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Flatiron Partners Presentation to MIT Spring 2001 Bob Greene Managing General Partner Flatiron Partners bob@flatironpartners.com 257 Park Avenue South, 15 th Floor, NYC 10010 212-228-3800. Overview. Who is Flatiron Partners Investment Philosophy Flatiron Portfolio

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Overview

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  1. Flatiron PartnersPresentation to MIT Spring 2001Bob GreeneManaging General PartnerFlatiron Partnersbob@flatironpartners.com257 Park Avenue South, 15th Floor, NYC 10010212-228-3800

  2. Overview • Who is Flatiron Partners • Investment Philosophy • Flatiron Portfolio • How we work with Companies • The Market Today

  3. What Is Flatiron Partners? • One of the leading technology venture capital firms in New York • Founded in August 1996 • Focused on early and mid-stage, information technology companies • Investment range $1 to $50 million

  4. What Is Flatiron Partners? • 1996 fund capitalized at $150 million with two investors: JP Morgan Partners (JPMP) and SOFTBANK Technology Ventures • Current fund capitalized at $500 million with JPMP as sole active LP

  5. Our Partner:JPMP • A global private equity organization with • approximately $24 billion under management whose sole limited partner is The JP Morgan Chase Corporation. • Since 1984, has closed more than 1,500 individual transactions. • One of the largest most active private equity groups in the world.

  6. Flatiron Partners – the People • Ten Investment professionals • Diverse backgrounds • Decades of VC, technology, Internet and media experience

  7. Our Philosophy • Invest in services, infrastructure/technology and content • Domestic, International • Pervasive Computing • Generally, invest at an early stage • As often as possible, invest locally • Work closely with management • Use the strengths of partner: JPMP

  8. Transactions - Content • Geocities • Starmedia Network • TheStreet.com • Gamesville.com • Onlinepartners - gay.com • Powerful Media – [Inside.com] • Urban Box Office (UBO) • The Industry Standard • The New York Times Digital

  9. Transactions – Services • Multex.com • ITXC • iXL Enterprises • Mainspring • Comscore • Acurian • Electron Economy • Return Path

  10. Transactions–Infrastructure/Technology • Resonate • Ibiquity • Reciprocal • Portal Player • AppGenesis • Eshare Technologies

  11. Transactions – International • Starmedia Network • Sina.com • sportsya • Patagon • Submarino • Mercado Libra • Viajo

  12. Transactions–Pervasive Computing • Vindigo • Fusion One • Vertical One • Quixi • Kozmo • Kinkos.com

  13. What do Venture Capitalists actually do ….? ? ?

  14. The Venture Capitalist’s Role … according to Flatiron • We buy a part of the Company • We are Owners • We are on the Board of Directors

  15. The Venture Capitalist’s Role … according to Flatiron • We become Partners with the founders and management • We think like Owners • We help with …Strategy, Recruiting, Raising money, Opening doors, High level sales intros, Going public, Merging, etc

  16. An Analogy – A VC is a Producer • A VC is like a Movie Producer • We help find money, people, bankers, clients, the Board, etc. • To Management, we are …friend, foe, shrink, cheerleader, teacher, idiot, partner.

  17. The Market Today…

  18. U G L Y !

  19. The Market Today • To many questionable ideas funded the last few years • Portfolio Triage • Support or Euthanasia

  20. The Market Today • Hard to put together financings • Investors focused on their portfolios • Valuations down – a buyers market

  21. Expectations • Invest more slowly • Spend less & grow within your means • Conditions and psychology start to improve later this year

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