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From Due Diligence to
Fund Raising and Exit Strategies
            And…
  What ever is between them!



                 B...
Due Diligence (DD)?
Due Diligence (DD)?
Be ready for the thrall “strip off” of your
company by a potential investor or business
partner

    C...
Prepare Yourself




           Be Ready
Corporate (DD)
Organization chart
Articles of Incorporation
Bylaws and operating agreements
Shareholder agreements
Minutes...
Corporate (DD) Cont.
 CAP Table info
   Cap evolution
   Outstanding shares (date issuance, % ownership etc.)
   Outstandi...
Legal (DD)
Pending lawsuits against the Company
Pending lawsuits initiated by Company
Description of environmental and emp...
Financial (DD)
 Annual and quarterly financials for the past
 years
 Financial Projections
 Tax reports
 Expenses and Sala...
Technology (DD)
Department chart
Product description documents
Product roadmap
Product performance indicators
Critical Tec...
Sales & Marketing (DD)
Department chart
Major customers and applications
Historical and projected growth rates
Market shar...
Personal (DD)
Full management Bio’s
Compensation agreements
Incentive benefits and stock plans
Past and future headcount
P...
Now I Know Everything




       About You!
Fund Raising Strategy
Fund Raising Strategy
 Bootstrap
 Incubate yourself
 Grants
 Private / Angle
 VC
 Convertible
 Mezzanine
Exit Strategy or Here to Stay
Exit Strategy or Here to Stay
You must have a realistic strategy and not
something you just “Wannabe”
Exit Strategy or Here to Stay
Profitable company – No Exit
You can go for the low $10M’s
        M&A
You can try to shoot ...
My Story




 Established 1999    Established 2004
 Private Rounds      Acquired Dec. 2006
 Convertible loan    Bootstrap ...
Now it is Your Turn




      To Make IT!
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Elan Oren - From Due Diligence to Fund Raising and Exit Strategies

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Elan Oren - From Due Diligence to Fund Raising and Exit Strategies

  1. 1. From Due Diligence to Fund Raising and Exit Strategies And… What ever is between them! By Elan Oren Former CEO of and
  2. 2. Due Diligence (DD)?
  3. 3. Due Diligence (DD)? Be ready for the thrall “strip off” of your company by a potential investor or business partner Corporate Legal Financial Technology Market Personal
  4. 4. Prepare Yourself Be Ready
  5. 5. Corporate (DD) Organization chart Articles of Incorporation Bylaws and operating agreements Shareholder agreements Minutes of BoD, Shareholder meetings Documents to shareholders and directors Stock certificates, warrants and options Complete Stockholder contact information
  6. 6. Corporate (DD) Cont. CAP Table info Cap evolution Outstanding shares (date issuance, % ownership etc.) Outstanding preferred stock (same as above) Outstanding options, warrants, convertibles (same as above) Employee stock benefit programs; stock options, stock purchases
  7. 7. Legal (DD) Pending lawsuits against the Company Pending lawsuits initiated by Company Description of environmental and employee safety issues and liabilities List of material patents, copyrights, licenses, and trademarks Summary of insurance coverage/any material exposures
  8. 8. Financial (DD) Annual and quarterly financials for the past years Financial Projections Tax reports Expenses and Salaries Budget
  9. 9. Technology (DD) Department chart Product description documents Product roadmap Product performance indicators Critical Technology Necessary for Implementation Risks 3rd party components + license Budget
  10. 10. Sales & Marketing (DD) Department chart Major customers and applications Historical and projected growth rates Market share Competition landscape Business model, strategy and revenue stats Risks and Challenges Budget
  11. 11. Personal (DD) Full management Bio’s Compensation agreements Incentive benefits and stock plans Past and future headcount Past and present employee problems
  12. 12. Now I Know Everything About You!
  13. 13. Fund Raising Strategy
  14. 14. Fund Raising Strategy Bootstrap Incubate yourself Grants Private / Angle VC Convertible Mezzanine
  15. 15. Exit Strategy or Here to Stay
  16. 16. Exit Strategy or Here to Stay You must have a realistic strategy and not something you just “Wannabe”
  17. 17. Exit Strategy or Here to Stay Profitable company – No Exit You can go for the low $10M’s M&A You can try to shoot for more then that M&A IPO Or, you can aim to become the Israeli Nokia (Nokia is not so hot any more) IPO
  18. 18. My Story Established 1999 Established 2004 Private Rounds Acquired Dec. 2006 Convertible loan Bootstrap start Made it ourselves Rejected VC Money Private Convertible Round M&A
  19. 19. Now it is Your Turn To Make IT!

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