David Kirkpatrick


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TBLI CONFERENCE™ EUROPE 2012 - Zurich - Switzerland

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David Kirkpatrick

  1. 1. SJF Ventures III, LP, is a $75MM growth equity fund that seeks superior investment returns by investing in high-growth, positive-impact companies. The third fund launched in 2012 and has received capital commitments for a majority of the fund. The second fund, SJF Ventures II, LP, is generating returns in the top 15% of it Cambridge peer group, and is projected to return 20% net IRR to its investors.SJF VENTURES III ATTRIBUTES Objective: Generate superior returns by investing in high-growth, positive-impact companies. Sectors: Asset recovery & recycling, efficiency & infrastructure, food safety & agriculture, and technology-enhanced services. Region: U.S. with emphasis on regions underserved by other venture capital funds. Stage: Growth equity for companies producing $2MM to $20MM in annual revenue and scaling rapidly. Investment Amount: Average $5MM of equity in capital-efficient businesses that require less than $10MM to profitably scale. Financial Returns: Targeting >20% net IRR to LPs. SJF Ventures II performing in the top 15% of all venture funds. th Positive Impacts: Scalable environmental and social benefits (see 11 annual Positive Impacts Report released in 2012).STRONG POSITIONING FOR CURRENT INVESTMENT LANDSCAPE Right Model for Current Exit Environment: Honed, capital-efficient strategy creating strong investment returns at modest exit valuations, while maintaining “home run” potential. Expertise in Attractive Markets: Longstanding expertise in resource efficiency/sustainability and technology-enhanced services, two themes with robust market demand.EXTENSIVE INVESTMENT CAPABILITIES Experience: Thirteen-year organization, third fund, 35 portfolio companies, six investment professionals. Domain Expertise: Over 100 years of investing and operating experience in target sectors. Broad and Unique Deal Flow: Strong platform for reviewing over 3,000 companies per year. Access: Unparalleled record of winning highly competitive financings via alignment advantage with entrepreneurs. Evolved Internal Systems: Cohesive investment team employing rigorous decision-making processes.FUND TERMS Structure: Ten year venture capital partnership.  Minimum: $2MM institutions; $250k individuals. GP Investment: At least 1%.  Fees: 2.0% Mgmt fee; 20% carry. Preferred Returns: 1.15x preferred return to LPs.  Distributions: ~Years 5 to 10. Capital Calls: ~20% per year for years 1-5. Durham, NC • New York, NY • San Francisco, CA Confidential – SJF Ventures III, LP, is available only to accredited and qualified investors.
  2. 2. SJF VENTURES III INDICATIONS OF SUCCESS Industry-leading platform for growth equity investing, evolved and tested over thirteen years. Licensed as the first national fund in the SBA’s New Impact Investing Program in February 2012. Initial closing of SJF Ventures III, LP, led by Citi in February 2012. Other SJF III investors include Deutsche Bank, the F.B. Heron Foundation, State Street Bank, Trillium, Veris Wealth, Abacus, ImpactAssets, the CAPROCK Group, Armonia, OpenBox, and multiple additional investors. First fund investment made in July 2012 in Series A Round for BioSurplus, an asset recovery company based in San Diego. Strong positive impacts reflected by our selection as the Global Impact Investing Rating System (GIIRS) Pioneer Fund, and selection to ImpactAssets 50. 2011 impacts include: SJF Institute, the funds’ allied nonprofit, has assisted 1,800 positive impact entrepreneurs through a variety of events and programs. The Institute is separately funded by foundations and sponsors and has produced annual SJF Positive Impacts Reports on SJF Ventures’ funds since inception. The Institute merged in July 2011 with Investors’ Circle, a 19 year old impact investor network that has catalyzed financing of 234 companies to date.SJF VENTURES III TEAM www.sjfventures.com Confidential – SJF Ventures III, LP, is available only to accredited and qualified investors.