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Intro To Vc Ch Low

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Intro To Vc Ch Low

  1. 1. Chin-Hin Low phiLabs Inc./SR Capital Holdings Inc. Jan 30, 2010
  2. 2. Funding Cycle <ul><li>Friends & Family/Seed Funding </li></ul><ul><li>Angel Funding </li></ul><ul><ul><li>Required Returns 20X </li></ul></ul><ul><li>Series A, B, C... (traditional VC) </li></ul><ul><ul><li>Required Returns - At least 25% IRR </li></ul></ul><ul><li>IPO/Sellout </li></ul>
  3. 3. What VC look for (the elevator speech) <ul><li>Strategic </li></ul><ul><ul><li>Large Market </li></ul></ul><ul><ul><li>Customer NEED it not Customer Want it. </li></ul></ul><ul><ul><li>Competition </li></ul></ul><ul><ul><li>Technology </li></ul></ul><ul><li>Business Drivers/Metrics </li></ul><ul><ul><li>Operational and Financial Numbers e.g. Subscribers, ARPU, unique visitors, CPM, conversion rates </li></ul></ul><ul><ul><li>What are the things that will drive the Metrics? </li></ul></ul>
  4. 4. Case Study – Dating Site <ul><li>Strategic Analysis </li></ul><ul><ul><li>Large market, lots of lonely single people </li></ul></ul><ul><ul><li>Love/sex/dating is a human necessity but online dating has plus and minuses </li></ul></ul><ul><ul><li>Many competitors </li></ul></ul><ul><ul><li>Technology - Is the algorithm a good matchmaker? </li></ul></ul><ul><li>Metrics </li></ul><ul><ul><li>Unique visitors, visitors-to-member conversion, member-to-subscriber conversion, Annual ARPU, churn rate </li></ul></ul><ul><li>Business Drivers </li></ul><ul><ul><li># of matches, # of marriages, photos, attractive people, % of paid female customers, % of active female members </li></ul></ul><ul><ul><li>Customer acquisition cost. </li></ul></ul>
  5. 5. Other Details <ul><li>Valuation – IRR, Price/Sales, Price/Subscriber, Price/Ebitda (Cashflow) </li></ul><ul><li>Management </li></ul>
  6. 6. phiLabs Inc. <ul><li>We are NOT a venture capital but we also behave like one </li></ul><ul><li>We are an incubator </li></ul><ul><li>We are experienced entreprenuers and investors. </li></ul><ul><li>We have technology background </li></ul>
  7. 7. Who <ul><li>Jay Singson </li></ul><ul><ul><li>Wharton, Lehman NY, COO Del Monte, startup/ownership in media, finance, services, internet, real estate </li></ul></ul><ul><li>Eric Ramirez </li></ul><ul><ul><li>Stanford Uni. Indus Eng, Lippo Group Indonesia, Walden Ayala, start-up/ownership companies in media, finance, services, internet </li></ul></ul><ul><li>Terence Pua </li></ul><ul><ul><li>U of Penn Elec Eng, justqoutes.com, pusit.com, eskwella.com. Xackup.com,. Insynchq,com, Friendster country manager </li></ul></ul><ul><li>Chin Hin Low </li></ul><ul><ul><li>U Penn Elec Eng, Msc Finance MIT, 16 years global investing, GIC Singapore, Nuffnang Philippines </li></ul></ul><ul><li>Jerome Uy </li></ul><ul><ul><li>Ateneo, Harvard, Bain & Co, Xurpass. </li></ul></ul>
  8. 8. φ Labs Incubator Program <ul><li>End Feb – Launch </li></ul><ul><ul><li>application must be submitted a week before Cook-off </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul><ul><li>1 st Week April – Cook Off </li></ul><ul><ul><li>P200K seed funding, 20sqm office at DOST-PEZA </li></ul></ul><ul><ul><li>3-4 months to make a product </li></ul></ul><ul><ul><li>Weekly consult with Panel of Advisors </li></ul></ul><ul><ul><li>Biweekly discussions with successful technoprenuers </li></ul></ul><ul><li>August 2010 – Product Demo </li></ul><ul><ul><li>Additional P1.5 million funding </li></ul></ul><ul><ul><li>Introduce customers, organise company </li></ul></ul>

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