5. 3
2
1
How finance works ?
Who are the actors ?
Goals / Question to answer
What do they want?
What you need to prepare ?
4
CASE
STUDIES
How to maximize
your opportunities?
50min - Coffee 20 min pause – 50 min
7. « Finance » diversified risks for investment
Seed VC is the most risky
8. Pure players
Niche experts
Corporate
Bank subsidiaries
Public funded
Venture Capitalist
10 % 20 % 30 %40 %
Evaluate
BP
Conduct
Due Dilligence
Maximise investment by
advising company board
and prepare exit
Raise fund money from
limited partners
*EVCA 2007
Reward
9. 5 years
Invest
Re-Invest
5 years
Divest
Risk balanced Portfolio
IRR = 50%
Funds management
2 M€ 2 M€ 2 M€ 2 M€
5 M€ 5 M€
2 M€
5 M€
5 M€ 10 M€
Why 50 M€ is only 5 investments (1 per year)
Serie A
Serie B
Serie C
Bootstrap PE IPOEnded M&A
21. VC example of choice
In which of those 4 companies
should I invest ?
Each one has the
most advanced
science in its area
targeting Billion €
markets
22. Dataroom
Investigator Brochure
Pharmacological data reports
CMC Product
Patent / FTO
Business Plan
Business model analysis
Key suppliers relashionships
Expenses prevision
Target Product Profile
Clinical dv plan
Preclinical dev plan
Risk analysis
Health economy / Regulatory
Science Book
Research publications
Conference poster and presentation
23. Investigator Brochure
Pharmacological data reports
CMC Product
Patent / FTO
Business Plan
Business model analysis
Key suppliers relashionships
Expenses prevision
Target Product Profile
Clinical dv plan
Preclinical dev plan
Risk analysis
Health economy / Regulatory
Science Book
Research publications
Conference poster and presentation
Raw data archive
Incubator
Accounting expert
Hospital R&D office
Reg expert
Parma industry share of practices
Drug dev expert
Just Do It
Dataroom
46. Why raise 1M€
Raise 1M€ for 18 months
9 months to structure the company
+ 9 months to raise 5-10M€ in serie A
- Recruit Research engineer
- Prepare technical dossier
- Conduct technical projects and milestones
- Recruit COO/BD
- Consolidate Dataroom
- Conduct the investor roadshow
50%
50%
47. Before to raise 1M€
InoVizi
RDI
33k€
BPI FrenchTech
Emergence
40k€
Capital
100k€ (prêts)
Love
Money
34k€
Réseau
Entreprendre
33k€
SATT / CLARA
INCUBATEUR
140+20k€
Surveys Market/IP R&D
200k€ (subventions)
Starting point
48. Before to raise 1M€
InoVizi
RDI
33k€
BPI FrenchTech
Emergence
40k€
Capital
100k€ (prêts)
Love
Money
34k€
Réseau
Entreprendre
33k€
SATT / CLARA
INCUBATEUR
140+20k€
Surveys Market/IP R&D
200k€ (subventions)
Starting point
49. How to raise 1M€
BA
50k€
Crowdfunding
250k€
VC-FNA
200k€
BPI
500k€
Leverage and traction effect
Contest
5k€
50. How to raise 1M€
Contest
Prize
5k€
Great
incentive
for team
motivation
Increase “business” peers recognition
51. How to raise 1M€
R&D
Increase “business” peers recognition
Phase2
PHRC - PRT
Market
access
