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Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Dan Loague </li></ul><ul><li>Nati...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outline: </li></ul><ul><li>About ...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outline ( continued ): </li></ul>...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>NASVF </li></ul><ul><li>National ...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>NASVF’s Seed Investing Seminars <...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises Swing for the Fences - Seed Investing for...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>The Market: </li></ul>
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Entrepreneur* </li></ul><ul><ul><...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>National Scope: </li></ul><ul><ul...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Some Example Communities: </li></ul>
<ul><li>Results: </li></ul><ul><ul><li>increased deal flow </li></ul></ul><ul><ul><li>expanded sources of seed capital </l...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - Angels </li><...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - Founders, etc...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network”...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Network Building Tools: </li></ul...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outcomes: </li></ul><ul><ul><li>H...
Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><ul><ul><li>Dan Loague </li></ul></ul...
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  1. 1. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Dan Loague </li></ul><ul><li>National Association of Seed and Venture Funds </li></ul><ul><li>www.nasvf.org </li></ul>
  2. 2. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outline: </li></ul><ul><li>About NASVF </li></ul><ul><li>NASVF’s Seed Investing Seminars </li></ul><ul><ul><li>For investors and for entrepreneurs </li></ul></ul><ul><ul><li>Market </li></ul></ul><ul><ul><li>Natural attractions </li></ul></ul><ul><ul><li>Scope </li></ul></ul><ul><ul><li>Examples </li></ul></ul><ul><ul><li>Results </li></ul></ul>
  3. 3. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outline ( continued ): </li></ul><ul><ul><li>Deal Flow Sources- Angels and Founders, Etc. </li></ul></ul><ul><ul><li>Deal Flow Sources- “The Network” </li></ul></ul><ul><ul><ul><li>Community, local, state and regional </li></ul></ul></ul><ul><ul><ul><li>Public - universities, state and local </li></ul></ul></ul><ul><ul><ul><li>Private and Corporate </li></ul></ul></ul><ul><ul><ul><li>Professional </li></ul></ul></ul><ul><ul><li>Network Building Tools </li></ul></ul><ul><ul><li>Outcomes </li></ul></ul>
  4. 4. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>NASVF </li></ul><ul><li>National Association of Seed and Venture Funds </li></ul><ul><li>a network of private, public and nonprofit organizations </li></ul><ul><li>committed to building their local economies </li></ul><ul><li>by investing and facilitating investment in local entrepreneurs. </li></ul>
  5. 5. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>NASVF’s Seed Investing Seminars </li></ul><ul><ul><li>provide basic information on the process of seed investing </li></ul></ul><ul><ul><li>help create and expand local early stage investing networks </li></ul></ul><ul><ul><li>focus on enterprise creation and growth </li></ul></ul><ul><ul><li>stimulate the local seed investing market </li></ul></ul><ul><ul><li>effective tools for communities to harness key local resources. </li></ul></ul>
  6. 6. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises Swing for the Fences - Seed Investing for Entrepreneurs
  7. 7. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>The Market: </li></ul>
