We spend a lot of time discussing the technical side of fair value under IPEV and ASC 820:Calibration, Methodology selection, OPM, PWERM, Waterfalls and Market-participant assumptions. All of these are important. But perhaps it's worth taking a step back. Before deciding how to value an investment, firms first need to manage the valuation process itself. For many VC CFOs and finance teams, quarter-end and year-end valuations are among the most stressful periods of the report