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.
- Comerica Bank
- Woodside Fund
- Woodruff-Sawyer & Co.
- Citi's Private Equity Services
- 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
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
Fisher Lynch Capital
Credit Suisse Alternative Capital Group
Altius Associates Limited
GIC Speical Investments
President, Technology & Life Sciences Division
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.
New Enterprise Associates
Sherwood Partners, LLC
12:15 - 1:15
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.
Norwest Venture Partners
2:00 - 2:30
Networking & Refreshment Break
Hosted by: Woodruff-Sawyer & Co.
2:30 - 3:15
Ensuring The Competitive Future of a Young Company: How Are Today's VCs Growing Start-Ups to Become Global Leaders
This panel will discuss how each investor proceeds with creating strategy to accelerate growth globally, while creating unique value and strategic business integration.
- 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
VC Seed Investing Through Angel Group Window
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.
Sand Hill Angels, Inc.
Claremont Creek Ventures
3:15 - 4:15 pm
Disruptive Technologies Impacting Commercial Markets: Thought Leadership Update
VantagePoint Venture Partners
Draper Fisher Jurvetson
Director, Tech Transfer
The Marketing of an Early Stage Venture Firm
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?
Founder and President, Jennifer Jones Consulting
Host, Marketing Voices, PodTech.net
Early Stage Expectations on Exists: Preparing for the Liquidation Event
- 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
T. Yates Exley
Head of Mergers & Acquisitions
Merriman Curhan Ford & Co.
Bay City Capital
Assistant Vice President
Woodruff-Sawyer & Co.
Early Stage Portfolio Company Marketing: Hits and Hazards
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
Founder and CMO
Burke Technology Consulting
5:15 - 6:30
Friday, October 12, 2007
7:30 - 8:30 am
Networking & Continental Breakfast
Hosted by: Comerica Bank
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
Levensohn Venture Partners
US Venture Partners
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.
Lang J. McHardy
Kodiak Venture 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.
Vice President, Private Equity Group
Wilmer Hale LLP
Oak Hill Investments*
Adam Street Partners*
James Irvine Foundation*
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.
Author of the best-sellers Crossing the Chasm and Dealing with Darwin
Venture Partner, Mohr Davidow Ventures
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
Kleiner Perkins Caufield & Byers
Senior Vice President, Venture Capital Group