Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
L A K E S T A R
NOAH 2016 – A CRITICAL TIME
BERLIN, JUNE 2016
10 - 11 November 22 - 23 June
Save The Date
www.noah-conference.com
L A K E S T A R
2
L A K E S T A R
3 CALL TO ACTION
2 A CRITICAL TIME FOR VC IN EUROPE
1 “FROM EXAGGERATION TO WORLD’S LARG...
L A K E S T A R
3
EXAGGERATIONS ARE GOOD
Global VC Funding ($bn)
+390%
-78%
+183%
Source: Public Market data
L A K E S T A R
4
EXAGGERATIONS ARE GOOD
§  Own definition of a “bubble”:
A bubble in tech is a short-term over-excitement...
L A K E S T A R
5
SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM
APPROACH TAKEN
Source: Public Market data
L A K E S T A R
6
SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM
APPROACH TAKEN
Source: Public Market data
L A K E S T A R
7
SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM
APPROACH TAKEN
Source: Public Market data
L A K E S T A R
8
SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM
APPROACH TAKEN
Source: Public Market data
L A K E S T A R
9
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
18.0
10.0
10.0
10.0
10.0
 9.3
 7.3
 6.0
 5.6
...
L A K E S T A R
10
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
46.0
41.2
15.0 15.0 15.0
12.0 11.0 10.0 10.0...
L A K E S T A R
11
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
Fall 2014 Median
Funding $514m
Spring 2015 M...
L A K E S T A R
12
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
Fall 2014 Median
Funding $514m
Spring 2015 M...
L A K E S T A R
13
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
Source: WSJ, 2016
2014 Cumulative Value: $12...
L A K E S T A R
14
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
Source: WSJ, 2016
2014 Cumulative Funding: $...
L A K E S T A R
15
Valuations and Funding Volume for Top 20 Unicorns (in $bn)
Source: WSJ, 2016
2014 Cumulative Funding: $...
L A K E S T A R
16
Venture Capital Funding Volume Q4 2014 to Q1 2016 ($bn)
TO PUT THIS INTO PERSPECTIVE
$31bn
$22bn
Top 20...
L A K E S T A R
17Source: Pitchbook, KPMG, CBInsights, 2016
TO PUT THIS INTO PERSPECTIVE
Top 20 Unicorns
 2015
$31bn
$19bn...
L A K E S T A R
18
VENTURE CAPITAL IS
CATALYST FOR MAJOR
INFRASTRUCTURE
COMPANIES
L A K E S T A R
19
L A K E S T A R
3 CALL TO ACTION
2 A CRITICAL TIME FOR VC IN EUROPE
1 “FROM EXAGGERATION TO WORLD’S LAR...
L A K E S T A R
VC AS A CATALYST
US serves as an example – US VC ecosystem 20-30 years ahead
Source: Public market data
L A K E S T A R
VC AS A CATALYST
US serves as an example – US VC ecosystem 20-30 years ahead
42%
are VC-financed
Of all US...
L A K E S T A R
VC AS A CATALYST
US serves as an example – US VC ecosystem 20-30 years ahead
42%
are VC-financed
38%
of al...
L A K E S T A R
VC AS A CATALYST
US serves as an example – US VC ecosystem 20-30 years ahead
42%
are VC-financed
38%
of al...
L A K E S T A R
24
9%
of market cap
created by
VC-financed
companies
2006: of the world’s largest 10 companies:
ONLY A FEW...
L A K E S T A R
25
of market cap
created by
VC-financed
companies
2016: of the world’s largest 10 companies:
SINCE THEN, M...
L A K E S T A R
26
60%
of market cap
created by
VC-financed
companies
2016: of the world’s largest 10 companies:
SINCE THE...
L A K E S T A R
27
64%*
market share
of German
Companies in
Home Market
2016: Market Share German Companies in Germany
* E...
L A K E S T A R
28
2022: Market Share German Companies in Germany
??%
market share
of German
Companies in
Home Market
REPL...
L A K E S T A R
29
REPLACEMENT PROCESS WELL UNDER WAY
JanM90
AugM90
MarM91
OctM91
MayM92
DecM92
JulM93
FebM94
SepM94
AprM9...
L A K E S T A R
30
REPLACEMENT PROCESS WELL UNDER WAY
JanM90
AugM90
MarM91
OctM91
MayM92
DecM92
JulM93
FebM94
SepM94
AprM9...
L A K E S T A R
MANY INDUSTRIES AT RISK OF REPLACEMENT – JUST
ONE EXAMPLE
31
-15%
-6%
-13%
 -13%
44%
Change in US Car Sale...
