Participant guide
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One qualification. One final.

Earn the seat. Defend the decision.

A hard PE fundamentals threshold protects the standard. Excel proves the analysis. The online final tests whether the team can defend every assumption before an Investment Committee.

20MCQ questions
14/20hard team-average floor
15teams reach the final
R1
5–17 SeptemberOnlineAll registered teams

Qualification

Phase A

PE Fundamentals MCQ

20questions
5′time limit
100maximum points

Each question is worth 5 points. The test measures speed, financial literacy, valuation, accounting, and basic PE concepts. Every team member completes the test individually.

Phase B

Excel Investment Tear Sheet

Each team is assigned one of five fictional companies and receives three years of financial data.

01Interpret the three-year financial statements
02Calculate relevant operating and financial metrics
03Assess company performance
04Analyze the investment opportunity
05Derive an INVEST / DO NOT INVEST conclusion from quantitative evidence
Round 1 · Phase APractice question

Fast arithmetic. Exact logic.

A fund buys a company at an enterprise value of 8.0× EBITDA. EBITDA is $25M. The company carries $80M of debt and $10M of cash. What is the equity value?

EV= 8.0 × $25M = $200Mthe value of the whole business

Equity= 200 − 80 + 10 = $130Mthe value attributable to shareholders

Twenty questions in five minutes means about 15 seconds per answer.

The preparation library explains the core terms before the qualification opens.

Hard eligibility rule

The team average must be at least 14 correct answers out of 20. A team below this floor is ineligible, even if its Excel submission is excellent.

Phase A25%MCQ score
Phase B75%Excel score
Round 1100%final qualification score

Final Round 1 Score = (Phase A Score × 25%) + (Phase B Score × 75%). The 15 highest-scoring eligible teams advance.

Final
26 SeptemberOnline15 teams

Investment Committee

Finalists receive the investment opportunity and prepare one Investment Analysis Presentation with a clear INVEST / DO NOT INVEST recommendation.

The presentation must explain
  1. Investment thesis
  2. Company and business analysis
  3. Financial analysis
  4. Key metrics and calculations
  5. Why the team chose INVEST / DO NOT INVEST
  6. Key assumptions
  7. Risks and potential downside
  8. Overall investment strategy
  9. What would make the team change its decision
  10. Why the recommendation offers the best risk-adjusted return
Judges challenge

The panel does not ask teams to repeat the slides. It attacks the logic behind them.

  • assumptions
  • calculations
  • financial performance
  • investment thesis
  • risks and downside
  • inconsistencies
  • alternative scenarios
  • whether the team understands its own model
15′Team presentation

Present the recommendation and walk judges through the evidence behind the decision.

10′Investment Committee Q&A

Defend the model, assumptions, downside case, and investment thesis under challenge.

FormatOnline

All 15 finalist teams participate online under the same timing, access conditions, and judging standard. The final simulates a real PE Investment Committee.

03Official timetable

September. Date by date.

All dates refer to 2026. Exact submission times and links will be sent through the official participant channel. Unless stated otherwise, the organizer uses Almaty time (UTC+5).

01Deadline

Registration closed

Registration is closed. New teams are no longer accepted.

0224 hours

Phase A · PE Fundamentals MCQ

The test remains available for one 24-hour access window. Exact opening and closing times will be sent to registered teams.

03About 1.5 weeks

Phase B · Excel Investment Tear Sheet

The case data is released immediately after Phase A. Teams submit one native Excel workbook by the Phase B deadline.

047 days

Scoring and quality review

Organizers verify the MCQ eligibility threshold, grade the Excel work, and quality-check the ranking.

05Announcement

Finalists confirmed

The 15 highest-scoring eligible teams receive the final instructions and case access.

06Online

Investment Committee Final

Each finalist completes a 15-minute presentation and 10-minute judge Q&A. Final results are announced the same day.

07Fulfilment

Prizes and internship offers

Prize payments and internship coordination require at least seven days after the final to complete.

Make the recommendation. Own the model.

Open participant guide