Valuations for Private Equity and Venture Capital Transactions

PE and VC transactions turn on two numbers: the valuation at which primary equity is issued, and the relative value of the preferred instruments the investor receives. Getting either wrong costs the company either dilution it should not have given, or term-sheet protections it cannot defend at exit. Transique prepares independent pre-money and post-money valuations, preferred-versus-common analyses, ESOP valuations and pre-IPO cross-over valuations that stand up to investor-committee scrutiny and auditor review.

Our PE and VC valuations are prepared under the International Valuation Standards, and — for companies preparing for an IPO — in alignment with SEBI ICDR pricing frameworks and Ind AS 113 fair-value measurement principles.

When you need us

You are raising a PE / VC round and need an independent valuation to benchmark investor indications.
You are a PE or VC fund carrying out periodical valuations on portfolio companies (see Portfolio Valuation page for fund-level engagements).
You are issuing ESOPs and require a defensible fair-market-value determination for grant pricing.
You are structuring a convertible instrument (CCPS, OCDs, SAFE-equivalents) and need relative-value analysis.
You are raising a pre-IPO round and need a valuation that will reconcile with post-listing IPO pricing.

What we deliver

Pre-money and post-money enterprise-value and equity-value analysis.
Comparable-companies and comparable-transactions multiples analysis.
DCF-based valuation with sensitivity, scenario analysis where relevant.
Preferred vs common allocation using Option-Pricing Method (OPM), PWERM or hybrid frameworks.
ESOP fair-market-value report using Black Scholes or Binomial valuation methods at grant date.
Written valuation report compliant with International Valuation Standards.

Our methodology

Scope definition. Purpose, reference date, instruments, and reporting audience clarified in writing.
Input gathering. Historical financials, projections, cap table, existing investor rights, industry data, comparable universe.
Methodology selection. DCF, relative, or asset-based — typically triangulated.
Sensitivity and allocation. Preferred-share features (liquidation preference, participation, conversion, anti-dilution) modelled through OPM.
Review and sign-off. Internal technical review; senior-partner sign-off; report issued as IBBI-Registered Valuer.

Technical grounding

OPM / PWERM / hybrid allocation frameworks tailored to term-sheet specifics.
Sensitivity to discount rate, terminal growth, and revenue-trajectory inputs.
Calibration to recent primary / secondary transactions in the subject company (when available).

Representative engagements

Client/s	Location	Engagement type	Sector/s
Krazybee Services	Bengaluru	Business Valuation for Fund Raising	Fintech (NBFC)
Finnovation Tech Solutions (Kreditbee)	Bengaluru	Business Valuation for Fund Raising	Fintech (Marketplace)
Careerera	Noida, NCR	Business Valuation for Fund Raising	Edtech
PAN Healthcare	Rajkot, Gujarat	Business Valuation for Fund Raising	Personal Care

Frequently asked questions

Is a PE / VC valuation the same as a Rule 11UA valuation?

No. Rule 11UA under the Income-Tax Rules (now Rule 57 of the Income-tax Rules, 2026) prescribes a net-asset-value formula for unquoted equity shares. A PE / VC transaction-context valuation may be more flexible in methodology. Where a single report must serve both purposes, we scope accordingly at the engagement letter stage.

Who signs the report?

Transique Valuation Advisors is an IBBI-Registered Valuer Entity for Securities or Financial Assets. Section 56(2)(viib) of the Income-Tax Act (angel tax) has not applied to share issues since 1 April 2025; where any other law or regulator requires a SEBI-registered merchant banker’s valuation, a merchant-banker co-signature is arranged as required.

Can you value convertible preferred instruments with complex anti-dilution?

Yes. Full-ratchet, broad-base and narrow-base weighted-average formulas are each modelled through OPM with the relevant ratchet triggers stress-tested in scenario analysis.

How does an ESOP valuation differ from a transaction valuation?

ESOP valuations are typically prepared on a fair-market-value basis of the underlying equity (or fair value of the option itself under Ind AS 102 / IFRS 2 for accounting purposes). The reference period, discount for lack of marketability, and control-premium considerations differ materially from transaction-context work.

Talk to us about your funding round

Use the Consult Us form at the top of this page, or book a call. A partner responds within one business day.

Book a 30-minute consultation Email us