december 7, 2009 task force hearing on jobs liddy karter [email protected] 203 376 7958...
TRANSCRIPT
December 7, 2009
Task Force Hearing on Jobs
Liddy Karter
203 376 7958
Entrepreneur’s Tax Credit
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lkarter@[email protected]
Active Angel Investor Active Angel Investor • Liddy KarterLiddy Karter
• Managing Director, Karter Capital Advisors, llcManaging Director, Karter Capital Advisors, llc• Director and founder of Angel Investor Forum, Director and founder of Angel Investor Forum,
• Chair Public Policy Comm. Angel Capital Assoc. Chair Public Policy Comm. Angel Capital Assoc. • Background: Background:
• Director of Innovation Pipeline AcceleratorDirector of Innovation Pipeline Accelerator• A program of the CT Technology Council sponsored by the A program of the CT Technology Council sponsored by the
DECDDECD• CFO of CT based, VC backed, software co, sold to CFO of CT based, VC backed, software co, sold to
NCRNCR• CEO of CT based, Angel backed, environmental co, CEO of CT based, Angel backed, environmental co,
sold to Casella Waste sold to Casella Waste • Investment Banker: Morgan StanleyInvestment Banker: Morgan Stanley• Yale MBA, Columbia B.A. Yale MBA, Columbia B.A.
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lkarter@[email protected]
Leverage Private Capital Leverage Private Capital • National Angel Investing statusNational Angel Investing status• Angel Investor ForumAngel Investor Forum• Wisconsin ModelWisconsin Model• Ohio Model Ohio Model • Lerner RoadmapLerner Roadmap• CT Roadmap for Job growthCT Roadmap for Job growth
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HAIL THE JOB CREATORSHAIL THE JOB CREATORS
From 1980 to 2005, From 1980 to 2005, firms less than five firms less than five years old accounted years old accounted for for ALLALL net job growth net job growth in the United Statesin the United States..
Business Dynamics Statistics Business Dynamics Statistics Briefing: Jobs Created from Briefing: Jobs Created from Business Start-ups in the Business Start-ups in the United States, January, 2009.United States, January, 2009.
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Companies Backed by American Companies Backed by American AngelsAngels
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Sources of Start-up FundingSources of Start-up Funding
Venture Capital ~$ .3 BVenture Capital ~$ .3 B3,800 total deals/yr3,800 total deals/yr
State Funds ~$ .5 BState Funds ~$ .5 BAngel Investors ~$20 BAngel Investors ~$20 B
55,000 deals/year55,000 deals/yearAngels: 90% of outsideAngels: 90% of outside equity for start-upsequity for start-upsFriends & Family ~$60 Friends & Family ~$60
billionbillion$0$2$4$6$8
$10$12$14$16$18$20$22
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Sources: MoneyTree, NASVF, multiple studies on informal capital
Angels
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• MissionMission: Support the growth, financial : Support the growth, financial stability, and investment success of its stability, and investment success of its member groups. member groups.
• 160 angel groups160 angel groups• 7,000 investors7,000 investors• 20 affiliates20 affiliates• 49 states/ provinces49 states/ provinces
Angel Capital Association Angel Capital Association TodayToday
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Investor Cluster Locations:
Hartford / New Haven / Stamford
68 Active membership
49 Paid members
15 new members in 2009
Plus Prospective Members, Sponsors & Advisors
Angel Investor Forum Angel Investor Forum TodayToday
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Portfolio SummaryPortfolio Summary
• AIF members have directly invested over $4 AIF members have directly invested over $4 million in 28 deals since Nov 2004. million in 28 deals since Nov 2004.
• Over $30 million invested by others alongside Over $30 million invested by others alongside those investors. those investors.
• 134 jobs created with 84 jobs in CT 134 jobs created with 84 jobs in CT • Sectors range from consumer products, IT to Sectors range from consumer products, IT to
biotechbiotech• 2 successful exits, both sales to larger companies. 2 successful exits, both sales to larger companies. • 2 failures2 failures• CAGR exceeds 50% for remaining portfolioCAGR exceeds 50% for remaining portfolio• Cost to State of CT: 0 Cost to State of CT: 0
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AIF’s Sponsors and AffiliatesAIF’s Sponsors and Affiliates• Cash Sponsors:
• Foley Hoag, Boston Based Law Firm• Hinckley Allen & Snyder, Boston Based Law Firm• CT Innovations
• In Kind Sponsors• CT Technology Council • CT Center for Advanced Technology• Robinson Cole• Wiggin & Dana• Accounting Resources Inc• Yale University• UConn
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Thank youThank you
Liddy KarterLiddy Karter
[email protected]@kartercapital.comm
203-376-7958203-376-7958
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