1. Irish Technology Capital
European Technology Venture Fund
January 4, 2010
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2. Supporting the entrepreneur
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3. Management Team Backgrounds
John Hartnett Rich Moran Brendan Richardson
• 20 year veteran of Silicon Valley • 25 year veteran of Silicon Valley • 18 year veteran of Silicon Valley
• CEO, G24i • Partner, Venrock • Partner, Vision Capital
• Former EVP Worldwide Markets • Renowned business consultant, • 12 year venture career including 8
Palm, Inc social scientist, best-selling author, investing in Ireland and Europe.
organizational effectiveness • Former Director, Private Equity at
• 20+ years with Handspring, evangelist.
Metacreations, Claris, AT&T and Investure, $7B consortium of
DEC. • Former Senior Partner, Accenture – Endowments and Foundations
Technology, Media, Entertainment • Extensive network of US and
• Founder – Irish Technology Practice
Leadership Group European venture investors.
• 5 highly successful ICT exits as an
• Member – American-Ireland Fund Angel Investor – GluMobile, Portal
and US-Ireland Alliance Software, etc
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4. Advisory Group
The ITLG is supported by an Advisory Group of executives and
professional advisors from both the public and private sector
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5. Irish Technology Capital
• $100M venture fund investing in early
and growth stage European technology
companies with global potential
• Key sectors: Clean Energy, IT and
Wireless.
• Dual HQ in Silicon Valley and Europe
• Experienced: 20 year track record of
successful operational, entrepreneurial Ireland
and venture capital
Silicon
• Connected : Irish Technology Leadership Valley
Group ‘Ecosystem’
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6. Why Ireland?
• World-class Universities
• 20+ years of direct foreign
investment from multi-national
technology leaders ($13B in 2008)
• Established and seasoned “local”
venture capital eco-system: VCs,
Legal, HR, etc.
• Strong entrepreneurial drive and
cultural alignment with US
• Relatively un-touched by US VCs
• Start-ups have great promise but
require direct access to Silicon
Valley
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7. Investment Thesis – Invest Local, Build Global
• European /Silicon valley, connected fund.
– Access and Co-Investment with US VCs
• World class network and advisory board
– Networks into key customers
– Mentoring of Management
• Irish Innovation Centre
– European launch pad in Silicon valley
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8. What Do We Do?
ITC invests and then delivers the keys to US success:
• Market Knowledge - Understanding the real dynamics in the US market
- Competitive Analysis: (Known and under-the-radar)
- Market sizing and discovery: How big is the TAM? Where are the real opportunities?
- Understanding the VC landscape: Who are the best VCs to partner with?
• Positioning - Setting the ground conditions for maximum potential
- Enhancing Profile and rising above the Noise
- Public Relations and Marketing
- Guerrilla Marketing
• Execution - Getting it right the first time
- Hiring
- Product and Channel Management
- Strategic Partnering
- Lead Development
- Sales & Marketing
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9. Challenges for 2010
• Micro – Investing in Europe
– Raising a venture fund is challenging
– Everyone is cautious
– Deal environment is improving but still difficult
• Macro – US and Globally
• European/US economy is still fragile
• Exits. Exits. Exits.
Total # of venture backed IPOs?
• 2007: 117 Total value: $10.3B
• 2008: 6 Total value: $470M
• 2009:* 8 Total value: $1.2B *thru Q3
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10. Thank You
Contact:
John Hartnett
Irish Technology Capital
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