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• Exercise | June 2018

  Venture Capital Term Sheets

  Ramana Nanda, William A. Sahlman and Robert White

  Citation:

  Nanda, Ramana, William A. Sahlman, and Robert White. "Venture Capital Term Sheets." Harvard Business School Exercise 818-137, June 2018.  View Details

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• Case | HBS Case Collection | September 2016 (Revised April 2018)

  Western Technology Investment

  Ramana Nanda, William A. Sahlman and Nicole Keller

  Based in Portola Valley, California, Western Technology Investment (WTI) specialized in a hybrid form of debt and equity financing for early-stage companies. Like traditional venture capital and private equity firms, WTI raised funds from institutional investors and evaluated deals. However, instead of making initial investments in the form of equity, WTI focused primarily on lending money to start-ups, charging them interest and receiving warrants that could later be converted to stock in the case of a liquidity event. Most initial investments—usually in the range of $3–$5 million—were made in tandem with or following a company’s early rounds of venture capital equity financing. In addition, like more traditional venture capital investors, WTI hoped to participate in follow-on debt and equity investments in its successful portfolio companies.

  Keywords: entrepreneurial finance; venture capital; entrepreneurship; finance; Equity; Finance; Venture Capital; Entrepreneurship; Financing and Loans; California;

  Citation:

  Nanda, Ramana, William A. Sahlman, and Nicole Keller. "Western Technology Investment." Harvard Business School Case 817-019, September 2016. (Revised April 2018.)  View Details

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• Exercise | August 2016 (Revised February 2018)

  Entrepreneurial Finance Problem Set

  Ramana Nanda, William A. Sahlman and Robert White

  Citation:

  Nanda, Ramana, William A. Sahlman, and Robert White. "Entrepreneurial Finance Problem Set." Harvard Business School Exercise 817-037, August 2016. (Revised February 2018.)  View Details

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