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ABVCAP Conference: Brazil Post-Crisis, even better! April 12   /13, 2010 – Sofitel – Rio de Janeiro Overview of the Brazil...
Special Thanks to our  Sponsors and Partners Founding Members Strategic and Institutional Partnerships Institutional Spons...
$ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers
$ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers <ul><li>Managers...
PE&VC in Brazil – Dec/2009 Investors Managing Organizations Portfolio Companies US$ 34 bn Committed Capital 140 PE&VC Firm...
180 PE&VC Managing Organizations 140 surveyed Research Universe 78% of the industry  surveyed
Increasing Presence of Global Players Global, Regional and Emerging Markets Investment Vehicles DLJ AAI Global Advent AIG ...
Committed Capital Allocated to Brazil current US$ bn NOTE: Allocated committed capital excludes fully divested vehicles an...
Significant Expansion of the  PE Asset Class in Brazil Source: BACEN, GVcepe 2x  since 2004 Committed Capital as % of GDP
Fundraising 2009 US$ 4.6bn: Domestic  R$ 3.3bn (US$1.7bn) and Foreign US$ 2.9bn current US$ bn
Broad Diversification of Investor Base, notably  Pension Funds, Parent Orgs., GPs, Family Offices, etc.
Origin of Investors as % of Committed Capital 2009:  high concentration in Brazil, U.S. and E.U Sample: 255 reporting vehi...
Increasing Span of GP activity into both  Private Equity and Venture Capital Distribution of Investment Vehicles by Type  ...
Strong Expansion of Portfolio Companies, predominantly SMEs 14% p.a.   CAGR 2005-2009 Nr. of Portfolio Companies
Portfolio Companies 2009 by Sector of Economic Activity <ul><ul><li>Innovative and Technology based sectors predominate </...
Mobilizers programs in strategic areas Complexo Industrial da  Saúde Nuclear  Energy   Tecnologias de  Informação e  Comun...
Brazilian PE&VC on the Radar Screen of Global Investors *Preqin **GVcepe Global Fundraising (US$bn)* Region 2005 2006 2007...
Brazilian PE&VC on the Radar Screen of Global Investors:  Employment Source: Preqin, Gvcepe Country Estimated Total Employ...
$ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers <ul><li>Legal st...
$ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers RESEARCH MODULE ...
ABVCAP Conference: Brazil Post-Crisis, even better! April 12   /13, 2010 – Sofitel – Rio de Janeiro Your cooperation is cr...
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  • Mudar as barras dos trimestres para amarelo
  • Diverse Services: call center, consulting, etc. Other Industries: printing, publisinhg, toys, packaging, industrial laundry, etc DASA &gt; Pharmaceuticals, Medicals and Aesthetics...
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    1. 1. ABVCAP Conference: Brazil Post-Crisis, even better! April 12 /13, 2010 – Sofitel – Rio de Janeiro Overview of the Brazilian Private Equity and Venture Capital Industry Prof. Cláudio Vilar Furtado GVcepe – Private Equity and Venture Capital Research Center at FGV – EAESP Graduate School of Business
    2. 2. Special Thanks to our Sponsors and Partners Founding Members Strategic and Institutional Partnerships Institutional Sponsorship
    3. 3. $ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers
    4. 4. $ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers <ul><li>Managers: profile, investment thesis and legal nature and human resources </li></ul><ul><li>Investments Vehicles: Fundraising, LP’s and Investments and Exits </li></ul><ul><li>Invested companies: Stage, Sector, Location, Size, Turnover, Employment, etc. </li></ul>RESEARCH MODULE 1
    5. 5. PE&VC in Brazil – Dec/2009 Investors Managing Organizations Portfolio Companies US$ 34 bn Committed Capital 140 PE&VC Firms 236 Investment Vehicles 1,747 Professionals and Staff 554 Portfolio Companies <ul><li>From 2005 to 2009: </li></ul><ul><li>489 new/follow-on investments </li></ul><ul><li>37 backed IPO’s (R$31.3bn) </li></ul>
    6. 6. 180 PE&VC Managing Organizations 140 surveyed Research Universe 78% of the industry surveyed
    7. 7. Increasing Presence of Global Players Global, Regional and Emerging Markets Investment Vehicles DLJ AAI Global Advent AIG Cartesian Cartica Capital Darby Overseas Econergy Brasil General Atlantic Intel Capital One Equity Partners Paul Capital The Carlyle Group Actis Autonomy Spinnaker AIG Private Equity (EUA) Darby Overseas (EUA) Electra Capital Partners (Cayman) Franklin Templeton (EUA) Intel Capital (EUA) Itacaré (Ilh Vir) Santander (ESP) Standard Bank (SAF) The Carlyle Group (EUA) Vita Bioenergia (SUI) Global, Regional and Emerging Markets Fund Managers with vehicles strictly dedicated to Brazil Southern Cross GP Investments
    8. 8. Committed Capital Allocated to Brazil current US$ bn NOTE: Allocated committed capital excludes fully divested vehicles and includes REAL appreciation effect on dec/08 base. 21% increase: 2009/2008
    9. 9. Significant Expansion of the PE Asset Class in Brazil Source: BACEN, GVcepe 2x since 2004 Committed Capital as % of GDP
    10. 10. Fundraising 2009 US$ 4.6bn: Domestic R$ 3.3bn (US$1.7bn) and Foreign US$ 2.9bn current US$ bn
    11. 11. Broad Diversification of Investor Base, notably Pension Funds, Parent Orgs., GPs, Family Offices, etc.
