Intel
Capital

Investing in Tech
Startups in CEE

Investing in Global
Innovation

Igor Taber

Investment Director
Intel Ca...
Global Investment Footprint
$10.8 billion+ in 1276 Companies across 54 Countries

Intel Capital Invested

Intel Offices an...
Intel Capital Facts in CEE/Russia(CIS)
First Investment: 1999/2002
Exits: 14/4
Number of
Investments:

Last Two Years:

28...
Investing in CEE
WRONG
CONSENSUS

NO CONSENSUS

RIGHT

?

√
Key Things to Consider
•
•
•
•
•
•

Deal Flow
Cash
Board
Add Value
Management
Local vs Global
Deal Flow
•
•

Quality/proprietary deal flow is the KEY
Few companies everyone knows –
•
•
•

•

Many companies no one kno...
Cash availability
• Growth comes with cash availability
• Follow-on cash is hard”ER” to get
• Only 8 growth/expansion deal...
Active Board Participation
• Take board seats; drive for balanced
board/decision making
• Boards in CEE often lack
•
•
•

...
Value Add
• Know when to Lean in/Lean back
• Introductions
• Ex: Intel Technology Days; Intel Global
Summit; other port-co...
Management/Founders
• Evaluate/benchmark vis-à-vis local market and not
the world (unless competing globally)
• Exit align...
Think Globally, Act Locally!
• Only consider GO Global (US), when:
•

•

You are in enterprise/ B2B segment or you reached...
About Intel Capital
Consistent Investor
2012

$352

M

32
57

Historical

1,276

Deals

$10.8

B

* Number Includes New and Follow-on Deals

5...
2012 Exits
35 portfolio companies exited in 2012: 28 via M&A & 7 via IPOs

*Other marks and brands are property of their r...
Supporting the portfolio
• Work with the Intel business units to get on stage demos for:
•
•

•

Intel events such as IDF ...
Supporting the portfolio - at a glance
4000 pieces of coverage for recent Global Summit
Unleashing the Power of Partnership
Regular, targeted meetings between Intel Capital portfolio companies
and the right dec...
Intel Capital Technology Days
Connect with the right decision makers at the right companies

And an additional 100+
Global...
IDCEE 2013: Investing in tech startups - Igor Taber (Director for Russia/CIS @ Intel Capital)
Upcoming SlideShare
Loading in …5
×

IDCEE 2013: Investing in tech startups - Igor Taber (Director for Russia/CIS @ Intel Capital)

1,420 views
1,251 views

Published on

http://idcee.org/p/igor-taber-intel-capital/

Igor Taber is a Director at Intel Capital’s Moscow office. He joined Intel Capital in 2008 to reestablish Intel Capital presence in the region. He focuses on investments in consumer internet, ecommerce, enterprise software, mobile and digital media in Russia and CIS countries.
He has invested and serves on the boards as observer or director of kupiVIP (ecommerce), Ozon (ecommerce), Altergeo (mobile) ,DeNovo (enterprise data center and cloud provider), Rock Flow Dynamics (enterprise software). He also invested and served on the board of Sapato (online footwear retail) before it was acquired by Ozon. Igor serves on the Board of Russia Venture Capital Association.

Igor joined Intel in 2001 and worked in US, German and Russian offices in number of operations, product management and business development roles. Prior to Intel Capital, Igor was Director for Business Development in Intel WiMAX Group where he led deal structuring and negotiations with Sprint Nextel which resulted in Sprint’s initial commitment to WiMAX for its 4G network. He was also Chief of Staff to VP and GM of Intel WiMAX group. Early in his career he was in product management defining Intel next generation optical and communication products.

Pic's are here: http://www.flickr.com/photos/idcee/sets/

More @ http://idcee.org

Follow us on:
YouTube: http://www.youtube.com/user/OfficialIDCEEChannel
Facebook: https://www.facebook.com/IDCEE
Linkedin: http://www.linkedin.com/groups/IDCEE-3940138
Twitter: https://twitter.com/idcee_eu
Google+: http://gplus.to/idcee
Flickr: http://www.flickr.com/photos/idcee/collections/

Published in: Business, Economy & Finance
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,420
On SlideShare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
13
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

IDCEE 2013: Investing in tech startups - Igor Taber (Director for Russia/CIS @ Intel Capital)

