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Boyden San Francisco participa en la conferencia sobre inversión en empresas incipientes

October 11-12 - The Marines' Club & Hotel, San Francisco, CA

The Changed Face of Early Stage Investing:

The traditional Silicon Valley model for early stage investments has been disrupted. Where VCs were once able to nurture and grow companies locally, today's investor is pressured to look beyond borders for deal flow, investment opportunities and in building portfolio companies. Additionally, the implications of a non-robust IPO market for growth technology companies continues to impact the way VCs do business, leaving early stage focused venture firms to support their portfolio companies longer as the proper exit strategy is selected. Now, more than any other time, the early stage companies.

Uniting over 300 early stage venture capitalists, the IBF Early Stage Venture Capital Investing Conference provides best practice, case studies, in-depth interviews, and keynote presentations by top-tier early stage fund managers who will share strategies regarWiding the new Silicon Valley investment model.

Audience profile: Venture capitalists, corporate investors, institutional investors, private equity investors, limited partners, angel investors, investment bankers, CEOs and CFOs of emerging growth companies, university & national laboratory technology transfer officers, and M&A executives.

Distinguished Sponsors:

  • WilmerHale
  • Comerica Bank
  • Woodside Fund
  • Woodruff-Sawyer & Co.
  • OceanTomo
  • Citi's Private Equity Services
  • Boyden
  • Sofinnova Ventures
  • Sand Hill Angels
  • Sherwood Partners

Thursday, October 11, 2007

8:00 - 8:45

Continental Breakfast & Conference Registration

8:45 - 9:00

Opening Remarks From The Chair
Vincent M. Occhipinti
Managing Director of Woodside Fund
Chairman, Early Stage Venture Capital Alliance

9:00 - 10:00

Early Stage Investing: New Rules For The Riskiest Venture Game
Venture capitalists speak out on problematic and real issues facing teh early stage investment sector

  • What makes early stage VC work
  • The competition climate for deals
  • Venture fund structures for early stage investments
  • What is the right number of investors in an early stage deal
  • How the last six months has shaped early stage investing: is there less competition for deals
  • Who are the new players and what kinds of deals they are doing
  • The "value added" services offered by today's investors and how they impact the growth of the start-up
  • The changed due diligence process and teh changing climate of funding startups
  • Are you an entrepreneur friendly firm
  • Challenges in building valuable companies: the impact of longer sales and business cycles
  • Best practices to serve the entrepreneurial partner: building new models around creativity
  • The current threat of stock options: actions and implications on FASB-will this hamper the entrepreneurial industry
  • The affects of over-capitalization in the industry and the continuing 'shock's of the bubble
  • How do VC mega funds invest effectively in early stage companies
  • Benefits of smaller funds: what can a small fund do that a large more mature VC fund cannot

Vincent Occhipinti
Managing Director
Woodside Fund

Terry Opdendyk
General Partner
ONSET Ventures

Pete Moran
General Partner
DCM

Sanjay Subhedar
General Partner
Storm Ventures

Moderator:
Curtis Mo
Partner
Wilmer Hale

10:00 - 10:30

Networking & Refreshment Break
Hosted by: Woodside Fund

10:30 - 11:30

The Limited Partner Perspective on Early Stage Venture Capital

The exit environment has changed since 2001 - perhaps forever - and VC exits are 90%+ M&A with a good M&A deal these days being $200M. For LPs, this new reality has substantially changed what they are looking for in GP fund managers. With capital efficiency now equally playing into their fund selection criteria, more LPs are becoming skeptical of investing in the early stage VC asset class. In light of the exit environment, what can GPs do to sustain LPs assurance when raising early stage funds.

  • Long-term strategies: what are the right long-term return assumptions for early stage VC
  • Fund differentiation and allocation models
  • Performance expectations
  • Manager assessment: how do LPs verify that top funds will continue to deliver - GP commitment issues, succession plans, "culture" and deal flow in changing organizations.
  • From an asset allocation standpoint, how do LPs assign commitments and manage diversification strategies.

Georganne F. Perkins
Managing Director
Fisher Lynch Capital

David Almodovar
Vice President
Credit Suisse Alternative Capital Group

Robert Hofeditz
Partner
Probitas

Pawan Chaturvedi
Partner
Altius Associates Limited

Chris Loh
Vice President
GIC Speical Investments

Moderator:
Greg Belanger
President, Technology & Life Sciences Division
Comerica Bank

10:30 - 12:15

Best Practices to Serve the Entrepreneurial Partner: Building New Models Around Innovation (case studies)

Case studies will be shared on how today's leading investors are foresting innovation worldwide and developing a variety of winning business models around an entrepreneur's extraordinary vision and true ambition.

