NACVA and Liquid Scenarios Launch Venture Capital Valuation College
The National Association of Certified Valuators and Analysts™ (NACVA®) and Liquid Scenarios, Inc. today announced a first-of-its-kind curriculum—the Venture Capital Option Pricing Method (VC/OPM) Program, a course in the Venture Capital Valuation College—dedicated to empowering CFOs, venture-fund finance teams, and limited partners of venture funds with the knowledge needed to properly estimate fair value in accordance with U.S. GAAP, fair market value in accordance with IRS Revenue Ruling 59-60, and fair market value in accordance with SEC cheap stock rules. Call (855) 823-6825 or visit the registration website to sign up today.
“NACVA combines hundreds of years of practitioner experience and academic insights with top-flight instructors into the courses we offer CPAs and other financial professionals,” said Parnell Black, CEO of the National Association of Certified Valuators and Analysts (NACVA). “This new initiative with Liquid Scenarios® allows us to extend this expertise to the financial teams that power the fastest growing companies in the country.”
The volatility realized by recent venture-backed IPOs such as Facebook (NASDAQ: FB), down 40% from its IPO price and Zynga, down 78% from its IPO price (NASDAQ: ZNGA) not only speaks to the difficulty of valuing high-growth companies, but emphasizes the need for CFOs and finance teams to know the valuation approaches, methods, and techniques that impact the financial results VCs report to limited partners. Properly modeling this volatility determines if the valuations venture-backed companies report to private investors, the IRS, and the Securities and Exchange Commission (SEC) are accurate or lacking.
The VC/OPM Program is for VC financial professionals that want to be 100% certain that they understand how option pricing models impact their fund's investments, their employees' stock options, their company's SEC filings, their financial statements, and the results they report to limited partners. The VC/OPM program is currently available exclusively to W-2 employees of active venture capital funds, CFOs of venture backed companies, and finance teams of limited partners.
Graduates of the VC/OPM Program will be able to register for over 15 additional valuation courses offered by The Venture Capital Valuation College, which are tailored to venture capital finance professionals and cover such topics as PWERMs, DLOMs, DCF models, Equity Risk Premiums, Company Specific Risk Premiums, Volatility Buildups, Comparable Companies and Transactions, and the market approach to valuation.
The VC/OPM series will begin with a webcast on Thursday, November 29 and will subsequently be offered throughout the first quarter of 2013. After attending the webcast on November 29, participants will be able to articulate the primary advantages of OPMs over simple waterfalls when deriving fair value estimates, identify the most common errors in OPMs and their consequences to investors, employees and regulators, list five free, or extremely inexpensive resources any CFO can use to test OPM assertions for sanity, and differentiate between last round back-solve mechanics and enterprise value allocation mechanics.
“By partnering with NACVA,” says Lorenzo Carver, CEO and Founder of Liquid Scenarios, “we can offer an entire curriculum that guarantees venture fund finance teams and portfolio company CFOs that want to know and trust their fair value reporting can do so efficiently. When we presented our first course on VC Waterfalls and OPMs at NACVA's National Conference over three years ago, VC finance teams were not doing OPM calculations and most CFOs of venture-backed companies were not that familiar with the approach either. Today this is mandatory knowledge for high-growth finance professionals that want to trust the numbers they report stakeholders and regulators.”
Liquid Scenarios was the first company to automate venture capital valuation and in 2011 over 30 billion in portfolio company values were reported to limited partners using algorithms built into the system. Liquid Scenarios' technology reconciles FAS157/Topic 820 compliance-driven valuation techniques with the first-hand knowledge of investment teams at top venture funds. Even before 409A went into effect for venture-backed companies, valuation professionals used Liquid Scenarios' Waterfall and Option Pricing Method technology to value thousands of employee stock options in accordance with IRS and GAAP rules.
To learn more about the Venture Capital Valuation College or the OPM Prerequisites course, visit www.vcvaluecollege.com and click on the “register now” option, or call (855) 823-6825.
Headquartered in Salt Lake City, UT, the National Association of Certified Valuators and Analysts (NACVA) is a global, professional association that delivers training from the nation's leading experts in consulting fields such as business valuation, financial litigation forensics, expert witnessing, forensic accounting, risk fraud management, mergers and acquisitions, business and intellectual property damages, fair value, healthcare consulting, and exit strategies. Along with its training and certification programs, NACVA offers a range of support services, reference materials, software, and customized databases to enhance the professional capabilities and capacities of its members. NACVA's two business valuation credentials, the Certified Valuation Analyst® (CVA®) and Accredited Valuation Analyst™(AVA™), are the only business valuation designations accredited by the National Commission for Certifying Agencies® (NCCA®), the accreditation body of the Institute for Credentialing Excellence™ (ICE™).
About Liquid Scenarios:
Liquid Scenarios financial-analysis software and systems increase productivity and create competitive advantage for venture-backed companies, venture capitalists, private equity funds and other alternative asset investors. Liquid Scenarios solutions deliver anytime, any-device access to business-intelligence information for founders of high-growth ventures, investment professionals, and financial leaders so they can make swift, informed, and confidently actionable decisions based on the latest financial data available. For more information about Liquid Scenarios, visit the corporate website at www.liquidscenarios.com.
Liquid Scenarios is a registered trademark of Liquid Scenarios, Inc. NACVA is a registered trademark of the National Association of Certified Valuators and Analysts. All other company and product names are trademarks, registrations, or copyrights of their respective owners.
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The National Association of Certified Valuators and Analysts
Dave Dix, 512-761-4780