Post on 07-Aug-2015
Ascension Ventures Presents Inves0ng in Digital Media & Tech Start-‐Ups February 18, 2015
Introduc)on to Ascension Ventures
• Ascension Ventures is an early-‐stage investment firm backing entrepreneurs in the digital media and tech sectors
• The UK Tech & Digital Media start-‐up ecosystem is thriving:
• Crea)ve businesses in the UK drive a hugely influen)al entertainment industry that is predicted to grow to £65.5bn in 2017
• Concepts can be tested quickly and at low cost
• SEIS & EIS tax incen0ves
• Booming talent pool
• Ascension currently runs yearly SEIS Funds inves)ng in digital media businesses (UK wide)
• Birmingham City Council (‘BCC’) and Ascension have created a joint venture
• Part of the deal includes Ascension advising on BCC’s £5m ‘Crea0ve Fund’ and £1M ‘Hi-‐Tech Fund’ (Birmingham only)
Ascension Ventures Team
Jean de Fougerolles, CEO Ascension Ventures Jean has over 15 years experience working in media and digital businesses for MTV and as CEO of a start-‐up called Two Way Media, which he exited before becoming CEO at Ascension Ventures. Jean holds an MBA from INSEAD in France and was an angel investor in Atom Films, which was sold to Viacom for $200M
John Handley, Chairman Ascension Ventures John is an experienced Private Equity prac))oner of over 20 years and winner of the Midlands Dealmaker Awards four )mes with Bridgepoint (once) and LDC (three )mes). A seasoned Non Execu)ve Director having held numerous board seats in a private equity and independent capacity during that period. Previously John was an Investment Commi`ee member of LDC and currently chairs the Investment Commi`ees of Finance Birmingham and CCF (Capital Crea)ve Fund) in London
Sam Miller, Investment Director Ascension Ventures Sam has a diverse background of 10 years in banking/venture capital and treasury management, having worked on funding start up businesses to working as part of a team that delivered transac)ons with EVs of £40m plus (largest being Steelite at £45m). Sam’s role as Investment Director is to originate, transact and complete SME opportuni)es that require debt and equity investments
Kieran Hill, Investment Manager Kieran joined Ascension in 2013 and is part of the investment team analysing new business opportuni)es, managing the companies communica)ons and marke)ng, and working with the pordolio businesses. Before joining Ascension, Kieran worked for a proprietary trading house in the city as deriva)ves trader, an Account Director at an online video start-‐up (where he and Jean met) and a freelance journalist for the Guardian newspaper
ASCEND Fund I – Sample of Por\olio Companies
Ascension Investment Criteria • Digital Media Focus – 21st Century Crea)ve Businesses give Brand Boost
• Scalable IP, mainly B2B2C
• Strong Team: 2 co-‐founders
• Pass the 3D due diligence test: Development, Design, and Distribu0on
• SEIS companies: MVP built with early trac)on, well defined marke)ng strategy, and clear route to revenues
• Lean Start-‐Up: 12 month runway
• Trac0on for next round
Ascension Mentors
Music, Sports Live Events
Pierre-‐Jean Sebert -‐ Ex-‐MD EUROSPORT
Campbell Murray -‐ Ex-‐Director VODAFONE, CEO
TAKESTOCK Fred Bolza -‐ VP Marke)ng
SONY MUSIC
Kids & Games Howard Libon-‐ Ex-‐MD NICKELODEON UK
Jeff Jones-‐ Ex-‐VP Digital Games DISNEY
Publishing & Ad Tech Mark Brandon -‐ Ex-‐
Commercial Director VIRGIN MEDIA
Helene Panzarino -‐ Growth Manager INNOVATION
FINANCE Markus Malik -‐ Ex-‐VP/CIO
PENGUIN
Online Video Peter Cowley -‐ Ex-‐MD Digital
Media ENDEMOL Mark Wood -‐ Ex-‐CEO FUTURE PLC, ITN
Jon Gisby -‐ Ex-‐MD YAHOO! UK, Director CHANNEL 4
SAAS & eCommerce Robert Durkin -‐ CEO
FUSEPUMP Eldar Tuvey -‐ Founder
SCANSAFE David Caswell -‐ Ex UNILEVER
& TELEWEST Alex Viall -‐ Entrepreneur &
Angel Investor
Strategic Industry Co-‐Invest Partners
Strategic Corporate Partners
Finance Birmingham co-‐invest with Midlands based businesses – deal agreed
Angels Den members inves)ng into ASCEND Fund II with 15% SEIS open to co-‐invest – partnership helps pordolio obtain follow-‐on funding during EIS round – deal agreed
Pharus Advisors is a US based M&A firm with offices in NYC and SF. Industry focus on digital media and tech with strong links to US VC community -‐ deal agreed
more coming soon...
Closing
• Ascension SEIS Fund – digital media focus
• BCC Crea0ve & Tech Funds – much broader focus with £50-‐400k investment sizes and seeking:
• Local businesses looking for funding
• Local talent looking for start-‐ups to join
• Local mentors
• Local co-‐invest partners (angels & ins)tu)ons)
• To foster more cohesive and vibrant local tech eco-‐system
• Please get in touch kieran@ascensionventures.com
Ascension Ventures Presents Inves0ng in Digital Media & Tech Start-‐Ups February 18, 2015