2nd round interview - Case study - thoughts?

Hi All,

Made it to the 2nd round with an international VC and was given a brief case study to prepare at home. As I don't have too much experience with early stage/pre-revenue companies, would appreciate your thoughts / ideas on how to go about it.

Basically, case is about a tech company requiring additional funding (there's some info on previous rounds) for finalising testing & commercialisation. The case is light on numbers, no P&L projections, only some high level info on capex/opex. No revenue info either, although some rough data points on likely price. I'm asked to give thoughts on valuation, ownership and exit.

My thoughts: Seems to me like more of a market sizing question (i.e. thinking of a top-down approach, research how big is the market and work backwards to likely valuation multiples and our equity / ownership), with some modelling (not too detailed, as missing key info so can't build revenue bottom-up), but would appreciate thoughts from fellow monkeys with more experience in these scenarios/situations.

Thanks!