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Seed and Early Stage Venture Capital in the Globalised High Technology Market Place. Dimitris Kontarinis Draper Fisher Jurvetson, Investment Consultant. Start up maturity. Venture Capital Stages. It is a tough job ….
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Seed and Early Stage Venture Capital in the Globalised High Technology Market Place Dimitris Kontarinis Draper Fisher Jurvetson, Investment Consultant
Start up maturity Venture Capital Stages Draper Fisher Jurvetson
It is a tough job … • ….It is a job that requires special skills when compared to other types of financial investments • ….It is a job that requires a lot of hands on work • …. It works when fund is effectively managed • …. It works when backed up by strong network Draper Fisher Jurvetson
DFJ Primaxis Toronto, ONT DFJ Portage Chicago, IL DFJ ePlanet London Timberline VenturesSeattle, WA DFJ Nexus Russia DFJ New EnglandCambridge, MA DFJ Gotham New York, NY DFJ Frontier Sacramento & Santa Barbara, CA Draper TrianglePittsburgh, PA Draper Fisher Jurvetson Menlo Park, CA Draper Atlantic Reston, VA DFJ Faros Greece DFJ ePlanet Beijing Zone Ventures Los Angeles, CA DFJ SI Ventures Raleigh, NC & Fort Meyers, FL Wasatch VenturesSalt Lake City, UT, Phoenix, AZ & Albuquerque, NM DFJ ePlanet Singapore DFJ Mercury Houston, TX Access Ventures Westminister, CO & Austin, TX DFJ Australia Existing fund / team International NetworkGlobal Localization Fund / team in formation DFJ India Draper Fisher Jurvetson
Global Network Added Value Early Stage Venture Capital in Globalized Markets • Focus on the Quality of Managers/Entrepreneurs and Back Extraordinary People • Invest in Business Models with Low Capital Requirements & High Gross Margin • Identify World Class Technology • Tolerate Risk • Business Models with Viable, Long-Term Economics • Diversify Portfolio (many deals) to Mitigate Risk • Target Markets with Explosive Growth Potential • Companies serving real needs of business customers • Large global market opportunities Draper Fisher Jurvetson
Internet: Information has migrated globally Greek Diaspora 5.3 39% Draper Fisher Jurvetson
Perception of High Tech Entrepreneur Draper Fisher Jurvetson
eEmployment=unEmployment Draper Fisher Jurvetson
Hard Entrepreneurial High Tech work Draper Fisher Jurvetson
What happened in Estonia ? Draper Fisher Jurvetson
Change Culture Draper Fisher Jurvetson
Corporate Targets for better living • Creativity • Uniqueness • Innovation • Weird Ideas That Work (Robert Sutton) • EBIT driven business Earnings Based on Innovation & Talent Draper Fisher Jurvetson
Corporate VC examples France Telecom- Innovacom VC:HarbourVest and GIC (Singapore), Access Capital Partners, AGF Private Equity, CIC Finance, European Investment Fund, the FPCR (Caisse des Dιpots Group). Sonera-Magnum Deutsche Telekom-T-VenturesVC. Telenor-Telenor Venture Telefonica-Telefonica Ventures Italia Telecom-Saturn Venture Capital : Olivetti; Telecom Italia Lab, Telecom Italia Mobile,VC Ramius Capital Group) Bell Atlantic (Verizon)-Index Ventures (syndication withSkypeandGoogle). ΑΤ&Τ-Kappa IT και AT&T Venture Corporate Venture Intel Capital Microsoft Blue Ventures Nokia Vodafone Ventures Samsung VC Limited Partners Samsung (DFJ) Intel Microsoft Nokia Corporate Venture and Venture Capital Draper Fisher Jurvetson
Fixed Mobile Convergence: The Business Decathlon Money and Credit Card Phone TV & entertainment Draper Fisher Jurvetson
Local Market DynamicsGlobal Potential Draper Fisher Jurvetson