VC Interview Help - 30min Excel Test (what to expect?)

Hi guys,

I have some interviews with a few VC shops in Europe coming (mostly series B/C). They all seem to ask for a 30min excel case study. Not sure what to expect. Would it be something like cap table modelling + return analysis (similar to this on Macabus: https://macabacus.com/excel/templates/venture-cap…)

I am familiar with the traditional 60min LBO test. 

Thanks a lot!

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