This course explores a comprehensive set of financial situations that arise in high-growth and high-risk enterprises. It covers early- to late-stage enterprises to provide perspective on how the maturity of an organization influences the nature and structure of financing and valuation. The private equity cycle involves several steps: fundraising, investment, and exit. The terms and success at exit influence future fundraising, and hence facilitate the next round of investment, and so forth. EFPE focuses primarily on the investment phase of the private equity cycle and examines the investment strategy, management, valuation, and structure of enterprises at various stages of development before becoming public companies. The classes are sequenced to reflect the progression of investments from early to late stage.