Germán Estrada Mendoza

Germán Estrada Mendoza

Assistant Teaching Professor of Finance
Director of Graduate Studies and Academic Curriculum
ESTEEM Graduate Program · University of Notre Dame

Teaching Portfolio
Focus
Corporate Finance · Valuation & M&A · Entrepreneurial Finance · Fintech
Education
M.S., Notre Dame · Master of Finance, EOI/UPC · B.S. Economics, PUCP
Industry
PwC Deals (Valuation & Economics) · BBVA Equity Research · DIVISO · Fintech founder
Based in
South Bend, Indiana (originally from Lima, Peru)
01 — Teaching Philosophy

Teaching Finance Where It Matters Most — Before the Numbers Exist

I have taught corporate finance, valuation, and M&A across undergraduate and graduate programs for over a decade — from building the first Corporate Finance curriculum for PUCP's undergraduate Finance Major (growing enrollment from under 20 to four sections of 40) to chairing the M&A and Valuation sequence at CENTRUM PUCP's Master in Corporate Finance. At Notre Dame, I apply that same rigor to early-stage companies, where the financial frameworks matter most and the data to populate them barely exists. The philosophy below describes how I approach that challenge.

Conceptualization of Learning

I believe learning happens at the nexus of theory and practice, particularly in finance and entrepreneurship education. Students truly learn when they can translate theoretical concepts into tangible outcomes while developing a deeper understanding of the complexities, challenges, and rewards of entrepreneurial endeavors. Learning is not merely the acquisition of information but an iterative process of experimentation, reflection, and application.

In my experience, students learn most effectively when engaged in solving real-world problems. They need opportunities to test their assumptions, receive immediate feedback, adapt their strategies, and observe the results of their decisions. This experiential approach creates powerful learning moments, particularly in entrepreneurship education, where the dynamic nature of startups demands adaptability and resilience. When students directly engage with industry partners, potential customers, and market realities, abstract concepts transform into practical understanding.

Conceptualization of Teaching

As an educator in finance and technology entrepreneurship, I view my role as that of a guide and facilitator who creates meaningful learning experiences rather than simply delivering content. I embrace a pedagogical approach that blends rigorous academic theory with practical application, drawing from my background in corporate finance, startup development, and academic experience.

My teaching methodology centers on three core principles. First, I create immersive learning environments where students engage with real challenges in the entrepreneurial ecosystem. The Tech Startup Sprint Series and Idea Validation courses I've developed exemplify this approach, enabling students to test business hypotheses in real-world settings. Second, I emphasize individualized mentorship, recognizing each student's unique background, aspirations, and learning style. As a Capstone Faculty Advisor, I meet students where they are and guide them toward where they aim to be. Third, I cultivate a global perspective, deliberately incorporating diverse case studies and experiences from different entrepreneurial ecosystems, particularly leveraging my connections to Latin American markets.

Goals for Students

My primary goal is to develop students who possess both the technical expertise and entrepreneurial mindset necessary to create meaningful impact through innovation. I want students to emerge from my courses not only with fundamental knowledge but with the confidence and competence to navigate the uncertainty inherent in entrepreneurship. Specifically, I aim for students to:

  1. Acquire practical skills in financial modeling, business model development, and technology commercialization for early-stage ventures.
  2. Develop the ability to rigorously test value propositions with real customers through effective customer discovery and market validation.
  3. Cultivate resilience and adaptability when facing the inevitable challenges of the entrepreneurial journey.
  4. Build a professional network that extends beyond graduation, connecting them to mentors, potential teammates, and investors.
  5. Recognize the ethical dimensions and social impact of their entrepreneurial decisions.

The measure of my success as an educator is not simply what students know upon completing my courses but what they can create, the problems they can solve, and their capacity to drive innovation in their chosen fields.

Implementation of Philosophy

I implement my teaching philosophy through curricula that mirror the rhythm and challenges of actual startups. My courses are designed as scaffolded learning experiences that gradually increase in complexity and autonomy.

