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Odyssey Venture Partners


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The original presentation file, as it was delivered in Open Coffee Athens Friday November 30

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Odyssey Venture Partners

  1. 1. Odyssey Venture PartnersTransforming Hellenic Technology Innovation into Business OpportunityOpen Coffee Presentation, November 30, 2012Thanasis “A.K.” Kalekos & Spyros TrachanisManaging 1
  2. 2. Odyssey Fund IAn EIF JEREMIE-Program Fund  Size: €30M – €40M  Industry Sector: Information and Communication Technology  Geographic Region: Greek startups with global market reach  Investment size: €20,000 to €1.5M per funding round  Investment method: “Silicon Valley Standard”Saturday, December 01, 2012 2
  3. 3. Odyssey Management Team Two investing partners Operating in Greece & Silicon Valley Thanasis Kalekos Spyros Trachanis Bridge Silicon Valley & GreeceSaturday, December 01, 2012 3
  4. 4. Investment Thesis Concept Seed Series A Series B Exit Funding Funding Funding (Acquisition or IPO) Thesis 2: Thesis 1: Seed Funding Series A Funding Thesis 1: Series A funding  At an earlier stage than Silicon Valley VC’s would invest in  Hands-on work with company to “catch up” to Valley standard by Series B Thesis 2: Seed Funding  Stimulate interest in creating startups – academic community, research institutes and industry  Properly prepare for Series A investment – proof of concept, plan, customers, team Maintain equity position in subsequent funding rounds in all casesSaturday, December 01, 2012 4
  5. 5. Investment Thesis 1: Early Stage – Series A Portfolio of 15-20 companies  Initial investment of € 250,000 - 1,500,000 for 20%-35% equity position  Expectation to participate with pro-rata share in subsequent rounds  4-6 companies added to the portfolio each year Prerequisites:  A comprehensive business plan – addressing global markets, reach profitability and grow revenue to over € 100M in 5-7 years  Product prototype or first product release  Proof of concept from initial customer engagements  Completed due diligence and review by Odyssey investment committee Management team deliverables:  Execute to plan  Commitment to operate to “Silicon Valley standard” Odyssey deliverables:  Coaching, “acting” in management positions, recruiting, bridge to global markets and investorsSaturday, December 01, 2012 5
  6. 6. Investment Thesis 2: Seed Stage 5%-7% of Fund dedicated to seed investing  € 20,000 -70,000 investment for 15%-30% equity position  Hosting and coaching the entrepreneur(s)  Assistance in receiving additional EU funding Prerequisites:  An intelligent and highly motivated entrepreneur/team  A “big idea” (an idea that can grow a “big” company) Deliverables:  Prototype proof of concept  Establish relationship with at least one prospective customer  Complete a (fundable) business plan Expect to invest in 20-40 promising ideas in the first 4 years  Expect fundable success ratio of 1 in 5
  7. 7. Enabling a “Virtuous Cycle” Innovation (Καινοτομία) Business Business Success Access to Capital Know-how (Χρηματοδότηςη) (Επιχειρηματικό τητα) Odyssey Value-AddedSaturday, December 01, 2012 7