  8. 8. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Entrepreneur* </li></ul><ul><ul><li>Terrifically Smart </li></ul></ul><ul><ul><li>High Integrity </li></ul></ul><ul><ul><li>Cash Flow Fluent </li></ul></ul><ul><ul><li>Proprietary Advantage </li></ul></ul><ul><ul><li>Leading Edge Technology </li></ul></ul><ul><ul><li>Market Dominance </li></ul></ul><ul><ul><li>“ 5 in 5” ROI </li></ul></ul><ul><ul><li>Clear Exit Strategy </li></ul></ul><ul><ul><li>*From “What Angels Want,” Jeffrey L. Seglin. Inc magazine, Nov., 1997, p. 43. </li></ul></ul><ul><li>Early stage investor* </li></ul><ul><ul><li>Investing Expertise </li></ul></ul><ul><ul><li>Industry Experience </li></ul></ul><ul><ul><li>Risk Tolerance </li></ul></ul><ul><ul><li>Patient Money </li></ul></ul><ul><ul><li>Additional Investment </li></ul></ul><ul><ul><li>Congruent Exit Strategy </li></ul></ul><ul><ul><li>Active Participation </li></ul></ul><ul><ul><li>Cheerleader Potential </li></ul></ul><ul><ul><li>*Adapted from participant workshop at the 1997 NASVF Annual Conference, Santa Fe, NM. </li></ul></ul>Natural Attractions:
  9. 9. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>National Scope: </li></ul><ul><ul><li>80+ communities and 39 states </li></ul></ul><ul><ul><li>3,500+ persons trained, including - </li></ul></ul><ul><ul><ul><li>seed investors (angels) </li></ul></ul></ul><ul><ul><ul><li>investment professionals </li></ul></ul></ul><ul><ul><ul><li>entrepreneurs with technology based enterprises </li></ul></ul></ul><ul><ul><ul><li>economic developers </li></ul></ul></ul><ul><ul><ul><li>community leaders </li></ul></ul></ul>
  10. 10. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Some Example Communities: </li></ul>
  11. 11. <ul><li>Results: </li></ul><ul><ul><li>increased deal flow </li></ul></ul><ul><ul><li>expanded sources of seed capital </li></ul></ul><ul><ul><li>expanded enterprise development </li></ul></ul><ul><ul><li>more active local seed investing market </li></ul></ul><ul><ul><li>expanded investment in tech-based deals </li></ul></ul>Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises
  12. 12. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - Angels </li></ul><ul><ul><li>About 400,000 angels invest about $30 billion to $40 billion annually in over 50,000 ventures - angels are the &quot;invisible&quot; portion of the venture capital investment market. </li></ul></ul><ul><ul><li>Undercover - vast informal market, by far the largest and oldest. </li></ul></ul><ul><ul><li>Venture Capital clubs/groups </li></ul></ul><ul><ul><li>Angel alliances </li></ul></ul><ul><ul><li>Networks </li></ul></ul><ul><ul><li>Electronic networks </li></ul></ul>
  13. 13. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - Founders, etc. </li></ul><ul><ul><li>Founders - entrepreneurs who bootstrap their enterprises with personal resources and sweat equity </li></ul></ul><ul><ul><li>FFF (Friends, Family and Fools; also referred to as &quot;Uncle Harry or Aunt Harriet&quot;) - investors in loosely structured seed/start-up deals </li></ul></ul>
  14. 14. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” </li></ul><ul><ul><li>Consultants skilled in due diligence </li></ul></ul><ul><ul><li>Local financial organizations with regional and national seed and venture capital relationships </li></ul></ul><ul><ul><li>Local and regional private seed fund managers </li></ul></ul><ul><ul><li>Local entrepreneurial associations </li></ul></ul><ul><ul><li>Local entrepreneurs who have “cashed out” of a successful enterprise and seeking new opportunities (especially those entrepreneurs with successful technology-based companies) </li></ul></ul><ul><ul><li>Local entrepreneurs who have successfully raised capital from seed investors and who understand the seed investing process </li></ul></ul>
  15. 15. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>Regional financial organizations that promote local economic development </li></ul></ul><ul><ul><li>Technology associations that help develop specialized “clusters” of companies </li></ul></ul><ul><ul><li>Local financial organizations with regional and national seed and venture capital relationships </li></ul></ul><ul><ul><li>Venture Capital c ompanies that work with local private investors (first and later rounds) </li></ul></ul>
  16. 16. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>Corporate research and development directors with IP available for investment </li></ul></ul><ul><ul><li>Corporate new product investment managers </li></ul></ul><ul><ul><li>Corporate seed and venture funds </li></ul></ul><ul><ul><li>Local/Regional private and nonprofit foundations with a community development mission </li></ul></ul><ul><ul><li>Local/Regional investment forum organizers </li></ul></ul>
