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This style is about purchasing minority stakes in cash-flow-negative-but-high-growth companies that want to scale and eventually go public or sell (think: Uber or Airbnb before their IPOs). In the 2010s, startups began to postpone their IPOs, but they still needed funding. There’s usually a long list of previous VC investors as well.
Investment Banking: Deals The basic difference is that in “investment banking” groups, such as technology , TMT , healthcare , or consumer retail , you work on various deal types: sell-side and buy-side M&A, leveraged buyouts, IPOs, follow-on offerings, and bond issuances. or debt offerings (investment-grade or high-yield bonds).
There is some overlap because at the large banks, wealth management clients often get early/privileged access to investment banking products, such as upcoming IPOs, equity/debt offerings, or new investment products. If you have good sales skills, you could break in with a middling GPA (3.0 – 3.5)
If you worked at a startup, how did you win more customers or partners in a sales or business development role? Venture Capital Interview Questions: Markets and Investments These questions span a wide range, as they could ask you to discuss everything from the current M&A and IPO markets to specific startup sectors you like.
At the time of the deal, it was expected to grow sales at 3-5%: Remember that PE deals do not require “growth.” Interview Guide : There’s a DCF case study based on Attendo AB, a healthcare facility company in Sweden. What about when the IPO market is shut down and exits look uncertain? Specifically, in the U.S.,
their Enterprise Values are not worth much for a long time): Hedge funds focusing on public biotech companies step into this process after the IPO part, which means they can bet on extreme value inflections based on binary outcomes. Short LQDA, Long UTHR: This works if you have the opposite view.
Communication/presentation skills and technical/modeling/deal skills are all quite important, but “sales skills” are also crucial if you’re interviewing at a firm with significant sourcing. Exits Up Slightly But Still Poor – M&A activity has ticked up modestly, but the IPO market is still mostly shut. Q: Why our firm/group?
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