Flybridge Capital Partners


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Flybridge Capital Partners

  1. 1. Partnering with Talented Entrepreneurs to Build World-Class Companies CONFIDENTIAL PRESENTATION | PAGE 1
  2. 2. FIRM OVERVIEW •  Founded in late 2001 to take advantage of market dislocations Early-stage VC firm •  Five senior team members each with 15+ years of former investing and/orcreated by experienced operating experience with Greylock, Polaris Ventures, Upromise, Open Market and othersinvestors and operators •  Strong personal networks and domain expertise •  “Capital gap”: focus on capital-efficient start-ups, $1-6M initial investment, Differentiated strategy $6-12M in aggregate that resonates with •  Value-added support: collaborative, hands-on investors focused on strategic entrepreneurs guidance plus business development, marketing, and recruitment support •  Culture: open, accessible, transparent, entrepreneurs as customers Investing in technology •  Consumer Infrastructure •  Energy companies across four •  Healthcare categories •  IT •  $100M Fund I in 2002, $180M Fund II in 2005 and $280M Fund III in 2008 Strong limited partner •  Limited Partners include Alta Advisers, AlpInvest, Auda Partners, duPontbase across three funds Testamentary Trust, FLAG, GIC, Grove Street, HighVista, Knightsbridge, Princeton, TrueBridge, VenCap, Yale and others CONFIDENTIAL PRESENTATION | PAGE 2
  3. 3. WE HAVE AN EXPERIENCED TEAM THAT HAS WORKED TOGETHER Creative, innovative, entrepreneurial team where each general partner has broad-based business training plus either 15+ years of investing experience or senior operating experience in start-upsDavid Aronoff Jeff Bussgang Michael Greeley Chip Hazard Jon KarlenJoined 2005 Joined 2003 Joined 2001 Joined 2002 Joined 2005Greylock Partners Upromise 2000-2003 Polaris Ventures, Greylock Partners Oat Systems1996-2005 Open Market 2000-2001 1994-2002 2003-2005Chipcom 1995-2000 GCC Investments, Company Assistance NTRU Cryptosystems1989-1995 Boston Consulting 1994-2000 1991-1992 2001-2003Bell Labs Group 1991-1993 Wasserstein Perella, Bain & Company Greylock Partners1986-1989 Harvard MBA 1989-1994 1989-1991 1997-1999, 2003Harvard MBA Harvard College BA Morgan Stanley, Harvard MBA Stanford MBAUniversity of Southern 1985-1987 Stanford BA Harvard College BA EIR, Harvard BusinessCalifornia MS School’s Arthur Rock Harvard MBAUniversity of Vermont Center for Williams College BABS Entrepreneurship NVCA Board CONFIDENTIAL PRESENTATION | PAGE 3
  4. 4. ADDITIONAL TEAMMatthew Witheiler, Robin Heffernan, Victoria Song Nate Westheimer,Principal Senior Associate Associate AdvisorSummer Associate at Business strategy Research Associate at, co-Founder andJefferies Broadview, consultant for The Harvard Business School VP of Productsadvised on sale, IPO and Boston Consulting Group Organizer, NY Tech MeetUpdebt strategies (BCG) focused on the Launched United Crimes healthcare industry Elimination Network Brandeis UniversityATI, responsible for theTV on the PC integrated Ph.D. from Harvard incircuit product line Internships in the Sales Engineering and Applied and Trading Division ofCo-owner and Senior Sciences and a BA from Goldman, Sachs & Co. inHardware Editor of Harvard in Chemistry, New York and, built with highest honors. Consulting for NexTag inone of the world’s Londonlargest hardware reviewsites BA from Yale University in EconomicsMBA from Harvard andBA from Duke University CONFIDENTIAL PRESENTATION | PAGE 4
  6. 6. SUB-SEGMENTS WHERE WE FOCUSConsumer Enterprise IT Technology for EnergyInfrastructure •  Cloud Computing Healthcare •  Demand-side•  E-commerce •  Open Source •  Tools for Life Sciences Technologies•  Video •  SaaS •  Medical Devices •  Energy Storage•  Web 2.0 •  Virtualization •  Health IT •  Advanced Materials•  Financial Services / •  Mobile Apps & •  Connected Health •  Power management Payments Infrastructure•  Technology Enabled •  Platform Marketing semiconductors•  Mobile Apps & Infrastructure CONFIDENTIAL PRESENTATION | PAGE 6
  7. 7. PORTFOLIO BY SECTORConsumer Enterprise IT Technology for EnergyInfrastructure Healthcare33Across 10gen Brontes (acq. 3M) CalxedaBlackwave Bowstreet (acq. IBM) Magen (acq. PPD) CHiL (acq. InternationalBlueTarp Calxeda MicroCHIPS Rectifier)BzzAgent CHiL (acq. International PatientKeeper Digital LumensCartera Rectifier) PolyRemedy Eka Systems (acq. Cooper)ClickSquared Convoke PredictiveCrispy Gamer FirstBest Systems Protein Forest (acq. CellDataXu Go2 Biosciences)digitalArbor i4cp SciformixGo2 Infobright SpringLeaf TherapeuticsGoby Innerwireless T2 BiosciencesJingle (acq. Marchex) MOBIVOX (acq. SabSe) TARISlighterliving mValent (acq. Oracle)MOBIVOX (acq, SabSe) Nasunioneforty Reveal Imaging (acq. SAIC)Open English Sand 9Placemark Supplyscape (acq. TraceLink)Ready Financial Transpera (acq. Tremor)SavingStar VidSysSimpleTuition Virtual ComputerSports Loyalty ZING (acq. Dell)Transpera (acq. Tremor)ZING (acq. Dell) CONFIDENTIAL PRESENTATION | PAGE 7
  8. 8. INVESTMENT OVERVIEW Startups Emerging Recapitalizations (75%) Winners (20%) –Restarts (5%) Strong team and New team and vision Strong founding team existing VC support, around existing productCriteria with differentiated GA/beta product w/ asset with significant product/market vision significant pipeline/ historic investment momentum $1-3M initial, $6-12M in $3-6M initial, $6-12M in $2-6M initial, $6-12M in aggregate aggregate aggregate$ Invested 20-30% ownership 15-25% ownership 15-25% ownership target target targetFlybridge Role Lead or co-lead Lead or co-lead Lead or co-lead CONFIDENTIAL PRESENTATION | PAGE 8
  9. 9. OPERATING PRINCIPLES •  Responsible, committed, helpful board membersEntrepreneurs as partners •  Clean term sheets; fair valuations Clear, issues-driven •  Transparent process: “you know where we stand” due-diligence •  Work with talented entrepreneurs to build exceptional Demand Excellence and valuable companies CONFIDENTIAL PRESENTATION | PAGE 9
  10. 10. SUMMARYFlybridge Capital Partners represents an experienced team that partnerswith entrepreneurs and provides deep supportFlybridge Capital Partners leads or co-leads early to mid-stage companies,with a preference for capital-efficient businessesFlybridge Capital Partners builds value through providing experience,perspective and resources to the companies in which we invest CONFIDENTIAL PRESENTATION | PAGE 10
  11. 11. SUMMARYWe invite you to keep up to date on our firm and portfolio news Read our Blogs • Geek VC: David Aronoff: • Hazard Lights: Chip Hazard: • On the Flying Bridge: Michael Greeley: • Seeing Both Sides: Jeff Bussgang: • Venturing Forth: Jon Karlen: Follow us on Twitter Join our LinkedIn Group Be our Friend CONFIDENTIAL PRESENTATION | PAGE 11