State Of European Venture Capitalmedia.voog.com/0000/0035/9563/files/1. Reshma - State of...
Transcript of State Of European Venture Capitalmedia.voog.com/0000/0035/9563/files/1. Reshma - State of...
Seedcamp is a founder’s first round fund. We invest smart capital into pre-seed
and seed stage startups, providing up to €500k and a lifelong platform of Learning, Network and Capital
to support the most ambitious Founders.
“
”
The access to capital
$450MTotal FundingRaised by companies since 2007
19%
81%
of Seedcamp backed companies raise follow-on funding
84%500 Total
investors
120 US investors
Some of the top VCs our companies are raising from
The generational effect
1990s
pre-‘90s2000s
2010s
1st generation 3rd generation
2nd generation 4th generationSupernova
Silicon Valley Pre 90’s 90’s 00’s 10’s
90’s 00’s nowadays2rd generation
In EU
Angels - exited experience
Barry SmithSkyscanner
Errol DamelinWonga
Ed Wray Betfair
Will NealeGrabyo
Jeremy YapCitymapper
Bringing together public & private capital
£25m to support London tech startups
£200m invested in 169 fast growing UK startups
Enterprise Capital Fund
behind…+
Tax benefits - unlike anywhere
Source: Commentary EIS SEIS Official Statistics, HMRC, January 2016
+58% Angel Investments 2013 vs 2012
Rapid growth
0
200
400
600
800
2011 2012-13 2013-14 2014-15
783
692
457
342
Amount Invested (million £)
+34%
+51%
+13%
Average fundraise increased to £535,615
•income tax relief •no capital gains •tax offset loss
EIS/SEIS 1994 - 2012
European grant funding
Programme Annual budget Description
HORIZON 2020 €2.8 billion For entrepreneurs, startups and SMEs
EUREJA €0.27million European network developing cooperation between SMEs, research centres and universities for industrial innovation
CREATIVE EUROPE €2.6 million Grants to support productions companies interested in developing a video game concept or project.
MARCO POLO II €60 million Grants for commercial projects that stimulate competitiveness of combined transport as against exclusively road transport
Baltic startup scene
Source: TechChill Baltics Conference 2016
Ease of doing business in Estonia Source: Worldbank
Late stage capital drop
Source: European Private Equity Activity, investeurope.com, 2015
Number of funds that reached first, intermediate or final closing during the year
0
50
100
150
200
2007 2008 2009 2010 2011 2012 2013 2014 2015
35
394646
5857
6066
69
610
91120
1718
17
27
5780
586074
6070
82100
Early-stage Later-stage Balanced
196
165148
134152
117 113129
58
Value add VCs
Ongoing involvement
Talent
Marketing
Sales
Partnerships
Operations
Networking
Hands-on approach
The Americans
Source:The State of European Tech, SLUSH & ATOMICO, Nov 2015
(SWE)
(GER)
(SWE)
(GER)
(SWE)
(GER)
(GER)
(UK)
(SWE) (UK)
(SWE)
(UK)
(UK)
VC Selected investment in Europe
(UK)
(UK)
UNHWs, family office and corporates
Non-VC participation in mid & late stage startups
12.5%
25%
37.5%
50%
2009 2010 2011 2012 2013 2014 2015
44%
35%35%31%
28%28%25%
27%
20%17%
11%13%
8%9%
Asst Mgmt / Family Office / Hedge Fund / Mutual FundCorporate / Corporate VC
CAGR 09’-14’
18%7%
Source: VC-backed, US startups that have raised $15M+ total, ex. life sciences, CBInsights, 1/1/09-4/20/15
Venture debt
Direct lending fundraising: North America vs. Europe-focused funds, 2006 - 2016 YTD
0
5
10
15
20
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD0.9
18.8
13.2
8.5
3.51.1
2.90.61.20.40.3 1.7
17.1
19.8
14.5
7
3.33.91.1
17.4
7.7
1.8
North America-Focused Funds Europe-Focused Funds Source: Private Debt Spotlight, Preqin Ltd, May 2016
(2)
Not every great company gets funded
Capital is kingHubs dominate
Mix-Match is the name of the game
The right capital partners matter
We need our GOOG, FB, Alibaba
VC is better than ever - not perfect