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    Case Study

    Novartis Venture Fund: Valuation dilemmas

    By Benoit F. Leleux, Victoria Kemanian, Atul Pahwa and Katrin Siebenbürger Hacki
    9 pages
    May 2006
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    Reference: IMD-1-0242

    The Novartis Venture Fund is considering investing into a start up,Genedata, and must take into account the valuation analysis by boththe start up as well as Venture Valuation — an independent boutiqueorganization that specializes in valuing high growth potential startups.NVF uses the Venture Valuation inputs to determine how best tostructure the next round of financing for Genedata and the caserequires the reader to discuss and analyze pricing, further financingrequirements, and exit strategy for the fund.

    Keywords
    Valuation, Start-up, Venture Capital, Pharmaceuticals, Investment Strategy, Fund
    Settings
    Switzerland
    July 1999
    Type
    Field Research
    Copyright
    © 2005
    Available Languages
    English
    Related material
    Teaching note
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