Antera: the challenges of entrepreneurial capital management

• Autor(a) principal: Campani, Carlos Heitor
• Data de Publicação: 2016
• Outros Autores: Maranho, Flávia Schwartz, Alvarenga, Henrique de Castro Augusto, Lima, Max Borges Alves, Guimarães, Renato Silveira
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: Administração (São Paulo. Online)
• Texto Completo: https://raep.emnuvens.com.br/raep/article/view/470
• topic: Private equity; Venture capital; Portfolio selection; Investees; Teaching case; Capital empreendedor; Seleção de carteira; Empresas investidas; Caso de ensino

This case describes the challenges faced by a Private Equity and Venture Capital (PE&VC) manager, whose growth is driven by the increasing demand for seed capital in Brazil. It also addresses the consequent changes and adjustments that the domestic market requires from such investment model that, in spite of already having been validated internationally, still needs more development in the country. The metrics used to assess risk and return of each project and the ordering of candidate projects, the company's expansion with the arrival of a new investment fund in the portfolio and the characteristic illiquidity of the investment are behind the dilemmas faced by the partners. In this context, the professor should work with the students about the implications of the elements discussed in the case and the alternatives for the manager, in order to build a sustainable strategy for investees selection.