L A K E S T A R
MANY INDUSTRIES AT RISK OF REPLACEMENT – JUST
ONE EXAMPLE
32
-15%
-6%
-13%
 -13%
44%
German Automotive Ind...
L A K E S T A R
33
L A K E S T A R
3 CALL TO ACTION
2 A CRITICAL TIME FOR VC IN EUROPE
1 “FROM EXAGGERATION TO WORLD’S LAR...
L A K E S T A R
34
TECH ECOSYSTEM AS A WHOLE RESPONSIBLE
Politics
Financial
Services
VENTURE CAPITAL IS
CATALYST FOR MAJOR...
L A K E S T A R
35
VC – STEP UP OF EUROPEAN FUNDRAISING CAPACITY
§  VCs have massive chance (and burden) to enable future...
L A K E S T A R
36
TECH ECOSYSTEM AS A WHOLE RESPONSIBLE
Politics
Press
Corporates
VENTURE CAPITAL IS
CATALYST FOR MAJOR
I...
L A K E S T A R
37
POLITICS – PUBLIC SUPPORT IMPORTANT
§  European Investment Fund
(EIF) has great initiatives to
enhance...
L A K E S T A R
38
POLITICS – PUBLIC SUPPORT IMPORTANT
§  European Investment Fund
(EIF) has great initiatives to
enhance...
L A K E S T A R
39
TECH ECOSYSTEM AS A WHOLE RESPONSIBLE
Press
Corporates
VENTURE CAPITAL IS
CATALYST FOR MAJOR
INFRASTRUC...
L A K E S T A R
40
§  Avoid 2000s with short term profit thinking – listing policies need to reflect
responsible IPO tactic...
L A K E S T A R
41
TECH ECOSYSTEM AS A WHOLE RESPONSIBLE
Press
Corporates
VENTURE CAPITAL IS
CATALYST FOR MAJOR
INFRASTRUC...
L A K E S T A R
42
PRESS – SENTIMENT IMPORTANT FOR SUCCESS
L A K E S T A R
43
TECH ECOSYSTEM AS A WHOLE RESPONSIBLE
Corporates
VENTURE CAPITAL IS
CATALYST FOR MAJOR
INFRASTRUCTURE
C...
L A K E S T A R
44
CORPORATES – DECISIVE ACTION NEEDED
§  Corporates need to break with historical competitor schemes and...
L A K E S T A R
45
•  DAIMLER COULD HAVE LEVERAGED
MASSIVE INFRASTRUCTURE TO CREATE
“EUROPEAN UBER”
•  VW INVESTED $300M I...
L A K E S T A R
46Source: Preqin Private Equity Spotlight, 2015
EXAMPLES / QUOTES, ETC
•  WHY PREFER FOREIGN
PRODUCTS OVER...
L A K E S T A R
47
§  We employ significant personal funds to increase overall fund-sizes.
§  We employ personal money to...
L A K E S T A R
Focus on Leading European Internet companies
Covering over 400 companies across 25
online verticals, a broad range of over...
Upcoming SlideShare
Loading in …5
×

Lakestar - NOAH16 Berlin

1,724 views

Published on

Keynote by Dr. Klaus Hommels, CEO of Lakestar at the Axel Springer NOAH Conference Berlin 2016, Tempodrom on the 8th of June 2016.

