Estonian Development Fund @ MoMo St Petersburg

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Estonian Development Fund @ MoMo St Petersburg

  1. 1. EstonianDevelopmentFund (EDF)Stanislav IvanovInvestment ManagerMarch 27, 2011
  2. 2. Role of EDF Objectives:  introduce successful start-up companies internationally  promote the image of venture capital investors  boost venture investments in the local market  spread VC know-how and good investment practice Tasks:  invest into Estonian companies showing a potential for rapid growth and international success  activate and develop Estonia’s venture capital market by engaging co-investors and consolidating cooperation between the market players
  3. 3. Investment focus Early stage companies with:  ambitious international expansion plan  sustainable unique competitive advantage  strong team  scalable technology/business model  clear path to exit We can also invest into foreign companies that will establish headquarters in Estonia and bring significant part of their (R&D) activity to Estonia
  4. 4. EDF’s investment strategy1. Investment decision based on economic calculations.2. Investing together with independent private investors, pari passu conditions.3. Investee should have strong international growth perspective and sustainable competitive edge, usually in the go-to-market phase.4. Investment period typically 5-7 years.5. Invest only in expanding the share capital, not buying shares from exisiting owners. No grants.6. Share ownership of 10-49%.7. Expected annual return on investment projects (IRR) at least 35%.
  5. 5. POTFOLIO SmartPost – automated parcel service Ilmarine Engineering - machinery/engineering Goliath Wind – direct drive wind turbine Fits.me - virtual fitting room for online retailers United Dogs and Cats - social network for pet owners Biotap - metagenomics in environmental diagnostics Posterbee - private social network Sportlyzer - virtual fitness coach GrabCAD - market place for engineering services Cellin – stem cell transplants Modesat – cell phone backhaul modem Now! Innovations – cell phone parking payment Realeyes – analytics for eyetracking
  6. 6. Naval Ravikant, Founder of AngelListFeb 2011: „One of the secrets of global seed investing is, I can tell you right now because of AngelList, where the high quality companies tend to reside. In Europe the majority of them are London or Estonia.” „If I see a company coming out of Estonia I am reasonably assured that it will be executed well. That is because there is a lot of Skype alumni in Estonia. For its size, Estonia is generating more high quality startups than you would expect.
  7. 7. THANK YOU! Stanislav Ivanov Skype: stass.ivanov stanislav.ivanov@arengufond.ee www.arengufond.ee

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