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1
Creathor Venture
SICTICANGEL TRAINING,JUNE 2016
The material set out in this draft document is confidential and may not ...
2June 2016
Private and Confidential
Fund Manager • Creathor Venture Management; €180 million AUM
• Experienced team of 12 ...
3June 2016
Private and Confidential
Operational • Continuous definition and monitoring of financial and non-financial key ...
4June 2016
Private and Confidential
Investment Focus - Sectors II/II
We have a high expertisein the noveltechnologies and ...
5June 2016
Private and Confidential
Investment Focus - STAGE
Taking on lead investor role and Increasing or protecting pos...
6June 2016
Private and Confidential
Deal Flow
High selectivity and thorough due diligence process leads to <1% of opportun...
7June 2016
Private and Confidential
*Selection of companies Creathor management was actively involved in as lead Investors...
8June 2016
Private and Confidential
team
Experienced team of 12 investment professionals with substantial operationalAND I...
9June 2016
Private and Confidential
*Selection of companies Creathor management was actively involved in as lead Investors...
10June 2016
Private and Confidential
Venture CAPITAL AND KITESURFING…
11June 2016
Private and Confidential
OVERCONFIDENCE
ANTICIPATION
DEPENDANCE
CRASHING
CONDITIONS CHANGE
BOARD CONTROL
12June 2016
Private and Confidential
BeyondMoney:WhatStartupsNeedFromInvestors
5 EXAMPLES
June 2016
Private and Confidential
1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE
“93% of drivers rate themselves as bet...
June 2016
Private and Confidential
1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE
June 2016
Private and Confidential
1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE
Please evaluate our product on a schoo...
June 2016
Private and Confidential
2.TALKTOALLEMPLOYEE LEVELS
“I never get to see our CEO”…
June 2016
Private and Confidential
3.RESEARCH MARKET & COMPETITORS
6+ million users
1.2m revenues
2015/2016 app of the yea...
June 2016
Private and Confidential
3.RESEARCH MARKET & COMPETITORSAND REACT
2015 2016
After deep market
analysis memorado ...
June 2016
Private and Confidential
-59%
compared to previous quarter
3.RESEARCH MARKET & COMPETITORSAND REACT
June 2016
Private and Confidential
3.RESEARCH MARKET & COMPETITORSAND REACT
 Valuation inflation is
followed by deflation...
June 2016
Private and Confidential
4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT
June 2016
Private and Confidential
4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT
Knowing employees web-browser could save you ...
June 2016
Private and Confidential
4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT
Non-Internet explorer employees stay 15% long...
June 2016
Private and Confidential
5.TALK TO POTENTIAL BUYERS FROM DAY 1
Know the exit market and approach key players. Al...
25June 2016
Private and Confidential
Contact
KLAUS-CHRISTIAN GLUECKERT
klaus.glueckert@creathor.com
www.creathor.com
26June 2016
Private and Confidential
Disclaimer
This presentation contains statements regarding the future. Forward-lookin...
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Presentation Swiss ICT Investor Club 2016

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Gave workshop on how we work with portfolio companies at Creathor Venture.

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Presentation Swiss ICT Investor Club 2016

  1. 1. 1 Creathor Venture SICTICANGEL TRAINING,JUNE 2016 The material set out in this draft document is confidential and may not be discussed with a third party nor passed to any third party except with the authorisation of Creathor Venture. Each person that receives a copy by acceptance thereof represents and agrees that it will not reproduce, distribute or provide it to any other party. Creathor makes no representations or warranties with regard to the documents’ accuracy, completeness, non-infringement or suitability for a particular purpose.
