SUW Funding StartUps, Timo Ahopelto

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SUW Funding StartUps, Timo Ahopelto

  1. 1. 1 October 28, 2009 Serial entrepreneurs co-creating growth companies in health and Web Funding start-ups Timo Ahopelto Founding Partner timo@lifelineventures.com
  2. 2. 2 October 28, 2009 Timo. Minulla on vanha vakava rytmihäiriö. R&D palaverissa olin saada sydänkohtauksen. Voinko mennä kotiin loppupäiväksi?
  3. 3. 3 October 28, 2009 Timo. I still believe that your company is the best. You are financially stable and you have the best technology. EUR 2.5 million in due payments > 100 days. My CTO almost got heart attack.
  4. 4. 4 October 28, 2009 Co-creating growth companies Petteri Koponen Timo Ahopelto Jarkko Joki-Tokola • Built four life sciences and telecoms companies to global market leaders • Raised in excess of €100 million in venture capital and angel investor funding • Built the best-performing venture-funded life sciences IT company in Finland • Worked in all the startup CxO roles in Europe, the US and Asia
  5. 5. 5 October 28, 2009 Call us if... • Your idea is revolutionary, industry-defining or otherwise bigger than life • You will lead a global category • Your team masters technology, science or core processes • You believe it would be fun to work together to create a ’once-in-a- lifetime’ experience and significant value fast
  6. 6. 6 October 28, 2009 Venture capital returns continue to slide Source: Cambridge Associates 2009 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Total value of paid-in capital by year
  7. 7. 7 October 28, 2009 Reason? We have moved away from entrepreneurs funding entrepreneurs How it used to be Today
  8. 8. 8 October 28, 2009 Call for experienced entrepreneurs to drive companies go international Select 2-3 start-ups /manager Managers work hands-on Managers invest into start-ups personally Public funding leverage from Tekes, Veraventure and Finnvera What did we decide to do in Finland by the Ministry?
  9. 9. 9 October 28, 2009
  10. 10. 10 October 28, 2009
  11. 11. 11 October 28, 2009
  12. 12. 12 October 28, 2009 About raising money...
  13. 13. 13 October 28, 2009 Fund-raising is easy for passionate entrepreneurs with big idea and capability to execute It is difficult only for MBAs with business plans
  14. 14. 14 October 28, 2009 Timing is everything. You need to raise against the next stage of expectations. Idea Alpha Real customers Real revenue growth $ $ $ $ $ Real traction
  15. 15. 15 October 28, 2009 Amount is important. You need to raise to deliver the expectations. Idea Alpha Real traction Real customers Real revenue growth $ $ $ $ $ Can this really scale? Is this really validated by customers? Does this work? Where is your trend-line?
  16. 16. 16 October 28, 2009 Story #2 Founding CEO of CRF Health – the company we just bought back from 3i plc and a top performing VC-funded Finnish IT company all time
  17. 17. 17 October 28, 2009 CRF Health funding story for EUR 25 million Idea Alpha Real customers Real revenue growth $ $ $ $ $ Real traction 2000 * Stratos Ventures * Angels 2001 * 3i * Stratos Ventures Not capable to attract new investors 2002 * NVP * 3i * Stratos Ventures Bridge funding from the investors 2010 Founders bought 3i out
  18. 18. 18 October 28, 2009 Business plan document is over-rated. Plans don’t close deals, results do.
  19. 19. 19 October 28, 2009 Network. But understand that networks do not close deals either - and if you are good enough, you don’t need networks to start.
  20. 20. 20 October 28, 2009 Have timeline and keep it. We will close this round by end of this year to have our product launched by end of Q1 next year.
  21. 21. 21 October 28, 2009 Ending words...
  22. 22. 22 October 28, 2009 Think what you would expect from someone you trust your money to?
  23. 23. 23 October 28, 2009 The list can become quite simple... Good idea Good team Big market Capability to execute Return for the money
  24. 24. 24 October 28, 2009 Serial entrepreneurs co-creating growth companies in health ad Web Contact us to talk more! Timo Ahopelto Founding Partner timo@lifelineventures.com

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