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Andrej Kiska - Credo Ventures - CZ - VC & Startup Ecosystem in Central Europe - Stanford - Jan 22 2018

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Talk by Andrej Kiska, Partner, Credo Ventures (Czech Republic), at Stanford on Jan 22 2018, in our session: 'Czechia & Slovakia : VC and Startup Ecosystems in Central Europe'.

Website: http://www.StanfordEuropreneurs.org
YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs
Twitter: @Europreneurs

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Andrej Kiska - Credo Ventures - CZ - VC & Startup Ecosystem in Central Europe - Stanford - Jan 22 2018

  1. 1. VC & Startup Ecosystems in Central Europe Andrej Kiska, Credo Ventures Stanford Europreneurs – School of Engineering January 22 2018 DISCLAIMER: This presentation contains super confidential proprietary information, some or all of which may be legally privileged. It is for the intended recipient only. If you are not the intended recipient you may not read, use, disclose, distribute, copy, print or rely on this presentation. © 2018, Credo Ventures a.s.
  2. 2. “Partnering with outstanding technology founders from CEE with global ambitions to realize their dreams” Advisory board €71Million in assets under management 7 investment professionals based in Prague + 1 in Menlo Park Esther Dyson Chair Reshma Sohoni (Seedcamp) Stuart Chapman (DFJ Esprit) Jan Hammer (Index Ventures) Andrew Banks (True) Exits Current Portfolio 2 funds Credo Stage I founded 2010 – 18 MM Credo Stage II founded 2015 – 53 MM Venture partners Martin Rehak (Cisco) Michal Pechoucek (Cisco) Tobias Rataj (Teradata) Karel Obluk (AVG) Tomas Orlik (GCWare)
  3. 3. Cred CREDO VENTURES’ TEAM Prague office: Ondrej Bartos, involved in the CEE startups scene since 1999, previously starred on the Czech Dragon’s Den Jan Habermann, co-founded and operated several companies before entering the VC world in 2006, Kauffman Fellow Vladislav Jez, launched the first VC fund in the region in 1994 and served as the president of the Czech PE and VC Association Menlo Park office: Andrej Kiska, opened our Silicon Valley office in 2017, Forbes 30 under 30, Central European Investor of the year 2016 by CESA 4 general partners working together since Credo’s inception in 2010 supported by a team of associates, executive assistants and advisors
  4. 4. FUND WITH MOST INVESTMENTS AND MOST EXITS IN CENTRAL EUROPE THIS DECADE Raised $30M Series A from: Sold to: Sold to: Sold to: Sold to:
  5. 5. 6 1. Historical Context 2. Czechs vs Slovaks 3. Our challenges 4. Funding Ecosystem Overview Agenda
  6. 6. 1. Historical Context
  7. 7. / Presentation title / date8 STRONG HISTORY OF CREATIVE INVENTIONS… Drunk tank / Sobering-up station Invented by Jaroslav Skala, Czech Republic Over 63 existing stations treated over 1.2mm people in Czechoslovakia Shutdown of such stations in Poland created overflow of patients in hospital‘s ERs Earthquake Machine N. Tesla (Croatia) deployed a small oscillating device that, when attached to his office and operating, nearly shook down the building. The Device weighted a few pounds The timing of the oscillator was tuned at such frequency that each little vibration added just a little more energy to the wave of flex in a building
  8. 8. / Presentation title / date9 …AND EVEN SOME SERIOUS ONES Lightning rod Invented by Propok Diviš in 1750’s Ship propeller Invented and patented in 1827 by Josef Ressel Contact lenses Invented by Dr. Otto Wichterle (Nobel Prize nominee 1993) Radio Co-invented by Josef Murgaš in 1900’s Nikola Tesla Over 300 patents: alternating current, x-ray, telecommunications… Ejection seat First layout proposed by Anastase Dragomir in late 1920’s
  9. 9. TODAY: HOME OF THE BEST TECH TALENT 2017 Data
  10. 10. 2. Czechs versus Slovaks
  11. 11. Slovak Success Stories
  12. 12. Czech vs Slovak Success Stories: USD 100 MM+ Successes Slovakia Czech Republic
  13. 13. Czech vs Slovak Success Stories: USD 10 – 100 mm Successes Slovakia Czech Republic
  14. 14. Slovakia Czech Republic Czech vs Slovak Potential Success Stories
  15. 15. CZ 2014 Exits Israel 2014 Exits Big Picture
  16. 16. Cred € 4.2 € 4.9 € 10.1 € 14.4 € 16.2 1,290 1,853 2,120 2,566 3,376 621 967 996 1,301 1,748 245 317 378 567 879 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 € 0 € 2 € 4 € 6 € 8 € 10 € 12 € 14 € 16 € 18 2012 2013 2014 2015 2016 Fundraising in Europe Deal value (€B) Deal volume (total) Angel/Seed Series A Source | Dealroom.co Europe is home to 30+ unicorns US funds participate more and more in European deals 25% of funding in 2016 came from US funds Opportunities come from all over Europe UK and Germany slowing down to make room for the rest of Europe At €25 per capita VC funding, Europe has a lot of room to match the US’s €231 WHILE EUROPEAN ECOSYSTEM AS A WHOLE IS GROWING FAST… 17
  17. 17. Cred 67 238 0 50 100 150 200 250 2010 2016 Central Europe Venture Capital Deal # by Stage Seed Start-Up Later Stage Total Sources | Invest Europe; KPMG; DealRoom.com; PWC €550M early stage capital invested in Central Europe since 2015. A level similar to Colorado, the 6th largest tech ecosystem of the US Launch of Credo Stage 1 2010 - 2016 VC Deal # CAGR: 20% Central Europe, 6% Europe, 6% USA Cred … CENTRAL EUROPE IS GROWING EVEN FASTER 18
  18. 18. 3. Where are the company builders
  19. 19. Our (aspiring) Stars* The USD 100 MM Business
  20. 20. Lack of billion dollar success stories leads to… …lack of billion dollar ideas Result of the Problem
  21. 21. 4. Funding Ecosystem Overview
  22. 22. Our Funding Ecosystem
  23. 23. With CredoJ
  24. 24. Thank you & questions kiska@credoventures.com

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