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Nils Granath
Bucharest, May 28, 2013
How to maximize the company valuation @ Exit?
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH2
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH3
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH4
Planning your Exit : Are you ready?
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH5
Planning your Exit: Plan ahead!
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH6
Exit Challenges for European Tech Start-ups
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH7
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH8
The conclusion is simple
How to maximize the company valuation @ Exit?
Line up your ducks!
Use the best team!
Create a structured process!
Keep on fighting until the end!
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH9
Cartagena Capital GmbH
Nordic Representative Office
Visiting address:
Engelbrektsgatan 5
114 32 Stockholm, Sweden
Phone: +46 8 5197 0600
Nils Granath
Partner
Mobile: +46 73 811 4600
E-mail: nils@cartagena-capital.com
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH10
Team profile: Nils Granath
Experienced M&A advisor and venture investor, with a background
as entrepreneur and senior manager in technology firms
 Former Investment Officer at Swisscom Ventures leading investments and
board member of various portfolio companies, notably Swisscom Auto ID
Services AG (merged with Vilant Oy) and Liberovision AG; project
management of M&A and partnering opportunities for the Swisscom Group
 Previous career milestones include selling Ericsson’s first mobile system in
Ukraine, introducing digital mobile network technology in Brazil,
management of international web consulting projects at Icon Medialab,
raising venture capital for Mobilisys as well as establishing Sicap in the mobile
device management space
 Co-Founder and Director of NearShore, a mobile security software company
 MBA, INSEAD in Fontainebleau/France and MSc, Linköping Institute of
Technology/Sweden and ENSAM in Paris
Location: Stockholm, Sweden
Title: Partner
In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH11
Switzerland
Sold to
July 2011
Germany
Fundraising
June 2011
Germany
Fundraising
December 2010
France
Sold to
January 2010
France
Fundraising
October 2009
Netherlands
Sold to
October 2011
March 2012
United Arab Emirates
Valuation
Opinion
July 2012
France
Sold to
April 2012
Germany
Germany
Sold to
May 2011
Selected Transactions
Strategic
Advisory
2011 - 2012
Germany
Global buy-side
advisory
2012-2013
France
Sold to
July 2011
South Africa
Strategic
Advisory
August 2010
France
Fundraising
March 2010
Sold to
March 2010
France
July 2011
Finland
Sold to
February 2010
Sold to
Germany
December 2012
Sold to
March 2013
Germany
Fundraising
July 2009
Germany
Fundraising
September 2009
Switzerland USA / Spain
Sold to
Social Media Analytics
Ammer Partners
Light Measurement
Solar Wafer
Delta
Video Compression
A-Plus Finance, XAnge,
Ventech, Aels
Network Equipment
Seventure, NextStage
Wireless PKI
Atine, Risto Siilasmaa,
Eqvitec, Industry
Investment
Touchscreen technology
Sofinnova Partners,
Motorola Ventures
Touchscreen technology
Sofinnova Partners,
Motorola Ventures
Media/e-Commerce
IBB, NRW.bank, Madsack,
Cineplus
Online Games
Balderton, Brandenburg
Capital, Grazia
Mobile Security
Target Partners, BayBG,
KfW
Access Management
HGTF, Bayern Kapital,
Marquardt
3D Graphics
Swisscom Ventures, ZKB
Online Games
Innovacom
Mobile Games
XAnge, Bertelsmann, KfW
Mobile Payments
Remgro, Sanlam, HBD
Wireless Sennsors
CM-CIC, Sudinnova, IAFG
Primaveris, Success Europe
Online Games
HTGF, Holtzbrinck,
Neuhaus, T-Venture
Venture CapitalMobile Games Mobile applications

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How to maximize the company evaluation @ exit?

  • 1. Nils Granath Bucharest, May 28, 2013 How to maximize the company valuation @ Exit?
  • 2. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH2
  • 3. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH3
  • 4. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH4 Planning your Exit : Are you ready?
  • 5. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH5 Planning your Exit: Plan ahead!
  • 6. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH6 Exit Challenges for European Tech Start-ups
  • 7. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH7
  • 8. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH8 The conclusion is simple How to maximize the company valuation @ Exit? Line up your ducks! Use the best team! Create a structured process! Keep on fighting until the end!
  • 9. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH9 Cartagena Capital GmbH Nordic Representative Office Visiting address: Engelbrektsgatan 5 114 32 Stockholm, Sweden Phone: +46 8 5197 0600 Nils Granath Partner Mobile: +46 73 811 4600 E-mail: nils@cartagena-capital.com
  • 10. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH10 Team profile: Nils Granath Experienced M&A advisor and venture investor, with a background as entrepreneur and senior manager in technology firms  Former Investment Officer at Swisscom Ventures leading investments and board member of various portfolio companies, notably Swisscom Auto ID Services AG (merged with Vilant Oy) and Liberovision AG; project management of M&A and partnering opportunities for the Swisscom Group  Previous career milestones include selling Ericsson’s first mobile system in Ukraine, introducing digital mobile network technology in Brazil, management of international web consulting projects at Icon Medialab, raising venture capital for Mobilisys as well as establishing Sicap in the mobile device management space  Co-Founder and Director of NearShore, a mobile security software company  MBA, INSEAD in Fontainebleau/France and MSc, Linköping Institute of Technology/Sweden and ENSAM in Paris Location: Stockholm, Sweden Title: Partner
  • 11. In Confidence © Cartagena Capital GmbH28.5.2013 © Cartagena Capital GmbH11 Switzerland Sold to July 2011 Germany Fundraising June 2011 Germany Fundraising December 2010 France Sold to January 2010 France Fundraising October 2009 Netherlands Sold to October 2011 March 2012 United Arab Emirates Valuation Opinion July 2012 France Sold to April 2012 Germany Germany Sold to May 2011 Selected Transactions Strategic Advisory 2011 - 2012 Germany Global buy-side advisory 2012-2013 France Sold to July 2011 South Africa Strategic Advisory August 2010 France Fundraising March 2010 Sold to March 2010 France July 2011 Finland Sold to February 2010 Sold to Germany December 2012 Sold to March 2013 Germany Fundraising July 2009 Germany Fundraising September 2009 Switzerland USA / Spain Sold to Social Media Analytics Ammer Partners Light Measurement Solar Wafer Delta Video Compression A-Plus Finance, XAnge, Ventech, Aels Network Equipment Seventure, NextStage Wireless PKI Atine, Risto Siilasmaa, Eqvitec, Industry Investment Touchscreen technology Sofinnova Partners, Motorola Ventures Touchscreen technology Sofinnova Partners, Motorola Ventures Media/e-Commerce IBB, NRW.bank, Madsack, Cineplus Online Games Balderton, Brandenburg Capital, Grazia Mobile Security Target Partners, BayBG, KfW Access Management HGTF, Bayern Kapital, Marquardt 3D Graphics Swisscom Ventures, ZKB Online Games Innovacom Mobile Games XAnge, Bertelsmann, KfW Mobile Payments Remgro, Sanlam, HBD Wireless Sennsors CM-CIC, Sudinnova, IAFG Primaveris, Success Europe Online Games HTGF, Holtzbrinck, Neuhaus, T-Venture Venture CapitalMobile Games Mobile applications