Sequoia Capital: Warren Hogarth at Haas Cleantech Energy Panel

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Warren Hogath at UC Berkeley's Haas School of Business Alternative Energy Speaker Series.

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Sequoia Capital: Warren Hogarth at Haas Cleantech Energy Panel

  1. 1. Haas Alternative Energy Speaker SeriesNovember 16, 2010<br />
  2. 2. Then<br />1972<br />West of the Rockies<br />Venture Stage<br />Information Technology<br />
  3. 3. Now<br />40 years of constant change<br />China, India, Israel, U.S.<br />Seed, Venture, Growth<br />27 Funds<br />800+ Companies<br />150+ IPOs<br />150+ M&As<br />
  4. 4. Sequoia Capital 2010<br />MENLO PARK<br />20 INVESTORS<br />BEIJINGSHANGHAIHONG KONG<br />15 INVESTORS<br />TEL AVIV<br />5 INVESTORS<br />DELHIMUMBAIBANGALORE<br />14 INVESTORS<br />
  5. 5. Energy/Cleantech Alternative, Conventional, Efficiency, Storage, Monitoring + TestingFinancial Services Banking, Brokerage, Information, PaymentsHealthcare Services Contract Research, Diagnostics, Drugs, Labs, Patient CareInternet Communications, e-Commerce, Enterprise, Gaming, Media, SearchMobile Communications, Dev Tools, Enterprise, Gaming, Media PaymentsTechnologyCarrier/Enterprise Infrastructure, Security, Storage, Cloud/SaaS, Storage<br />Ecosystem<br />
  6. 6. Yesterday<br />Semis<br />Systems<br />Software<br />Services<br />
  7. 7. Elements of a Sustainable Company<br />✔ Clarity of purpose<br />✔ Spectacular market<br />✔ Alleviate customer pain<br />✔ Team DNA<br />✔ Incredible product focus<br />✔ Real operating margins<br />✔ Frugality<br />✔ Inferno with a single match<br />
  8. 8. Cleantech / Energy<br />
  9. 9. Accelergy<br />ThinSilicon<br />A123<br />Clean cell<br />Changelight<br />C12<br />Havells<br />Isilon<br />Ind-Barath<br />Tula<br />Achates<br />ISCA<br />Coastal<br />Projects<br />Luxim<br />Synapsense<br />Tribi<br />Exploration<br />Generation<br />Transmission<br />Consumption<br />Reduction<br />Greentech<br />Browntech<br />Colors of Cleantech<br />Coastal Projects<br />SunRun<br />Jinye<br />Lubao<br />eMeter<br />Sino<br />Acoustic Eye<br />Prudent<br />Shenghui<br />
  10. 10. The Magic Metric: Gross Margin<br />Sustainable Companies = High Gross Margins (usually > 60%)<br />High Gross Margins imply:<br />Real customer pain<br />Differentiated product / strong IP<br />Lower cash requirements<br />Higher growth potential<br />Higher profitability potential<br />

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