Financing Academy
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Section 1
Financing basics
The common language: types of money, true cost and getting ready
0 / 4
Unit 1: the common language۰ / 2
Unit 2: working capital and readiness۰ / 2
Section 2
The real cost of financing in Iran
Today's market rates, hidden costs and instruments compared in numbers
0 / 12
Unit 1: rates today۰ / 3
Unit 2: hidden costs۰ / 3
Unit 3: instruments compared۰ / 3
Unit 4: deciding and negotiating۰ / 3
Section 3
Banks and the supply chain
Guarantees, letters of credit, bills and factoring
0 / 3
Unit 1: banks۰ / 1
Unit 2: the supply chain۰ / 2
Section 4
Capital markets
Crowdfunding, sukuk and listing
0 / 3
Unit 1: crowdfunding۰ / 1
Unit 2: bonds and listing۰ / 2
Section 5
Equity, startups and deals
Fundraising, knowledge-based companies and M&A
0 / 4
Unit 1: raising capital۰ / 2
Unit 2: knowledge-based firms and deals۰ / 2
Section 6
Fixed income and debt securities
Price, yield, duration, the yield curve and sukuk structures, built on CFA fixed income
0 / 9
Unit 1: bond maths۰ / 3
Unit 2: Iran's debt market۰ / 3
Unit 3: sukuk and issuing۰ / 3
Section 7
Advanced corporate finance
Cost of capital, valuation, capital structure, term sheets, project finance and sukuk
0 / 6
Unit 1: cost of capital and value۰ / 2
Unit 2: structure and contracts۰ / 2
Unit 3: projects and advanced sukuk۰ / 2
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Market and investors
Simulators
Cash cycle simulator
Cash tied up in receivables-
Freed today by discounting bills-
Yearly cost of discounting-
Cost per 100 toman of sales-
Valuation and dilution simulator
Post-money value-
Investor's stake-
Founders' stake after the round-
Value of the founders' stake-
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- Section 1Financing basics
- Section 2The real cost of financing in Iran
- Section 3Banks and the supply chain
- Section 4Capital markets
- Section 5Equity, startups and deals
- Section 6Fixed income and debt securities
- Section 7Advanced corporate finance
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Financing glossary
Key terms in English and Persian with a short definition.
- Anti-dilution ضد رقیق‌شدن
- A clause that adjusts the investor's stake if a later round is priced lower.
- Blocked Deposit سپرده مسدودی
- Part of the money the bank holds until the end; it raises the effective cost.
- Cash Conversion Cycle چرخه تبدیل وجه نقد
- Stock days plus collection days, minus payment days.
- Collateral وثیقه
- An asset the lender can take if the debt is not paid.
- Compound Rate نرخ مرکب
- The yearly rate including the effect of paying profit in instalments.
- Corporate Venture Capital (CVC) سرمایه‌گذاری خطرپذیر شرکتی
- Venture investment by a large company for financial and strategic aims.
- Crowdfunding تأمین مالی جمعی
- Raising money from many investors for a defined project through licensed platforms.
- Debt بدهی
- Money repaid with profit on a set schedule; ownership does not change.
- Dilution رقیق‌شدن
- The fall in existing shareholders' percentage when new shares are issued.
- Discounted Cash Flow (DCF) جریان نقدی تنزیل‌شده
- Today's value of the cash a company will generate in the future.
- Discounting تنزیل
- Turning a deferred instrument into cash early, less a charge for time.
- Due Diligence بررسی موشکافانه
- Financial, commercial, legal and operational review before a deal.
- e-Bill of Exchange برات الکترونیک
- A deferred payment instrument issued by the buyer that the seller can discount at a bank.
- Earn-out پرداخت مشروط
- Part of the deal price that depends on the company's future performance.
- Effective Cost هزینه مؤثر
- The yearly cost with all fees, guarantees and deposits; the figure for comparing offers.
- Equity سهام
- Ownership of part of a company; no repayment, but a share of profit and decisions.
- Factoring فکتورینگ
- Selling receivables to a financier to get paid sooner.
- Free Float سهام شناور
- The part of the shares that trades freely in the market.
- GAM Certificates اوراق گام
- Bank-issued deferred certificates for production chains that can be transferred or discounted.
- General Partner (GP) شریک عمومی
- The fund manager who makes the investment decisions.
- Guarantee ضمانت‌نامه
- A bank, insurer or fund undertaking to pay if you fail to meet your obligation.
- IPO عرضه اولیه
- The first sale of a company's shares to the public on an exchange.
- Letter of Credit (LC) اعتبار اسنادی
- The buyer's bank undertaking to pay the seller against compliant documents.
- Limited Partner (LP) شریک محدود
- An investor in the fund.
- Liquidation Preference حق تقدم در نقد شدن
- An investor's right to get their money back first in a sale or wind-up.
- Market Maker بازارگردان
- A firm that keeps securities liquid by buying and selling continuously.
- Net Asset Value (NAV) خالص ارزش دارایی‌ها
- The value of a fund's assets minus its liabilities.
- Nominal Rate نرخ اسمی
- The stated contract rate, before payment timing and fees.
- Participation Certificate گواهی شراکت
- The certificate an investor in a profit-sharing project receives, showing their right to its profit.
- Post-money Valuation ارزش پس از پول
- Pre-money value plus the new money.
- Pre-money Valuation ارزش پیش از پول
- The company's value before new money comes in.
- Recourse حق رجوع
- If the debtor does not pay, the financier can claim from the seller.
- Reverse Factoring فکتورینگ معکوس
- A programme set up by a large buyer so its suppliers get paid early on the buyer's credit.
- Sponsor Contribution آورده متقاضی
- The part of a project's cost the company funds itself.
- Sukuk صکوک
- Islamic securities that finance an asset, sale or project from the capital market.
- Term Sheet ترم‌شیت
- A summary of the main investment terms before the final agreement.
- Underwriter متعهد پذیره‌نویسی
- A firm that commits to buy any securities left unsold.
- Valuation ارزش‌گذاری
- Working out what a company or stake is worth, using methods such as DCF and multiples.
- Venture Capital (VC) سرمایه‌گذاری خطرپذیر
- Investment in young, high-growth, high-risk companies.
- Working Capital سرمایه در گردش
- Money needed for day-to-day operations: stock and receivables minus what you owe suppliers.
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