In the Entrepreneurial Finance course, I use case-based teaching to analyze real startup financial models, moving beyond theory to examine the nuances of early-stage financing. Students develop comprehensive financial projections for actual ventures, receiving feedback not only on the numbers but, more importantly, on the rationale behind their business assumptions. This forces them to research current tech startup metrics and trends beyond the standard business assessment.

My Tech Startup Sprint Series creates an accelerated entrepreneurial environment where students move from idea to minimum viable product in compressed timeframes. This methodology simulates the pressure and pace of startup development while providing a supportive environment for experimentation and learning.

As a Capstone Advisor, I structure regular touchpoints with students throughout their journey, offering guidance that balances direction with discovery. I intentionally challenge assumptions, encourage critical thinking, and help students navigate the inevitable pivots inherent in entrepreneurial development.

I also leverage digital learning tools to extend the learning experience beyond the classroom, collaborating with Notre Dame's Office of Digital Learning and other faculty members who share the same vision. My courses demand students use tools such as Capital IQ, PitchBook, AI tools, and design tools such as Figma and Balsamic, among others.

Professional Growth Plan

My development as an educator is an ongoing journey, informed by continuous reflection, feedback from students, and staying attuned to emerging trends in both entrepreneurship and pedagogy. I regularly evaluate the effectiveness of my teaching methods through student outcomes, particularly by tracking the success of student career trajectories.

Looking forward, I am focusing on three key areas for my own professional growth:

First, I am developing deeper expertise in emerging technologies, particularly artificial intelligence and its implications for entrepreneurship education. Understanding these technological shifts is crucial for preparing students to identify and capture opportunities in rapidly evolving markets.

Second, I am enhancing my pedagogical toolkit by exploring innovative teaching methodologies that can better prepare students for the uncertainty of entrepreneurship. This includes a deeper exploration of simulation-based learning and immersive technologies that create realistic entrepreneurial scenarios.

Finally, I am expanding my global perspective by strengthening connections with entrepreneurial ecosystems beyond the United States, particularly Latin America. These relationships enrich the learning experience by exposing students to diverse business models, cultural contexts, and market opportunities.

Through deliberate reflection on my teaching practice and ongoing professional development, I strive to continuously improve my effectiveness as an educator in service of my students' growth and success.

02 — Courses Taught

Corporate Finance, Valuation, M&A, and Venture Finance — Across Four Institutions

Courses spanning corporate finance, valuation, M&A, fintech, and entrepreneurial finance — taught across graduate and undergraduate programs at four institutions over a decade, plus visiting appointments in Mexico.

ESTM 63607 · Fall 2026

Finance for Tech Ventures

"The Numbers Around the Early Stages"

Case-based course applying corporate finance to ventures with no revenue, no margins, and no history. Students analyze real startup financial models (WeWork, SaaS metrics) using Capital IQ, PitchBook, and AI-driven analysis tools, and build projections grounded in testable business assumptions.

Case method · FinTech tools · Interactive web decks
PUCP · Lima, Peru · 2019–2023

Corporate Finance

"Core Finance for 100+ Undergraduates"

Undergraduate and graduate courses covering financial modeling, NOPAT, ROIC, WACC, cash flow forecasting, capital structure, M&A, and enterprise valuation. Taught in Spanish to 100+ undergraduate and graduate students per semester, with evaluation scores consistently above 90%.

4 years · Distinguished Professor (4×)
PUCP FIN50 · 2026-II

Finanzas Corporativas 1

"Corporate Finance Redesign"

Currently redesigning for a remote-theory / in-person-practice hybrid model. 14-week case-method course at Pontificia Universidad Católica del Perú.

Redesign in progress · 14 weeks
CENTRUM PUCP · 2018–2021

M&A, Valuation & Fintech

"Chair, M&A and Valuation Sequence"

Named Chair in M&A and Valuation for the Master in Corporate Finance at a Triple Crown school (AACSB, EQUIS, AMBA). Owned the M&A and Valuation sequence across graduate programs. Created the Fintech and Financial Innovation course and the Business Valuation course grounded in the CFA® equity research curriculum.