    12. 12. Origin of Investors as % of Committed Capital 2009: high concentration in Brazil, U.S. and E.U Sample: 255 reporting vehicles, ¾ of Committed Capital
    13. 13. Increasing Span of GP activity into both Private Equity and Venture Capital Distribution of Investment Vehicles by Type Obs: Venture Capital includes Seed, Early Stage and Later Stage VC. Private Equity includes Growth Capital and Later Stage Sample: 224 vehicles, 88% of population
    14. 14. Strong Expansion of Portfolio Companies, predominantly SMEs 14% p.a. CAGR 2005-2009 Nr. of Portfolio Companies
    15. 15. Portfolio Companies 2009 by Sector of Economic Activity <ul><ul><li>Innovative and Technology based sectors predominate </li></ul></ul>Spread in Traditional industries 2. 1. Industry 2009 Nr. % IT and Electronics 108 19,5 Energy and Oil 54 9,7 Civil Construction 52 9,4 Communications 34 6,1 Retail 28 5,1 Agribusiness 25 4,5 Food and Beverages 21 3,8 Transportation and Logistics Services 21 3,8 Pharmaceuticals, Medical and Aesthetics 20 3,6 Financial Services 18 3,2 Biotechnology 15 2,7 Infrastructure 15 2,7 Education 13 2,3 Entertainment/Tourism 11 2,0 Services (Other) 11 2,0 Real Estate 9 1,6 Metallurgy, Mechanical and Electrical Material Industries 7 1,3 Extractive Industries 6 1,1 Chemical Industries 3 0,5 Other Industrial and Services Unidentified Sector 51 32 9,2 5,8 TOTAL 554 100%
    16. 16. Mobilizers programs in strategic areas Complexo Industrial da Saúde Nuclear Energy   Tecnologias de Informação e Comunicação Industrial Complex Defense Nanotecnologia Biotecnologia Programs to strengthen the competitiveness Complex Automotive Capital goods Textile and Clothing Madeira and Mobile Higiene, Perfumaria e Cosméticos Construção Civil Complexo de Serviços Biodiesel Industry Naval and Cabotage Leather, Footwear and Artifacts Agroindústrias Plastics OUTROS Programs to consolidate and expand the leadership Complexo Aeronáutico Mineração Steel Pulp and Paper Petróleo, Gás natural e Petroquímica Meat Bioetanol Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Higiene, Perfumaria e Cosméticos Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Construção Civil Higiene, Perfumaria e Cosméticos Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Complexo de Serviços Construção Civil Higiene, Perfumaria e Cosméticos Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Agroindústrias Complexo de Serviços Construção Civil Higiene, Perfumaria e Cosméticos Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Biodiesel Agroindústrias Complexo de Serviços Construção Civil Higiene, Perfumaria e Cosméticos Mineração Bioetanol Petróleo, Gás natural e Petroquímica Complexo Aeronáutico Biotecnologia Nanotecnologia Complexo Industrial da Saúde Tecnologias de Informação e Comunicação Education and OTHERS Biodiesel Agribusiness Complex Services Building Hygiene, Perfumery and Cosmetics Mining Bioethanol Oil, Natural gas and  Petrochemicals Complex Aeronautical Biotechnology Nanotechnology Industrial Complex Health Technology Information and Communication 4/6 7/7 13/13 PE & VC PORTFOLIO COMPANIES IN 24/26 SECTORS Source: GVcepe and ABDI - Productive Development Policy (PDP) Private Equity and Venture Capital Investment Activity leverages Industrial Development Policy: presence in 90% of priority government programs
    17. 17. Brazilian PE&VC on the Radar Screen of Global Investors *Preqin **GVcepe Global Fundraising (US$bn)* Region 2005 2006 2007 2008 2009 Total North America 187 315 383 366 144 1,397 Europe 110 136 162 157 73 640 Asia and ROW 47 84 100 112 27 371 Global 345 535 646 636 246 2,408 Brazil** 2.3 5.3 7.2 4.6 4,6 24 as % of Asia and ROW 4,8% 6,4% 7,2% 4,1% 17,6% 6,5%
    18. 18. Brazilian PE&VC on the Radar Screen of Global Investors: Employment Source: Preqin, Gvcepe Country Estimated Total Employment US 38.500 UK 7.700 France 2.300 Brazil (GVcepe correction) 1.700 Germany 1.500 Australia 1.400 Canada 1.400 Japan 1.100 India 1.000 Hong Kong 900 Switzerland 900 China (ex. Hong Kong) 800 Italy 800 Sweden 800 Israel 600 Netherlands 600 Other 8.800 Total 69.100
    19. 19. $ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers <ul><li>Legal structure and LP agreements </li></ul><ul><li>Investors an LPs: resources origin and category </li></ul><ul><li>GP: Legal structure and remuneration </li></ul><ul><li>Performance by Investment Vehicle Vintage, Exits, etc. </li></ul>RESEARCH MODULE 2
    20. 20. $ $ Research Structured in 3 Modules: PE&VC 2010 Census Investors Inv. Vehicles Portf. Companies Managers RESEARCH MODULE 3 <ul><li>Growth and value creation, jobs and intangibles </li></ul><ul><li>Patents and Innovation </li></ul><ul><li>Corporate governance and financial contracts </li></ul><ul><li>Social and Enviromental Sustainability </li></ul><ul><li>Exits and Capital Markets Impact </li></ul>
    21. 21. ABVCAP Conference: Brazil Post-Crisis, even better! April 12 /13, 2010 – Sofitel – Rio de Janeiro Your cooperation is crucial to our joint success!!! Thank you Prof. Cláudio Vilar Furtado GVcepe – Private Equity and Venture Capital Research Center at FGV – EAESP Graduate School of Business
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