Download - Startup galore the best way of financing ramp up for founders ... a view from a venture capitalist

Startup Galore … … -‐ the best way for founders to ramp up financing.

Thomas Grota, Investment Director T-‐Venture (Deutsche Telekom) @thomasgr Blog: thomasgr.tumblr.com

Thomas Grota, Investment Director T-‐Venture Venture Capital Firm of Deutsche Telekom AG

§ CTO of Pironet AG for 7 years (IPO 2000) § Dynamic CMS & Digital Asset Management

§ Deutsche Telekom 2003 -‐ today: § VP MarkeSng & Strategy (Paris, London) §  IPTV Expert at Detecon (Asia, MENA) §  Investment Director at T-‐Venture

§  Exited apprupt to Opera §  Exited Swoodoo to Kayak §  Exited 6Wunderkinder to Sequoia §  Raised +$250m for his por`olios

Thomas Grota – Investment Director T-Venture Holding GmbH – @thomasgr

My current por`olio and areas of VC experSse:

Mobile Internet, Big Data & Cloud based Pla`orms


E X I T S

Selected successful exits of T-‐Venture

E-Commerce solution 1998: IPO

@motion Wireless internet access

2000: trade sale to Openwave (formerly: phone.com)

Web conference provider

2000: IPO

Internet payment services 2010: trade sale to Deutsche Telekom

Online Flight Search and Bookings 2010: trade sale to KAYAK

Optical Networking Applications 2010: trade sale to Cisco

Fabless Semiconductors 2010: trade sale to Broadcom

Real-Time Collaboration Software 2011: trade sale to Citrix

Search Portal for Discount Offers of Local Retailers

2011: trade sale to Axel Springer

Wireless Access Technology 2012: trade sale to Ericsson

"On-Demand" E-Commerce 2012: IPO

Wireless Systems for Home Networks 2012: IPO

Security Solution for Mobile Enterprise Devices

2012: trade sale to Rapid7

Mass calling service 2002: trade sale to Deutsche Telekom

Femtocell Technology 2013: trade sale to Cisco

Customer experience management solution. 2009: trade sale to Tektronix

Communications Mobile messaging solutions

2008: trade sale to Nokia Web based calling company

2010: trade sale to Telefonica End-to-end wireless internet solution

2008: trade sale to Microsoft

E-Commerce 2006: shares sold to

Holtzbrinck + Weltbild Multimedia core solutions

2007: IPO

Core networking infrastructure provider. 2008: trade sale to

Nokia Siemens Networks

Social P2P media networking platform 2006: trade sale to

Sony Pictures Entertainment

M-commerce infrastructure solution

2006: trade sale to Amdocs

Mobile broadband 2005: trade sale to

QUALCOMM

Transit application 2013: trade sale to Apple

Multi-platform productivity solution 2013: trade sale to Sequoia

Mobile advertising 2014: trade sale to Opera Software

5

1st Stage: Equity is the most valuable asset you have.

Don't run for the big check -‐ at least in the begining.

7

Keep your costs low: office, travel, opex, etc. a lot is for free out there or share from friends

8

Always ask for advise -‐ not for money. (money will come if advisor is interested)

9

When taking investors on Board, let them pay with connecSon, operaSons, biz dev, sales, markeSng...

10

2nd Stage: Be carefull … when taking on financial investors

11

Prefer more parSes, at least two parSes from start. (Google took SeqCap & KPCB)

12

Aeer first round always seek new investors. Don't get depended on your current investors.

13

You will be in fundraising mode allways & at all Smes Never stop, Never give up.

14

Consider secondaries whenever possible. Exit for early investors to protect your own equity.

15

3rd Stage: Think about Exit as a precausion

16

Opportunity for Exit can come every day, be prepared Have made up your mind -‐ 'No' is always an opSon.

17

Consider: Early Exit: lower price, big stake vs. Late Exit: higher price, small stake

Opportunity for New Venture is in Early Exit.

18

Stay in driver seat during Exit process – it will consume ressources but is worth while.

19

Breakup could happen – so be prepared.

20

Have enough runSme for your exit road.

T-‐Venture Por`olio contains currently 100 companies. Two Funds managed for Deutsche Telekom AG
