What will be your key responsibilities?
- You will be one among 3 members in a deal team consisting of a Director, a VP and an Associate.
- A deal team of 3 will typically be executing a Fund Raise of USD 50-200 Mn.
- A deal team of 2 will be executing a USD 10 -50 Mn Fund Raise.
- Support director on every deal. Ownership of all deal related collateral – Deck, Data Pack [Historical financial and operating data that syncs with the story and deck], Financial model [including common size analysis and growth analysis].
- Be able to flesh out an agreed story to complete deck by working with vendors/ team [Involves getting the data from Client and fleshing each slide].
- Projections in Financial Model and Historical Data in Data pack need to be similar format or relatable. Grip on data that goes into projections especially data that will play out during a process. Not more than 5% deviation on projection during process.
- Be able to pattern match and align story data pack and model and highlight strengths and weaknesses of the company to the director. Be able to respond to additional data requests during process as requested by Director.
- Be able to create possible FAQ pack/FAQ Data ahead of Curve. Should be able to handle investor call on collaterals owned by them. Be able to Market Size.
- Be able to manage the associate and coach the person to deliver the desired output. Be willing to spend the time needed to augment the training provided by the company. Ability to get the best out and train the associate on what is expected including TAT/ rigour, technical info etc.
- Ability to handle conversations with the principal/ associate in the funds and hold their own to defend the business model/ numbers/ competitive landscape etc. Ability to coach the founder on what each investor is looking for so that we make every meeting high impact.
- 2+ years in Consumer Internet Sell side equity deal structuring.
- Core values of integrity & curisoisty to learn.
- Should have work in a small team in closing atleast 120 million + USD deal
What is involved in a deal process?
Lead Evaluation & Mandate
Leads come either directly from the founder or indirectly through a VC firm. Our work starts by evaluating the merits of the Deal. We look at various parameters like Team, Outcome, Competition, Momentum etc using our proprietary evaluation framework.
At the end of the process we take a decision on whether we want to be commercially engaged to raise Capital for this business.
Once we have decided that we want to be working with a company we may need to pitch to the board of the company explaining why IE would be the right investment bankers for the process.
Our pitch for the mandate typically covers our positioning of the company and the target list of investors we plan to reach out to.
A successful pitch to the board would mean that the Mandate has been awarded to IE, after which we get into the actual work.
Collateral Preparation (IM ,Financial Model & Data Pack )
We start by figuring out the right way to position the story of this company by looking at the data and building a view on what the investor world would buy. So using a combination of outside-in knowledge and inside-out knowledge of the data, we tell the story of the opportunity in the form of an Investment memorandum(IM).
As part of the process we also create Financial models and data packs that demonstrate in numbers the performance of the company till date and the levers of the company’s growth through numbers.
Investor Meetings & Term Sheets
Once we are process ready with the collateral, we move on to setting up meetings with the right people in the respective funds that we want to run the process with.
Once we have managed the go-to-market process of getting the company to meet a host of investors, which might be anywhere between 15 to 60 or even more (depending on the kind of process) the target outcome would be competing term sheets from multiple investors.
After this we negotiate with multiple investors to bring the best possible term sheet to the company with Clarity on what we are optimizing for the company in a transaction.
We may be optimizing on certainty of transaction, size of the round, valuation or the quality of the investor. The transaction objectives usually change from deal to deal.
Diligence and Final Docs
After the term sheet is signed, we get into the due diligence process. This involves legal and financial due diligence conducted by vendors who are appointed by the investors. Typically, these vendors could be PWC KPMG, Ernst & Young and the like.
As a team, we ensure that the diligence process progresses smoothly without hiccups.
Once the diligence is completed, we get into the final set of legal documents or definitive agreements. And once these are negotiated and executed, money is wired by the investor to the company’s account.
After the company has raised money and started executing on their plan they will usually return to market to raise a new round of capital. In this scenario, more often than not, we re-engage with them.