Download - AnnualMeeting
Where connections spark growth.
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Where connections spark growth.
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Agenda
VC Industry Trends
Fund I Performance Review
Cintrifuse Fund of Funds Overview
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2013 VC Industry Trends
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2013 Venture Industry Overview
• Total VC Capital Invested increased but Deal Flow fell slightly in 2013.
• VCs invested $34 Billion in 2013 - the 3rd Highest Level in 10 years.
• Overall Deal Flow dipped by 15% from 2012 to 2013.
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013$0
$5
$10
$15
$20
$25
$30
$35
$40
$45
0
1,000
2,000
3,000
4,000
5,000
6,000
$1
9.7
$2
2.6
$2
5.0
$3
1.4
$3
3.2
$2
3.0
$2
6.9
$3
8.4
$3
4.1
$3
4.0
2,0492,344
2,532
3,2333,459
3,037
3,579
4,4314,804
4,067
Capital Invested ($B) # of Deals Closed
U.S. VC Deal Flow
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U.S. VC Deals by Stage
• Investments by Stage have Evolved Over Time as Focus on Seed Stage has Increased.• Early Stage Financings fell from 59% of VC Deal Flow in 2005 to 44% in 2013.
• Angel/Seed Financings increased from 5% to 27% of Total Deal Flow in the same period.
• Angel/Seed Financings accounted for $9.2B of the overall $34B in VC financing in 2013.
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Seed/Angel Early Stage Late Stage
U.S. VC Deals by Stage
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VC Investments by Sector• The healthcare share of total venture capital investments was 19%—
the lowest proportion since 2001.• Hopeful uptick in exits and fundings in Q4 2013.
2004
2009
2013
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
31%
32%
38%
21%
10%
6%
9%
9%
13%
24%
25%
19%
2%
5%
3%
14%
20%
21%
Software Non-Software IT Commercial Services Healthcare Energy Other
US VC Deals by Sector
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Cintrifuse Early Stage Venture Capital Fund I, LLC
Performance Review
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Current Investors
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Fund I Highlights
• Total of $450M in Capital Under Management
• 44 companies
• ~150% average portfolio growth
Underlying Funds
• $51.1 million in committed capital
• 4 funds under management
• 8% called
• ~ One new fund per quarter
• Focus on early stage venture…
• …In technology, life sciences, consumer, energy
Cintrifuse Fund I
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Underlying Funds
Location: Cincinnati, OH Stage: Series A/B Investment focus: B2B Software,
Medical Devices
Location: Los Angeles, CA Stage: Seed/Series A/B Investment focus: Software,
Distribution, Financial Services, Digital Media
Location: Boston, MA Stage: Seed/Series A/B Investment Focus: SaaS, Cloud,
Mobile,, Technology-enabled service, Digital Media
Location: Houston, TX Stage: Seed/Series A Investment Focus: Software,
Ecommerce, Bioscience, Manufacturing, Energy
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Fund Summary$ Millions
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Portfolio Distribution
$ AmountG
eogra
ph
yIn
du
stry
# of Companies
Consumer 13%
Technology
83%
Life Sciences
5%
Consumer 11%
Technology
80%
Life Sciences
9%
West41%
South18%
Northeast20%
Midwest20%
West53%
South4%
Northeast32%
Midwest11%
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Growing Activity with VCs
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Cintrifuse Fund of Funds Overview
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To create a global destination
where entrepreneurs’ dreams are
realized.
For the Fund:
Build an Effective Early Stage
Venture Network
Mission
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Attract, Engage, Invest
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VCs Corporations
STARTUPS
Innovation
CustomerDea
l Flo
w
Funding
Deal Flow
Due Diligence
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Timeline
Q113
Q213
Q313
Q413
Q114
$40M First Close
$11M 2nd Close
Sarah Anderson
Joins
Acquired
2013 was a year of foundation building
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Ripple Effect
Seed Early LateEngaging with more than 200 Funds
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Engagement ScorecardACTIVITY DESCRIPTION
Dealflow to Members
Number of companies brought to Strategic LPs aligned with interests. Potential for relationships such as beta test, customer, joint venture or investor.
Advisory Boards/Mentorships
Participation in mentoring, advisory and committee roles for a) LPs, b) startups, c) research organizations, and d) industry/corporations.
Events Participation, sponsoring and contributing thought leadership throughout the year in events such as annual conference, Demo Day, Office Hours, etc.
Education/Curriculum
Introduce content and programs for delivering education for startups and entrepreneurs.
Media Engagement Social Media, Tweeting, Blogging, other press and statements about Cintrifuse
Presence Maintain a staffed office and/or partner-level activity in the region.
Direct Investment
Activity in sourcing deals from the region and other regional investors, includes startups met with, diligenced as well as actual investment.
Reporting Provide timely, accurate reports on regional activity, invested capital, jobs and other information as may be requested
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Invested Capital$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$1.0
$2.5
Outside Region Local Investments
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Economic Multiplier
Capital invested outside region = $2.74M
4 companies = $6.85M combined
Per $1 invested outside the region, $2.5 has been returned
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Goals for 2014
Close the Fund. Invest in 3 to 4 additional funds. Link the Underlying Fund portfolios more
directly with our strategic investors LEAP Innovation Days Venture Liaison Program.
Track and monitor the activity of funds
coming the region to optimize fund
performance and remain consistent with
our mission.
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Questions