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2.Taneo
 

2.Taneo

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    2.Taneo 2.Taneo Presentation Transcript

    • Nikolas G. Haritakis
    • TANEO in a quote “TANEO is a true innovation in the field of public support for venture capital. Its structure broke new ground in involving private investors in helping to stipulate the creation of a venture capital market. TANEO has learned from experiences of others, has engaged high-quality professional advice and support and has created a team with capability to make a real difference to the financing of SMEs in Greece. I am proud of my past involvement with TANEO and wish it every success for the future” Rory Earley Chief Executive Capital for Enterprise Ltd BERR, Department for business, Enterprise & Regulatory Reform, UK TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO: Financial structure Hellenic Republic Guarantee Trustee TANEO EUR105m The Notes Note-holders First government Notes and sponsored fund of funds Residual Certificates Preferred Share Capital securitization in Europe Hellenic Republic EUR45m Unique structure of Notes Ordinary Share Capital Guaranteed coupon, Euribor -2bps Additional return Unlimited upside Share Trustee 8 times over-subscribed transaction TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • A sovereign-type structure (1) Fund of funds, with shareholders and bondholders Small part of funds under management are public Another small part comes from EU programs The majority is private money, raised as a bond with State guarantee on the principal and a 6month coupon payment < Euribor TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • A sovereign-type structure (2) Both shareholders and bondholders have equal profit sharing rights All powers appointed to a Trustee (Major European Bank) to establish professional trust mechanisms The management team is dedicated and committed through performance related contracts Performance is measured following investors received returns (Not agency-like compensation) Corporate governance and transparency are evident in all levels of operation TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO structure-operation Profit sharing Profit sharing Profit sharing Investment DB Combined capital Manager SME Investors Hellenic Capital Investment Republic Combined capital Investors Manager TANEO SME Institutional Combined capital Investors Capital Investment Investors Manager Combined capital Investors SME Profit sharing Investment + Manager State Guarantee on capital & interest Profit follows mutual agreements SME and loss follows capital in the entire structure but the red part TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • ΤΑΝΕΟ’s original objectives Upgrade the Hellenic Venture Capital Market Mobilize professionals to the market Support the development of SMEs Attract funding from local and international investors (institutional & individuals) Provide high IRR to Investors Facilitate a sound development of all the above in Greece TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Proceed by example Similar initiatives were very successful in Israel and GB. YOZMA Established in 1993 Developed VC market in Israel, attracted foreign investment and leveraged the scientific potential UK High Technology Fund Boosted early stage and hi tech investments TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO’s Successes Established Sovereignty in VC market Created and established a competitive venture capital industry (11 new VCs) Introduced EU regulatory framework and EVCA reporting guidelines Co-invests with institutional & private investors upon extended due diligence Invests in People Induced competition and collaboration in VC market Externalize the pre/existing collaboration in Easter Europe area Model objectives: Efficiency & Coordination  Overcome sovereignty issues  Combine State’s and investors’ interests TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO VC FUNDS TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO: EBT performance ΕΒΤ 3,000 2,000 1,000 0 ΕΒΤ -1,000 -2,000 -3,000 2004 2005 2006 2007 2008 TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO: Investment Activity 160,000 140,000 120,000 100,000 Commitments 80,000 Investments 60,000 40,000 20,000 0 2004 2005 2006 2007 2008 2009 (projections) TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Our portfolio in numbers Co-established 11 Venture Capital Funds Participations in 20 Greek SMEs €25,000,000 invested capital ICT – Health related – Energy – Food & Beverages - Industrial material - Logistics – Property development 3 IPOs in Athens Stock Exchange Alternative Market TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Our portfolio in numbers IRR on realized investments 20,7% Medical devices 47,4% Agricultural products 339% & 184% Energy Expected IRR on unrealized investments in energy sector 168% TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Portfolio companies Information Technology www.taneo.gr
    • Portfolio Companies Industrial Products- Materials Special Property Development TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Portfolio Companies Food-Beverages-Agricultural products Biotechnology-Health Logistics TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Portfolio Companies Energy-Green Projects Ionia Energiaki S.A. - Aigaias Anaptyxiaki S.A. ENEP S.A. - Ensol Anaptyxiaki S.A. TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Expected investments Renewable energy Logistics Defense technologies Composites Recycling Food Smart applications TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO and OTHERS Fostering Innovation Strategic and Founding partner for Microsoft Innovation Center (MIC) in Athens TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • With the vision to become an “innovation accelerator” and support the growth of the Greek software economy, the Microsoft Innovation Center in Athens will have a dual role of: Helping lay the foundation that will  Enable innovation and entrepreneurship  Trigger new ideas Facilitating the execution of ideas by  Supporting select innovative ideas through implementation  Promoting final products or services TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • The Innovation Center plans to achieve these goals by:  Offering free software tools to startups and students  Facilitating access to funding  Arranging competitions targeting technological innovation  Hosting events directly relevant to innovation and entrepreneurship  Offering technological and business skills trainings  Using Microsoft’s vast partner, business and worldwide Innovation Center Network to support the growth of new ventures  Promoting new ideas at a local and international level using Microsoft’s PR engine TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO and OTHERS Fostering Mentoring: Partner for mentoring networking, between US Universities Alumni, Hellenic Federation of Enterprises (SEV), Associations of enterpreneurs Fostering Networking: Organize the annual International Venture Capital Forum and launching of online community www.vcworld.gr TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Venture Capital Forum A unique two-day event dedicated to raising financing for ambitious and dynamic entrepreneurs, business oriented researchers and new technology-based firms. The event also provides a forum for institutional and other investment professionals to meet with policy makers, entrepreneurs, academics and researchers for an open exchange of views and ideas. TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Venture Capital Forum The 10th International Venture Capital Forum will take place in Hilton Hotel, in Athens, on 16 & 17 June 2009. Entrepreneurs and researchers are invited to submit their investment proposal(s) the latest by 4th May 2009 at info@vcforum.gr TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • www.vcworld.gr TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Fostering Networking TANEO VC SMEs VC FUNDS FUNDS TANEO FUND MANAGERS FUND MANAGERS SMEs TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Towards the new endeavors We have… Learnt lessons Built-on experience Established brand and we will… Capitalize on current achievements Leverage synergies Satisfy market needs Raise opportunities Invest in real values TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Current Outlook In 2007, Greece was the third largest source of capital for European funds due to MIG buyout fund The sectors that attracted venture deals were the life sciences (33,3%), computers & consumer electronics (33,3%) and communications (33,4%) The EU average ratio of PE/VC investments as a percentage of GDP was 0.584% and in Greece was 0.199%. EVCA Yearbook 2008 Greece is still in an early stage of PC/VC growth and although VC may appear to be conservative, Greek firms are also in need of maturing to attract interest TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • TANEO is here… TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market
    • Thank you for this opportunity! TANEO, the Sovereign Fund of funds Your dominant partner in Greek VC market