BDC Technology Seed Investments NAO Summit 2005 Ottawa, October 23-25 Business Development Bank of Canada By Robert Inglese
BDC <ul><li>Established in 1944 </li></ul><ul><li>To support Canadian entrepreneurship and be a complementary lender in th...
BDC Venture Capital <ul><li>Established in 1975 </li></ul><ul><li>Technology businesses with high growth potential and pos...
BDC’s Newest Initiative <ul><li>$100M to create 5 Seed funds in Canada </li></ul><ul><li>BDC to invest $20M in each fund <...
BDC Technology Seed Investments <ul><li>Established in 2002 with a $100M mandate </li></ul><ul><li>Focus on commercializat...
TSI  Group  Achievements to Date <ul><li>850 potential projects (since 2002) </li></ul><ul><li>$55M in 35 Companies (+$15M...
We Invest With Angels  -  Some Observations <ul><li>Angels were already invested in all of our angel-back businesses </li>...
What We Do (Preferences) <ul><li>We invest alone in most cases, but we keep the subscription open for new investor(s) </li...
Questions? Thank You www.bdc.ca
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Summit 05 Presentations 13a Inglese, Robert

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  • Summit 05 Presentations 13a Inglese, Robert

    1. 1. BDC Technology Seed Investments NAO Summit 2005 Ottawa, October 23-25 Business Development Bank of Canada By Robert Inglese
    2. 2. BDC <ul><li>Established in 1944 </li></ul><ul><li>To support Canadian entrepreneurship and be a complementary lender in the market </li></ul><ul><li>Financial and Consulting Services to SME’s </li></ul><ul><li>Term-financing, Sub-fin. and Venture Capital </li></ul><ul><li>90 Branches and 20 Entrepreneurship Centers </li></ul><ul><li>$9.5 billion assets and 25,000 customers </li></ul>… we make a unique and significant contribution to the success of dynamic and innovative entrepreneurship for the benefit of all Canadians
    3. 3. BDC Venture Capital <ul><li>Established in 1975 </li></ul><ul><li>Technology businesses with high growth potential and positioned to become dominant players in their markets </li></ul><ul><li>Every sector of science & technologies </li></ul><ul><li>$600M in 200 portfolio companies across Cdn </li></ul><ul><li>$125M in 14 venture capital funds </li></ul><ul><li>Focus on Seed and Early-stage (or pre-rev.) </li></ul><ul><li>Top quartile performance </li></ul>… we have the experience and expertise, and we are patient!
    4. 4. BDC’s Newest Initiative <ul><li>$100M to create 5 Seed funds in Canada </li></ul><ul><li>BDC to invest $20M in each fund </li></ul><ul><li>Matching $ with other fund providers </li></ul><ul><li>Seed and pre-seed focusing on commercialization of R&D innovations </li></ul><ul><li>First-time funds with experienced investment managers (VC and Operating experience) </li></ul><ul><li>Managed by VP Funds Investments </li></ul>… leveraging our reach!
    5. 5. BDC Technology Seed Investments <ul><li>Established in 2002 with a $100M mandate </li></ul><ul><li>Focus on commercialization of technology innovations enabling outstanding value-proposition and high-growth market </li></ul><ul><li>We invest with People: Pathfinders to success! </li></ul><ul><li>– to identify the best business opportunity; </li></ul><ul><li>– to bring the right product to leading customers; </li></ul><ul><li>– to forge competitive advantage, and; </li></ul><ul><li>– lead to next round financing and profitability! </li></ul>… excellent partner for the creation and acceleration of technology businesses!
    6. 6. TSI Group Achievements to Date <ul><li>850 potential projects (since 2002) </li></ul><ul><li>$55M in 35 Companies (+$15M from BDC VC) </li></ul><ul><li>$25M from co-Seed Investors (85% led by BDC) </li></ul><ul><li>$75M in Round ‘A’ VC Financings from other investors into 6 Companies </li></ul><ul><li>22/35 University and National Lab spin-outs </li></ul><ul><li>9/35 Angel Investor-Back Companies ($5M) </li></ul><ul><li>One failure ($500K) </li></ul>… we’re above plan!
    7. 7. We Invest With Angels - Some Observations <ul><li>Angels were already invested in all of our angel-back businesses </li></ul><ul><li>BDC as sole institutional investor in most of them – extending the runway by 2 to 5 x to get to Series ‘A’ </li></ul><ul><li>Angel groups led by experienced business people in most cases </li></ul><ul><li>Overall – POSITIVE – Alignment of interest and company building – SO FAR SO GOOD ! </li></ul>… We’ll continue !
    8. 8. What We Do (Preferences) <ul><li>We invest alone in most cases, but we keep the subscription open for new investor(s) </li></ul><ul><li>Very challenging to match with the right people </li></ul><ul><li>Official Position (Board Seat, Advisor, Coach) </li></ul><ul><li>We prefer Entrepreneur-Investors who accept someone else holding the steering wheel </li></ul><ul><li>Too risky for Family&Friends </li></ul><ul><li>Voting Trust among the individuals to keep the cap-table simple, and ease decision making </li></ul>… partnering is about people and common objectives!
    9. 9. Questions? Thank You www.bdc.ca

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