Mark Perry
General Partner
New Enterprise Associates

Ravi Mohan
Managing Director
Shasta Ventures

Eric Buatois
General Partner
Sofinnova Partners

Moderator:
Marty Pichinson
Co-Managing Director
Sherwood Partners, LLC

12:15 - 1:15

Luncheon Reception
Hosted by: WilmerHale

1:15 - 2:00

CEO Success Stories: Leadership Interviews & Growth Strategies

CEOs will be interviewed by premier venture capitalists to discuss new models to raise the B round, recruit the right talent, battle competition and product launch, and forge strategic partnerships.

Interviewer:
Matt Howard
General Partner
Norwest Venture Partners

Panelists:
Vipin Jain
CEO
Retrevo

Renaud Laplanche
CEO
Lending Club

2:00 - 2:30

Networking & Refreshment Break

Hosted by: Woodruff-Sawyer & Co.

2:30 - 3:15

Concurrent Sessions

Ensuring The Competitive Future of a Young Company: How Are Today's VCs Growing Start-Ups to Become Global Leaders

Session A

This panel will discuss how each investor proceeds with creating strategy to accelerate growth globally, while creating unique value and strategic business integration.

Topics include:

  • Assessing the right time for an early stage start-up to analyze, strategize and expand to markets outside the US
  • For sectors such as mobile, semiconductor, and online gaming, does a global plan change from a nice to have to a must have
  • How does an early stage start-p address the global markets and properly allocate their limited resources
  • Capture market share
  • Offshore business development and R&D
  • Open source
  • Securing the strategic partnerships
  • Risk assessment
  • Launch differentiated produce and create platform to expand lines
  • Gain repeat customers, expand channels & revenues
  • Expand management teams, train employees
  • Start investing your second stage of growth

Moderator:
Tom Rosch
Gneral Partner
InterWest Partners

David Weiden
General Partner
Khosla Ventures

Rich Moran
Partner
Venrock Associates

Rich Wong
General Partner
Accel

VC Seed Investing Through Angel Group Window

Session B

This panel will explore how VC's participate within Angel Groups and their objectives for participating. The panel will discuss how VC's become exposed to quality seed investments and their strategies for matriculating promising companies into mutual VC-Angel seed investments or just VC investments. models for how these seed companies are mentored and matriculated into quality Series A opportunities will also be discussed.

Moderator:
Steve Stephansen
Board Director
Sand Hill Angels, Inc.

Ted Driscoll
Venture Partner
Claremont Creek Ventures

Ajit Medhekar
Venture Partner
Arch Ventures

Jack Carsten
Managing Director
Horizon Ventures

Dave Collier
Managing Director
CMEA Ventures

3:15 - 4:15 pm

Concurrent Sessions

Disruptive Technologies Impacting Commercial Markets: Thought Leadership Update

Session A

Moderator:
Cynthia Ringo
Managing Director
VantagePoint Venture Partners

Steve Jurvetson
Managing Director
Draper Fisher Jurvetson

Tim Woodward
Managing Director
Nth Power

Katharine Ku
Director, Tech Transfer
Stanford University

The Marketing of an Early Stage Venture Firm

Session B

Given the increased competition in the venture business, venture firms have to think strategically about their brand and the marketing of their brand. What works, what does not work in today's global environment?

Topics to be covered in this panel:

  • The value of marketing a venture firm: Why is it important today in this competitive market. (what it does: e.g. build a consistent advantageous identity in the marketplace; build leadership/ownership in specific areas; expand visibility/market reach; enhance firm credibility and GPs; build key relationship within "circle of influence" - ecosystem)
  • Define the best practices/strategies/tactics/tools to successful marketing and implementation (Media Relations, Events, Speaking Opps, Co-Sponsorships, Social Media tools (podcasts, blogs) etc)
  • Case studies from GPs/what has worked/what does not?

Lip-Bu Tan
Chairman
Walden International

Jim Jones
Managing Director
Scale Ventures

David Hornik
General Partner
August Capital

Moderator:
Jennifer Jones
Founder and President, Jennifer Jones Consulting
Host, Marketing Voices, PodTech.net

4:15-5:15

Concurrent Sessions

Early Stage Expectations on Exists: Preparing for the Liquidation Event

Session A

  • Given the lackluster IPO, how are VCs proceeding with early stage investments
  • Clear milestones to determine when to sell and identifying the right buters
  • The M&A landscape
  • Positioning for maximum wealth
  • Due diligence checklist
  • Forecast: creating value after the deal is done
  • How critical are overseas transactions
  • How your competitors are negotiating agreements
  • Strategizing your partner contacts
  • Purchase models and their variations

Moderator:
Peter Buhl
General Partner
BlueRun Ventures

Bart Schacter
Managing Partner
Blueprint Ventures

Jazon Matlof
Partner
Battery Ventures

T. Yates Exley
Managing Director
Head of Mergers & Acquisitions
Merriman Curhan Ford & Co.

Dayton Misfeldt
Investment Partner
Bay City Capital

Clark Morton
Assistant Vice President
Woodruff-Sawyer & Co.

