School of Accounting and Finance (SAF) student team, Warrior’s Capital, students Mobeen Malik, (4A), Hasanain Habib-Nayany, (4A), Ismail Mian, (3A) and environment and business student, Hamza Ramzi, (4A), competed in the Pacific Venture Capital Competition (PVCC) in Vancouver, BC on February 24, 2016.
The competition analyzed a Quadriga Fintech Solutions Corp. A company which operates in the digital currency/bitcoin space. The company provides a wide range of innovative products and services, including Canada’s longest-running Bitcoin trading platform, merchant payment processing platform, and Canada’s first R&D lab for Blockchain technology.
The Warrior’s Capital made strong and insightful business and venture capital evaluations with team member Ismal Mian explaining their process.
Essentially Quadriga Fintech Solutions Inc. is a player in the crypto-currency and financial technology space dealing with bitcoins and other innovations. We valued Quadriga by analyzing the industry, their market position, and growth potential.
Mian said their teams’ biggest challenge was working with no previous revenue for the company.
Analyzing these companies is tough because they have no solid business yet, for example we had trouble projecting future revenues for the company because they did do not currently have any revenue what so ever. Our strengths were having a strong technical background in valuing companies, our interest in entrepreneurship and finance, as well as our past experiences which allowed us to be confident in our analysis and presentation skills.
Competition teams choose to compete either in the Entrepreneurship or the Venture Capital category. The Entrepreneurship stream of the competition provides students an opportunity to showcase their innovative products or business ideas to elite venture capitalists and successful entrepreneurs. For aspiring venture capitalists, PVCC is an excellent opportunity to demonstrate their analytical and business valuation skills to preeminent members of the venture capital, private equity and investment banking industries.
The Warrior’s Capital team made it to the semi- final round which gained an invitation to the final event in Vancouver, but was not one of the final competitors in the Venture Capital category.
PVCC is the largest student run entrepreneurship and venture capital competition in North America and the competition is in its 8th year. It has grown to over 400 competitors from over thirty universities globally, and over 250 conference delegates. It’s designed as a national stage for undergraduate and MBA students to present business ideas and financial valuations to an audience of entrepreneurial leaders, senior venture capitalists, and top industry professionals across North America.
Mian speaks highly of their progress and semi-final success.
We learned a lot about how to value start-ups as we had previously been focused on more established companies. We gained valuable insight into the Venture Capital industry and the key factors those firms look at when deciding whether to invest in a company or not.
This is the first time an SAF team has competed in the Pacific Venture Capital Competition. Mian and his team hopes this isn’t the last time.
This has been an amazing opportunity to learn more about the Venture Capital and Private Equity industry while meeting new people from around the world, and exploring a new city. We are very happy to have represented the University of Waterloo at the conference and have made it to the final stages of the competition. We hope this opens the door for Waterloo students to not only attend the conference in the future, but also win the competition!