Minuteman Advisory Partners, led by Brad Hafer, specializes in outsourced corporate development for technology companies, focusing on VC-backed portfolios in high-tech and cleantech sectors. They offer consulting services that include strategy development, operational improvement, and partnership execution to enhance company value and prepare for exits. Their engagement model involves internal assessments, strategy development, and ongoing business development support to align companies with potential acquirers.

1. Outsourced Corporate Development
Value acceleration for technology companies
and their investors
Minuteman Advisory Partners, LLC

2. Brad Hafer/Minuteman Advisory Partners introduction
More than 20 years of technology, business and consulting experience. He
has held executive operating roles with three tech companies leading to
successful exits, including
• VP, Corporate Development at MatrixOne, sold to Dassault Systemes
(~$400 million)
• VP, Marketing & Business Development at Synchronicity Software, sold
to MatrixOne (~$18 million)
• VP, Corporate Development at SupplierMarket.com, sold to Ariba (~$1
billion)
Bradford G. Hafer
Managing Director, Functional responsibilities spanning strategy development, marketing,
Minuteman Advisory Partners, LLC product management, business development, M&A and post-merger
integration.
(781) 856-7978 Previously, seven years with global consultancy A.T. Kearney and started
(781) 275-5104 (fax) his career with IBM.
brad@minuteman-advisory.com MBA from the Kellogg School of Management (Northwestern University)
www.minuteman-advisory.com
and a B.A. in Engineering from Lafayette College
Serves on the advisory boards of several technology start-ups
Representative Minuteman Advisory Partners Clients Previous Experience
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3. Minuteman Advisory Partners - Overview
“Outsourced Corporate Development”
• Market Focus
− VC-backed portfolio companies
− Domain experience in High-tech, Internet and Digital Media
− Emerging coverage in renewable energy/cleantech
• Core Capabilities
− Strategy development
− Aligning company assets with potential acquirers’ needs
− Operational assessment and improvement
− Partnership development and deal execution
− Corporate Development/M&A
− Post-merger integration
− Business plan development and venture capital raise outreach
• Strong relationships
− Investors - Venture Capital and Growth Equity. Several repeat client engagements with blue
chip firms
− Strategic Buyers - Major technology and media companies
− Intermediaries – Investment Banks, Law Firms, Accounting Firms
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4. Targeting emerging VC-backed portfolio companies
Portfolio company performance distribution
% of
Companies Emerging/
in portfolio
Mid-Performing
Dogs Stars
0-1x 2-3x 5-10x+
Current Expected Return
• Stars capture the bulk of VC’s attention while Dogs tend to be written off early
• Emerging/Mid-performers, representing the bulk of a portfolio, have unclear future
exit values. They can have substantial impact on fund IRR if even modest
improvements are gained or reasonable exits occur sooner
• A focus on the large number of mid-performers to drive turnaround, growth and
attractive, near-to-mid term exits
• Additionally, strengthen the value of Stars by improving the alignment of product, go-
to-market, partnership and exit strategies
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5. Mid-performing companies face common challenges
Portfolio company symptoms…. … and resulting investor thinking
 Slow growth, or even flat, via organic  “Why do we continue to miss each
means quarter?”
 Consistently missing revenue targets with  “I’m not sure we have a clear idea of the
lengthening sales cycles end-game here.”
 Inability to increase margins with scale  “The 90 day plan I requested is not
 Technology-focused, rather than market- materializing.”
focused team  “Why are our competitors being acquired
 Misaligned product and go-to-market and we haven’t gotten a call?”
strategies; not linked to an exit plan  “I don’t have enough visibility into
 Lack skills at building strategic management thinking between board
relationships or driving exits meetings.”
 Realizing that there is a smaller TAM than  “We’re going to have to make a leadership
originally expected change.”
 Lack of clear leadership and/or  “I don’t have enough time to get
disagreement among management team operational on this one.”
 Competition from new entrants and  “I think I’d rather spend time on my clear
platform players winners”
 “What might this company sell for today?”
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6. Potential value levers may differ for each situation
• Value extracted via combining levers for each portfolio situation
− Sales channel critical mass and effectiveness
− Partnership leverage
− Tuck-in acquisitions
− Re-tooled product portfolio
− Leverage offshore R&D
− G & A, Marketing cost reduction
− Operational improvement
− Critical mass and profitability
− Appropriate capitalization
• Position for exit at appropriate time to maximize value
− Drive immediate sale if potential returns do not warrant continued investment
− Strategically align with one or more targeted would-be acquirers.
− Continue to drive internal value while market matures and until consolidation
begins
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7. Relationships and contacts with key partners, strategic
investors and/or buyers across high tech and media
Marketing, Media & Advertising Enterprise Software/IT Infrastructure Technical Software/PLM
Communications/Networking Identity & Security Energy/Cleantech
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8. Engagement model for portfolio companies and investors
1. Internal Company Assessment (consulting fee)
 Internal review of management, product, assets, operations
 External market and competitive overview
 Business model and financial review
 Identify gaps and areas to drive operational improvement
2. Strategy Development (consulting fee)
 Identification of the optimal target market
 Development of growth strategy via new market entry, improved positioning, partnerships or acquisitions
 Build vs. partner vs. buy analysis
 Determination of ideal channel or solution partners to drive revenue and who may be likely acquirers
 Re-tool product portfolio to better meet acquirers needs
 Development of strategic alternatives and optimal time for exit
3. Outsourced Business Development (monthly retainer + success fee/equity)
 Identification and prioritization of business development targets for product, channel or strategic
partnerships
 Complete pursuit-to-close execution
 Leverage executive relationships across high-tech and media strategic partners/investors/acquirers
 Alignment of partnership development with eventual exit strategy
4. Outsourced Corporate Development (monthly retainer + success fee/equity)
 Strategy development, pitch deck refinement and process coordination
 Capital raise
 Buy and Sell-side M&A
 Coordination of investment banker selection and process management
 Post merger integration
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