I have a problem to in case to keep pertcage of share which correct eqation should be use to to ad NA in other question will be add to both side or one side for bothe side or just one side why in quation as my professeur put just in left side which I think is not logical 325,000+ NA = 0.175\times (1.562.500+ 480.769 + NA) Cap Table Simulation 76 ⚫ 2 Founders invest 100.000 EUR each to create their . company and create a total of 1.000.000 shares • Q1: At the seed round, a Business Angel invest 750.000 EUR and ask 20% of shares in return ⚫Q2: At the Series - A. a VC invest 5.000.000 EUR at a pre-money valuation of 20.000.000 EUR. The Series - A VC also buys back 5% of the shares of the Business Angel Q3: At the Series - B. the company would like to raise 20.000.000 EUR at a pre-money valuation of 65.000.000 EUR. A Series - B investor will invest alongside with the Series - A VC who has decided to also co-invest in order to not be diluted below 17.5%. So the total amount raised (VC_A + VC_B) will be 20M.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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I have a problem to in case to keep pertcage of share
which correct eqation should be use to to ad NA in
other question will be add to both side or one side for
bothe side or just one side why in quation as my
professeur put just in left side which I think is not logical
325,000+ NA = 0.175\times (1.562.500+ 480.769 + NA)
Cap Table Simulation
76
⚫ 2 Founders invest 100.000 EUR each to create their
.
company and create a total of 1.000.000 shares
• Q1: At the seed round, a Business Angel invest 750.000
EUR and ask 20% of shares in return
⚫Q2: At the Series - A. a VC invest 5.000.000 EUR at a
pre-money valuation of 20.000.000 EUR. The Series - A
VC also buys back 5% of the shares of the Business
Angel
Q3: At the Series - B. the company would like to raise
20.000.000 EUR at a pre-money valuation of
65.000.000 EUR. A Series - B investor will invest
alongside with the Series - A VC who has decided to
also co-invest in order to not be diluted below 17.5%.
So the total amount raised (VC_A + VC_B) will be 20M.
Transcribed Image Text:I have a problem to in case to keep pertcage of share which correct eqation should be use to to ad NA in other question will be add to both side or one side for bothe side or just one side why in quation as my professeur put just in left side which I think is not logical 325,000+ NA = 0.175\times (1.562.500+ 480.769 + NA) Cap Table Simulation 76 ⚫ 2 Founders invest 100.000 EUR each to create their . company and create a total of 1.000.000 shares • Q1: At the seed round, a Business Angel invest 750.000 EUR and ask 20% of shares in return ⚫Q2: At the Series - A. a VC invest 5.000.000 EUR at a pre-money valuation of 20.000.000 EUR. The Series - A VC also buys back 5% of the shares of the Business Angel Q3: At the Series - B. the company would like to raise 20.000.000 EUR at a pre-money valuation of 65.000.000 EUR. A Series - B investor will invest alongside with the Series - A VC who has decided to also co-invest in order to not be diluted below 17.5%. So the total amount raised (VC_A + VC_B) will be 20M.
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