Seed capital


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Seed capital

  1. 1. A presentation of SEED Capital – and an introduction to what we look for in startupsJakob Ekkelund, SEED Capital April 2013
  2. 2. Agenda SEED in numbers (I) 1. Intro to Seed capital 2. Investment process and criteria 3. Cases
  3. 3. About Me: in numbers (II) SEEDJakob Ekkelund, Investment Manager (ICT), SEED Capital • Cand. Merc (CBS) • Business experience – TDC Consumer, Head of Strategy – TDC, Strategy consultant – TDC, Graduate Traniee – TDC, Finance • Startup experience: – – Rainmaking – – Sidneylë • Selected board positions: – Vivino – Bownty – Wantr – Leikr
  4. 4. 1 • Intro to Seed Capital
  5. 5. Who is SEED Capital? SEED Capital is a venture capital company who finance and assist competent entrepreneurs based in Denmark and Southern Sweden developing Life science, IT, and Cleantech companies of the future. In addition, SEED Capital acts as venture partner for government funded pre-seed investments through DTU Symbion Innovation.
  6. 6. Investment focus Energy production efficiency (solar, wind, CHP) General Cleantech Energy storage (fuel cells and batteries) Cleaner and/or less resource demanding technological processes (industrial and material)Seed/early stageto exit, earlysyndication Pharmaceuticals and medtech (devices/diagnostics) Lifescience ―Personalized‖ diagnosis and treatmentDenmark and Opportunistic investments in ―ground breaking technology‖southern SwedenLocal academicand industrial Software: SaaS, mobility and convenience (Location Basedcenters of Services) Crowd Sourcing, crossover consumer-excellence social/enterprise IT Hardware: Embedded systems, energy technology, signal processing, automation/robotics, nanotechnology Tele/mobile: Mobile location based services, mobile marketing, mobile commerce
  7. 7. 70 companies in portfolio IT Lifescience Cleantech
  8. 8. Where do set in? Market-Focused Business Technology creation Commercialization and Product development Cash flow Sales Time Valley of Death Typical Governement & Seed & Business Venture Capital Stockinvestors pre-seed angels Public Sector Private Sector DTU Symbion Innovation SEED Capital
  9. 9. SEED key figures• Managing 1+ bn. DKK – 2 Venture funds: • SEED Capital Denmark II (530 mDKK) • SEED Capital Denmark K/S (532 mDKK) – DK’s leading innovation environment (IM): • DTU Symbion Innovation A/S (2010: 50 mDKK for investments)• 70 portfolio companies• 12 exits with >1x on invested capital, 2 IPO’s• 20 FTE
  10. 10. Annual activities in brief SEED in numbers (II) 500+ business proposals 100+ meetings ~15 DTU Symbion Innovation investments 3-4 SEED Capital investments
  11. 11. Investment sizes Private funding Public funding 0,8 - 6,7 mio. € 5 - 50 mio. DKK 40% 0,3 mio. € 2,5 mio. DKK 82% 0,5 mio. € 3,5 mio. DKK Time
  12. 12. How it works with funds Fund no. 1 Fund no. 2 Fund no. 3 Fund no. 4 Cash in no. 1 Cash in no. 2 Investment Execution Investment Execution Investment Execution Investment 3-4 years 10 (+2) years
  13. 13. Why should an numbers (II) SEED in entreprenur chooseSeed Capital • Money • Involvement through Board of Directors • Network • Great track record • We can take a company from the early stages and take it all the way..
  14. 14. 2 •Investment process and criteria
  15. 15. The investment processPhases: Introduction Convincing Deep diving CompletionActivities: - Project - Internal Pitch - Due diligence - Final papers screening - Partner - Investment - Meeting presentation recommen- dation - Term SheetMaterials: - Teaser/Business - Partner deck - 2o pages - Investment & Plan (10 powerpoint Investment shareholder slides) recommen- agreement + - dation
  16. 16. What we look for - in broad terms Cheaper 10X Smaller Bigger Faster More efficient With a market potential of more than 1 billion €
  17. 17. Investment Criteria - I Team/Management The management of the company has to consist of people with entrepreneurial spirit and relevant and well- documented professional qualifications—or have the prospect of developing them. The management has to complement each other (No programmers / only programmers) and together form a visionary, cooperative, and dynamic team.
  18. 18. Investment Criteria - II Market The newly developed product must be in an attractive market segment that is potentially large, rapidly increasing, or undergoing major restructuring, making new markets for the mentioned product possible
  19. 19. Investment Criteria - III Product The product is highly innovative and has a remarkable and continuing competitiveness. The technology is an epoch-making discovery, and the company has preferably patented the discovery. Its imperative that the product solves a ’burning’ pain for clearly identified customers
  20. 20. Investment Criteria - IV Scalability The company is highly scalable and the model of income has a significant chance of generating extensive growth and, in time, obtaining considerable profitability.
  21. 21. Investment Criteria - V Exit The investment has potential for a full exit. There should always be more than one exit option. The evaluation of the company looks favorable compared to the existing market conditions.
  22. 22. Short cut .-)
  23. 23. 3 •Cases
  24. 24. Interesting cases: Endomondo provides an online service for tracking, monitoring and coaching your physical activities such as running, biking, walking, skiing etc. Trustpilot is a web portal where consumers rank companies based on their customer service. As a common (2D) printer prints on paper a Blueprinter prints 3-dimensional objects based on 3D CAD computer models. Libratone designs and develops wireless loudspeakers that stream music and audio wirelessly in excellent quality from which ever unit contains the users music library Firmafon provides a telephony solution for small end medium sized enterprises...
  25. 25. Questions?