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Venture Capital MasterClass Education Program

VC masterclass A4 scaled

The VC MasterClass Program 2024 is an immersive educational program designed to provide comprehensive insights into the art, science, and business of venture capital. It will consist of a series of sessions led by experienced VC practitioners and external speakers, covering various facets of venture capital and innovation.

The program is held online and in Luxembourg for a duration of a minimum of three months, in the second half of the calendar year.

The first edition will take place in 2024. Participants will engage in hands-on tasks and peer assessments, with high performers having the opportunity for internships at partnering VC funds.

Created by:Logos

The program is delivered by the LPEA.

About the Masterclass & modules

Program Objective

The primary objective of the VC MasterClass Program is to educate individuals interested in understanding the workings of venture capital. The program aims to provide an in-depth understanding of the daily activities of VC professionals, including investment sourcing, due diligence, legal negotiation, portfolio management, and board governance. It will also cover aspects of fund management, such as fund setup, structuring, investor relations, and operations.

Additionally, the program will feature sessions by specialist VC practitioners, delving into the nuances of specific focus areas, including but not limited to FinTech, B2B SaaS, Space, BioTech/ HealthTech…

Mangrove Capital Partners, Expon Capital and MiddleGame Ventures are the founding VC participants.

Experienced VC practitioners from the following VC funds will also participate as lecturers:

  • Promus Ventures
  • Vesalius Biocapital
  • Cycle Group
  • Fidelity International
  • Strategic Ventures
  • Encevo
  • Multiple Capital
  • LBAN

Pricing & Delivery

The entire course will cost 2.000,00 euros. There is a possibility of obtaining a scholarship via the LPEA for selected applicants.

Online courses to be delivered in the second half of the year - September 2024. Between 30 and 40 courses total.

Grading

The program will be graded. The founding VC firms delivering the bulk of the program. Their combined grade will count for 80% of the final grade and will be based on class participation (50%) and deliverables such as home work or special projects (50%). The remaining 20% of the final grade will be peer delivered – each participant will grade all other participants.

For whom?

Graduating students (business, finance…)
Early-career professionals in the financial services industry (funds services, venture capital…)
Individuals seeking a career transition into venture capital
Startup Entrepreneurs with a successful exit

How to apply

Participants will be selected based on criteria such as academic performance, work experience, and extracurricular projects.

Program Curriculum

Module 1
Introduction to the world of venture capital, history, current trends
Module 3
Venture fund operations and fund raising
Module 2
Venture investing & portfolio management
Module 4
Venture verticals & venture stages
Program Content
Module 1 - Introduction

Weeks 1 & 2

Introduction: 

  1. Definition and History / delivered 
  2. Why Venture Capital / delivered 
  3. VC today and future trends / delivered by Mangrove
  4. VC Economics (economics, power laws…) / delivered by Expon
  5. What is a Startup, life of a Startup / delivered by MGV

Delivery for module 1: class participation

Weeks 3 to 6 Sourcing and Origination

  1. Due Diligence
  2. Investment Memos
  3. Valuation Methodologies
  4. Exits
  5. Term Sheets and Legal Documentation
  6. Portfolio Management and VC Value Addition
  7. Board/LP Governance
  8. Risks and risk management
  9. A VC team
  10. Specialist VS vs Generalists VCs + size
  11. VC tools and data

Delivery for module 2: class participation for 30%, special project for 70%, special project is a written presentation of an investment memo and its associated term sheet.

Weeks 7 to 9

  1. Fund Set up and Structuring (in Luxembourg)
  2. Fund Modelling
  3. Fund raising (strategy and operations)
  4. Investor Relations
  5. Fund Operations and Fund Accounting
  6. Life of a fund

Delivery for module 3: class participation for 30%, special project for 70%. Special project is a written presentation of the fund you choose to raise, with explanations for why and how.

Weeks 10 to 13

  1. Direct to Consumer
  2. B2B models
  3.  PreSeed & Seed
  4. Series A to Series B
  5. Series C and Beyond
  6. SaaS Venture Investing
  7. Bio Tech/Health Tech
  8. Deep Tech
  9. Space Tech
  10. Fintech

Delivery for module 4: class participation for 30%, special projet for 70%. As a Special project, participants will choose a vertical of their liking, do research on their own and deliver a written presentation for why this vertical is the most promising from a venture pov.

The LPEA is also partnering with:

Faculty

Jérôme Wittamer

Jérôme Wittamer

Managing Partner – Expon Capital

A venture capitalist with a dual entrepreneurial/investment experience going back 3 decades. He co-founded Expon Capital to invest in the next wave of tech innovation, focusing on sectors that matter: Climate, Energy, Health, Finance using the tools of the era: internet, mobile, cloud and of course AI.

