Most founders learn how VC and PE work after they're already in the process — which is the worst time to be learning. WETYR built this resource to change that. Whether you're considering raising your first institutional round, preparing for a PE-backed exit, or just want to understand how the machine works, start here.
Curriculum
Core Modules
Module 01
How VC Works
The mechanics of venture capital — fund structure, LPs and GPs, carry, and how investment decisions actually get made.
- Fund structure and lifecycle
- LP/GP dynamics and carry
- Investment thesis and decision process
- Portfolio construction math
Module 02
How PE Works
Private equity from first principles — leveraged buyouts, operating improvements, hold periods, and how returns get generated.
- LBO mechanics and debt structuring
- EBITDA and multiple expansion
- Hold periods and exit timing
- Operating value creation vs. financial engineering
Module 03
Valuations Explained
How companies get valued at every stage — from pre-revenue multiples to DCF, comps, and what buyers and investors actually pay for.
- Pre-money vs. post-money
- Revenue and EBITDA multiples
- DCF fundamentals
- What drives premium valuations
Module 04
The Term Sheet Decoded
What every clause in a term sheet actually means — and which ones founders should push back on, negotiate, or run from.
- Valuation and option pool
- Liquidation preferences
- Anti-dilution provisions
- Board control and protective provisions
Module 05
Deal Structures
Beyond the headline price — how structure affects your actual outcome in VC rounds, PE buyouts, and M&A transactions.
- Equity vs. debt vs. hybrid
- Earn-outs and rollovers
- Recapitalizations
- Management incentive plans
Module 06
Due Diligence Process
What buyers, investors, and lenders actually check — and how to be prepared before the process starts.
- Commercial and market diligence
- Financial quality of earnings
- Legal and IP review
- Ops and technology assessment
Module 07
Cap Table Management
Cap table hygiene, waterfall modeling, dilution scenarios, and how to read what your equity is actually worth.
- Pre vs. post-money mechanics
- Option pools and 409A
- Dilution through rounds
- Exit waterfall modeling
Module 08
Raising from Institutional Investors
How to approach, pitch, and close institutional capital — what VCs and PE firms want to see and how to build those relationships.
- Targeting and outreach strategy
- Pitch deck anatomy
- What LPs evaluate in a deal
- The 90-day raise process
Module 09
Exit Strategies & Outcomes
The full spectrum of liquidity events — IPO, strategic sale, PE buyout, secondary sales, and what each actually means for founders.
- IPO vs. M&A trade-offs
- Strategic vs. financial buyer dynamics
- Secondary and partial exits
- Tax and estate planning basics
Quick Reference
Key Terms Glossary
The terminology that comes up in every VC and PE conversation — with plain-English definitions.
EBITDA
Earnings Before Interest, Taxes, Depreciation, and Amortization — the primary profitability metric used in M&A and PE valuation.
LOI
Letter of Intent — a non-binding document outlining the key terms of a proposed transaction before definitive agreements.
Carry (Carried Interest)
The share of investment profits that a fund manager earns — typically 20% above a preferred return hurdle.
Cap Table
Capitalization table — a spreadsheet showing every owner of equity in a company, their stake, and the terms of their ownership.
LBO
Leveraged Buyout — a PE acquisition strategy using a significant amount of borrowed capital to amplify returns on equity.
Liquidation Preference
A term sheet provision that determines how proceeds are distributed in a sale, typically protecting investor capital first.
Drag-Along
A provision allowing majority shareholders to force minority shareholders to participate in a sale on the same terms.
MOIC
Multiple on Invested Capital — a simple return metric calculated as total value received divided by total capital invested.
IRR
Internal Rate of Return — the annualized return on an investment, accounting for the timing of cash flows.
Data Room
A secure virtual repository where a company's financial, legal, and operational documents are organized for investor or buyer review.
Roll-Up
A PE strategy of acquiring multiple smaller companies in a fragmented industry to create a larger, more valuable combined entity.
QoE
Quality of Earnings — a due diligence report analyzing the sustainability, accuracy, and composition of a company's reported earnings.