newspapers (i.e. the Financial Times and the Economist). Links to these readings will be available
on Blackboard.

Reference Texts:
 Lerner, J., Leamon, A., and Hardymon, F. (2012) Venture Capital, Private Equity, and the
Financing of Entrepreneurship. Wiley.
 Metrick, A., and Yasuda, A. (2010) Venture Capital and the Finance of Innovation. Wiley

Students are encouraged to read the financial sections of newspapers, the Financial Times and the
Economist. These are available in the Library. Also you should check out section 322 in the
Library (Q+1) for the majority of relevant books for this course.

6. Assessment
This module is examined by a combination of coursework (40%) and end-of-semester examination
(60%).

Coursework
 Group Project – 20%
o Presentation 1 - 1% of module marks
o Presentation 2 - 1% of module marks
o Presentation 3 - 3% of module marks
o Essay - 15% of module marks

 Two 1,500 word essays


o Essay 1 – 10% of module marks – individual case assessment
o Essay 2 – 10% of module marks – theory essay

Summer Examination
 This exam counts for 60% of the module grade and it will be held in May 2017.

 Exam Structure: Answer 2 out of 3 essay questions. Note: this exam structure is subject
to change by the external examiner.

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