  1. 1. Intel Capital Investing in Tech Startups in CEE Investing in Global Innovation Igor Taber Investment Director Intel Capital Russia CIS 11 Oct 2013
  2. 2. Global Investment Footprint $10.8 billion+ in 1276 Companies across 54 Countries Intel Capital Invested Intel Offices and Intel Capital Invested Intel Capital is a stage agnostic, long term, active TMT investor $500m China Technology Fund II $250m India Technology Fund $50m Brazil Technology Fund $50m Middle East and Turkey Fund
  3. 3. Intel Capital Facts in CEE/Russia(CIS) First Investment: 1999/2002 Exits: 14/4 Number of Investments: Last Two Years: 28/13 9 deals Capital Deployed: 50% of capital Intel Capital is one of the largest and most active VC investors in CEE
  4. 4. Investing in CEE WRONG CONSENSUS NO CONSENSUS RIGHT ? √
  5. 5. Key Things to Consider • • • • • • Deal Flow Cash Board Add Value Management Local vs Global
  6. 6. Deal Flow • • Quality/proprietary deal flow is the KEY Few companies everyone knows – • • • • Many companies no one knows • • • • • Expensive Hype vs Reality A lots of capital Usually bootstrapped and profitable and founder managed Hard to effectively communicate with investors/pitch Governance is a challenge Seed vs Series A – no clear line Local presence is essential
  7. 7. Cash availability • Growth comes with cash availability • Follow-on cash is hard”ER” to get • Only 8 growth/expansion deals in Q2 • Ensure longer runways vs optimizing for dilution • Lack of cash will lead investors to unnatural decision making • Co-invest with parties that are able to continue funding the business plan
  8. 8. Active Board Participation • Take board seats; drive for balanced board/decision making • Boards in CEE often lack • • • Strategic vision Financial acumen Founders often lack effective board experience • Don’t try to run the business • Independents • • • • Mixed bag Window Dressing vs Value Add No to “professional board members” Yes to Operators who can add value to the CEO
  9. 9. Value Add • Know when to Lean in/Lean back • Introductions • Ex: Intel Technology Days; Intel Global Summit; other port-cos • Future rounds/Exits • Exit opportunities are limited (for now). #1 player in the segment will generate premium • Just like “tomatos” • 9 Brand name investors are key
  10. 10. Management/Founders • Evaluate/benchmark vis-à-vis local market and not the world (unless competing globally) • Exit alignment • Serious shortage of management talent – • • don’t assume you can easily replace founder CEO post investment – VERY hard to do If you don’t think current management can run the company for next 3 years – don’t invest • However, make tough decisions sooner rather then later 1
  11. 11. Think Globally, Act Locally! • Only consider GO Global (US), when: • • You are in enterprise/ B2B segment or you reached $50M in revenue in B2C and you are not in Consumer Internet You are able to attract talent in US that • • • • • PERFECT cultural fit between him/her and local team. Preferably as VP of Sales and Marketing (not a CEO) Ideally founders (including technical) are able to move No language barriers with local team Clearly differentiated/disruptive solution (cost base is not a differentiator) • Otherwise – focus, focus, focus! 1
  12. 12. About Intel Capital
  13. 13. Consistent Investor 2012 $352 M 32 57 Historical 1,276 Deals $10.8 B * Number Includes New and Follow-on Deals 54 37 7 New Deals Outside N.America % Dollars Outside N. America Countries % Dollars Outside N. America 28 IPOS Acquired 201 IPOS 317 Acquired Data as of Dec. 30, 2012
  14. 14. 2012 Exits 35 portfolio companies exited in 2012: 28 via M&A & 7 via IPOs *Other marks and brands are property of their respective owners
  15. 15. Supporting the portfolio • Work with the Intel business units to get on stage demos for: • • • Intel events such as IDF (Intel Developer Forum) External events with Intel presence: such as CES (Las Vegas), Computex (Taipei), MWC (Barcelona), E3 (Electronic Entertainment Expo, LA), CEBIT Various chairs of working groups • Invite to Intel Capital events such as: • • • • Silicon Valley VC events Consumer Board of Advisor meeting Enterprise Board of Advisor meeting Intel Capital Global Summit • Intel and Intel Capital Public Relations support
  16. 16. Supporting the portfolio - at a glance 4000 pieces of coverage for recent Global Summit
  17. 17. Unleashing the Power of Partnership Regular, targeted meetings between Intel Capital portfolio companies and the right decision makers drawn from Intel’s relationships with suppliers, partners and customers • • • 3500+ engagements between portfolio companies & customers in 2012 1800+ Intel Capital Global Summit Connect meetings 76 Intel Capital Technology Days resulting in 1700+ introductions
  18. 18. Intel Capital Technology Days Connect with the right decision makers at the right companies And an additional 100+ Global 2000 Brands… *Other marks and brands are property of their respective owners

×