Valuation guidelines applicable to private equity and venture capital (e-learning)

Fair valuation of privately held assets, including strength and reliability of the valuation process, is an ever-increasing area of focus for investors, accounting standards setting bodies, auditors and regulators in the context of unprecedented market conditions and a challenging global economy.

The International Private Equity and Venture Capital Board has issued an updated version of their well-known guidelines (‘IPEV guidelines’, applicable for reporting periods as from January 2019), with significant developments in valuation methodologies to ensure compliance with fair value principles in the context of accounting and financial reporting purposes.

With the strong collaboration of Luxembourg PwC's experts, PwC's Academy has developed the "Valuation guidelines applicable to venture capital and private equity e-learning". It is designed for industry participants who seek to acquire, develop a foundational knowledge on valuation concepts, methodologies and techniques used to value interest held in private companies, including recent developments set out in the IPEV guidelines.

By the end of this training, the participants will be able to:

• obtain a foundational knowledge and understanding of valuation guidelines, valuation concepts and recognised methodologies;
• apply these valuation methodologies.

• Valuation concepts
• Valuation guidelines
• Recognised valuation methodologies
• Quote price in the context of a private equity/venture capital asset valuations
• Market multiples
• Transaction multiples
• Discounted cash flows
• Price of a recent investment as an input in the calibration exercise

We deploy our e-learning solution as from 5 individual licences.

This training is coordinated by Talat Kadret, Partner at PwC Luxembourg.

Since joining PwC in 2007, Talat, audit partner in the Alternative department of PwC Luxembourg, has gained experience through numerous assignments in both medium size and international companies. In particular, he has developed strong skills in auditing investment funds with a large focus on the private equity and venture capital industries.

He is also leading our Alternatives Valuation Services (AVS) practice. Talat is currently focused on private equity and venture capital through the audit of several structures organised under various types of companies (SICAR, SIF, RAIF, SCSp, holding) as well as through the review of the valuation of the funds participation (review of the fair market value using different valuation methods, application of the IPEV guidelines, etc.).