Presentation by John Hartnett, Irish Technology Capital, about the new venture Fund that he is raising in Ireland and Silicon Valley, aimed at the Irish and European hitech startups marketplace. Stanford Engineering, January 4 2010. Program Director and Course Instructor Dr. Burton Lee. Homepage: http://me421.stanford.edu

1. Irish Technology Capital
European Technology Venture Fund
January 4, 2010
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2. Supporting the entrepreneur
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3. Management Team Backgrounds
John Hartnett Rich Moran Brendan Richardson
• 20 year veteran of Silicon Valley • 25 year veteran of Silicon Valley • 18 year veteran of Silicon Valley
• CEO, G24i • Partner, Venrock • Partner, Vision Capital
• Former EVP Worldwide Markets • Renowned business consultant, • 12 year venture career including 8
Palm, Inc social scientist, best-selling author, investing in Ireland and Europe.
organizational effectiveness • Former Director, Private Equity at
• 20+ years with Handspring, evangelist.
Metacreations, Claris, AT&T and Investure, $7B consortium of
DEC. • Former Senior Partner, Accenture – Endowments and Foundations
Technology, Media, Entertainment • Extensive network of US and
• Founder – Irish Technology Practice
Leadership Group European venture investors.
• 5 highly successful ICT exits as an
• Member – American-Ireland Fund Angel Investor – GluMobile, Portal
and US-Ireland Alliance Software, etc
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4. Advisory Group
The ITLG is supported by an Advisory Group of executives and
professional advisors from both the public and private sector
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5. Irish Technology Capital
• $100M venture fund investing in early
and growth stage European technology
companies with global potential
• Key sectors: Clean Energy, IT and
Wireless.
• Dual HQ in Silicon Valley and Europe
• Experienced: 20 year track record of
successful operational, entrepreneurial Ireland
and venture capital
Silicon
• Connected : Irish Technology Leadership Valley
Group ‘Ecosystem’
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6. Why Ireland?
• World-class Universities
• 20+ years of direct foreign
investment from multi-national
technology leaders ($13B in 2008)
• Established and seasoned “local”
venture capital eco-system: VCs,
Legal, HR, etc.
• Strong entrepreneurial drive and
cultural alignment with US
• Relatively un-touched by US VCs
• Start-ups have great promise but
require direct access to Silicon
Valley
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7. Investment Thesis – Invest Local, Build Global
• European /Silicon valley, connected fund.
– Access and Co-Investment with US VCs
• World class network and advisory board
– Networks into key customers
– Mentoring of Management
• Irish Innovation Centre
– European launch pad in Silicon valley
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8. What Do We Do?
ITC invests and then delivers the keys to US success:
• Market Knowledge - Understanding the real dynamics in the US market
- Competitive Analysis: (Known and under-the-radar)
- Market sizing and discovery: How big is the TAM? Where are the real opportunities?
- Understanding the VC landscape: Who are the best VCs to partner with?
• Positioning - Setting the ground conditions for maximum potential
- Enhancing Profile and rising above the Noise
- Public Relations and Marketing
- Guerrilla Marketing
• Execution - Getting it right the first time
- Hiring
- Product and Channel Management
- Strategic Partnering
- Lead Development
- Sales & Marketing
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9. Challenges for 2010
• Micro – Investing in Europe
– Raising a venture fund is challenging
– Everyone is cautious
– Deal environment is improving but still difficult
• Macro – US and Globally
• European/US economy is still fragile
• Exits. Exits. Exits.
Total # of venture backed IPOs?
• 2007: 117 Total value: $10.3B
• 2008: 6 Total value: $470M
• 2009:* 8 Total value: $1.2B *thru Q3
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10. Thank You
Contact:
John Hartnett
Irish Technology Capital
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