VCI Institute
The exercise book for private equity.
A gamified private equity practice platform.
Most finance education asks you to watch. This one asks you to answer. Sixty four interactive exercises and a capstone deal, every one of which marks itself, explains itself in red pen, and generates fresh numbers each time you open it.
- You cannot memorise your way through it. The numbers change on every attempt.
- Twelve books, from the three statements to exit, plus a capstone deal that runs end to end.
- Paper LBO trainers, auction rooms, waterfall sandboxes, covenant countdowns.
One payment. Twelve months of access. Also included in VCII All Access at $79 a month.
VCI Institute
The Exercise Book
for Private Equity
Sixty four exercises. Twelve books.
Open it and try one. No sign up.
Try one right now.
No sign up. Fresh numbers every time you press try another.
Answer in millions. Round to one decimal place.
That is one of sixty four. Every one of them marks itself and explains itself the same way.
Get the whole book, $99Twelve books. Sixty four exercises.
Each book is a set of drills, games, sandboxes and index card decks. Work them in order or open whichever one your week demands.
Book 1
Reading the statements
One event, three statements. Make it balance. Revenue is not cash. Red pen audit.
Book 2
Ratios and analysis
The margin ladder, ROE and ROIC, leverage and coverage, the DuPont detective.
Book 3
Working capital and cash
DSO, DIO and DPO. Weather the season. Hunt the leak from EBITDA to cash.
Book 4
Quality of earnings
Sort the nine. Run rate and pro forma. Accept, haircut or reject the add-back table.
Book 5
Valuation fundamentals
Time value, the EV to equity bridge, multiples, peer sets, the tombstone wall.
Book 6
DCF and cost of capital
CAPM, WACC, unlevered free cash flow, terminal value two ways, the sensitivity heatmap.
Book 7
The LBO
The paper LBO trainer, sources and uses, the debt paydown puzzle, covenant countdown, capital stack builder.
Book 8
Returns and fund maths
MOIC and IRR, returns attribution, the waterfall sandbox, carry and catch-up, the J-curve, the IRR sprint.
Book 9
The deal process
Put the process in order. Hold your nerve in the auction room. Deal terms on index cards.
Book 10
Value creation levers
The value bridge calculator, the pricing lever, the procurement lever, the 100-day board.
Book 11
Boards and judgment
The board meeting, five questions before the vote. Evidence, promise or red flag?
Book 12
Exit
Sell now or hold one more year. Who gets the cheque. The exit readiness sprint.
The Deal: the capstone
One company, five chained rounds. Source it, price it, structure it, hold it, sell it. Bid too low and a rival takes it. Lever too hard and the downside breaks you. At the end it re-runs your deal, changing one decision at a time, and tells you the return you left on the table.
Finish it and the Certificate of Completion unlocks.Two ways in.
Buy the book on its own, or take it inside All Access.
On its own
$99 one payment
Twelve months of access, because reps take a year, not a weekend.
- All sixty four exercises across twelve books
- The Deal capstone, five rounds end to end
- Fresh numbers on every attempt, unlimited repeats
- Red pen marking and explanation on every answer
- Certificate of Completion
- Works on a phone, nothing to install
Everything VCII
$79 a month
The exercise book plus the full masterclass library. No minimum term.
- The Exercise Book for Private Equity
- Total Value Creation, APEX, ALBOM, GEOM and AIVCA
- Both CFA Success Accelerator prep packs
- The Strategic Power Pack
- One free certification on day 181, a second on day 366
- Ninety days of PE Simulator at Professional level from day 91
Prices in US dollars. Seven day refund on either route.
Questions? Write to [email protected].