Presentation for DTU Vækstfonden and more

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1 Presentation for DTU Vækstfonden and more

2 Vækstfonden i dag

3 Vækstfondens strategi VF s nye strategi understøtter... Finansiel afkast VF s mission og vision VISION At det danske venturemarked bliver det mest velfungerende i Europa Markedet tøver Innovation MISSION At styrke udvikling og fornyelse i den danske økonomi ved at sikre finansiering til lovende små og mellemstore virksomheder

4 Vækstfondens 3 forretningsområder Direktion Christian Motzfeldt Adm. Direktør Direkte investeringer Fund of Funds Vækstkaution Tech.Ventures Life Science Mezzanin Beskrivelse Direkte investeringer i tidligt stadie SMV er. Investeringer gennem egenkapital og (konvertible) lån. Investering i ventureselskaber med fokus på investeringer i tidlig stadie SMV er og mindre buy-outs. Lånegarantier tilbydes til SMV er i samarbejde med danske banker. Investerings størrelse DKK 2-50 mio. DKK mio. DKK 0-5 mio. - lånebeløb Investerings medarbejdere Investeringer per år DKK mio. DKK mio. DKK 200 mio. garantibeløb

5 Fund of funds aktiviteter Mere sammenhængende marked Life sciences IT/industriteknologi SeeD Capital Danmark Tidligere faser Senere faser

6 Vækstfondens positionering af Vækstkaution og Direkte Investeringer Risiko Private equity og mezzaninkapital Venturekapital Seed-investorer VækstKaution VF s DI Pengeinstitutter Innovationsmiljøer

7 Investeringsinstrumenter for direkte investeringer Egenkapital Ejerandel Investering på 1-50 mio.kr. over investeringshorisont Ofte i flere investeringsrunder Investerer sammen med andre investorer Andel af værdistigning ved exit Mezzaninlån Lån uden ejerandel Efterstillet andre kreditter Finansiering mellem 1-5 mio. kr. Øvrig finansiering fra ejer(e) Grundrente + resultatafhængigt tillæg, typisk baseret på omsætning

8 Udvalgte porteføljevirksomheder

9 Investeringsinstrumenter for Vækstkaution Virksomhedens størrelse 1. Maks. 100 ansatte 2. Maks. omsætning 295 mio. kr. eller balance maks. 200 mio. kr. 3. Uafhængighed Lånet Lån min kr. og maks. 5 mio. kr. Rente m.v. på lån aftales med pengeinstitut Dækning: 75% af pengeinstituttets tab efter sikkerheder og øvrige kautioner Kautionsperioden er 3-10 år Kautionspræmie p.t. 1,25% p.a. Stiftelsespræmie er p.t. 2 %

10 Challenges

11 Denmark is good at founding companies New companies as a % of all companies per year 14% 12% 10% 8% 6% 4% 2% 0% Sverige Finland UK Holland USA Danmark Norge Kilde: Eurostat

12 but can be better at helping them develop % of high-growth companies among start-ups 14% 12% 10% 8% 6% 4% 2% 0% Danmark Norge Finland Sverige UK Holland USA Note: Vækst på mere end 60% i perioden Kilde: Vækstredegørelse

13 Challenge nr. 1 The Vicious Circle Missing skills Missing capital

14 Challenge nr. 2 Spoon-feeding is the norm for financing today Million Norge Finland Sverige Danmark Holland UK USA Kilde: VentureEconomics og EVCA

15 Challenge nr. 3 Our global network isn t strong enough

16 What does it take? Stronger global network More focus on creating international contacts with both business partners and investors More funding power Specialized, complementary skills Fund raising minimum 100m. must be able to fund companies from start-up to exit Plads for både Ole Opfinder og Karen Købmand

17 Create more value, faster Value Creation Ambition Build Conquer Tid

18 A spin-out from Vækstfonden

19

20 The Good Plan

21 WHY A BUSINESS PLAN? Because you are planning a business Too many businesses fail because key areas were not given enough consideration Ex: focus on technology, but not the customer The plan helps ensure all business issues are considered Living document Recipe to help minimize risk of failure

22 NOT A RECIPE FOR FUNDING But a good plan builds credibility Ensures you have already addressed most issues potential investors will raise because the issues raised will be key business factors Essential to be able to boil it down for investors It is not a recipe for funding. But that said

23 TABLE OF CONTENTS here is the recipe Executive Summary Market Overview Business Concept Business Strategy Technology / Services Management / Ownership Organization and Operations Risk Factors Financials

24 EXECUTIVE SUMMARY Introduction Market Need Products and Services Operations and Financial Overview Management and Ownership Key Investment Considerations

25 MARKET OVERVIEW Total Addressable Market Size and Trends Key Drivers Focus Segment Identify companies and needs Be specific

26 THE BUSINESS CONCEPT Mission / Vision Concept Milestones and Objectives Business Model Value Proposition

27 Example Value Proposition Player Motives / Drivers CONSUMERS Communicate with each other Express oneself Ease-of-use Value for money CONTENT PROVIDERS Broad distribution Guaranteed payment for use Increase market awareness of both new and older content SERVICE OPERATORS Reduce customer churn Differentiate product offering Protect and grow revenues TELECOM EQUIPMENT MANUFACTURERS Increase infrastructure sales to service providers Increase handset sales Revenues Our Value Proposal Our Products / Services offered Enhance messaging communication Be cool and different Content completely integrated w/ lifestyle Messaging from the mobile. Links to and from other messaging applications Rapid distribution in new markets New revenue source Accelerated exposure to potential consumers Automatic royalty tracking and payment for use Opportunity for crosspromotional activities Enhance consumer loyalty Generate new revenues Link multiple messaging services to crosssell products Content updates Links into their other messaging services ASP or in-house solution Add fuel to 3G business case Differentiate handsets via cobranding Partnership to market infrastructure to operators Co-branding for handsets

28 BUSINESS STRATEGY Sales and Marketing Strategy Who are the customers? Why should they buy your product? Distribution How will reach the customer? Competition Who can stop you? New Products and Services How can you keep an edge?

29 Example Distribution Plan Company

30 TECHNOLOGY AND SERVICES Services Technology Including Road Map Intellectual Property Customer Implementation Maintenance

31 MANAGEMENT/ OWNERSHIP Key Management CVs Board of Directors Current Ownership Structure

32 ORGANIZATION AND OPERATIONS Organizational Structure Human Resource Requirements External Advisors Legal, Regulatory and Other

33 RISK FACTORS Business Challenges Technology Challenges Market Challenges Don t be shy.

34 BUDGET AND PROJECTIONS Funding Need and Uses Expenses and Cost Drivers Revenue Drivers

35 CONTACT INFORMATION Vækstfonden Strandvejen 104A 2900 Hellerup Denmark Eric-Alan Rapp, Investment Director Mobile:

36 Spørgsmål?