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New Jersey Technology Commercialization Conference


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New Jersey Technology Commercialization Conference

  1. 1. New Jersey Technology Commercialization Conference December 8, 2004
  2. 2. Agenda <ul><li>What is Venture Capital? </li></ul><ul><li>Who is NJTC Venture Fund? </li></ul><ul><li>What do VCs look for? </li></ul><ul><li>Are you ready? </li></ul><ul><li>Beyond the first meeting – what to expect </li></ul><ul><li>The Deal </li></ul>
  3. 3. What is Venture Capital? <ul><li>Limited partnerships </li></ul><ul><li>Equity investments </li></ul><ul><li>Long term investors </li></ul><ul><li>Value-added investors </li></ul><ul><li>Generally focused on a specific area </li></ul>
  4. 4. Who is NJTC Venture Fund? <ul><li>New Jersey focus </li></ul><ul><li>Seed through expansion stage </li></ul><ul><li>Investing across all industries </li></ul><ul><li>$80 million fund </li></ul><ul><li>Networked Capital </li></ul>
  5. 5. What do VCs look for? <ul><li>What is the problem? </li></ul><ul><li>What has been done in the past to solve the problem? Why did it fail? Why are you different? </li></ul><ul><li>Who will be running the company? </li></ul><ul><li>Is there a deal that makes sense for everyone? </li></ul>
  6. 6. Are you ready? <ul><li>Target your pitch </li></ul><ul><li>Understand the costs of capital </li></ul><ul><li>KNOW YOUR MARKET </li></ul><ul><li>Consider alternative funding sources </li></ul><ul><li>How “baked” is the technology? </li></ul>
  7. 7. Beyond the first meeting <ul><li>References (customers, suppliers, management) </li></ul><ul><li>Financial models </li></ul><ul><li>Network contacts </li></ul><ul><li>Syndicate-building </li></ul>
  8. 8. The Deal <ul><li>Preferred stock </li></ul><ul><li>Participation and liquidation preferences </li></ul><ul><li>Anti-dilution </li></ul><ul><li>Board seats and veto rights </li></ul>