VC Story
Oct 28, 2010
2 McLEAN WATSON
MCLEAN WATSON HISTORY
• 1820 Trading Company (Asia)
• ….---…---…
• 1972 School friends
• 1987 – 1994 Softi...
3 McLEAN WATSON
Loudon F. McLean Owen
-
4 McLEAN WATSON44
LEADERSHIP & INNOVATION
1st Quebec IPO on Nasdaq 1992 - Softimage
1st Software only fund in
Canada
1996
...
5 McLEAN WATSON55
GROWTH RECORD
Company Stage of Investment MW Role Result
FloNetwork
(email marketing)
2 founders, 1 emp,...
6 McLEAN WATSON
Asset Management and Security via Satellite
7 McLEAN WATSON
Integrated Mobile Broadband Network: Wi-Fi, WiMAX and Cellul
8 McLEAN WATSON
Resistivity MT
Unconstrained
Isoclinal View
Looking North
100
Resistivity
Log10
500
1000
5000
10000
35000
...
9 McLEAN WATSON
INVESTING IN PEOPLE
• Success is all about people
• Active role – Chair/lead
• Balance

Vision/operations...
10 McLEAN WATSON
i4i
11 McLEAN WATSON1313
Michel Vulpe - Co-Inventor
12 McLEAN WATSON
1994 FILED US patent 5,787,449
• Tweed jackets and
blackboards
• Evangelists
• uncorrelated to the
capita...
13 McLEAN WATSON1616
Future Looks Bright…
14 McLEAN WATSON1515
GROWTH

1998 Patent Issues

USPTO – 30,000 seats

9/11: White/Green Papers
15 McLEAN WATSON1717
Tough Times
16 McLEAN WATSON
SURVIVAL?

2002 - massive change in sales pipeline

Internal adjustments

Every second light bulb remo...
17 McLEAN WATSON
Tuesday, January 27, 2004 11:24 AM
Loudon Owen
From: mvulpe [mvulpe@i4i.com]
Sent: Tuesday, January 27, 2...
18 McLEAN WATSON
May 20, 2009 - 2:35 PM
From: Thomas L. Crisman
[tcrisman@McKoolSmith.com]
Sent: Wednesday, May 20, 2009 2...
19 McLEAN WATSON
Verdict - May 20, 2009
20 McLEAN WATSON
Final Judgment
August 11, 2009
• Increased damages
for willfullness, post
verdict infringement,
pre & pos...
21 McLEAN WATSON
22 McLEAN WATSON
23 McLEAN WATSON2828
Twitter, Conan…Apocalypse Word
24 McLEAN WATSON
NEXT STEP

MSFT filed cert application, US Supreme
Court

Amici, $1.3 trillion, 3 million employees

S...
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Loudon Owen - McLean Watson Capital

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Successful Start-Ups: Successful Job Creators Tell Their Story

Loudon Owen
Managing Partner, McLean Watson Capital

MaRS Innovation Summit
October 28, 2010

Published in: Economy & Finance, Business
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  • Founder McLean Watson Capital Inc.
    - Chair i4i Inc.
    - Controlling investor in i4i Inc.
    - Chair i4i LP
    - Investor, Board & COO of Softimage pre MSFT acquisition
    Lawyer - private & public company board
    Insead MBA
  • Meeting
    Competition
    Promise & Handshake
    i4i’s Office
    i4i’s Vision
    SGML
    XML
  • NASA
    Awards
    Articles
    Top CTO’s & Founders
    Robot
    Newbridge
  • 1994 filed for US patent 5,787,449
    Tweed jackets and blackboards
    Evangelists1998 Patent Issues
    “Oracle of unstructured data”
    “Overthrowing the Tyrant”
    Key Customers - USPTO
    9/11
    White Papers, Green Papers…
    carriers, plane, tanks, financial services, manufacturing
    “Henry Ford of data manufacturing”
  • pipeline drop
    Internal adjustments
    Every second light bulb removed
    labels
  • How to handle press?
    Where to get help?
    Who is David, anyway?
    #1 Twitter, many blogs
    Objectives?
  • Loudon Owen - McLean Watson Capital

