Minority Growth Model Test

Posting again in IB rather than PE as I've had no luck there-

I'm trying to prepare for a 90-min "minority growth" model test (Sunday evening) that will be built from a blank excel. Minority investments and growth equity are extremely uncommon in my coverage group, so I'd appreciate any model examples or guides that have proven helpful for others.

I bought the BIWS growth equity course a while ago for another process and it was the opposite of helpful. The WSO course is also useless and it's about 12 years old. So far, the only thing I've found is a post on here describing some nuances (liquidation pref, etc).

Thanks in advance!

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2 Comments

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Based on the most helpful WSO content, here are some actionable steps and resources to prepare for your "minority growth" model test:

Understand Key Nuances in Minority Growth Models:
- Focus on concepts like liquidation preferences, anti-dilution provisions, and participation rights. These are critical in minority investments and growth equity scenarios.
- Review the differences between control and non-control investments, especially how valuation and return metrics (IRR, MOIC) are impacted.
Leverage Financial Modeling Resources:
- Utilize the "3 Statement Model," "DCF Modeling Training - Free Guide," and "Accretion Dilution Model" resources available in the WSO financial modeling section. These can help you build a robust foundation for creating models from scratch.
- Access the financial modeling templates (.xlsx) provided by WSO to practice building models efficiently.
Interview Prep for Growth Equity:
- Review the "101 Investment Banking Interview Questions" and "Private Equity Interview Questions" sections. These often include technical questions that overlap with growth equity modeling.
Community Insights:
- Engage with the WSO forums to find threads discussing similar tests or challenges. The "Growth Equity Recruiting from IB" and "Growth Equity vs. Investment Banking for Undergrads" threads might have relevant insights.
Practice Building from Scratch:
- Since the test requires starting from a blank Excel sheet, practice creating a simplified growth equity model. Include:
  - Revenue projections based on historical growth rates.
  - EBITDA margins and adjustments.
  - Cap table analysis to reflect minority stakes.
  - Sensitivity analysis for different exit multiples and growth rates.
Supplementary Resources:
- If the WSO course and BIWS course were unhelpful, consider exploring other platforms or reaching out to peers who have taken similar tests for guidance.

For more detailed guides or templates, you can explore the WSO financial modeling resources and templates section. Good luck with your test!

Sources: Minority nervous for BB internship, Minority in London and IB in general, Minorities in PEVC - ask me anything, Growth Equity vs. Investment Banking for Undergrads - Thoughts?, Resources to learn more about growth equity investing/ tech

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Minority Growth Model Test

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