Creating a sustainable African Venture Capital Association

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Creating a sustainable African Venture Capital Association

  1. 1. Creating a sustainable African Venture Capital Association Vicky Mudford
  2. 2. BVCA <ul><li>My background </li></ul><ul><li>History of European venture capital associations </li></ul><ul><li>Why was the BVCA founded? </li></ul><ul><li>Council & Secretariat </li></ul><ul><li>Members </li></ul><ul><li>Key audiences </li></ul><ul><li>Role of the media </li></ul><ul><li>Political Lobbying </li></ul><ul><li>Statistics & Publications </li></ul><ul><li>Committees </li></ul><ul><li>Communication </li></ul><ul><li>Then & Now </li></ul>
  3. 3. Why was the BVCA founded? <ul><li>The UK entrepreneurial culture </li></ul><ul><li>Political support </li></ul><ul><li>BVCA launched in 1983 by four v.c’s </li></ul><ul><li>Role of Arthur Andersen </li></ul><ul><li>Objectives : </li></ul><ul><li>- Country specific venture capital association </li></ul><ul><li>- Provide a regular forum for exchange of views </li></ul><ul><li>- Act as focus for members with government and other relevant bodies </li></ul><ul><li>- Develop/maintain highest standards of professional practice </li></ul>
  4. 4. Council & Secretariat <ul><li>Secretariat </li></ul><ul><li>Chairman </li></ul><ul><li>Council Members </li></ul><ul><li>Committees </li></ul><ul><li>- Education & Training </li></ul><ul><li>- Investor Relations </li></ul><ul><li>- Legal & Technical </li></ul><ul><li>- Regional </li></ul><ul><li>- Taxation </li></ul>
  5. 5. Members <ul><li>In 1983 - BVCA had 33 members, managing £250m </li></ul><ul><li>Why do you need them ? </li></ul><ul><li>Membership Categories </li></ul><ul><li>- Full members </li></ul><ul><li>- Associate members </li></ul><ul><li>- Honorary members </li></ul><ul><li>What do members want from an Association </li></ul>
  6. 6. What do members get out of it <ul><li>Networking opportunity </li></ul><ul><li>- lunches with guest speakers </li></ul><ul><li>- drinks parties </li></ul><ul><li>- Annual Dinner </li></ul><ul><li>- Training </li></ul><ul><li>- Legal, technical and regulatory support and publications </li></ul><ul><li>Public and political recognition for venture capital </li></ul>
  7. 7. Role of the Association <ul><li>Entrepreneurs </li></ul><ul><li>Investors </li></ul><ul><li>Intermediaries </li></ul><ul><li>Government </li></ul><ul><li>Opinion formers </li></ul><ul><li>But how do you reach them ….. </li></ul>
  8. 8. The role of the media <ul><li>How do you get them interested </li></ul><ul><li>How do you get people to talk to you about you </li></ul><ul><li>Fact or fiction </li></ul><ul><li>Catch 22 </li></ul><ul><li>- Research </li></ul><ul><li>- Publications </li></ul><ul><li>- Statistics </li></ul><ul><li>- Annual Conference </li></ul><ul><li>- Case studies </li></ul>
  9. 9. Political Lobbying <ul><li>Parliamentary Adviser </li></ul><ul><li>Get to know your Politicians & civil servants </li></ul><ul><li>- Annual Dinner </li></ul><ul><li>- Colloquium </li></ul><ul><li>- Party conferences </li></ul><ul><li>- Drinks Parties </li></ul><ul><li>- Tax Submission </li></ul><ul><li>Give Politicians what they want, not what you think they want </li></ul>
  10. 10. Statistics & Publications <ul><li>Only unique & start early </li></ul><ul><li>What, Why & When </li></ul><ul><li>- Directory of Members </li></ul><ul><li>- Guide to Venture Capital </li></ul><ul><li>- Sources of Business Angel Capital </li></ul><ul><li>- Economic Impact of Venture Capital </li></ul><ul><li>- Report on Investment Activity </li></ul><ul><li>- Fund raising activity </li></ul><ul><li>- Performance Data </li></ul><ul><li>- Valuation Guidelines </li></ul><ul><li>- Notes of Guidance </li></ul>
  11. 11. Communication <ul><li>Spreading the word </li></ul><ul><li>Use a PR agency </li></ul><ul><li>Or have an in-house Resource </li></ul><ul><li> </li></ul>
  12. 12. Committees <ul><li>Service to Members, setting industry standards and good practice </li></ul><ul><li>Education & Training </li></ul><ul><li>Investor Relations </li></ul><ul><li>Legal & Technical </li></ul><ul><li>Regional </li></ul><ul><li>Taxation </li></ul>
  13. 13. How do you pay for all this <ul><li>Mainly subscriptions </li></ul><ul><li>Income from events </li></ul><ul><li>Sponsorship </li></ul><ul><li>As the Association gains credibility, organisations will want to work </li></ul><ul><li>with you </li></ul>
  14. 14. Mistakes <ul><li>Data collection </li></ul><ul><li>Look at the experience of mature venture capital industries </li></ul><ul><li>Be commercial </li></ul><ul><li>Maximise returns </li></ul>
  15. 15. Then & Now <ul><ul><ul><ul><ul><li> </li></ul></ul></ul></ul></ul><ul><li>Turnover </li></ul><ul><li>Full Members </li></ul><ul><li>Amount Invested </li></ul><ul><li>Amount Raised </li></ul><ul><li>The name - venture capital, private equity or both? </li></ul><ul><li>www.bvca.co.uk </li></ul>

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