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Units Revenues Assumptions Term of the fund Final Closing (within 6 months from the legal set-up of the Fund) Yes/No Duration of the Fund (8 to 10 years) Years Extension of the Fund (1 or 2 years) Years Accept Extension Yes/No Duration Investment period Years Extension of Investment period (1 or 2 years) Years Accept Extension Yes/No Commited Capital Commited Capital by core investors Commited Capital by other investors Total Commited Capital Initial Drawndown Initial Drawndown Working excel Capital Increases ("Capital Calls") available to Capital Increases ("Capital Calls") download. Cumulative Drawndowns See avobe Cumulative Drawndowns Capital Gains Gains Amount per investment average Euro 000s 1.200
year1
year2
year3
year4
year5
year6
year7
year8
yes 10 2 No 4 1 No
Euro 000s Euro 000s Euro 000s % Euro 000s % Euro 000s % Euro 000s
# investments / year. (objective) companies # investments / year. ( int number) companies Cumulative # of investments Invested capital per year Cumulative invested capital Invested capital per year/ Commited Capital Cumulative invested capital/Commited Capital Average IRR pare deal average term to deinvest per deal ( 3 to 5 years) Multiple on invested capital # of deals deinvested per year Cumulative deals deinvested Investments (companies) in portfolio Cumulative Deinvestments/ deals in portfolio Deinvested Capital per year (cost) Cumulative Deinvested Capital (cost) Invested Capital in portfolio (cost) Deinvested Capital per year (cost+gains) Cumulative Deinvested Capital (cost+gains) Gains/(Looses) Cumulative Gains/(Looses)
# # # Euro 000s Euro 000s % % % years x # # # % Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s
6,0 6,0 6 7.400 7.400 34,3% 34,3% 15,0% 4 1,75 6 0,0% 7.400 -
9 0,0% 11.300 -
12 0,0% 14.900 -
15 0,0% 18.500 -
0,0% -
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Total Capital Gains Revenues/(Expenses) Financial Cash return Financial revenues average collection period Debtors Commissions & fees Assumptions Comisiones & fees Suscription fee % on total committed capital Total fee Management Fee % on Commited Capital Months whithin Investment period Fees whithin Investment period Months out of Investment period Fees out of Investment period Total Management fee in period Cumulative management fee Management Fee payments Cumulative payments Management fee Success Fee ("Carried Interest") IRR Objective Multiple objective on invested capital Deinvested to reach IRR objective (Invested)/Deinvested Shareholders IRR Total Success fee payments Cumulative payments success fee Total success fee generated Cumulative generated success fee
year1 -
year2 -
year3 -
year4 -
year5 4.868
year6 26.886
year7 2.696
year8 2.696
0,0% (10) 0 -
% Euro 000s % months Euro 000s months Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s % x Euro 000s Euro 000s % Euro 000s Euro 000s Euro 000s Euro 000s
0,5% 108 2,5% 11 501 501 501 501 501 7,0% 1,31 12 539 539 1.040 539 1.040 12 539 539 1.579 539 1.579 12 539 539 2.118 539 2.118 1 45 11 394 439 2.558 439 2.558 12 289 289 2.846 289 2.846 12 135 135 2.981 135 2.981 12 45 45 3.026 45 3.026 -
-7.400 -
-3.900 -
-3.600 -
-3.600 -
22.451
16.013
Other expenses Assumptions Transaction expenses % on invested capital per year Investment realization expenses Creditors %on deinvested capital per year Deinvestment realization expenses Creditors Total transaction expenses Formation expenses Total amount Depreciation ( 5 years) Services & expenses prior to formation Other Operating expenses RPI
% Euro 000s Euro 000s % Euro 000s Euro 000s Euro 000s
25
25 5 467
3,0%
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Legal expenses Auditors Auditor expected increase Auditor Creditors # members of the board Remuneration/member/month Other / year TotalOther Operating expenses average payment period Creditors (except auditors and members of board) Taxes Corporation Tax rate Tax exemption ( capital gains) Tax exemption (dividends) Taxable Income Cumulative looses befor taxes Tax carryback usable next year due to looses The treasury creditor Increase /Decrease The Treasury Working Capital Assumptions Working Capital Debtors Creditors Working Capital Increase /Decrease Working Capital Dividends & Reserves Assumptions Dividends "Pay-out Ratio" Objective Earnings 10% Earnings Cumulative Earnings 20% Reserves Looses Looses compensating Cumulative looses Legal Reserve