Published in: Economy & Finance
  • Be the first to like this

Lakestar - NOAH16 Berlin

  1. 1. L A K E S T A R NOAH 2016 – A CRITICAL TIME BERLIN, JUNE 2016
  2. 2. 10 - 11 November 22 - 23 June Save The Date www.noah-conference.com
  3. 3. L A K E S T A R 2 L A K E S T A R 3 CALL TO ACTION 2 A CRITICAL TIME FOR VC IN EUROPE 1 “FROM EXAGGERATION TO WORLD’S LARGEST BUSINESSES”
  4. 4. L A K E S T A R 3 EXAGGERATIONS ARE GOOD Global VC Funding ($bn) +390% -78% +183% Source: Public Market data
  5. 5. L A K E S T A R 4 EXAGGERATIONS ARE GOOD §  Own definition of a “bubble”: A bubble in tech is a short-term over-excitement of investors which is critical to mobilize private capital to fund the infrastructure companies for the next development phase. Global VC Funding ($bn) +390% -78% +183% Source: Public Market data
  6. 6. L A K E S T A R 5 SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM APPROACH TAKEN Source: Public Market data
  7. 7. L A K E S T A R 6 SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM APPROACH TAKEN Source: Public Market data
  8. 8. L A K E S T A R 7 SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM APPROACH TAKEN Source: Public Market data
  9. 9. L A K E S T A R 8 SHORT-TERM EXCITEMENT PAYS OFF IF LONG-TERM APPROACH TAKEN Source: Public Market data
  10. 10. L A K E S T A R 9 Valuations and Funding Volume for Top 20 Unicorns (in $bn) 18.0 10.0 10.0 10.0 10.0 9.3 7.3 6.0 5.6 5.0 4.8 4.1 4.0 3.8 3.3 3.1 3.0 3.0 3.0 2.9 1.6 0.8 0.5 0.2 0.3 0.9 2.2 0.5 0.5 0.8 0.1 1.2 0.5 0.2 0.5 0.3 0.9 0.5 0.5 0.6 Fall 2014 Median Funding $514m 2014 Source: WSJ, 2014 NOAH 2014 TOP 20 UNICORNS COMPARED
  11. 11. L A K E S T A R 10 Valuations and Funding Volume for Top 20 Unicorns (in $bn) 46.0 41.2 15.0 15.0 15.0 12.0 11.0 10.0 10.0 9.6 9.0 8.8 8.4 8.0 7.0 6.0 5.0 4.5 4.1 4.0 1.4 5.0 1.0 0.8 3.0 1.1 1.3 0.8 0.6 0.5 0.4 0.8 0.9 0.1 1.1 0.5 0.6 0.6 0.7 1.4 Fall 2014 Median Funding $514m Spring 2015 Median Funding $800m 2015 Source: WSJ, 2015 NOAH 2015 TOP 20 UNICORNS COMPARED
  12. 12. L A K E S T A R 11 Valuations and Funding Volume for Top 20 Unicorns (in $bn) Fall 2014 Median Funding $514m Spring 2015 Median Funding $800m 2016 Source: WSJ, 2016 NOAH TODAY TOP 20 = TRUE INFRASTRUCTURE COMPANIES Spring 2016 Median Funding $1.35 billion 62.5 46.0 25.5 25.0 20.0 18.3 16.0 16.0 15.0 12.0 11.0 10.0 9.6 8.5 8.0 8.0 7.0 5.5 5.0 5.0 14.1 1.4 2.3 5.0 1.9 3.3 2.4 1.4 3.0 1.1 1.3 0.6 0.5 1.5 0.1 0.9 1.2 1.4 0.3 0.9
  13. 13. L A K E S T A R 12 Valuations and Funding Volume for Top 20 Unicorns (in $bn) Fall 2014 Median Funding $514m Spring 2015 Median Funding $800m 2016 Source: WSJ, 2016 NOAH TODAY TOP 20 = ESSENTIAL PLATFORMS Spring 2016 Median Funding $1.35 billion 62.5 46.0 25.5 25.0 20.0 18.3 16.0 16.0 15.0 12.0 11.0 10.0 9.6 8.5 8.0 8.0 7.0 5.5 5.0 5.0 14.1 1.4 2.3 5.0 1.9 3.3 2.4 1.4 3.0 1.1 1.3 0.6 0.5 1.5 0.1 0.9 1.2 1.4 0.3 0.9
  14. 14. L A K E S T A R 13 Valuations and Funding Volume for Top 20 Unicorns (in $bn) Source: WSJ, 2016 2014 Cumulative Value: $124 billion 2016 Cumulative Value: $334 billion NOAH TODAY TOP 20 = TRUE INFRASTRUCTURE COMPANIES 62.5 46.0 25.5 25.0 20.0 18.3 16.0 16.0 15.0 12.0 11.0 10.0 9.6 8.5 8.0 8.0 7.0 5.5 5.0 5.0 14.1 1.4 2.3 5.0 1.9 3.3 2.4 1.4 3.0 1.1 1.3 0.6 0.5 1.5 0.1 0.9 1.2 1.4 0.3 0.9
  15. 15. L A K E S T A R 14 Valuations and Funding Volume for Top 20 Unicorns (in $bn) Source: WSJ, 2016 2014 Cumulative Funding: $13 billion 2016 Cumulative Funding: $44 billion NOAH TODAY TOP 20 = TRUE INFRASTRUCTURE COMPANIES 62.5 46.0 25.5 25.0 20.0 18.3 16.0 16.0 15.0 12.0 11.0 10.0 9.6 8.5 8.0 8.0 7.0 5.5 5.0 5.0 14.1 1.4 2.3 5.0 1.9 3.3 2.4 1.4 3.0 1.1 1.3 0.6 0.5 1.5 0.1 0.9 1.2 1.4 0.3 0.9
