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TRSL Presentation

TRSL Presentation. December 5, 2005 Joseph F. Lovett Louisiana Fund I Managing Director. I. US Venture Capital II. Health Care Venture Capital III. Venture Capital Performance US Cal PERS PRIM – Massachusetts IV. Louisiana Fund I Venture Capital in Louisiana Team Limited Partners

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TRSL Presentation

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  1. TRSL Presentation December 5, 2005 Joseph F. Lovett Louisiana Fund I Managing Director

  2. I. US Venture Capital • II. Health Care Venture Capital • III. Venture Capital Performance • US • Cal PERS • PRIM – Massachusetts • IV. Louisiana Fund I • Venture Capital in Louisiana • Team • Limited Partners • Portfolio Companies • Summary

  3. I. US Venture Capital 1,750 Venture Capital & Private Equity Partnerships Capitalization: $585 Billion Average Total Investment 1 year: $20 billion

  4. $ in millions

  5. Hot areas of Investment in Health Care(10 year PWC Money Tree Survey) • Individual disease management • Cancer drug development • Genomics • Molecular Biology • Innovative drug delivery methods • Management of hospitals / clinics • Obesity / weight loss treatments

  6. III. Venture Capital Performance

  7. Calpers: AIM Program • 1990- 2005 • 250 VC Funds • $7.2 Billion in Generated Profits

  8. State of Massachusetts PRIM $32.5 Billion 103 Venture Capital Funds 1986 – 1998 Returns: Majority between 10-30% Five Funds exceeded 50% Biggest Winner: Menlo Ventures IV : 127% Biggest Loser: Invexco ( a Houston oil & gas fund) (46%) Average annual Return: 12.7% US Thompson Venture Economics: 13.6% average

  9. PRIM

  10. VENTURE CAPITAL INVESTMENTS: 1995-2004 U.S. LOUISIANA No. CompaniesInvestment $No. CompaniesInvestment $ 1995-2004 37,320 $315,410,000,000 70 $616,000,000* Source: Price Waterhouse Coopers Data *One-half invested in one oil-related company, no companies in pharmaceuticals or biotechnology

  11. US: Venture Capital Backed Companies Tandem Compaq Intel Genentech Amazon. COM Google Netscape Federal Express Oracle Sun Microsystems

  12. Why is there a lack of venture capital in Louisiana? • Tradition • Venture Capital in Louisiana historically focused on late-stage investments • Similar to Boston in the 1980’s • Leadership Needed: - Harvard in Boston in 1988 with Medical Science Partners - LSU/LED/TRSL in Louisiana in 2004 with Louisiana Fund I

  13. Sources in Louisiana for Early Stage Companies - Entrepreneurs - Universities, Academic Medical Centers, Research Centers and Companies - $500-600M per year in Research & Development Spending—50-60% in Life Sciences

  14. Louisiana Fund I: Overview • Louisiana needs a local early stage investment fund • Create home-grown companies located in Louisiana • Attract out-of-state companies to Louisiana • Investment in existing companies • Out-of-state investment funds will invest in Louisiana companies • LFI team experienced in working with early stage technologies and early stage companies

  15. Benefits to Investors and Louisiana • Attractive financial return on investment for investors • Louisiana Fund I catalyst for creating new industries, companies and jobs across Louisiana • Assist local economic development efforts • Local companies based on locally developed technology will remain in Louisiana • Attract Louisiana natives back home • Out-of-state investors will invest in Louisiana companies • Favorable publicity for investors

  16. Louisiana Fund I: Scientific & Business Advisory Board • 12-15 Members • Assist the Fund with due diligence • Advice of key investment areas • Serve on Boards of Companies • Currently twelve members • MBAs -Board Members of Public Companies • PhDs -DMVs • CEOs -DDSs

  17. Scientific and Business Advisory Board Current Members from Eli Lilly University of Pennsylvania GlaxoSmithKline Louisiana Tech University Model Software LSU Health Science Center, Shreveport Spirit-it Inc. Tulane University Aperion, LLC Anthem Capital

  18. Portfolio Companies • International Mezzo Systems—Nanotechnology & Micromachining Technology, LSU Incubator Company, LSU licensed technology • Patient Care Inc. – Health Insurance advocacy services, New Orleans • Esperance Biomedical, Pennington, LSU CAMD and LSU AG Center, Oncology Technology—lytic peptides for imaging and therapy for breast cancer metastases

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