OIV X International Business Valuation Conference, Bocconi University, Milan: Critical Issues in the Valuation of Early Stage Companies

BlueVal’s Partner Antonella Puca was featured in the X International Business Valuation Conference organized by the Organismo Italiano di Valutazione (OIV). Her fellow presenters included Mario Massari, Fondazione OIV; Douglas Summa, International Valuation Standards Council; Anthony Aaron, USC Marshall; Mauro Bini, Bocconi University; Sandra Mossios, EY London; Henk Oosterhout, QVO Values; Susann Ihlau, Mazars Dusseldorf.

Topics covered included the recent revisions of the IVSC valuation standards, business valuation methods in practice vs. academia, why business models matter in valuation, minority interest discounts, the valuation of trade names, ESG valuation in the context of M&A transaction, and early stage valuation.

Early stage companies include high-growth companies that may have significant size (also in excess of $1 billion) but have yet to reach profitability and rely on venture capital financing to continue operations. As a speaker at the X International Business Valuation Conference organized by the OIV, BlueVal’s Partner Antonella Puca provided an overview of recent trends in the venture capital market. She discussed the concept of pre- and post-money valuation and provided examples of the venture capital method, the asset-accumulation method, a three-stage DCF model and backsolve option pricing can be applied to early stage valuation. A copy of the slide deck of Antonella’s presentation is available upon request.