Early Stage Portfolio Company Marketing: Hits and Hazards

Session B

Getting a new company to market in an ever-increasingly competitive environment is tough. But with strategy and considered implementation, success is attainable. This panel will discuss:

  • Understanding Customer Needs in Emerging Markets
    • Trend spotting and 'futurecasting' to identify the 'unmet need'
    • Using 'Voice of the Customer' input to define target segments and refine product concepts
    • Defining the 'whole product' that will meet customer requirements
    • Getting the most out of marketing and engineering input discussions with potential customers
  • Launch Strategies to 'Rise Above the Noise'
    • Evaluating competitive risks, competitive positioning
    • Perils of pre-selling and pre-announcing
    • CEO case studies of successful launch approaches

Ben T. Smith
Chairman and Co-Founder
Merchant Circle

John Zicker
President
Sana Security

Steve Tran
Founder and CMO
BeVocal

Moderator:
Patty Burke
President
Burke Technology Consulting

5:15 - 6:30

Cocktail Reception

Friday, October 12, 2007

7:30 - 8:30 am

Networking & Continental Breakfast
Hosted by: Comerica Bank

8:30-9:30

Session A:

Managing CEO Transition In Start-Ups

  • Exposing weaknesses
  • Identifying early on the miss match between the skill set of the founder/CEO and evolving needs of the business
  • Managing expectations
  • Projecting the future career path of the CEO
  • Strategic changes for growth and expansion
  • Avoiding CEO indignation

Moderator:
Keith Benjamin
Managing Director
Levensohn Venture Partners

Paul Matteucci
General Partner
US Venture Partners

Tom Jones
Chairman
Levanta, Inc.

Bob Concannon
Managing Director
Boyden

Armando Pauker
Partner
Apex Partners

Session B:

Valuation of Early Stage IP Opportunities and Risks

Intellectual Property and other intangible assets are as valuable, if not more so, to early-stage start-ups as they are to the companies in the S&P 500. Evaluating the strength of these assets beyond the binary question of thei presence can be critical to the success of a small company. Just as important as the target company's IP is an assessment of the risks posed by its competitors' IP. The panel will discuss ways to identify and benefit from IP-specific opportunities, and ways of assessing, valuing and mitigating IP risks.

Moderator:
Lang J. McHardy
Director
Ocean Omo

Panelists:
George Hoyem
General Partner
Blueprint Ventures

Chris Greendale
General Partner
Kodiak Venture Partners

Maha Ibrahim
General Partner
Canaan Partners

9:30 - 10:30

Winning LP Investors: Specific Strategies and Tactics

Given increased LP concerns about venture capital, what specific strategies and tactics are most likely to get LP investors excited about your next fund. This session features a panel of LP investors who will talk about what works and what doesn't work regarding approaching them; their views on early stage venture investing, and their views on emerging managers.

Julia Feldman
Vice President, Private Equity Group
Goldman Sachs

Thomas Beaudoin
Partner
Wilmer Hale LLP

Oak Hill Investments*
Adam Street Partners*
James Irvine Foundation*

Moderator:
Bill Reichert
General Parner
Garage Technology Ventures

10:30 - 11:00

Networking & Refreshment Break
Hosted by: Citi's Private Equity Services

11:00 - 11:30

Crossing the Chasm in 2007: Helping Early Stage Companies Close Large Contracts and Obtain Significant Customers

In a globalized, commoditized, deregulated marketplace, how will today's start-ups secure revenues, profits, and expand their consumer base? Geoffrey Moore provides insight on how today's investors can exploit growth potential, judge competition, and develop a robust customer base.

Geoffrey Moore
Author of the best-sellers Crossing the Chasm and Dealing with Darwin
Venture Partner, Mohr Davidow Ventures

11:30 -12:30

Overcoming The Toughest Milestone: Getting Early Stage Companies to the Next Round of Financing

  • The B round: raising the second venture rounds
  • Capital acquisition strategies for future rounds
  • How do you position your company to attract private equity
  • Warrants and bridge financing
  • Convertible bonds
  • What are the advantages and disadvantages of debt
  • Mezzanine, and preferred equity
  • Positioning the company from the start for follow on rounds
  • Strategies for follow on rounds

Moderator:
Jeff Fagnan
General Partner
Atlas Venture

Hemant Taneja
Partner
General Catalyst

Ajit Nzare
Managing Director
Kleiner Perkins Caufield & Byers

Sunita Patel
Senior Vice President, Venture Capital Group
Comerica Bank

12:30

Conerence Adjourns