Enterprise Ireland Investment Services Division Overview

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In May 2007 Enterprise Ireland (in conjunction with the Irish Software Association) gave a morning workshop on their investment process with the focus on making it clearer how it works.

This is one of two presentations from the workshop which I have scanned in.

Published in: Business, Economy & Finance
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Enterprise Ireland Investment Services Division Overview

  1. 1. .-1--- >.-. J::;- QillffillJ'" Investment Services Division. An Overview. lrish Transforming Industry 2008-2010
  2. 2. eill[IiTff'" Structure lnvestment of Services (lSD) Division Transforming Industry lrish 2008-2010 )
  3. 3. Focus of Work dll["ilis'" - Commercial Evaluation. - Investment - advisers undertake and commercial diligence due negotiate equityterms a parallel in process Investment for Committee, andGroMhFund R&D Committees. - Equity. - Investment advisers manage Equity the Portfolio all Equity and maintenance issues. - Divestment - Policy Long termaimto exitwhencompaniescan standalone. Transforminq Industrv lrish 2008-2010
  4. 4. dllffillJ'" - Growth Capital. - Manage Seedand Venture programmes. Capital - Business Angelsinitiative Tax-based & developments BES. e.g. . Sourcing domestic lnternational & investors. SustainingJobs Unit. - Recently to jobsand provide established sustain funding fromthe Stabilisation Funo. - EnterpriselrelandMission. To accelerate development world-class companies the of lrish to achievestrongpositions globalmarkets, in resulting in increasednational regional and prosperity. Transforming Industry lrish 2008-2010
  5. 5. :t--= ENTERPRISE Q/ IRELAND Process Equitylnvestments. El Due Diligence for Transforming Industry trish 2008-201 0
  6. 6. 4_ '---a ei ll["lTlJ'" ' Thereare two stagesin the El EquityInvestment Process. " StageOne: Pre-lnvestment Commercial Evaluation. - StageTwo: Post-lnvestment EquityMaintenance. Transforming Industry lrish 2008-2010
  7. 7. VrZ dilfiillJ'" " StageOne: Pre-lnvestment Commercial Evaluation. - Two steps in the Commercial Evaluationprocess. - One:Review all Financial of Information submitted. - Two:Review theCompany, of Business Model, Management StructureFunding, , Industry. Transforming Industry lrish 2008-2010
  8. 8. ei Fl[iT[J'" Step One: FinancialDue Diliqence. - Request relevant all financial - to information include Management & Audited Accounts. Review theAccounts allother of and relevant financial information submitted. 12 MonthProjected Cash-flow analysis. - SalesPipeline Current projected. and Fullreview the FDS(Financial Sheet). of Data Trans{orming Industry lrish 2008-2010
  9. 9. eill[nT[J'" list of additional information needed assessinvestment. to Cap TableFullydiluted and % shareholding class,shareholder, (# , by valuation basis). and - Options ESOPdetails. Funding (if History therehavebeenother rounds). Detailedbreakdownof fundinq fromPromoters. PrivateInvestors and fundingtype proposed. Directors Loans andSalarv Breakdowns. lrish Transforming Industry 2008-2010
  10. 10. dtl[IillJ'" StepTwo: Non Financial DueDiliqence. Examination the Business of StrategyBusiness / Model. Analysis Business andthemain the plan drivers the business of plan. ldentify whatarethe keyissues mayprevent Company that the from succeeding. Review the Management promoters of and expenence. Review the Management of structure Group and structure. Review the Technical of Assessors report. Transforming Industry lrish 2008-2010
  11. 11. -.-,.. t -_.-- - -:":1'==- dli[IlT[J'" Additional lnformation. Details any lP licensing of arrangements. Review competition business of and environment. Following review requested full of informationCommercial a Evaluation Meeting organised thecompany. is with Undertake review theinformation thecompany, ascertain a of with to andrationalise assumptions sales, all on projections costs, and finances. Submission theCommercial of Evaluation report the Investment to Committee. Transform;ng lndustry lrish 2008-2010
  12. 12. 'V:4='--:---- ei ll[..illJ'" StaqeTwo: Post-lnvestment EquitvMaintenance. FollowingInvestment CommitteeApproval, lnvestment be the will assigned the El Equity into Portfolio. An Equity Advisor the Equity in Department be assigned will to manage investment. the The EquityDepartment issues dealswithall equitymaintenance and manages Equity the Portfolio. Transforminq Industrv lrish 2008-2010
  13. 13. --'-'--.---r' eill[..ilrJ'" Typesof EquityMaintenance events. Newinvestments further and funding rounds. Redemption Conversion El'sshares. & of TradeSales Joint & Ventures. Consent Share to options ESOP & plan's. lssue's convertible notes. of loan Transforming Industry lrish 2008-2010

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