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Global Venture Capital

Global Venture Capital. March 19, 2007 Michael Korver, Managing Partner. Global Venture Capital. Tokyo-based independent venture capital firm since 1997 Five partners Invested in over 35 ventures Investment thesis: “Globally source, invest locally” www.gvc.jp.

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Global Venture Capital

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  1. Global Venture Capital March 19, 2007 Michael Korver, Managing Partner

  2. Global Venture Capital • Tokyo-based independent venture capital firm since 1997 • Five partners • Invested in over 35 ventures • Investment thesis: “Globally source, invest locally” • www.gvc.jp

  3. “Globally Source, Invest Locally” Investments in early-stage ventures located around the globe that have “meaningful contacts” with Japan and/or other economies of Asia . “Meaningful contacts” include one or more of the following attributes: ① A large potential market in Japan and/or other Asian countries and a strong commitment on the part of management to consider these markets to be of significant importance.②A technology, product or service that is amenable to due diligence by applying technology resources accessible internally or in Japanese and/or other Asia-based corporations or academic/research institutions.③A strong potential interest by Japanese or other Asia-based corporations in partnering with the venture.④The potential to undertake an IPO on the Japanese capital markets.

  4. Why Our Investment Strategy • “One size doesn’t fit all” – innovation not bounded by geography; markets are global • Silicon Valley doesn’t need more VC money or “bridging organizations” • U.S. not the appropriate first market for all innovations • Too competitive • Early adopters may be elsewhere • Infrastructure to support growth of the market may not exist in the US • Larger potential markets may exist outside of the U.S. • Powerful potential competitors or partners may lurk in Asia

  5. What we look for • Market opportunity • Large and fast-growing • Compelling value proposition • Effective “go-to-market” strategy • Management team • All bases covered • Experienced • Technology or other sustainable “barriers to entry”

  6. Case Studies • Hoku Scientific (Nasdaq: HOKU) • Alternative energy (Hawaii): achieved IPO on the strength of commercial relationships with two large Japanese companies • SpectraGenics • Medical equipment (California): Launched product in Japan pending FDA approval in the U.S. • ReallyEnglish.com • ITC (U.K.): English language online learning content developed in U.K. but primary customers in Japan • GeoVector • ITC (California/New Zealand): Development team in NZ and first market in Japan’s world leading mobile telephone sector

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