VCIC 2019: Term sheets, startup unicorns and a letter from The Breakfast Club

Author Anu Mohan, ‘19

Author Anu Mohan, ‘19


Dear Chibus,

We accept the fact that we had to sacrifice a whole Friday in the VCIC to pursue our interest in venture capital. But we think you're crazy to make us write an essay telling you who we think we are. You see us as you want to see us - in the simplest terms, in the most convenient definitions - another Boothie. But what we found out is that each one of us is…” a venture capitalist, a banker, a techie, a PE…guy…, a consultant, a healthcare expert, and an entrepreneur.

Brought together with the intention of creating a diverse team of individuals, we never anticipated how much fun we would have working together at the Booth competition last week. The VCIC (Venture Capital Investment Competition) gives students the opportunity to act as venture capitalists, allowing them to engage with venture capitalists who are the judges and entrepreneurs who are pitching their businesses to “your fund.” The startups are pre-selected by the competition committee and the teams have a few days to independently conduct their due diligence. On the day of the competition, teams listen to the entrepreneurs’ pitches, engage them in Q&A sessions, conduct Partner meetings with the judges, and finally negotiate terms with a startup that has been shortlisted based on all the inputs.

This competition is a great way to gain exposure to the venture capital industry – learn to create basic term sheets, assess companies from a VC lens, and engage people in the space i.e. entrepreneurs and venture capitalists. You learn as much from your teammates as you do from the judges and startups. From their financial modeling experience, to their impressive networks, to their negotiating abilities, it truly is amazing to see what skills and connections Boothies can bring to the table. Throw in great teamwork and fun, and you will get a good deal every time.

Sincerely Yours,

BOLDer Ventures

Aka The Breakfast Club

The Venture Capital Investment Competition is coordinated at Booth under the leadership of Professor Scott Meadow. This year Partners from Listen Ventures, Origin Ventures, 7 Wire Ventures, Hyde Park Ventures Partners, Wintrust, Energize Ventures, Company First, Jump Capital and Horwood Marcus and Berk served as judges to the six finalist teams. The rigorously sourced startups included WeSolv, Yolobe and ChangED. Booth winners Adam Silver, Blake Lantero, Tyler Churchill, Robert Kaplan, Blaze O’Byrne and Margaret Gaby successfully negotiated with entrepreneurs to advance to the Regional VCIC in Boulder, Colorado.