  16. 16. L A K E S T A R 15 Valuations and Funding Volume for Top 20 Unicorns (in $bn) Source: WSJ, 2016 2014 Cumulative Funding: $13 billion 2016 Cumulative Funding: $44 billion Δ = $31bn NOAH TODAY TOP 20 = TRUE INFRASTRUCTURE COMPANIES 62.5 46.0 25.5 25.0 20.0 18.3 16.0 16.0 15.0 12.0 11.0 10.0 9.6 8.5 8.0 8.0 7.0 5.5 5.0 5.0 14.1 1.4 2.3 5.0 1.9 3.3 2.4 1.4 3.0 1.1 1.3 0.6 0.5 1.5 0.1 0.9 1.2 1.4 0.3 0.9
  17. 17. L A K E S T A R 16 Venture Capital Funding Volume Q4 2014 to Q1 2016 ($bn) TO PUT THIS INTO PERSPECTIVE $31bn $22bn Top 20 Unicorns Source: Pitchbook, KPMG, CBInsights, 2016
  18. 18. L A K E S T A R 17Source: Pitchbook, KPMG, CBInsights, 2016 TO PUT THIS INTO PERSPECTIVE Top 20 Unicorns 2015 $31bn $19bn Venture Capital Funding Volume Q4 2014 to Q1 2016 ($bn) Entire VC funding in Europe was significantly less than the funding into the top 20 companies (same time span).
  19. 19. L A K E S T A R 18 VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES
  20. 20. L A K E S T A R 19 L A K E S T A R 3 CALL TO ACTION 2 A CRITICAL TIME FOR VC IN EUROPE 1 “FROM EXAGGERATION TO WORLD’S LARGEST BUSINESSES”
  21. 21. L A K E S T A R VC AS A CATALYST US serves as an example – US VC ecosystem 20-30 years ahead Source: Public market data
  22. 22. L A K E S T A R VC AS A CATALYST US serves as an example – US VC ecosystem 20-30 years ahead 42% are VC-financed Of all US companies founded after 1975: Source: Public market data
  23. 23. L A K E S T A R VC AS A CATALYST US serves as an example – US VC ecosystem 20-30 years ahead 42% are VC-financed 38% of all employees work for VC-financed companies Of all US companies founded after 1975: Source: Public market data
  24. 24. L A K E S T A R VC AS A CATALYST US serves as an example – US VC ecosystem 20-30 years ahead 42% are VC-financed 38% of all employees work for VC-financed companies 63% of market capitalization created by VC-financed companies Of all US companies founded after 1975: Source: Public market data
  25. 25. L A K E S T A R 24 9% of market cap created by VC-financed companies 2006: of the world’s largest 10 companies: ONLY A FEW YEARS AGO, VAST MAJORITY NON-VC Source: Public market data
  26. 26. L A K E S T A R 25 of market cap created by VC-financed companies 2016: of the world’s largest 10 companies: SINCE THEN, MASSIVE REPLACEMENT HAS HAPPENED Source: Public market data
  27. 27. L A K E S T A R 26 60% of market cap created by VC-financed companies 2016: of the world’s largest 10 companies: SINCE THEN, MASSIVE REPLACEMENT HAS HAPPENED Source: Public market data
  28. 28. L A K E S T A R 27 64%* market share of German Companies in Home Market 2016: Market Share German Companies in Germany * Example German Automotive Industry (value 2015: 63.8%). Source: Statista REPLACEMENT RISK IN GERMANY
  29. 29. L A K E S T A R 28 2022: Market Share German Companies in Germany ??% market share of German Companies in Home Market REPLACEMENT RISK IN GERMANY
  30. 30. L A K E S T A R 29 REPLACEMENT PROCESS WELL UNDER WAY JanM90 AugM90 MarM91 OctM91 MayM92 DecM92 JulM93 FebM94 SepM94 AprM95 NovM95 JunM96 JanM97 AugM97 MarM98 OctM98 MayM99 DecM99 JulM00 FebM01 SepM01 AprM02 NovM02 JunM03 JanM04 AugM04 MarM05 OctM05 MayM06 DecM06 JulM07 FebM08 SepM08 AprM09 NovM09 JunM10 JanM11 AugM11 MarM12 OctM12 MayM13 DecM13 JulM14 FebM15 SepM15 Newspapers Periodicals Books Internet publishing and broadcasting Motion picture and video production Cable and other subscription programming Radio broadcasting Employment in selected information industries over time Source: US Bureau of Labor Statistics
  31. 31. L A K E S T A R 30 REPLACEMENT PROCESS WELL UNDER WAY JanM90 AugM90 MarM91 OctM91 MayM92 DecM92 JulM93 FebM94 SepM94 AprM95 NovM95 JunM96 JanM97 AugM97 MarM98 OctM98 MayM99 DecM99 JulM00 FebM01 SepM01 AprM02 NovM02 JunM03 JanM04 AugM04 MarM05 OctM05 MayM06 DecM06 JulM07 FebM08 SepM08 AprM09 NovM09 JunM10 JanM11 AugM11 MarM12 OctM12 MayM13 DecM13 JulM14 FebM15 SepM15 Newspapers Periodicals Books Internet publishing and broadcasting Motion picture and video production Cable and other subscription programming Radio broadcasting Newspapers: -60% Periodicals: -36% Books: -28% Other Publishing: -50% Radio: -27% Employment in selected information industries over time Source: US Bureau of Labor Statistics