  17. 17. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>Attorneys experienced in: </li></ul></ul><ul><ul><ul><li>seed deals and expert in term sheets </li></ul></ul></ul><ul><ul><ul><li>intellectual property (IP) law and investment </li></ul></ul></ul><ul><ul><li>Private investors </li></ul></ul><ul><ul><ul><li>High profile “super angels” </li></ul></ul></ul><ul><ul><ul><li>Individual local investors part of community leadership </li></ul></ul></ul><ul><ul><ul><li>Local informal angel investment clubs skilled in assessing and “scrubbing” potential investments </li></ul></ul></ul><ul><ul><ul><li>Local angel organizations with a legal structure, also skilled in assessing and “scrubbing” potential investments </li></ul></ul></ul>
  18. 18. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>Economic developers skilled in technology commercialization </li></ul></ul><ul><ul><li>University IP and technology managers with IP available for investment </li></ul></ul><ul><ul><li>University seed and venture funds </li></ul></ul><ul><ul><li>Recipients of SBIR and other federal technology business development grants </li></ul></ul><ul><ul><li>Federal facility intellectual property and technology managers </li></ul></ul>
  19. 19. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>SBA Small Business Development Center professionals experienced in successful development of technology based companies </li></ul></ul><ul><ul><li>Business incubators assisting local start up companies </li></ul></ul><ul><ul><li>Chamber of commerce programs assisting in development of new companies </li></ul></ul>
  20. 20. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Deal Flow Sources - “The Network” (continued) </li></ul><ul><ul><li>State sponsored seed and venture funds </li></ul></ul><ul><ul><li>State sponsored technology commercialization programs </li></ul></ul><ul><ul><li>State departments of economic development/commerce with funded technology development programs </li></ul></ul><ul><ul><li>State and local finance authorities that have relationships with regional and national seed and venture capital companies </li></ul></ul><ul><ul><li>State and federal officials helping increase the availability of venture capital and to capitalize on public funded research by taking technologies into the commercial marketplace. </li></ul></ul>
  21. 21. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Network Building Tools: </li></ul><ul><ul><li>Seed Investing network-building interactive workshops </li></ul></ul><ul><ul><li>Engaged regional and community civic leadership </li></ul></ul><ul><ul><li>Initiatives to raise and expand capital for early-stage enterprises </li></ul></ul><ul><ul><li>Formation of angel clubs and formal seed investing organizations </li></ul></ul><ul><ul><li>Technology based enterprise associations </li></ul></ul>
  22. 22. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><li>Outcomes: </li></ul><ul><ul><li>Harnessing local resources to create and grow ENTERPRISES produces: </li></ul></ul><ul><ul><li>Increased number of great deals in which to invest </li></ul></ul><ul><ul><li>Increased number of investors interested in HOME GROWN companies </li></ul></ul><ul><ul><li>Expanded early stage capital to fill the funding gap for enterprises with high growth potential </li></ul></ul><ul><ul><li>Expanded networks of investors and entrepreneurs with links to regional and national venture capital resources </li></ul></ul><ul><ul><li>A potential for creating cashed-out entrepreneurs to sustain and strengthen the local economy </li></ul></ul>
  23. 23. Successful Early Stage Investing Networks: Angels, Entrepreneurs and Enterprises <ul><ul><ul><li>Dan Loague </li></ul></ul></ul><ul><ul><ul><li>National Association of Seed and Venture Capital </li></ul></ul></ul><ul><ul><ul><li>301 N.S. 63 rd Street Suite 500 </li></ul></ul></ul><ul><ul><ul><li>Oklahoma City, OK 73116 </li></ul></ul></ul><ul><ul><ul><li>Ph: 405-824-5549 </li></ul></ul></ul><ul><ul><ul><li>Fx: 800-420-8329 </li></ul></ul></ul><ul><ul><ul><li>Web: http:// www.nasvf.org </li></ul></ul></ul>Em: [email_address]
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