corporate venture capital, vc, netherlands, chemicals, stanford, burton lee

1. Corporate Venture Capital at DSM
The Life Sciences and Materials Sciences Company
23000 Employees; Global operations; 200 locations
2007 revenue x € million
Nutrition 2,590
Pharma 1,031
Performance
2,392
Materials
Polymer
1,475
Intermediates
Base Chem. &
1,284
Materials Erik Rutten
February 2009
DSM Venturing

2. DSM Venturing team
Erik Rutten
Sr Investment Manager
24 years at DSM.
R&D and Bus. Dev.
Marc Schüler, General Manager Venturing
Yvonne Engelen, Senior Investment Manager University Twente (NL)
Casper Bruens, Investment Manager/Manager LV
Jinyue Wang, Venturing Manager China Chemical Technology
Kurt Du-Mong, Investment Manager
Ian Freelance, Investment Manager
Marcel Kloosterman, Senior Associate
DSM Venturing

3. Venturing is part of the Open Innovation Process
1a Market Scouting / Business Intelligence
2
Joint 4a
Business Licensing
Developments In 5
Venturing 6a
Spin in
1 Fuzzy Front End
7a
Acquisitions
1c.
Interaction
/ Synthesis
7b
6b Divestments
4b Spin out
Licensing
3 Out
R&D services
1b Competence Development, Technology Intelligence
8 Intellectual Asset Management
DSM Venturing

4. Objectives : 1. Strategic, 2. Financial
1st filter: Strategic fit
1a: Does it fall within DSM’s knowledge
base?
1b: Are there (potential) strategic benefits
for business (who will ‘host’/support and
why)?
yes
REJECT
2nd filter: VC criteria
2a: Is it a viable business proposition?
2b: Is there an attractive return potential?
2c: Are there exit opportunities other than
spinning-in?
yes
DSM Venturing INVEST

5. Strategic search areas for DSM Venturing
Performance Biomedical
Materials Life Science Pharma
Materials
Bio- Biopharmaceuticals Generics
Nano- Materials
Applications
Industrial
Functional Biotech
Coatings Delivery/
(Bio)Chemical Formulation
Functional Conversions and Cosmeceuticals
Materials Processes
Personalized
Nutrition
Life Science Food
Specialty
Packaging Nutraceuticals Dietary Supplements Vitamins
DSM Venturing

6. Current company stage scope
Sales
0.5 – 15 MM$
Risk
High 5 – 25% share High
Global presence
Investment & Risk
DSM Venturing
"Angels"
Sales
Public/PE
Financing
Grants
gap
Venture Capital
Investment
amounts
Low Low
Emerging
Technology Proof of principle Commercialization Expansion
Time
DSM Venturing

7. The Life Sciences and Materials Sciences Company
Thank you.
DSM Venturing