Valuation as a Process

Valuation is perhaps one of the most fascinating fields of enquiry. It is misunderstood, it is the misfit child of finance, the evil we have to live with.

The funny thing is that while we like to place the word in a box usually associate with accounting, it tends to permeate our daily lives. In Venture Capital, valuation has lately acquired a bad name, mainly because most people fail to put all the pieces together.

Among my colleagues, I know that there are some who first of all understand that valuation is not a figure (myth) but a process of determining potential…