4iP Investment Workshop Andy Pembridge

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4iP Investment Workshop Andy Pembridge

  1. 1. Screen Yorkshire and 4iPInvestment Workshop10th July 2010Andy Tait – Partner - Pembridge Partners LLPandy@pembridge.net<br />
  2. 2. Pembridge Partners<br /><ul><li>Provide advice and investment to businesses, helping to build and realise their value
  3. 3. Work across; digital, creative, media and related technology sectors
  4. 4. Apply our ‘been there, done it before and still doing it’ experience of growing and selling numerous businesses</li></li></ul><li>Your Business – Ideas are Commodities<br />Its all about execution <br />Team<br />Strategy<br />Don’t be stuck on an idea: <br />Have you thought through the rest of the idea, market etc<br />Listen to the market – we will<br />
  5. 5. Customers are King<br />Clear targeted products/services that solve real pain<br />Real validation of your market is vital <br />
  6. 6. Find & Know Your Competition <br />Think laterally <br />Not just companies <br />Consumer behaviour: <br />Inertia<br />Habit <br />Other products/services<br />We need to know that you know!<br />
  7. 7. Team TeamTeam<br />Investors do not fund business plans or great ideas<br />Ability to execute<br />Sector experience<br />Your CVs?<br />
  8. 8. “I need £1m to start with”<br />22-02-2010<br />Sure way to dilution – now and in the future<br />Start with smaller amounts and use the cash to further validate your proposition <br />Increases your valuation each time by setting clear inflection points <br />A New Co Ltd<br />1,000,000<br />One Million Pounds only<br />U N Likely<br />
  9. 9. Other Things We Don’t Want to Hear <br />“I have a killer product – the customer will come”<br />“We will reach our customer by viral marketing” <br />“I will use partners to sell my product”<br />“Our quality is superior”<br />
  10. 10. Investors are Not Risk Takers<br />The higher the risk – the higher the % you will have to give away<br />Your job is to prove you have mitigated the risk<br />
  11. 11. Adhere to the Fundamentals<br />Validate the market <br />Assemble a great team<br />Develop a profitable business model<br />Execute as perfectly as possible <br />
  12. 12. Games Company Case Study<br />Founding director funding, growing, profitable, new 3D technology developed<br />Business angel investment, high growth software and exit experience, not sector<br />Further growth, new market developments, IBM venture funding<br />IPO <br />ARM Holdings investment + licence for mobile<br />Sold to Glu Mobile 2008<br />
  13. 13. Lessons Learnt<br />Proven business and developed new technology de-risked investment<br />Angels enthusiasm and contacts can be incredibly valuable<br />Many avenues for investment, killer differentiators can be strategically important<br />Taking money in will change your business and the people involved<br />
  14. 14. Games Investing Today<br />Many opportunities in games and online entertainment<br />Look at the macro picture, digital distribution? Build for it<br />What other skills or understandings, new proven business models?<br />What support or other offerings are there that could even out the hit based nature of the business<br />Differentiate, differentiate, differentiate (not another iPhone/Facebook developer, please.....)<br />
  15. 15. Thank You!<br />Andy Tait - Pembridge Partners LLPandy@pembridge.net<br />

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