Jerome has built a long experience bringing technology to market at scale (B2B). He invested early in companies that became category leaders (globally or in Europe) like Spire, Salonkee, NextGateTech, refurbed, Pliops, Glovo, M-Systems… and developed a deep expertise in helping founders go from seed to Series B. Jerome is active in educational non-profits, previously chaired the Luxembourg Private Equity & Venture Capital Association and has been on its Executive Committee since 2010.

Alain Rodermann

Alain Rodermann

Founding and Managing Partner, Expon Capital

He is a senior Venture Capitalist, an entrepreneur and a former technical leader in global corporations. He spent the first eight years of his career in technical positions, leveraging his studies in mathematics, electrical engineering and computer science. He understood in 1995 that Internet Technologies would revolutionize the entire IT industry and decided to be part of this revolution by joining the startup ecosystem.After an MBA in 1997 he joined Innovacom, the Venture Arm of France Telecom, as an Investment Director where he invested in companies and had notable successes with the IPOs of Netvalue, Integra and Lastminute.com, a company that generated $3 billion in yearly revenues just 6 years after inception.

He co-founded ExponCapital in 2005 which has in its portfolio companies with stellar growth like Glovo, Catalyte, Spire. He received a Master of Science in Electrical Engineering from Supélec, and graduated summa cum laude from Institutd’EtudesPolitiques de Paris (Sciences Po) where he obtained an MBA.

Yannick Oswald

Yannick Oswald

Partner, Mangrove Capital Partners

Yannick Oswald is a Partner at the leading European and Israeli venture capital firm Mangrove Capital Partners, best known for being the first investor in companies such as Wix, Skype, Flo, Walkme, Sifflet, K Health, and The Bank of London.

To date, the firm has backed 6 unicorns at the seed stage. In 2020, he launched his blog www.yannickoswald.com, with the tagline Opportunities Everywhere, which has become Europe’s most-read VC blog.

Previously, Yannick launched a successful software startup and did two stints in a PE and VC firm respectively. Yannick grew up in Luxembourg City, has worked in several European countries and the US, and graduated in industrial engineering in Belgium (Solvay) and Argentina (San Andres).

Hans-Jürgen Schmitz

Hans-Jürgen Schmitz

Managing Partner, Mangrove Capital Partners

Hans-Jürgen is co-founder and partner at the leading European and Israeli venture capital firm Mangrove Capital Partners, best known for being the first investor in companies such as Wix, Skype, Flo, Walkme, Sifflet, K Health, and The Bank of London.

He has been a venture investor for 25 years, focussing his investing activity on ecommerce, marketplaces and B2B software. He helped structure and launch all of the six Mangrove funds.

Passionate about mentoring young talents he is one of the founders and members of the faculty of Included VC, one of Europe’s most recognized platforms to provide individuals from diverse backgrounds access into the world of venture capital.

German by origin and a 35 year resident of Luxembourg, he participates actively in the development of the financial industry. He is a member of an industry advisory body to the Luxembourg Finance Ministry and the founding chairman of the Luxembourg Private Equity and Venture Capital Association in 2010, today counting over 500 members.

Hans-Jürgen is a graduate of the University of St.Gallen.

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Pierre Festal

Partner, Promus Ventures

Nicolas Milerioux

Nicolas Milerioux

Head of Venture Capital, Encevo

Nicolas leads the Venture Capital activities at Encevo, a regional, integrated power utility. He is expert in energy transition related investments, particularly investments in Series A in Europe. To date, Encevo has performed 6 hand-picked opportunities out of nearly 8,000 reviewed companies.  

 

Prior to Encevo, Nicolas has gained experience in Venture Capital at GGM Capital and prior to GGM Capital has capitalised M&A financial analysis and strategy experience at firms like KPMG, Volkwagen Bank and PSA Peugeot Citroen (now Stellantis)

Michel Rzonzef

Michel Rzonzef

C-suit Executive and officer at a Fortune 500 Company with over 15 years of experience in international board governance, Michel has proven track record in driving sustained growth in Emerging Markets as well as in rejuvenating mature business models across economic cycles.

Highly agile, visionary leader, designing and implementing disruptive strategies through customer-centric transformation. Michel has a strong interpersonal and cross-cultural skills, with particular empathy for people development.