  32. 32. L A K E S T A R MANY INDUSTRIES AT RISK OF REPLACEMENT – JUST ONE EXAMPLE 31 -15% -6% -13% -13% 44% Change in US Car Sales 2014 to 2015 (for Audi, BMW, Mercedes & Porsche, value indicates drop in sales for comparable models such as Audi A7 / A8) Audi BMW Mercedes Porsche Tesla Source: Cleantechnica
  33. 33. L A K E S T A R MANY INDUSTRIES AT RISK OF REPLACEMENT – JUST ONE EXAMPLE 32 -15% -6% -13% -13% 44% German Automotive Industry at Risk: >800,000 Jobs >$460 billion Revenues >$200 billion Market-Cap Change in US Car Sales 2014 to 2015 (for Audi, BMW, Mercedes & Porsche, value indicates drop in sales for comparable models such as Audi A7 / A8) Audi BMW Mercedes Porsche Tesla Source: Cleantechnica
  34. 34. L A K E S T A R 33 L A K E S T A R 3 CALL TO ACTION 2 A CRITICAL TIME FOR VC IN EUROPE 1 “FROM EXAGGERATION TO WORLD’S LARGEST BUSINESSES”
  35. 35. L A K E S T A R 34 TECH ECOSYSTEM AS A WHOLE RESPONSIBLE Politics Financial Services VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES Press Corporates
  36. 36. L A K E S T A R 35 VC – STEP UP OF EUROPEAN FUNDRAISING CAPACITY §  VCs have massive chance (and burden) to enable future global leaders §  This requires significant funding and bold bets §  Step up of European fundraising capacity; already increasing fund-sizes & later stage funds €20m €15m €19m €19m €33m €85m €97m 2010 2011 2012 2013 2014 2015 2016 Median Fund Size Europe Source: Pitchbook
  37. 37. L A K E S T A R 36 TECH ECOSYSTEM AS A WHOLE RESPONSIBLE Politics Press Corporates VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES Financial Services
  38. 38. L A K E S T A R 37 POLITICS – PUBLIC SUPPORT IMPORTANT §  European Investment Fund (EIF) has great initiatives to enhance tech investments. §  KfW / BPI investment setup strong tool to funnel investments. §  Brussels is actively engaging – needs to react swiftly to oligopolistic threats. §  Private initiatives such as Internet Economy Foundation
  39. 39. L A K E S T A R 38 POLITICS – PUBLIC SUPPORT IMPORTANT §  European Investment Fund (EIF) has great initiatives to enhance tech investments. §  KfW / BPI investment setup strong tool to funnel investments. §  Brussels is actively engaging – needs to react swiftly to oligopolistic threats. §  Private initiatives such as Internet Economy Foundation §  CTO in White House / industry experts in politics §  Austria became hub for sports gambling due to regulation §  China proactively creates laws for drones instead of banning them §  Germany needs to embrace self-driving cars / transport inventions What is needed - some examples:
  40. 40. L A K E S T A R 39 TECH ECOSYSTEM AS A WHOLE RESPONSIBLE Press Corporates VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES Politics Financial Services
  41. 41. L A K E S T A R 40 §  Avoid 2000s with short term profit thinking – listing policies need to reflect responsible IPO tactics. §  Regulatory environment makes it nearly impossible for banks to market investment opportunities to their clients (family offices, High Net Worth Individuals). Anxiety through corporate governance leads to inertia. §  In Germany, institutional investors hardly take part in financing local venture capital. FINANCIAL SERVICES INDUSTRY
  42. 42. L A K E S T A R 41 TECH ECOSYSTEM AS A WHOLE RESPONSIBLE Press Corporates VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES Politics Financial Services
  43. 43. L A K E S T A R 42 PRESS – SENTIMENT IMPORTANT FOR SUCCESS
  44. 44. L A K E S T A R 43 TECH ECOSYSTEM AS A WHOLE RESPONSIBLE Corporates VENTURE CAPITAL IS CATALYST FOR MAJOR INFRASTRUCTURE COMPANIES Politics Financial Services Press
