mario orasche, eagle ventures @ tmt.ventures'08 zagreb
DESCRIPTION
Mario Orasche, Eagle Ventures - presentation from TMT.Ventures'08 Zagreb (http://tmtevents.eu by New Europe Events)TRANSCRIPT
Eagle Ventures HQ Technology Park 19
1000 Ljubljana Slovenia
+386 1 620 3420
Serbian Office Cara Lazara 3
11000 Belgrade +381 633 54 203
Croatian Office Lučića 5
10000 Zagreb + 385 91 562 3094
EAGLE VENTURES Technology Investing in Central and Southeastern Europe (CSE)
CSE Ready For Tech VC 2008-10-28
Page 2
Human Capital Robust Position in the World
Human Capital is one of the key success factors of the region
Managerial skills
Serial entrepreneurs
Reverse braindrain
Page 3
ICT in CSE The Region is Ready for Tech
The Network Readiness Index 2007-2008 Rankings Significant investments into ICT infrastructure make CSE ready for tech
Page 4
Internet Penetration Surge in Online Accesses
Online access is key in today‘s business world
Countries Population (2007)
Population (% Penetration)
Usage Growth (2000-2007)
Bosnia 4,552,198 20.9% > 130x
Bulgaria 7,322,858 30% > 4x
Croatia 4,493,312 37.5% > 7x
Hungary 9,956,108 35.2% < 4x
Macedonia 2,055,915 19.1% > 12x
Montenegro 684,736 38.8% n/a
Romania 22,276,056 31.4% < 8x
Serbia 10,150,265 13.8% 2.5x
Slovenia 2,009,245 62.2% > 3x
Page 5
Page 5
Several technology as well as investment Initiatives, support VC activities
PE/VC Investments Still Large Equity Gap
Page 6
Exit Channels Selected PE/VC-Backed Exits in CSE
Company Activity (Country) Investor Exit
Type Acquirer
(Country) Year Price / Multiple
ISP, Cable Provider
(HR) CCP, SEAF,
SEEF TS BEWAG (A) 2007 €55m /
10x
ISP (HR)
ANI, EPIC, DKC
TS T-HT (HR) 2006 €13.7m /
+5x
Job Portal (HR)
Business Angels TS Daily Mail
(UK) 2007 £5.5m / +5x
Web 2.0 (HU) Business Angels TS T-online
(D, HU) 2006 € 4m / 10x (est.)
Cable Network (ROM)
AIG et.al. TS UPC
Broadband (NL)
2005 €335m
Electronic Components
(SLO) Horizonte TS Mohar Satler
(SLO) 2007 €6.3m / 4x
Software & IT (SLO)
Business Angels TS ComTrade
(SRB) 2008 €40m
Alternative Telco (SRB)
Business Angels TS
Telekom Slovenia
(SLO) 2006 €26m
Despite recently increasing tech M&A activity in the ICT sector, CSE remains largely off the VC industry radar screen
© 2008
Page 7
Characteristics 2003 2008
Managerial skill sets Limited Significant
Serial entrepreneurs X Emerging
Reverse braindrain in tech industries Rarely Significant, gaining momentum
ICT infrastructure Poor Improving fast, leapfrogging
ICT initiatives Microsoft Technology Centers and R&D departments of Ericsson, Siemens, Cisco, HP, Oracle, SAP etc.
Limited Present in a number of
locations and increasing
Internet penetration Limited Significant
Legal and political environment Weak Converging to EU
Purchasing power Low Medium
Business angel networks X Evolving
VC investors X Emerging interest
Exit channels Constrained Mostly TS / few IPOs
ICT INVESTMENT READINESS NOT READY READY!
Region CSE Environment Ready for Tech VC Investing
The CSE landscape for technology firms has changed essentially over the last few years
© 2008
Page 8
Introduction to Eagle Ventures Unique Triple Focus
Eagle Ventures is the 1st VC firm prepared to capitalize on the vast untapped CSE tech opportunity
VC
Tech CSE
Page 9
Eagle Ventures’ Team Multinational from CSE
Eagle’s set-up is modeled after top tier West Coast VC's organizations to add value to technology companies and to maximize returns
Venture Advisors Advice on Investment / Divestment Decisions
Alon Adler
Alan Barrell
Peter Globokar
Nino Marakovic
Peter Zaboji
Venture Partners Hands-on Management Support to Portfolio
Zdenek Bilek
Karl Heinz Messer
Dragan Pleskonjic
Damir Sabol
Peter Szlavik
Domen Verdnik
Supervisory Board
Portfolio Companies
FUND New Europe
Tech I
2 3 4 5-15 1
Fund Management Company
Investment Manager II
Managing Partner, SLO MP, SRB
HR and IR, SLO
MP, HR
Analyst, SRB Tech Expert, SLO
Crucial Venture Capital Skill Sets Venture Capital + Technology + Finance + Operations
Mario Orasche
George Sarcevich
Vladimir Delic
Julia Arlt
Damjan Lampret
Ivan Vrdoljak
Page 10
Eagle Ventures’ Summary Key Reasons to take Eagle Ventures on Board
Focused + Experienced + Regional + Connected
_______________________
= MAXIMIZING COMPANIES’ VALUES
Most experienced tech VC team in the region Over 16 years of tech venture capital experience
Close to 50 years of ICT sector experience
Multinational team with deep local market knowledge 10 nationalities, incl. ex YU
World class regional, pan-European and global network High profile senior advisors from Silicon Valley, over Israel,
Cambridge and London to the region
Page 11
Client Media Platform Media Player
Live Mobile Video Streaming: SLO/West Coast team with global market leader potential
Eagle’s 1st Deal A Potential ‘Home run‘ from CSE