Mario Orasche, Eagle Ventures - presentation from TMT.Ventures'08 Zagreb (http://tmtevents.eu by New Europe Events)

1. EAGLE VENTURES
Technology Investing in Central and Southeastern Europe (CSE)
CSE Ready
For Tech VC
2008-10-28
Eagle Ventures HQ
Technology Park 19
1000 Ljubljana
Slovenia
+386 1 620 3420
Serbian Office
Cara Lazara 3
11000 Belgrade
+381 633 54 203
Croatian Office
Lučića 5
10000 Zagreb
+ 385 91 562 3094

2. Human Capital
Robust Position in the World
Human Capital
is one of the
key success
factors of the
region
 Managerial skills
 Serial entrepreneurs
 Reverse braindrain
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3. ICT in CSE
The Region is Ready for Tech
Significant
investments The Network Readiness Index 2007-2008 Rankings
into ICT
infrastructure
make CSE
ready for tech
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4. Internet Penetration
Surge in Online Accesses
Online access
is key in
today‘s Population Population Usage Growth
Countries
(2007) (% Penetration) (2000-2007)
business world
Bosnia 4,552,198 20.9% > 130x
Bulgaria 7,322,858 30% > 4x
Croatia 4,493,312 37.5% > 7x
Hungary 9,956,108 35.2% < 4x
Macedonia 2,055,915 19.1% > 12x
Montenegro 684,736 38.8% n/a
Romania 22,276,056 31.4% < 8x
Serbia 10,150,265 13.8% 2.5x
Slovenia 2,009,245 62.2% > 3x
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5. PE/VC Investments
Still Large Equity Gap
Several
technology as
well as
investment
Initiatives,
support VC
activities
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6. Exit Channels
Selected PE/VC-Backed Exits in CSE
Despite recently
increasing tech © 2008
Activity Exit Acquirer Price /
M&A activity in Company Investor Year
(Country) Type (Country) Multiple
the ICT sector,
ISP, Cable
CSE remains CCP, SEAF, BEWAG €55m /
TS 2007
Provider
SEEF (A) 10x
largely off the (HR)
VC industry ANI,
ISP T-HT €13.7m /
TS 2006
(HR) (HR) +5x
EPIC, DKC
radar screen
Job Portal Business Daily Mail £5.5m /
TS 2007
(HR) Angels (UK) +5x
Business T-online € 4m /
Web 2.0 (HU) TS 2006
Angels (D, HU) 10x (est.)
Cable UPC
AIG et.al. TS 2005 €335m
Network Broadband
(ROM) (NL)
Electronic
Mohar Satler €6.3m /
Horizonte TS 2007
Components
(SLO) 4x
(SLO)
Software & Business ComTrade
TS 2008 €40m
IT (SLO) Angels (SRB)
Telekom
Alternative Business
TS 2006 €26m
Slovenia
Telco (SRB) Angels
(SLO)
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7. Region
CSE Environment Ready for Tech VC Investing
© 2008
The CSE Characteristics 2003 2008
landscape for
Managerial skill sets Limited Significant
technology firms
has changed Serial entrepreneurs X Emerging
essentially
Reverse braindrain in tech industries Rarely Significant, gaining momentum
over the last
ICT infrastructure Poor Improving fast, leapfrogging
few years
ICT initiatives
Microsoft Technology Centers and R&D Present in a number of
Limited
departments of Ericsson, Siemens, locations and increasing
Cisco, HP, Oracle, SAP etc.
Internet penetration Limited Significant
Legal and political environment Weak Converging to EU
Purchasing power Low Medium
Business angel networks X Evolving
VC investors X Emerging interest
Exit channels Constrained Mostly TS / few IPOs
ICT INVESTMENT READINESS NOT READY READY!
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8. Introduction to Eagle Ventures
Unique Triple Focus
Eagle Ventures
is the 1st VC firm
prepared to
capitalize on the
vast untapped
CSE tech
CSE Tech
opportunity
VC
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9. Eagle Ventures’ Team
Multinational from CSE
Eagle’s set-up is
modeled after Fund Management Company
Supervisory
top tier West Board
Ivan
Mario George
FUND
Coast VC's Vrdoljak
Orasche Sarcevich
organizations to New Europe
MP, HR
Managing Partner, SLO MP, SRB
Tech I
Investment
add value to
Manager II
technology Julia
Damjan Vladimir
Arlt
Lampret Delic
companies and Portfolio Companies
Tech Expert, SLO HR and IR, SLO
Analyst, SRB
to maximize
returns Crucial Venture Capital Skill Sets
1 2 3 4 5-15
Venture Capital + Technology + Finance + Operations
Venture Partners
Venture Advisors
Hands-on Management Support to Portfolio
Advice on Investment / Divestment Decisions
Zdenek Karl Heinz Dragan
Alon Alan Peter
Bilek Messer Pleskonjic
Adler Barrell Globokar
Damir Peter Domen
Nino Peter
Sabol Szlavik Verdnik
Marakovic Zaboji
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10. Eagle Ventures’ Summary
Key Reasons to take Eagle Ventures on Board
Focused
+ Experienced
+ Regional
 Most experienced tech VC team in the region
+ Connected
_______________________
 Over 16 years of tech venture capital experience
= MAXIMIZING
COMPANIES’  Close to 50 years of ICT sector experience
VALUES
 Multinational team with deep local market knowledge
 10 nationalities, incl. ex YU
 World class regional, pan-European and global network
 High profile senior advisors from Silicon Valley, over Israel,
Cambridge and London to the region
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11. Eagle’s 1st Deal
A Potential ‘Home run‘ from CSE
Live Mobile
Video Streaming:
SLO/West Coast
team with global
market leader
potential
Media Player
Client Media Platform
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