    1. 1. VC Story Oct 28, 2010
    2. 2. 2 McLEAN WATSON MCLEAN WATSON HISTORY • 1820 Trading Company (Asia) • ….---…---… • 1972 School friends • 1987 – 1994 Softimage Financing & IPO • 1994 Sale to Microsoft • 1996 – date: 2 VC funds • Canada & Asia
    3. 3. 3 McLEAN WATSON Loudon F. McLean Owen -
    4. 4. 4 McLEAN WATSON44 LEADERSHIP & INNOVATION 1st Quebec IPO on Nasdaq 1992 - Softimage 1st Software only fund in Canada 1996 1st VC in natural resources technology Only Canadian VC in this area - 2000 Only Canadian VC in Singapore/Asia Since 1999 Unique Asian Investor Links Singapore Government (1999) & Brunei Investment Agency 1st Canadian VC lead IPO in Singapore Ntegrator (2005) 1st Canadian VC patent enforcement/monetization i4i (2004-2009)
    5. 5. 5 McLEAN WATSON55 GROWTH RECORD Company Stage of Investment MW Role Result FloNetwork (email marketing) 2 founders, 1 emp, no product Lead investor, Chair Largest investor Sold to DoubleClick Fortiva (data management) FloNetwork founder incubated in MW office Lead investor, Director, Largest investor Sold to Proofpoint i4i (XML software) 2 founders, no emp or product Lead & majority investor, Chair drove IP strategy Awarded US$300M & injunction vs. Microsoft SkyWave (satellite M2M, asset tracking) 4 founders, introducing product Lead investor, Chair MW partner now CEO Inmarsat - #1 satellite Telemetry Softimage (3D animation SW) 1 founder, 2 emp, no product, concept only Lead investors, 2 directors, Co- COOs for 1 yr IPO on Nasdaq; sold to Microsoft for $200m CTL Immunotherapies (cancer vaccines) Incubated in MW office, 1 founder, no emp Lead investor, Director Merged to form Mannkind Now Mannkind pubco - $800M mkt cap
    6. 6. 6 McLEAN WATSON Asset Management and Security via Satellite
    7. 7. 7 McLEAN WATSON Integrated Mobile Broadband Network: Wi-Fi, WiMAX and Cellul
    8. 8. 8 McLEAN WATSON Resistivity MT Unconstrained Isoclinal View Looking North 100 Resistivity Log10 500 1000 5000 10000 35000 Rhyolite Contact Massive Sulphide Intersection Graphitic Argillite Drillhole Intersection Points MT L108 800m North Rhyolite Massive Sulphide IntersectionsChance Mineral Occurrence Massive Sulphide with Graphite 176,900 tonnes grading 12.8% Zn, 3.24% Pb, and 178g/t Ag IT Applied to Geophysics – Underground Snapshot
    9. 9. 9 McLEAN WATSON INVESTING IN PEOPLE • Success is all about people • Active role – Chair/lead • Balance  Vision/operations  Urgency/patience  Energy/maturity  Upside/risk mitigation  Idea/opportunity
    10. 10. 10 McLEAN WATSON i4i
    11. 11. 11 McLEAN WATSON1313 Michel Vulpe - Co-Inventor
    12. 12. 12 McLEAN WATSON 1994 FILED US patent 5,787,449 • Tweed jackets and blackboards • Evangelists • uncorrelated to the capital markets in an inefficient, poorly understood yet very important asset class
    13. 13. 13 McLEAN WATSON1616 Future Looks Bright…
    14. 14. 14 McLEAN WATSON1515 GROWTH  1998 Patent Issues  USPTO – 30,000 seats  9/11: White/Green Papers
    15. 15. 15 McLEAN WATSON1717 Tough Times
    16. 16. 16 McLEAN WATSON SURVIVAL?  2002 - massive change in sales pipeline  Internal adjustments  Every second light bulb removed  Refocus on pharma industry  Then more focus...on labels
    17. 17. 17 McLEAN WATSON Tuesday, January 27, 2004 11:24 AM Loudon Owen From: mvulpe [mvulpe@i4i.com] Sent: Tuesday, January 27, 2004 11:24 AM Subject: patent issues with microsoft To be very serious here - MS has filed a patent application in the EU that appears to be what we are doing in x4o and have been for many years - it may also be an infringment on our core patent - the implications are somewhat obvious i would think??
    18. 18. 18 McLEAN WATSON May 20, 2009 - 2:35 PM From: Thomas L. Crisman [tcrisman@McKoolSmith.com] Sent: Wednesday, May 20, 2009 2:35 PM To: Loudon Owen Subject: RE: We won 200M Tom
    19. 19. 19 McLEAN WATSON Verdict - May 20, 2009
    20. 20. 20 McLEAN WATSON Final Judgment August 11, 2009 • Increased damages for willfullness, post verdict infringement, pre & post verdict interest • Damages = $290M • Permanent Injunction, Microsoft to remove Custom XML feature within 60 days
    21. 21. 21 McLEAN WATSON
    22. 22. 22 McLEAN WATSON
    23. 23. 23 McLEAN WATSON2828 Twitter, Conan…Apocalypse Word
    24. 24. 24 McLEAN WATSON NEXT STEP  MSFT filed cert application, US Supreme Court  Amici, $1.3 trillion, 3 million employees  Stay tuned

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