KW

Kanishk Walia

Partner, MiddleGame Ventures

Kanishk Walia is a Partner at MiddleGame Ventures, focused on investing in FinTech and Digital Asset start-ups across Europe. He joined the co-founders in 2020 as the first hire, after having worked in a similar role for a technology focused growth capital and private equity fund.

Prior to making the transition to investing, Kanishk was the co-founder and CEO of a venture backed, B2B fintech start-up building SME focused credit risk assessment software for banks and insurance companies. 

In addition to his experience as an entrepreneur, he spent four years in corporate finance advising small to mid-cap companies on capital raising and M&A transactions.  He is a graduate of the London School of Economics and Political Science with a degree in Economics.

Pascal Bouvier

Pascal Bouvier

Managing Partner & co-founder, MiddleGame Ventures

Pascal Bouvier is the Managing Partner and co-founder of MiddleGame Ventures, a Luxembourg based venture investor specialized in fintech and deep tech. Pascal has been investing in venture capital for the past 15 years in the United States and Europe.

Pascal is also a former entrepreneur having worked with startups and SMEs specialized in enterprise software, software services and financial services. Pascal holds an MBA from the University of Virginia’s Darden Business School and is a Chartered Financial Analyst.

Michael Rabinowicz (1)

Michael Rabinowicz

Michael is a Partner and General Counsel at Mangrove Capital Partners, a leading early-stage venture capital firm, where he manages the firm’s operations and legal and regulatory affairs. He also heads up the firm’s risk and AML/CTF functions, having previously led the firm’s compliance function. On the transactional side, Michael is responsible for fund structuring and the structuring, negotiation and execution of portfolio investments and exits.

Michael is a member of the Alternative Investment Funds Committee of the Institut Luxembourgeois des Administrateurs (ILA) and regularly teaches modules of the ILA Fund Governance and Crisis Management Masterclasses.

Prior to joining Mangrove, Michael was a corporate lawyer at Baker & McKenzie in London, where he advised clients on domestic and cross border private equity, M&A, joint venture and capital markets transactions.

Michael grew up in Sweden and the United Kingdom and, after spells studying or working in the United States, the United Kingdom and Hong Kong, has been living in Luxembourg since 2014.

Michael is admitted as a Solicitor of the Superior Courts of England and Wales and holds a BA in International Relations and German (magna cum laude) from Tufts University and an MA in Law from the University of Bristol.

Fabienne Roussel

Dr. Fabienne Roussel

Dr. Fabienne Roussel is an experienced healthcare specialist with more than 20 years of experience in managing innovation in life sciences.

She joins Vesalius Biocapital IV as Partner, having served as an Analyst for VBC III. Prior to this, she held Technology Transfer positions at several research institutions in Belgium and Luxembourg, where she designed the innovation management strategy, managed the institutional intellectual property portfolios, and accompanied spin-off company creation. She gained her professional recognition through the title of Registered Technology Transfer Professional.

This experience came on the heel of a specialization as Patent Agent in the US, first in a reputable law firm (Arnold, White & Durkee, LLP, now Winston & Strawn) and then a biotech company (Human Genome Sciences, acquired by GlaxoSmithKline in 2012).

Fabienne holds a PhD from Université Paris VII – Denis Diderot, where her work focused on the ontogeny of drug metabolizing enzymes and its importance in adapting drug regimens to each individual. She developed that theme in a post-doctoral experience at Pfizer, then the University of Arizona and University of Texas Medical Branch.

James Devlin

James Devlin

James Devlin is a Venture Capitalist and a co-founder of Fidelity International Strategic Ventures. He has backed over twenty fintech companies in North America, Europe and Asia across Retirement, Employee Benefits, Capital Markets, Brokerage, Digital Assets, RegTech and Wealth Management.

These include regional and product category leaders that went on to exit to major strategic buyers. He was previously at Eight Roads a global venture and investment firm and Fidelity International.

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Choon Dan

TBC

Ertan

Ertan Can

Ertan is a venture capital fund of funds pioneer in Europe, and Founder and Managing Partner of Multiple Capital.

He has a combined 20 years of experience in the fund of funds, Venture Capital, asset management, and information technology operating roles.

In 2013 he launched Multiple Capital, Europe’s first tech-focused fund of micro funds, with a portfolio of over 1000 companies. His driving ambition is to democratise diversified access to early-stage tech funds from all over the continent. He is an unorthodox and influential investor, keynote speaker and lecturer.

Ertan completed an International Finance and Law degree in Frankfurt and London and has an MBA from ESCP in Paris.

lily wang

Lily Wang

Lily is a partner at Expon Capital, a VC based in Luxembourg investing across Europe from Seed to Series B stages.