1. Odyssey Venture Partners
Transforming Hellenic Technology Innovation into Business Opportunity
Open Coffee Presentation, November 30, 2012
Thanasis “A.K.” Kalekos & Spyros Trachanis
Managing Partners
www.odysseyvp.com
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2. Odyssey Fund I
An 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”
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3. Odyssey Management Team
 Two investing partners
 Operating in Greece & Silicon Valley
Thanasis Kalekos Spyros Trachanis
Bridge Silicon Valley & Greece
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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 cases
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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
investors
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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. Enabling a “Virtuous Cycle”
Innovation
(Καινοτομία)
Business
Business Success Access to Capital
Know-how
(Χρηματοδότηςη)
(Επιχειρηματικό
τητα)
Odyssey Value-Added
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