  2. 2. 2June 2016 Private and Confidential Fund Manager • Creathor Venture Management; €180 million AUM • Experienced team of 12 investment professionals with substantial operational experience • Investment offices in Germany, Switzerland and Sweden • Member of the European, German, Swiss and Swedish Venture Capital Associations (Invest Europe, BVK, SECA & SVCA) Track Record • More than 30 years of successful experience in VC (since 1984) with outstanding results • More than 200 financed high-tech companies and more than 20 IPOs as lead investor • Two funds returned >10x MoIC Stage Focus • First investment at early-stage • Significant investments in follow-on rounds to increase and/or protect ownership percentage • Taking on lead or co-lead investor role and maintaining it up until exit Sector Focus • Technology, Life Sciences and the intersection of the two areas • Targeting companies with outstanding management teams, business concepts and the potential to achieve market leadership, leveraged by increased mobile/ internet usage, shared economy or viral network effects • Targeting promising new or disruptive markets like: - Internet of things/wearables - Fintech, eTravel, digital media - eHealth, medtech and personalized medicine Regional Focus • German-speaking Europe, Nordics and France Investor Base • Exclusive investor base made up of institutional investors and family offices • Significant GP commitment (~30% across prior funds) Creathor Venture profile Leading European venture capital firm with experienced management, Proven Track Record anD entrepreneurial approach
  3. 3. 3June 2016 Private and Confidential Operational • Continuous definition and monitoring of financial and non-financial key performance indicators (KPIs) • Providing expert advice in the fields of marketing, financing, website optimization/SEO/SEM • Building strategic partnerships with industry using personal network • Assisting with HR topics: Expansion and/or change of key management • Facilitating exchange of best business practices between portfolio companies • Organizing strategy workshops • Taking on board seats Financial and Legal • Validating/adjusting financial plans • Profiting from deal structuring experience gained over decades • Helping with IP and patent protection • Providing legal and operational advise for internationalization • Assisting with preparation for further financing rounds Exit Process • Exit & IPO experience and proven success in the VC-world for several decades • Selecting and supporting the appropriate exit-strategy (IPO, trade-sale,…) and driving the correct timing • Using broad network through unmatched presence in German-speaking Europe, the Nordics and France • Link to the capital markets via Creathor Family Office Supporting build-up of market leaders our lead investor position helps us to add value to our portfolio companies
  4. 4. 4June 2016 Private and Confidential Investment Focus - Sectors II/II We have a high expertisein the noveltechnologies and conceptsdisrupting and enablingthose markets Life Sciences Medtech Tools Diagnostics Transportation / Logistics Media / Advertising Finance Travel Education eHealth Wearables Internet of Things Big Data Sharing Economy Autonomous Systems Personalized Medicine Cloud Computing Cloud Computing Technology
  5. 5. 5June 2016 Private and Confidential Investment Focus - STAGE Taking on lead investor role and Increasing or protecting position in later investment rounds (as of 30.06.2015) Company Status at InitIal Investment of Creathor 17% Seed Stage 83% Early Stage 30 Active Portfolio Companies (as of 30.06.2015) Position of creathor 20% Investor 50% Lead 30 Active Portfolio Companies 30% co-lead
  6. 6. 6June 2016 Private and Confidential Deal Flow High selectivity and thorough due diligence process leads to <1% of opportunities receiving an investment Investment Opportunities 2,000 p.a. • Via networking, marketing, initiating projects, active research • We get superior deals / the deals we want Due Diligence 50 -75 • Proven due diligence know how through decades long and successful VC experience • We are able to identify the promising deals Offers Made 10 -15 • Recognized expertise in all relevant aspects for the founder helps win deals • Highly selective strategy Investments 5 -8 • ~80% of investments made come from personal network • Less than 1% of opportunities receive investment from Creathor
  7. 7. 7June 2016 Private and Confidential *Selection of companies Creathor management was actively involved in as lead Investors or board/supervisory board members Realized Portfolio* Seven CompaniesAchieved valuations above $1billion (UNICORNS). Creathor Management Was Lead investorin SiX Colloid >$1 billion Companies LEAD LEAD LEAD LEAD LEAD LEAD 35% 5%23% 31%20% 35% 33%
  8. 8. 8June 2016 Private and Confidential team Experienced team of 12 investment professionals with substantial operationalAND Investment experience Dr. Gert Köhler Founder, CEO & Managing Partner  30+ years VC experience  Technologieholding, McKinsey  PhD, Mathematics Karlheinz Schmelig Managing Partner  15+ years VC experience  Technologieholding, 3i Group, Boehringer, Roche  MBA Kelly School of Business Cédric Köhler Managing Partner  8+ years VC experience  Synpulse, Technologieholding  MSc European Business School, Business Administration and IT Pawel Schapiro Investment Manager  Rocket Internet, Deutsche Telekom, Nokia  MSc University of Mainz, Media Management Alex Stöckl Investment Manager  Pure Foods AG, Roland Berger  MSc Grenoble GSB, International Business Marianne Uddman Investment Manager  Head of Innovation, AB-InBev  MSc EADA, Marketing Dr. Christian Weiss Investment Manager  McKinsey, Entrepreneur  PhD European Business School; Yale University Atanas Mukov Analyst  SHS Venture Capital, Merz, Unicredit  MSc WHU, Business Administration Jens Schott Equity Analyst  BHF-Bank, Hauck & Aufhäuser  MSc University Duisburg-Essen, Business Administration Frank Pleyer Financial Planner/Controller  Commerzbank  MSc Frankfurt School of Finance and Management Ute Molders Office Manager  Lincoln International, UBS, Morgan Stanley  Coursework in Psychology and Business Administration Andrea Courté Marketing/PR  BCG, Mercedes Benz  Industrial business management assistant Christian Weniger Investment Manager  Abu Dhabi Investment Authority (ADIA)  MBA INSEAD Anke Hecht CFO  Deutsche Bank, PwC  MSc University of Frankfurt, Business Administration  CFA Level II Klaus-Christian Glückert Investment Manager  Rocket Internet, Paymill  MSc University of Constance, Experimental Psychology and HCI; Researcher at Stanford and Yale University Christian Leikert Investment Manager  CEO, Future Capital AG  MSc University of Munich, Business Administration Dr. Aristotelis Nastos Partner  12+ years investment experience  NRW Bank, Peppermint  PhD, Cell and Developmental Biology InvestmentTeamBackoffice
