How to Drive the Road to Exit… … a view from a Venture Capitalist

Helsinki - 28th of May 2014

My current portfolio and areas of VC expertise: Mobile Internet, Big Data & Cloud based Platforms

Thomas Grota – Investment Director T-Venture Holding GmbH – @thomasgr

E"X"I"T"S"

T-Venture Portfolio contains currently 100 companies. Two Funds managed for Deutsche Telekom AG

Thomas Grota – Investment Director T-Venture Holding GmbH – @thomasgr

Selected successful exits of T-Venture

E-Commerce solution 1998: IPO

@motion Wireless internet access

2000: trade sale to Openwave (formerly: phone.com)

Web conference provider

2000: IPO

Internet payment services 2010: trade sale to Deutsche Telekom

Online Flight Search and Bookings 2010: trade sale to KAYAK

Optical Networking Applications 2010: trade sale to Cisco

Fabless Semiconductors 2010: trade sale to Broadcom

Real-Time Collaboration Software 2011: trade sale to Citrix

Search Portal for Discount Offers of Local Retailers

2011: trade sale to Axel Springer

Wireless Access Technology 2012: trade sale to Ericsson

"On-Demand" E-Commerce 2012: IPO

Wireless Systems for Home Networks 2012: IPO

Security Solution for Mobile Enterprise Devices

2012: trade sale to Rapid7

Mass calling service 2002: trade sale to Deutsche Telekom

Femtocell Technology 2013: trade sale to Cisco

Customer experience management solution. 2009: trade sale to Tektronix

Communications Mobile messaging solutions

2008: trade sale to Nokia Web based calling company

2010: trade sale to Telefonica End-to-end wireless internet solution

2008: trade sale to Microsoft

E-Commerce 2006: shares sold to

Holtzbrinck + Weltbild Multimedia core solutions

2007: IPO

Core networking infrastructure provider. 2008: trade sale to

Nokia Siemens Networks

Social P2P media networking platform 2006: trade sale to

Sony Pictures Entertainment

M-commerce infrastructure solution

2006: trade sale to Amdocs

Mobile broadband 2005: trade sale to

QUALCOMM

Transit application 2013: trade sale to Apple

Multi-platform productivity solution 2013: trade sale to Sequoia

Mobile advertising 2014: trade sale to Opera Software

7

1st$Ques(on:$$$What$a/racts$buyers?$

You$are$the$ho/est$company$out$there.$

9

$$You$are$THE$hardest$compe(tor$….$or$THE$best$fit$

10

you$close$an$innova(on$gap$for$a$market$leader$

11 You$grow$all$your$KPIs$in$all$areas$of$business$

12 you$have$the$best$skills$in$an$industry$segment.$

13

2nd$Ques(on:$$$$$How$to$ini(ate$an$Exit?$

14

$$$$You$shop$your$company$around…$or$on$eBay$

15

You$get$approached$with$an$$offer$due$to$your$leading$posi(on$$

16

You$know$the$poten(al$buyer$for$a$long$(me.$

17

You$are$recommended$by$someone$with$knowledge$of$buyer‘s$inten(on.$

18

3rd$Ques(on:$$$What$are$your$tasks$to$execute?$

19

Find$advisors:$$Legal$for$protec(on$$Q$$M&A$for$pricing$&$process$

20

focus$on$transac(on:$$have$a$strong$2nd$(er$team$Q$$Exit$takes$3Q6$months$(me.$

21

Shareholder$takes$as$much$(me$as$Buyers$

22

Keep$data$room$upQtoQdate.$All$the$(me$Q$you$have$no$(me$when$needed$

23

$$$$$Final$thoughts:$$$$What$you$need$to$know?$

24

You$will$separate$from$your$investors$–$keep$it$in$mind.$

25 Equity$was$most$valuable$asset$$Q$now$its$(me.$

26

All$shareholders$must$be$“all$in”$to$get$a$deal.$

27

Breakup$could$happen$–$so$be$prepared.$

28

Have$enough$run(me$for$your$exit$road.$$

T-Venture Portfolio contains currently 100 companies. Two Funds managed for Deutsche Telekom AG

Thomas Grota – Investment Director T-Venture Holding GmbH – @thomasgr

Selected successful exits of T-Venture

E-Commerce solution 1998: IPO

@motion Wireless internet access

2000: trade sale to Openwave (formerly: phone.com)

Web conference provider

2000: IPO

Internet payment services 2010: trade sale to Deutsche Telekom

Online Flight Search and Bookings 2010: trade sale to KAYAK

Optical Networking Applications 2010: trade sale to Cisco

Fabless Semiconductors 2010: trade sale to Broadcom

Real-Time Collaboration Software 2011: trade sale to Citrix

Search Portal for Discount Offers of Local Retailers

2011: trade sale to Axel Springer

Wireless Access Technology 2012: trade sale to Ericsson

"On-Demand" E-Commerce 2012: IPO

Wireless Systems for Home Networks 2012: IPO

Security Solution for Mobile Enterprise Devices

2012: trade sale to Rapid7

Mass calling service 2002: trade sale to Deutsche Telekom

Femtocell Technology 2013: trade sale to Cisco

Customer experience management solution. 2009: trade sale to Tektronix

Communications Mobile messaging solutions

2008: trade sale to Nokia Web based calling company

2010: trade sale to Telefonica End-to-end wireless internet solution

2008: trade sale to Microsoft

E-Commerce 2006: shares sold to

Holtzbrinck + Weltbild Multimedia core solutions

2007: IPO

Core networking infrastructure provider. 2008: trade sale to

Nokia Siemens Networks

Social P2P media networking platform 2006: trade sale to

Sony Pictures Entertainment

M-commerce infrastructure solution

2006: trade sale to Amdocs

Mobile broadband 2005: trade sale to

QUALCOMM

Transit application 2013: trade sale to Apple

Multi-platform productivity solution 2013: trade sale to Sequoia

Mobile advertising 2014: trade sale to Opera Software