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OECD ROUNDTABLE CONFERENCE: SME COMPETITIVENESS Cesme, Turkey 10-11 May 2001

OECD ROUNDTABLE CONFERENCE: SME COMPETITIVENESS Cesme, Turkey 10-11 May 2001. CURRENT STATE OF THE VENTURE CAPITAL SECTOR IN FINLAND Olavi ÄNKÖ Ministry of Trade and Industry (olavi.anko@ktm.vn.fi). Advantages of venture capital.

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OECD ROUNDTABLE CONFERENCE: SME COMPETITIVENESS Cesme, Turkey 10-11 May 2001

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  1. OECDROUNDTABLE CONFERENCE: SME COMPETITIVENESS Cesme, Turkey 10-11 May 2001 CURRENT STATE OF THE VENTURE CAPITAL SECTOR IN FINLAND Olavi ÄNKÖ Ministry of Trade and Industry (olavi.anko@ktm.vn.fi)

  2. Advantages of venture capital • Provides a solid capital base for the future - to meet company´s growth and development plans • Venture capitalist is a true business partner, sharing in your risks and rewards, with practical advice and expertise (as required) to assist your business success • There is usually no repayment during the term of investment and usually no interest costs - therefore no detrimental impact on cash flow • There will usually be no charges on your business assets and no personal quarantees • Increases the credibility of the business

  3. Finland: Funds Managed 1991 – 2000 (FVCA) 13776 598 723 960 1184 1932 3203 5849 7965 11910 FIM Million

  4. Fund Investments 1991 – 2000(FVCA) FIM Million

  5. Stage Distribution of Fund Investments in Finland 2000 (FIM) (FVCA)

  6. Stage Distribution of Fund Investments in Finland 2000 (number) (FVCA)

  7. Exits 1994 – 2000 (FVCA) Million invested

  8. Finland: Stage distribution of vc-portfolio by type of venture capitalists 1997 (FIM) (FVCA)

  9. Finland: Stage distribution of vc-portfolio by type of venture capitalists 2000 (FIM)(FVCA)

  10. FINLAND: MAIN ENTERPRISE POLICY MEASURES TEKES (technology) REGIONAL T&E CENTRES (smes) FINNVERA Plc (smes) (export) GRANT PROGRAMS SERVICES RISK LOANS FINPRO (international markets) GUARANTEES SITRA (new tech, innovation) ENTER- PRISES VENTURE CAPITAL FIN. INDUSTRY INVESTMENT Ltd (vc-finance) MTI/Olavi ÄNKÖ 15.2.01

  11. O. Änkö 16.2.01 VC-INSTITUTIONS’ INVESTMENT POLICIES(MTI 21/2000)

  12. Financial instruments and risk (FVCA) FORMOF CAPITAL ORDEROF PREFERENCY IN BANKRUPTCY INSTRUMENTS Interestfreedebt I Riskandreturn low Short-termdebt I DEBT Long-termdebt I Debentures I Debentures II Debentures (convertib- MEZZANINE les and options) II Subordinatedloan III MEZZANINE Subordinated loan (con- vertibles and options) III Preferred shares (no parting right) IV Equity V Preferred shares EQUITY V (parting right) Other restricted equity V Riskandreturn high Unrestricted equity (Incl. reserves etc.) V

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