Graduate · MBA · Master in Corporate Finance
UPC Business School · 2009–2013

Business Valuation & Corporate Finance

"From Live M&A and Valuation Work"

Taught Business Valuation (Master in Corporate Finance) and Corporate Finance and Financial Mathematics (undergraduate) from active Latin American M&A and equity research engagements at PwC and BBVA.

Graduate & Undergraduate · 4 years
ESTEEM Program · Year-round

Capstone & Entrepreneurship Sequence

"Advising, Validation, and Product-Market Fit"

I advise ~20 graduate students a year on technology commercialization, market validation, and the financial model a sponsor or investor will actually use. I also teach Idea Validation and Product-Market Fit (co-taught with John Vrionis, Unusual Ventures / Stanford GSB).

~20 students/year · 12-month mentorship
Visiting · Mexico · 2025–2026

International Visiting Faculty

"Finance for Early-Stage Companies"

Universidad Panamericana (Mexico City): finance for early-stage companies and validation of tech ideas. Universidad de Monterrey (UDEM): invited as Global Professor to advise on building entrepreneurship into the curriculum across colleges.

International Week · Global Professor
03 — Teaching Readiness

Courses I Am Prepared to Teach

Corporate Finance

4 years teaching NOPAT, ROIC, WACC, DCF, and capital structure at PUCP, undergraduate and graduate. Distinguished Professor 4×.

Entrepreneurial Finance

Finance for Tech Ventures at Notre Dame — case method, startup financial modeling, early-stage valuation for pre-revenue companies.

Fintech & Financial Innovation

Created CENTRUM PUCP's Fintech and Financial Innovation course (Master in Corporate Finance). Founded a fintech startup (cloud financial platform for Latin American SMBs). Continuing teaching area.

Investments & Valuation

Chaired the M&A and Valuation sequence at CENTRUM PUCP. BBVA equity research covering Energy, Consumer, and Agribusiness for institutional investors. PwC Deals: fairness opinions, acquisitions, and restructurings ($25M–$100M). Business Valuation course grounded in CFA® equity research curriculum.

Financial Modeling

Core pedagogy: students build financial models from first principles — NOPAT to ROIC to free cash flow — not from templates. Students use Capital IQ, PitchBook, and AI tools for real-time analysis.

Mergers & Acquisitions

PwC Deals: led acquisitions, divestitures, fairness opinions, and restructurings ($25M–$100M). Chaired the M&A and Valuation sequence at CENTRUM PUCP's Master in Corporate Finance.

04 — Interactive Course Materials

Live Course Materials — Click Into a Finance Session

Each session below is a purpose-built interactive teaching tool with animated diagrams, step-by-step case reveals, and embedded assessments. Click any card to experience a finance session exactly as my students do.

Finance for Tech Ventures · ESTM 63607

A course on how capital works inside early-stage technology companies — before and immediately after product-market fit, where standard valuation frameworks are irrelevant and financial survival depends on judgment more than formula. Start with the course overview and syllabus, then step into the sessions and the interactive Cloud Analytics case tools.

Course Document

Course Overview

"This is not a Corporate Finance course. It is a course on how capital works within early-stage technology companies." The organizing logic, learning outcomes, and the 50% oral-defense assessment structure.

Course Document

Syllabus & Schedule

The full 13-week schedule: assessment breakdown, grading rubrics, academic policies, and the platforms (Capital IQ, PitchBook, AI tools) students are required to use.

Session 1

What's Value? — The WeWork Case

Opens with the question every finance student thinks they can answer. Uses WeWork's trajectory and the enterprise-value-versus-equity-value distinction to dismantle the assumption that valuation equals value. Rich SVG diagrams, step-by-step case reveals.

Session 2

WeWork, the Economics

Unit economics, J-curve visualizations, and the distinction between growth and value creation. Students learn to read a business model's economics before its narrative.

Cloud Analytics Pro I · Case Tool

Cloud Analytics: Step-by-Step

Students rebuild the solution workbook cell by cell — Day 0 founders' cash and opening balance sheet, Day 1 capex and depreciation, then P&L, cash flow, and ROIC, always in that order. "If you start with ROIC, you are dividing two numbers you cannot defend."

