1 / 23

Bridging the Valley of Death - Industrial Technologies 2012 by Ulla Brockenhuus-Schack

Bridging the Valley of Death - Industrial Technologies 2012 by Ulla Brockenhuus-Schack. 19 .6.12. 1. Introduction. SEED Capital in brief. The largest early stage venture fund in Denmark . Government pre-seed funding €8-9 million / year Traditional venture funds

maynard
Download Presentation

Bridging the Valley of Death - Industrial Technologies 2012 by Ulla Brockenhuus-Schack

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bridging the Valley of Death- Industrial Technologies 2012by Ulla Brockenhuus-Schack 19.6.12

  2. 1 Introduction

  3. SEED Capital in brief • The largest early stage venture fund in Denmark. • Government pre-seed funding €8-9 million / year • Traditional venture funds • € 240 million (DKK 1,8b) under management • 70 portfolio companies • 11 positive exits and 1 IPO • Attracted more than 320 million € (DKK 2,4b) to portfolio companies over the last 7 years • Team of 20 of which 14 investment professionals with relevant domain knowledge

  4. 2 The Challenge: Crossing the valley of death

  5. Investment landscape Technologycreation Market-Focused Business and Productdevelopment Commercialization Cash flow Sales Time Valley of Death Governement & pre-seed Seed & Business angels Venture Capital Stock Typical investors Public Sector Private Sector

  6. 3 Innovation Incubators: Govermentfundedpre-seed investors

  7. Innovation Incubators in Denmark • 6 Innovation Incubators have annual budget of €28m • Purpose: Help universities and innovative entrepreneurs to select and commercialize high potential inventions and to assist them to grow and get further funded • Invest up to € 800.000 in a single company applying traditional ‘venture capital methods’

  8. Innovation IncubatorCircle of life Government funds to Innovations Incubator is repaid 10 times

  9. 4 The SEED Capital business model - in cooperationwith DTU Symbion Innovation A/S

  10. We work from research to venture DTU Symbion Innovation Government financed pre-seed funding Yearly investment budget of € 7m (+50 mDKK) Up to € 0,8m (6 mDKK) per project Dedicated team of 10 Investment Managers • Research • DTU • RISØ • KU / KU-life • ITU • AAU • SDU • AU • HS • GTS: i.e. Delta & Bioneer SEED Capital 6 partners responsible for DSI and 4 Venture Funds Pre-emptive investment rights from DSI Up to € 9m (68mDKK) per project

  11. Deal Sourcing Business Due Diligence Review IM investment Business Due Diligence SEED Investment Deal Sourcing Review SEED (option) A unique selection process to test team, IPR, technology development, market etc. and secures time to establish syndication for VC funding 6-18 month “live” Due Diligence DTU Symbion Innovation SEED Capital

  12. Howweselectinvestments

  13. Investmentsizes Private funding Public funding 0,8 – 9 mio. € 40% 0,3 mio. € 72% 0,5 mio. € Time DTU Symbion Innovation Secondaryinvestment DTU Symbion Innovation Primaryinvestment SEED Capital

  14. Closely linked to Denmarks largest Incubator - Accelerace 155 companies emerged from Accelerace 97% are still active * - inkl. Gazellegrowth, Bio, Spin-off ** - Survey from 2010

  15. Partners Operational Entrepreneurial Executive Investment Consulting Transaction Board Private Equity Experience

  16. We are never better than our organization • Investment team • One location • Domain knowledge • Clear goals and incentives • Investments management procedures well established • 12 module VC training program developed in-house + EVCA courses

  17. Strong international syndication • Abbott US • AccelLN • Aravis CH • Astellas US/JA • BioFundFI • Captricorn B • Coloplast • Conduit UK • DeNovoUS • EGJ DK • Faurecia F • FerdN • InnFond • Inventages CH • IVS/Northcap • Lundbeck Foundation • Merck SeronoCH • Navistar US • Nestle CH • Nordea Foundation • Northzone • Novartis Venture • Novo SEED • Novo Ventures DK • Pferd N • REW DE • Seventure FR • SolvayB • Sunstone • TMP US • Vecata • Vækstfonden • YasudaJP • Business angels (50+)

  18. Case: • TechnologyremovingNOx from diesel emission. • Building onlegislaturenowbeingpassed in US and EU onNOx emission control. Technological foundation developed at DTU SEED Capital Investment 2011 Partnership with Faurecia 2004 2010 Partnership with Navistar Innovation Incubator investment

  19. 5 Results

  20. DKK 2.4 bn Private Funding (9x) Note: Exludingfunding to Symbion Capital portfolioworth 1 b DKK (primarilyEvolva)

  21. Documentedstrong performance • DSI verystrong performance compared to other Innovation Incubators • Outperforms other Innovation incubators on capital attracted by a factor 9 • Shows highest return on investment • From 2007 to 2010 • Portfolio turnover grew from € 110.000 to € 400.000 • Portfolio employees grew from 3 to 7

  22. Significantvalue has beenbuilt in notoriousdifficult segment

  23. Contact details • Thank You • Ulla Brockenhuus-Scahck • Managing Partner • SEED Capital Denmark • Diplomvej 381 • DK-2800 Kgs. Lyngby • T: (+45) 2082 8374 • ubs@seedcapital.dk

More Related