  9. 9. 9June 2016 Private and Confidential *Selection of companies Creathor management was actively involved in as lead Investors or board/supervisory board members ACTIVITYINSWITZERLAND CREATHOR INVESTS FROM ZURICH OFFICESINCE 2006 ACQUIRED/IPO PORTFOLIO
  10. 10. 10June 2016 Private and Confidential Venture CAPITAL AND KITESURFING…
  11. 11. 11June 2016 Private and Confidential OVERCONFIDENCE ANTICIPATION DEPENDANCE CRASHING CONDITIONS CHANGE BOARD CONTROL
  12. 12. 12June 2016 Private and Confidential BeyondMoney:WhatStartupsNeedFromInvestors 5 EXAMPLES
  13. 13. June 2016 Private and Confidential 1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE “93% of drivers rate themselves as better than the median” Svenson’s (1981) “When CFOs were 80% or higher confident that returns were to be realised, this would only happen 30% of the time.” 7000+ CFOs, 6 years *** *** https://www.linkedin.com/pulse/dont-let-overconfidence-effect-make-fool-you-julie-wacker
  14. 14. June 2016 Private and Confidential 1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE
  15. 15. June 2016 Private and Confidential 1.COUNTERACT ENTREPRENEURIAL BIAS/OVERCONFIDENCE Please evaluate our product on a school grade scale Very good Insufficient
  16. 16. June 2016 Private and Confidential 2.TALKTOALLEMPLOYEE LEVELS “I never get to see our CEO”…
  17. 17. June 2016 Private and Confidential 3.RESEARCH MARKET & COMPETITORS 6+ million users 1.2m revenues 2015/2016 app of the year iTunes / Playstore
  18. 18. June 2016 Private and Confidential 3.RESEARCH MARKET & COMPETITORSAND REACT 2015 2016 After deep market analysis memorado made a pivot early to heyjobs while memorado continues to be profitable
  19. 19. June 2016 Private and Confidential -59% compared to previous quarter 3.RESEARCH MARKET & COMPETITORSAND REACT
  20. 20. June 2016 Private and Confidential 3.RESEARCH MARKET & COMPETITORSAND REACT  Valuation inflation is followed by deflation (market cycles)  Angels can invest at lower valuations  but also expect lower valuations in follow-up rounds  Advice founders when it is a good time to save or raise money
  21. 21. June 2016 Private and Confidential 4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT
  22. 22. June 2016 Private and Confidential 4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT Knowing employees web-browser could save you money
  23. 23. June 2016 Private and Confidential 4.MINIMUM INTERVENTION FOR MAXIMUM IMPACT Non-Internet explorer employees stay 15% longer!
  24. 24. June 2016 Private and Confidential 5.TALK TO POTENTIAL BUYERS FROM DAY 1 Know the exit market and approach key players. Also the hidden ones TCV turned out to be a hidden meta- investor influencing m&a and strategy from the background
  25. 25. 25June 2016 Private and Confidential Contact KLAUS-CHRISTIAN GLUECKERT klaus.glueckert@creathor.com www.creathor.com
  26. 26. 26June 2016 Private and Confidential Disclaimer This presentation contains statements regarding the future. Forward-looking statements are not related to historic facts and contain convictions, expectations and personal assumptions. These assumptions are based on plans, forecasts and projections currently available to the management of Creathor Venture Management Luxemburg and include a certain degree of uncertainty. Forward-looking statements refer only to the day on which they were originally made and there is no obligation to update those statements due to new information or future events. Forward-looking statements imply per se risks and uncertainty. A wide range of factors can lead to circumstances that actual results deviate strongly from statements made in this presentation. Certain economic market information originate from publicly available sources and are composed from third parties. These sources are considered trustworthy and credible. Nonetheless neither the funds or Creathor‘s management or otherwise related companies can guarantee for correctness and completeness of such information. All information in this document is strictly confidential. It is not allowed to discuss the content with third parties or to distribute this presentation without a prior written allowance from Creathor. Each person receiving a copy from this document agrees automatically not to reproduce or distribute this document. For Swiss investors: When reading the following information, please note that the Fund has not yet been established and approved at the time of starting with distribution activities in or from Switzerland. The state of the origin of the Fund will be Luxembourg. This document may only be distributed in or from Switzerland to qualified investors within the meaning of Art. 10 Para. 3, 3bis and 3ter CISA. The Representative in Switzerland is ACOLIN Fund Services AG, Stadelhoferstrasse 18, CH-8001 Zurich, whilst the Paying Agent is Neue Helvetische Bank AG, Seefeldstrasse 215, CH-8008 Zurich. In respect of the units distributed in or from Switzerland, the place of performance and jurisdiction is at the registered office of the Swiss representative. Once available, the basic documents of the Fund as well as the annual and semi-annual report may be obtained free of charge at the registered office of the Swiss Representative.

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