Units Euro 000s Euro 000s Euro 000s Euro 000s # Euro 000s Euro 000s Euro 000s days Euro 000s
year2 19 14 1,5 13 45 -
year3 19 19 1,6 13 52 -
year4 20 25 1,6 14 58 -
year5 20 22 1,7 14 56 -
year6 21 10 1,7 15 46 -
year7 21 5 1,8 15 42 -
year8 22 3 1,8 15 41 -
7 0,150 0 0
35,0% 99,0% 100,0% 1.128 1.128 1.718 1.718 2.313 2.313 2.915 2.915 2.915 2.915 2.915 6.801 3.885 -
Euro 000s
% Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s
100,0% 2.354 1.128 1.128 1.128 (1.128) 3.087 589 589 1.718 (1.718) 3.820 596 596 2.313 (2.313) 4.312 602 602 2.915 (2.915) 4.293 429 429 3.792 (2.915) 429 26.195 2.620 3.049 2.052 2.052 2.457 246 3.294 1.332 1.332 3.294 3.885 3.885 3.885 (2.553)
Units Shareholders Cash Flow Commited capital drawndowns Share Capital Copyreductions & paste on your Dividends paid navigator`s address bar Fund Liquidatin Total Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s
year 5 -
Shareholders IRR
14,1%
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Units Revenues Gains from deinvestment operations Dividends (assets in portfolio) Total revenues % growth Expenses Suscription fee Management Fee Success Fee ("Carried Interest") Transactions expenses Other Operating expenses Other expenses Cap. Losses Total expenses % on revenues EBITDA % on revenues Depreciation EBIT % on revenues Financial revenues PRE-TAX INCOME % on revenues Taxes % effective Tax rate NET INCOME AFTER TAXES % on revenues
year 1
year 2
year 3
year 4
year 5
year 6
year 7
year 8
4.868 4.868 -
Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s % Euro 000s % Euro 000s Euro 000s % Euro 000s Euro 000s % Euro 000s % Euro 000s %
(108) (501) (37) (467) (1.113) (1.113) (5) (1.118) (10) (1.128) 0,0% (1.128) -
(439) (75) (56) (570) 11,7% 4.298 88,3% (5) 4.293 88,2% 4.293 88,2% 0,0% 4.293 88,2%
(289) (356) (46) (691) 2,6% 26.195 97,4% 26.195 97,4% 26.195 97,4% 0,0% 26.195 97,4%
(135) (63) (42) (240) 8,9% 2.457 91,1% 2.457 91,1% 2.457 91,1% 0,0% 2.457 91,1%
(45) (6.433) (63) (41) (6.582) 244,1% (3.885) -144,1% (3.885) -144,1% (3.885) -144,1% 0,0% (3.885) -144,1%
Euro 000s %
0,0%
0,0%
0,0%
0,0%
(948) 22,1%
(24.572) 93,8%
(3.177) 129,3%
0,0%
Units Net Income after Taxes Depreciation Increase/Decrease The Treasury Increase/Decrease of Working Capital Operations Cash Flow INVESTMENTS DEINVESTMENTS Formation expenses Investments Cash Flow Cash Flow before Financial Activities Success Fee Advance Payments Shared Capital Reduction Shared Capital Increase Fund Liquidation Financial Activities Cash Flow ash Flow before Dividends payment of Dividends Initial CASH CASH Increase /Reduction final CASH Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s
year 1 (1.128) 5 (1.123) (7.400) (25) (7.425) (8.548) 9.201 9.201 653 2.571 653 3.224
year 2 (589) 5 (584) (3.900) (3.900) (4.484) 3.665 3.665 (819) 3.224 (819) 2.404
year 3 (596) 5 (591) (3.600) (3.600) (4.191) 3.665 3.665 (525) 2.404 (525) 1.879
year 4 (602) 5 (597) (3.600) (3.600) (4.197) 2.458 2.458 (1.739) 1.879 (1.739) 140
year 5 4.293 5 4.298 2.600 2.600 6.898 (2.600) (2.600) 4.298 140 4.298 4.438
year 6 26.195 26.195 8.700 8.700 34.895 (3.915) (8.700) (12.615) 22.280 (948) 4.438 21.332 25.770
year 7 2.457 2.457 3.600 3.600 6.057 (1.259) (3.600) (4.859) 1.197 (24.572) 25.770 (23.375) 2.395
year 8 (3.885) (3.885) 3.600 3.600 (285) 5.174 (3.600) (507) 1.067 782 (3.177) 2.395 (2.395) -
Units ASSETS Fixed Assets Formation expenses INVESTMENTS Total Fixed Assets Current Assets Cash Advance fees Debtors Total Current Assets TOTAL ASSETS
20 7.400 7.420
15 11.300 11.315
10 14.900 14.910
5 18.500 18.505
15.900 15.900
7.200 7.200
3.600 3.600
Euro 000s Euro 000s Euro 000s Euro 000s Euro 000s
LIABILITIES Current Liabilities Dividends to pay-out The Treasury Creditor Creditors Totalcurrent liabilities Equity Share Capital Reserves ( looses or legal reserves)) Total equity TOTAL LIABILITIES
948 948
24.572 24.572
3.177 3.177
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