Sequoia Capital: Warren Hogarth at Haas Cleantech Energy Panel
10
SEQUOIA CAPITAL CONFIDENTIAL SEQUOIA CAPITAL CONFIDENTIAL Haas Alternative Energy Speaker Series November 16, 2010
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Warren Hogath at UC Berkeley's Haas School of Business Alternative Energy Speaker Series.
Transcript of Sequoia Capital: Warren Hogarth at Haas Cleantech Energy Panel
SEQUOIA CAPITAL CONFIDENTIAL 1
SEQUOIA CAPITAL CONFIDENTIAL
Haas Alternative Energy Speaker SeriesNovember 16, 2010
SEQUOIA CAPITAL CONFIDENTIAL
Then
1972
West of the Rockies
Venture Stage
Information Technology
SEQUOIA CAPITAL CONFIDENTIAL
Now
40 years of constant change
China, India, Israel, U.S.
Seed, Venture, Growth
27 Funds
800+ Companies
150+ IPOs
150+ M&As
SEQUOIA CAPITAL CONFIDENTIAL
Sequoia Capital 2010
TEL AVIV
5 INVESTORS
MENLO PARK
20 INVESTORS
BEIJINGSHANGHAI
HONG KONG
15 INVESTORS
DELHIMUMBAI
BANGALORE
14 INVESTORS
SEQUOIA CAPITAL CONFIDENTIAL
Energy/Cleantech Alternative, Conventional, Efficiency, Storage, Monitoring + Testing
Financial Services Banking, Brokerage, Information, Payments
Healthcare Services Contract Research, Diagnostics, Drugs, Labs, Patient Care
Internet Communications, e-Commerce, Enterprise, Gaming, Media, Search
Mobile Communications, Dev Tools, Enterprise, Gaming, Media Payments
Technology Carrier/Enterprise Infrastructure, Security, Storage, Cloud/SaaS, Storage
Ecosystem
SEQUOIA CAPITAL CONFIDENTIAL
Yesterday
Semis Systems Software Services
SEQUOIA CAPITAL CONFIDENTIAL
Elements of a Sustainable Company
✔ Clarity of purpose
✔ Spectacular market
✔ Alleviate customer pain
✔ Team DNA
✔ Incredible product focus
✔ Real operating margins
✔ Frugality
✔ Inferno with a single match
SEQUOIA CAPITAL CONFIDENTIAL
Cleantech / Energy
SEQUOIA CAPITAL CONFIDENTIAL
Exploration Generation Transmission Consumption Reduction
Gre
ente
chB
row
nte
ch
C12Havells
ISCA
Accelergy
Isilon
ThinSilicon
Clean cell
Changelight
Ind-Barath
CoastalProjects
A123
Tula
Achates
Luxim
Synapsense
Tribi
Colors of Cleantech
Coastal Projects
Jinye
SunRun
Prudent
Lubao
Sino
Shenghui
eMeter
Acoustic Eye
SEQUOIA CAPITAL CONFIDENTIAL
The Magic Metric: Gross Margin
Sustainable Companies = High Gross Margins (usually > 60%)
High Gross Margins imply:
Real customer pain
Differentiated product / strong IP
Lower cash requirements
Higher growth potential
Higher profitability potential
