📘 Core concepts
- 1Funding stages: bootstrapping → angel → seed → Series A/B/C → IPO/exit.
- 2Valuation methods: DCF (FCFF/FCFE), relative valuation, asset-based, real options.
- 3Pre-money & post-money valuation differ by investment amount.
- 4Convertible instruments: SAFE, CCD, optionally convertible debenture.
- 5Exit options: IPO, strategic sale, secondary, buy-back.
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