suw funding startups, timo ahopelto
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1
October 28, 2009
Serial entrepreneurs co-creating growth companies
in health and Web
Funding start-ups
Timo AhopeltoFounding Partner
timo@lifelineventures.com
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October 28, 2009
Timo.
Minulla on vanha vakava rytmihäiriö.
R&D palaverissa olinsaada sydänkohtauksen.
Voinko mennä kotiin loppupäiväksi?
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October 28, 2009
Timo. I still believe that your company is the best. You are financially stable and you have the best technology.
EUR 2.5 million in due payments > 100 days. My CTO almost got heart attack.
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October 28, 2009
Co-creating growth companies
PetteriKoponen
TimoAhopelto
JarkkoJoki-Tokola
• Built four life sciences and telecoms companies to global market leaders• Raised in excess of €100 million in venture capital and angel investor funding• Built the best-performing venture-funded life sciences IT company in Finland• Worked in all the startup CxO roles in Europe, the US and Asia
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October 28, 2009
Call us if...
• Your idea is revolutionary, industry-defining or otherwise bigger than life
• You will lead a global category
• Your team masters technology, science or core processes
• You believe it would be fun to work together to create a ’once-in-a-lifetime’ experience and significant value fast
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October 28, 2009
Venture capitalreturns continue to slide
Source: Cambridge Associates 2009
0.00
1.00
2.00
3.00
4.00
5.00
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7.00
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Total value of paid-in capital by year
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October 28, 2009
Reason?We have moved away from
entrepreneurs funding entrepreneurs
How it used to be Today
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October 28, 2009
Call for experienced entrepreneurs to drive companies go international
Select 2-3 start-ups /manager
Managers work hands-on
Managers invest into start-ups personally
Public funding leverage from Tekes, Veraventure and Finnvera
What did we decide to do in Finland by the Ministry?
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October 28, 2009
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October 28, 2009
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October 28, 2009
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October 28, 2009
About raising money...
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October 28, 2009
Fund-raising is easy for passionate entrepreneurs with big idea and capability to execute
It is difficult only for MBAs with business plans
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October 28, 2009
Timing is everything. You need to raise against the next stage of expectations.
Idea Alpha Real customers Real revenue growth
$ $ $ $ $
Real traction
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October 28, 2009
Amount is important. You need to raise to deliver the expectations.
Idea Alpha Real traction Real customers Real revenue growth
$ $ $ $ $
Can this really scale?
Is this really validated bycustomers?
Does thiswork?
Where is your trend-line?
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October 28, 2009
Story #2
Founding CEO of CRF Health – the company we just bought back from 3i plc and a top performing
VC-funded Finnish IT company all time
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October 28, 2009
CRF Health funding story for EUR 25 million
Idea Alpha Real customers Real revenue growth
$ $ $ $ $
Real traction
2000* Stratos Ventures* Angels
2001* 3i* Stratos Ventures
Not capable to attract new investors
2002* NVP * 3i* Stratos Ventures
Bridge funding fromthe investors
2010Founders bought 3i out
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October 28, 2009
Business plan document is over-rated. Plans don’t close deals, results do.
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October 28, 2009
Network.
But understand that networks do not close deals either - and if you are good enough, you don’t need networks to start.
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October 28, 2009
Have timeline and keep it.
We will close this round by end of this year to have our product launched by end of Q1 next year.
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October 28, 2009
Ending words...
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October 28, 2009
Think what you would expect from someone you trust your money to?
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October 28, 2009
The list can become quite simple...
Good ideaGood teamBig market
Capability to executeReturn for the money
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October 28, 2009
Serial entrepreneurs co-creating growth companies
in health ad Web
Contact us to talk more!
Timo AhopeltoFounding Partner
timo@lifelineventures.com
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