Valuation of "Venture Capital" funds

The diploma thesis deals with the issue of valuing venture capital fund investments in startup companies during their early development stages. These investments are characterized by a high degree of uncertainty, specific transaction structures, and limited data availability, which complicates the application of traditional valuation methods. The aim of the thesis is to propose a comprehensive and practically applicable approach that takes into account the distinction between the valuation of the startup itself and the valuation of the investor's stake, while also being grounded in available theoretical knowledge. The theoretical part defines the concept of "venture capital," its significance in the business environment, and the key principles of valuation in this context. The practical part demonstrates the application of the proposed approach using real examples of Czech startups, based on publicly available data they have published, thereby verifying its usability and comprehensibility.