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Intro to Angel Investing Mini- Course. 3 sessions.
January 23, 2021 @ 11:00 am - 5:00 pm EST
Best for beginner & intermediate level investors and ALSO startups (learn what the other side of the table is thinking to best prepare to fundraise!)
Session 1: Due Diligence
Session 2: Term Sheets & Cap Tables
Session 3: Valuation
Conducting due diligence on a potential company for investment is the cornerstone of any solid research exercise that angel investors should undertake. Studies have shown a correlation between Returns On Investment and greater diligence. By the end of this session, you will understand:
- the key 8-10 topic areas to diligence
- the unique diligence needs for sector types such as SaaS/digital (health) companies v. medical device v. therapeutics companies
- the resources needed to complete diligence
Startup companies commonly issue one of several types of Term Sheets, depending on their stage and capitalization needs, among other factors. These include Convertible Notes, SAFE Notes, KISS Notes, (Preferred) Equity. Warrants and employee stock options will also be reviewed as they can impact the equity ownership of a company. By the end of this session, you will understand:
- the common types of Term Sheets and the significance of each
- how an investment based on each of the Term types is reflected on a company’s cap table
- how to calculate your Return on Investment based on cap tables and certain assumptions.
Valuation, valuation, valuation. What’s a company worth? This is often a point of deep discussion between investors and startups. Becoming familiar with the approaches for valuing early stage companies is critical to bringing both sides of the table closer together and hopefully shaking on a deal. By the end of this session, you will understand:
- common methods for deriving valuations of early-stage SaaS & digital health companies with & without revenue
- common methods for deriving valuations of early stage medical device, medical diagnostics and therapeutics companies
- the resources needed for determining valuations.
Case studies will be utilized for illustrative purposes.
Instructors
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Elizabeth Cho-Fertikh, PhDCofounder & Managing Director, MEDA Angels Dr. Cho-Fertikh is a scientist-turned-angel investor with over 25 years of cross-functional experience in cancer therapeutics R&D, regulatory and both nondilutive and dilutive fundraising. She has worked across academia, industry & startups, and is a frequent mentor/advisor to healthcare startup companies & incubators. She has invested in dozens of early stage-healthcare startups across sectors. She received her BA from Johns Hopkins, MS from Georgetown, PhD from Thomas Jefferson Medical School & completed her postdoctoral training at Harvard Medical School. |
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John Brezenski, MBA, MEDA Advisor Mr. Brezenski is a senior business professional with 25 years of broad-based experience spanning operating and executive management, advisory & private equity roles, specializing in growth strategies. His experience has spanned all company life cycle stages across a variety of sector including many areas of high tech (enterprise software, communications, semiconductors), medical and healthcare, chemicals & other industry process sectors. He currently provides advisory services to several Boston-based boutique groups and is a Partner with J. Locke & Co, a merchant bank. Mr. Brzezenski is an active angel investor, having been a member since 2002 and a former Board Director of the New England-based angel investor group, Launchpad Ventures. He obtained his AB with honors in Economics from Harvard University and his MBA from Kellogg School at Northwestern University. |