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Mastering the VC Game presentation

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Summary presentation of the critically acclaimed book on venture capital and entrepreneurship by Flybridge general partner Jeff Bussgang (www.jeffbussgang.com)

Published in: Business, Economy & Finance
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Mastering the VC Game presentation

  1. 1. 1 Jeffrey Bussgang General Partner Flybridge Capital Partners www.jeffbussgang.com
  2. 2. 2 Entrepreneurship is about Passion 04/09/10 2
  3. 3. 3 Why I Wrote The Book • As an entrepreneur, I found venture capital to be a black box • As a VC, having seen the other side, I wanted to help entrepreneurs understand how to finance and build great companies • The book’s mission: to demystify the VC world for entrepreneurs and help them bring their dreams to fruition
  4. 4. 4 • $2.9 trillion – VC-backed businesses combined sales (20% of total business revenues in US) • 12 million – jobs at venture- backed companies (12% of US work force) • 1,000 – number of active VCs who make investment decisions in the US Give me a lever long enough, and I will move the Earth. - Archimedes Impact of Venture Capital: Huge Leverage
  5. 5. 6 • Visionary • Paranoid optimism • Huge passion • Magnet for talent What Makes a Great Entrepreneur
  6. 6. 8 Why Raise Money from VC Deep Pockets: High risk tolerance and additional funding for follow- on rounds Swing Big: VCs don’t invest in niches, they invest in transformative ideas that can build large companies Experience Matters: VCs have “seen the movie” over and over again and can help avoid pitfalls to find the path to success Value-Add: VCs provide domain experience, industry contacts, and strategic planning
  7. 7. 1104/09/10 11 • VC with healthy deal flow: opportunity to review 300-500 deals per year • Most of the deals that enter the process get nixed along the way • Most “active” VCs—typically have capacity to do no more than two deals a year(.2%-.7% chance of funding per partner) Chances
  8. 8. 1204/09/10 12 The Historical Trend New Venture Deals (1995 – 2008) Year
  9. 9. 9 • Scope out the firm – size matters, as does the individual • Arrange for a warm introduction • Prepare, Be Brief (VCs Blink), Don’t Downplay the Risk 04/09/10 9 Raising $ from VCs: Find the Sweet Spot
  10. 10. • Ideas are a dime a dozen • Having a world-class team is golden • Laser focus of the young entrepreneur is very powerful – E.g., Bill Gates, Michael Dell, and Mark Zuckerberg • Golden rule: 1004/09/10 10 The Right People: an Unfair Advantage
  11. 11. 1404/09/10 14 Being in Over Your Head It’s OK Follow the 80/20 rule Get help Communicate with the Board
  12. 12. 18 • Lifelong fascination with mapping real- time movements (bicycle couriers) • Founded dNET • Worked for Odeo • Created Twitter 04/09/10 18 Apply Your Passion: Twitter Jack Dorsey
  13. 13. 17 • Joined as CEO of Constant Contacts in 1999 • Pitched to over 100 VCs to secure financing • Led her company through Internet bubble collapse • IPO in 2007 • Nearly 500K customers and $130M in revenue 04/09/10 17 Never Give Up: Constant Contact Gail Goodman
  14. 14. 13 • Novel invention in cancer diagnostics • Sought VC help to build company • Staged capital in discrete pieces • Hired great CEO and founding team to take company forward 04/09/10 13 Run Experiments: Predictive Bio Marsha Moses
  15. 15. 1 Jeffrey Bussgang General Partner Flybridge Capital Partners www.jeffbussgang.com

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