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Q2 Quarterly Investment Briefing 2018 - Engine Shed

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Slides which accompanied the Q2 Quarterly Investment Briefing on 28th June 2018.

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Q2 Quarterly Investment Briefing 2018 - Engine Shed

  1. 1. Q2 Quarterly Investment Briefing Regional Investment Thursday 28th June @EngineShed_BB #QIBriefing Wifi: EngineShed Pw: GreaterBristol
  2. 2. QIB Guiding Principles Those who attend the Quarterly Investment Briefing share three common principles: • Whoever attends is an active or potentially active investor, or manager of investors – or enabler of investment activity. • Whatever is presented is informative, fact-based and regionally relevant. • We value the opportunity to learn equally with the opportunity to share.
  3. 3. Agenda 16:10 - 16:15 Welcome and introduction 16:15 – 16:55 Lightning Talks + Melanie Goward, Maven Capital Partners + Charles Grimsdale previously of Eden Ventures + Mike Jackson, Shaw & Co. 16:55 – 17:10 Q and A 17:10 - 17:20 What Beauhurst data tells us 17:20 - 17:50 Networking and drinks
  4. 4. Top funders by number of raisings
  5. 5. Top funders by value of fundraisings
  6. 6. Melanie Goward Maven Capital Partners @Maven_CP
  7. 7. Charles Grimsdale Eden Ventures @cgrimsdale
  8. 8. C GRIMSDALE Eden Ventures – Founding Partner June 2018
  9. 9. Mike Jackson Shaw & Co. @WebStartBristol
  10. 10. Funding in Bristol
  11. 11. Mike Jackson Built & sold tech events business £12m turnover, £2m EBITA Angel invested in 25 Bristol tech businesses Joined Shaw & Co to help local scaleups raise funds
  12. 12. Independent corporate finance advice. We help ambitious business owners successfully complete the most important transactions in their business lives.
  13. 13. Bristol – Year Zero 2014
  14. 14. 24 startups receive average £20K for 10% equity 10 week programme 9 raised approx £5m
  15. 15. Pre-Seed £100k-£500k Friends/Family/Fools Angels, Angel Clubs SEIS Funds Seed £1m-£3m Angel Syndicates/Clubs Family offices EIS/VCT Funds ICOs Early VCs Series A £5m-£10m VCs Mid-market Funds Funding
  16. 16. Gate 4 Exit Potential Gate 2 Market Size Gate 1 Solving a Problem Have they identified potential exit routes and show knowledge of similar exits? Do they have a detailed competitor analysis and clear market differentiation? Does the addressable market have headroom to allow the company to rapidly grow? Is the company solving a real problem for users/customers and is the solution sticky? Gate 3 Competitor Landscape Hard stops Gate 8 Traction Gate 6 Team and Board Gate 5 Funding & Valuation Can they demonstrate sufficient customers/revenue/active users to achieve funding goal? Is there a clear vision for the business and practical growth plans post-investment? What are the strengths and weaknesses of the current team and Board and what skills/roles are missing? Do they know what amount of funding is required, why and at what valuation? Gate 7 Business Plan Research Advice Strategy Planning Business KPIs Funding Readiness
  17. 17. ClosingMarketingPreparation 2 weeks 4 weeks 6 weeks • Analyse Term Sheets and select shortlist • Negotiate with potential funders • Select preferred funder and set exclusive period • Provide requested DD materials/access • Receive Funding • Email no-name teaser and follow up to gauge interest • Email Investment Deck and Financial Model to interested funds • Introduce funds to Management and arrange meetings via Email • Rehearse and critique Management Presentations • Agree target raise, valuation and timescale • Prepare five year Financial Model and stand alone Investment Deck • Refine Investor list • Plan Management Presentations • Identify Due Diligence requirements Meetings 2 weeks • First Fund and Management meetings/calls • Adapt Investment Deck, Financial Model and Management Presentations based on feedback • Second & Third Fund and Management meetings/calls • Set deadline for written offers • Receive Term Sheets 3-5 initial Meetings 1-2 Term Sheets5-10 Investment Decks issued Funding Process
  18. 18. E: mikejackson@shawllp.co.uk Contact
  19. 19. Charles Grimsdale @cgrimsdale Eden Ventures Melanie Goward @Maven_CP Investment Director, Maven Capital Partners Mike Jackson @WebStartBristol Director of Scale ups, Shaw & Co. Nick Sturge @nicksturge Director, Engine Shed
  20. 20. Briony Phillips Associate Director and Scale-up Enabler @Brionyphi1
  21. 21. Identifies 275 ‘scale-up businesses’ in the West of England
  22. 22. Five ‘triggers’ for inclusion Secured equity investment 1 Secured venture debt 2 Completed management buyout/in 3 Participated in selected accelerator programmes 4 Has been or is a scale-up 5
  23. 23. Stage of Evolution • 128 Seed stage (109) • 56 Venture (52) • 42 Growth (41) • 8 Zombie (7) • 13 Exited (8) • 28 Dead (28)
  24. 24. Top funders by number of raisings
  25. 25. Top funders by value of fundraisings
  26. 26. Sectors
  27. 27. Fundraisings
  28. 28. YellowDog Processing power The Mortgage Lender Home loan provision service Micrima Breast scanning technology Living Map Digitised maps Rovco Underwater surveying & inspection Left Handed Giant Brewery Raised successfully in Q2 2018 (26) Senta Cloud-based accountancy software Beta Boulders Gym - climbing, yoga and fitness Ziylo Carbohydrate sensing technology Lost and Gounded Brewers Brewery Rockit Automatic pram rocker Lupe Technology Cordless vacuum cleaners + Gamebench + Good Sixty + FluoretiQ + Go Faster Group + StatsBomb + LettUs Grow + Evolved Intelligence + Love Henri + ITEC + LUX Rewards + Bristol Distilling Co. + Shift2Go + Perceptual Robotics + Sekforde
  29. 29. Raising Q3 2018 – an open call FORTH £300k - biomarker profiling to test blood samples Alexander Joseph £220k – luxury cordless lamps Cerberus £500k – secure communications via microchip GROW BRISTOL £1.25M – nutrient dense & ultra local produce
  30. 30. Clifton Dragons Equity Seed Growth Corporate Finance West of England Investment Landscape Debt, loans, grants Funds Crowd funding Social ImpactFacilitators Incubators
  31. 31. Angel in residence – call for volunteers Regional Investment Funds - update New angel syndicate? The finance ecosystem in West of England
  32. 32. What next? 1. Tell me about investment events locally 2. Pick up one page summaries 3. Read the Quarterly Investment in Brief (newsletter) 4. Join us for the TechXpo – departing 17:40
  33. 33. Quarterly Investment Briefing For your diary: Thursday 27 September 16:00 TLT, 1 Redcliffe Street @EngineShed_BB #QIBriefing Wifi: EngineShed Pw: GreaterBristol

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