  45. 45. L A K E S T A R 44 CORPORATES – DECISIVE ACTION NEEDED §  Corporates need to break with historical competitor schemes and cooperate when in same sector (auto conglomerate buying Nokia HERE) §  Corporates need to engage in decisive M&A deals to retain competitive edge (Google & Facebook acquire 1-2 businesses per month) §  Decisive action means be bold and make significant bets §  Corporates need to commit their entire infrastructure to support tech M&A / tech partners
  46. 46. L A K E S T A R 45 •  DAIMLER COULD HAVE LEVERAGED MASSIVE INFRASTRUCTURE TO CREATE “EUROPEAN UBER” •  VW INVESTED $300M INTO GET TAXI – WITH THIS MONEY, MYTAXI COULD HAVE BEEN THE EUROPEAN MARKET LEADER
  47. 47. L A K E S T A R 46Source: Preqin Private Equity Spotlight, 2015 EXAMPLES / QUOTES, ETC •  WHY PREFER FOREIGN PRODUCTS OVER HOME- GROWN? •  TELEKOM CLOUD OFFERING: •  MICROSOFT •  HUAWEI •  VMWare
  48. 48. L A K E S T A R 47 §  We employ significant personal funds to increase overall fund-sizes. §  We employ personal money to fund the INTERNET ECONOMY FOUNDATION. §  We spend considerable time with Mittelstand initiatives & exchange on political level to work on decisive levers. §  Both chances & risks are greater than ever – our ecosystem needs to act unanimously. EVERYBODY IS ASKED TO TAKE UP THE CHALLENGE
  49. 49. L A K E S T A R
  50. 50. Focus on Leading European Internet companies Covering over 400 companies across 25 online verticals, a broad range of over 500 investors as well as 100+ online-focused corporates Deep understanding of industry dynamics Ability to add value beyond banking advice Facilitates overall process and minimizes management distraction NOAH Advisors is globally well connected and has direct access to virtually all key players in the industry Knowledge of and strong relationships with potential buyers’ key decision makers Proactively finds and unlocks attractive investment opportunities for leading investors Annual NOAH Conference in its 8th year Over 40 years of combined relevant M&A experience Routine execution of M&A and financing transactions with sizes of several billion euros 22 successfully completed NOAH Advisors transactions underline successful transfer of M&A competencies to the Internet sector Entrepreneurial mind-set, focused on growing the business and establishing a reputation for excellence Ability to deliver top results in short time frames Highly success-based compensation structures align interests of clients and NOAH Advisors, and demonstrate conviction to deliver top results Creative deal solutions September 2015 December 2014 September 2014 October 2014 May 2014 February 2013 May 2012 Sale of a 70% stake in to Exclusive Financial Advisor to Drushim and its Shareholders Sale of 100% of for $800m to Exclusive Financial Advisor to Fotolia and the Selling Shareholders Sale of 100% of for €80m to Exclusive Financial Advisor to Trovit and its Shareholders Sale of controlling stake in to Exclusive Financial Advisor to Facile.it and its Shareholders sold 100% of for $228m to a joint venture between Exclusive Financial Advisor to Yad2 and its Shareholders Growth equity investment from for a 30% stake alongside Softonic’s Founders and Angel Investors at a valuation of €275m Exclusive Financial Advisor to Softonic and its shareholders 150 million growth equity investment from for a 50% stake alongside Fotolia’s Founders and Additional $150 million senior debt financing Total $300 million investment Financial Advisor to Fotolia and its Shareholders Selected Completed NOAH Transactions Unique Industry Know-How Unmatched Network and Relationships Strong Investment Banking Competence Full Commitment - We Are Entrepreneurs! EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE May 2016 Investment in by Exclusive Financial Advisor to 10Bis and its Shareholders ®

×