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Erudite AfricaCenter of Excellence

← Erudite Africa Center of ExcellenceCapital MarketSchool of Investment BankingIntermediate to Advanced

Private Equity and Venture Capital

How PE and VC funds raise money, invest, add value and exit, and how it works in Ethiopia

From fund economics and deal screening to a full investment committee paper: value, structure, grow and exit a growth investment in a fictional Ethiopian agro-processor, with FX and ESX exit planning.

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What you will be able to do

  • Explain fund structures, the PE and VC investment cycle and how returns are generated and shared
  • Screen and evaluate investment opportunities and describe the Ethiopian PE and VC landscape and its constraints
  • Value early-stage and growth companies, build cap tables and read term sheets
  • Write and defend an investment committee paper with returns in Birr and US dollars
  • Structure investments for downside protection, FX and exit in the Ethiopian context
  • Plan value creation and portfolio monitoring, including ESG and impact
For
Investment officers of PE and VC funds, DFIs, banks' investment units, corporate venture teams and family offices (early modules); associates, principals and fund managers (later modules). Learners should have completed course 3.a Level 1 or have equivalent financial analysis skills.
Study time
About 6 hours online, in 5 modules (40 hours in the classroom version)
Each module
Short lessons, animated visuals, Ethiopian examples, decisions to make, the laws and directives that apply and worked calculations, then a quiz
Assessment
A 20-question final exam; pass mark 70%
Certificate
Erudite Africa Center of Excellence certificate of completion
Access
Module 1 free for registered users; the full course, exam and certificate for subscribers

The 5 modules

  1. Module 01Free previewPE and VC basics and the Ethiopian landscapeHow private equity and venture capital funds are built, paid and measured, and who invests in Ethiopia under which rules.6 lessons · 60 min · quiz
  2. Module 02Sourcing, screening, valuation and term sheetsFind and screen deals, value a young or growing company, build a cap table and read a term sheet in plain language.6 lessons · 65 min · quiz
  3. Module 03Investment thesis and the IC paperBuild the investment case for a growth deal in Batu Agro Foods PLC and write an IC paper that can survive a hard committee.6 lessons · 70 min · quiz
  4. Module 04Structuring for protection and creating valueChoose instruments and rights that protect the downside in Ethiopia, then build the 100-day plan and the governance, finance and add-on moves that grow value.6 lessons · 70 min · quiz
  5. Module 05Portfolio monitoring, ESG, exits and the capstone ICMonitor investments through KPIs, board work and ESG standards, plan the exit and FX repatriation, and present the full Batu IC paper.6 lessons · 70 min · quiz
  6. Officer simulationA quarter as investment associate at Bank A Capital's growth fundWork as investment associate, private equity: 12 real-life items, decisions with consequences and a hand-over note. Pass with 70% to qualify for the certificate.
  7. Final examFinal exam and certificate20 applied questions across all 5 modules. Pass with 70% to download your certificate.

Built on

  • Erudite Africa course specification 3.j: Private Equity and Venture Capital, Levels 1 and 2 (October 2026)
  • Erudite Africa Training Module: Ethiopian Context, program overview and regulatory register (October 2026)
  • Investment Proclamation No. 1180/2020, Investment Regulation No. 474/2020 and Ethiopian Investment Board Directive No. 1082/2025; Commercial Code Proclamation No. 1243/2021
  • Capital Market Proclamation No. 1248/2021; ECMA Directive No. 980/2024; ECMA collective investment scheme and venture capital fund rules (reported, to confirm); ESX Rulebook (December 2024)
  • NBE directives as listed in the lessons: FXD/01/2024, FXD/04/2026, SBB/92/2024; NBE Monetary Policy Committee release No. 7 (July 2026)
  • IFC Performance Standards on Environmental and Social Sustainability, GIIN IRIS+ and the 2X Criteria

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.