Cloud Analytics Pro I · Case Tool

Why Net Income Is Not Cash

A six-scene interactive proof: cash converts to a fixed asset rather than disappearing, depreciation is the non-cash line the income statement deducts, and the bridge adds it back to reach cash from operations. Ends with students writing their own explanation and checking it against a model sentence.

Idea Validation · ESTM 60236

Understanding customer demand is the foundation of any revenue forecast — these sessions teach students to validate the assumptions that drive every financial model, before writing a single line of code.

05 — Public Teaching

Teaching Corporate Finance Beyond the Classroom

I publish corporate finance explainers on my YouTube channel, breaking down core valuation and financial modeling concepts for a public audience of students and practitioners beyond Notre Dame and PUCP. These are my three most-viewed videos.

Corporate Finance · NOPAT · 12K views

What Is NOPAT? Definition, Formula, and Calculation

Walks through Net Operating Profit After Tax from first principles: starting with operating income, removing the tax shield on interest, and arriving at the profit a company generates from operations alone — regardless of capital structure. The building block for ROIC and free cash flow. Taught in Spanish.

Corporate Finance · ROIC vs. WACC · 5K views

Reading ROIC vs. WACC: When Does a Company Create Value?

The central question in corporate finance: is the company earning more than its cost of capital? This video teaches students to interpret the ROIC-minus-WACC spread, identify value creation versus value destruction, and connect that spread to enterprise valuation. Taught in Spanish.

Corporate Finance · Free Cash Flow · 3.5K views

Building Free Cash Flow: FCFF and FCFE from Scratch

Step-by-step construction of Free Cash Flow to the Firm (FCFF) and Free Cash Flow to Equity (FCFE). Starts from NOPAT, adds back depreciation, subtracts capex and working capital changes, then shows the bridge to equity holders after debt service. The foundation of every DCF valuation. Taught in Spanish.

06 — Teaching Recognition

Teaching Effectiveness & Professional Recognition

Student evaluation scores consistently above 90% across 4 years of teaching corporate finance at Pontificia Universidad Católica del Perú (PUCP), one of Latin America's top-ranked business programs. Recognized annually by both the Faculty of Social Sciences and the graduate business school CENTRUM PUCP. These scores reflect validated institutional student evaluations with a response rate above 50%; the Distinguished Professor award is given only to faculty exceeding 90%. University of Notre Dame teaching evaluations available upon request.

2023

Distinguished Professor — PUCP Faculty of Social Sciences

Corporate Finance 1 · Student rating: 90% (undergraduate sections, 100+ students)

2022

Distinguished Professor — PUCP Faculty of Social Sciences

Corporate Finance 1 · Student rating: 91% (undergraduate sections, 100+ students)

2021

Distinguished Professor — PUCP Faculty of Social Sciences

Corporate Finance 2 (97.25%) and Corporate Finance 1 (90%), undergraduate sections

2020

Academic Excellence Award — CENTRUM PUCP Graduate Business

Part-time Professor at a Triple Crown school (AACSB, EQUIS, AMBA) · Diploma and Letter DAPN-174

2011

Peru's Best Equity Research Team — LIRA Award

Latin America's Investor Association. BBVA Banco Continental, Corporate & Investment Banking.

CFA Institute Research Challenge

Faculty Advisor, PUCP Team · 2021–2026

2024

National Champion & Sub-Regional Champion

Americas (Atlantic Islands & Latin America). Equity research, financial modeling, and presentation to industry judges.

2023

National Champion

CFA Institute Research Challenge Perú

2021–2026

Six Consecutive Local Finals

National runner-up in 2021, 2022, 2025, and 2026. Students produce equity research reports, build financial models, and present to investment professionals.

07 — Syllabi

Course Syllabi & Documents

WEB

Finance for Tech Ventures — ESTM 63607

Fall 2026 · University of Notre Dame View Syllabus →
PDF

Idea Validation — ESTM 60236

Summer 2026 · University of Notre Dame View Syllabus →
PDF

Product Market Fit Lab — ESTM 60238

Fall 2026 · University of Notre Dame · Co-taught with John Vrionis View Syllabus →