Free Chapter 1 from my book “Masters of Corporate Venture Capital”

Free Chapter 1 from my book “Masters of Corporate Venture Capital”

SharePlease download Chapter 1 of my book Masters of Corporate Venture Capital – Chapter 1 – Andrew Romans and feel free to share on Linkedin, FB, Twitter, print, republish or use any way you like. Please also be invited to our events and workshops on corporate venture capital (CVC) and other VC and startup related topics. http://rubicon.vc/our-events/ Upcoming events: London, June 27, 2017 https://FamilyOfficeLondon.eventbrite.com – London family office event London, June 28, 2017 https://CVCseminar.eventbrite.com – London half day CVC seminar Paris, June 29, 2017 https://ParisCVC.eventbrite.com – Paris half day CVC seminar Tokyo, Osaka, Beijing, Shanghai, Shenzhen, Chengdu, Chongqing, Dubai and Istanbul coming this fall. Please get in touch if you want to host or sponsor a CVC or VC event with us. info@rubicon.vc Please also download a free copy of chapter 8 “Which Way to the Exit?” from my first book – THE ENTREPRENEURIAL BIBLE TO VENTURE CAPITAL: Inside Secrets from the Leaders in the Startup Game (McGraw Hill hardcover & all e-book formats) Contributors to this chapter include: • Gary Johnson, director of corporate development, Facebook • Jackie Reses, executive vice president of people and development at Yahoo! (interestingly in charge of both M&A and HR) • Parag Patel, Vice-President of Worldwide Sales, Software-Defined Storage at VMware formally VP of global strategic alliances at VMware • Dave Berkus, author and business angel • Nic Brisbourne, partner at Forward Ventures, former partner at DFJ-Esprit • Russ Fradin, CEO and cofounder of Dynamic Signal and former CEO and cofounder of Adify sold for $300m • Antoine Papiernik, partner at Sofinnova Partners • Benjamin D. Kern, partner at McGuireWoods • Additional contributions from directors of...
VCs & Entrepreneurs in China: my experience

VCs & Entrepreneurs in China: my experience

ShareWow! I had an amazing experience in China as an American VC. I made a photobucket photo file which I understand can be viewed in China. Please check it out and the captions. That’s my blog post this time – the comments / captions of the photos. Forget this blog post and check out this link here! http://s613.photobucket.com/user/Andrew_Romans/library/ China is a huge opportunity for every entrepreneur and VC. To ignore it would be insanity. They have a totally different way of thinking which works well. I look forward to working with all of you 🙂 And I look forward to helping our portfolio companies take off in China. Get my blog story here: http://s613.photobucket.com/user/Andrew_Romans/library/ Basically most of our companies should be manufacturing or making software in China. Those those that do not want to do that should probably be selling their products and services in China. I view it as my job as the VC to help our portfolio companies do both with safe partners they can trust. We are ready to be the fiber optic cable and help our companies be successful in China quickly. This is a game of speed and trust. Andrew...
Free M&A chapter from my book “Which Way to the Exit?”

Free M&A chapter from my book “Which Way to the Exit?”

ShareI’ve added this post so I could put a link to this chapter from my last book into my new book: Masters of Corporate Venture Capital, which should be available any day now. Please download a free copy of chapter 8 “Which Way to the Exit?” from my book – THE ENTREPRENEURIAL BIBLE TO VENTURE CAPITAL: Inside Secrets from the Leaders in the Startup Game (McGraw Hill 2013 hardcover & all e-book formats) Again, download this chapter HERE. Contributors to this chapter include: • Gary Johnson, director of corporate development, Facebook • Jackie Reses, executive vice president of people and development at Yahoo! (interestingly in charge of both M&A and HR) • Parag Patel, Vice-President of Worldwide Sales, Software-Defined Storage at VMware formally VP of global strategic alliances at VMware • Dave Berkus, author and business angel • Nic Brisbourne, partner at Forward Ventures, former partner at DFJ-Esprit • Russ Fradin, CEO and cofounder of Dynamic Signal and former CEO and cofounder of Adify sold for $300m • Antoine Papiernik, partner at Sofinnova Partners • Benjamin D. Kern, partner at McGuireWoods • Additional contributions from directors of corporate development from some of the most acquisitive companies in Silicon Valley I’ll start you off here with my opening to the chapter: “WHICH WAY TO THE EXIT?” “I made most of my money selling too early.” – J.P. Morgan Merger and acquisition (M&A) is the most likely positive outcome for most angel- or VC-backed technology startups and therefore worth understanding from the first moment you begin to conceive your new venture or as you move along the journey to exit. For acquirers...
Creating A Win-Win-Win Among Corporates, Startups & VCs

Creating A Win-Win-Win Among Corporates, Startups & VCs

ShareI gave a keynote address on corporate venture capital interviewed by Duncan Logan at Rocketspace’s Innovation Collective Summit today and thought it appropriate to share this article I wrote for the NVCA CVC magazine a few weeks ago. I am nearing the final stages of finishing my second book on the topic of venture capital –MASTERS OF CORPORATE VENTURE CAPITAL: Collective Wisdom from 50 VCs on How to Get Funded & the Playbook for Corporate Venturing to Access Startup Innovation, Create Winning CVCs & Avoid the Classic Mistakes (May 2016). I was partly motivated to finish this book now, because I have also been advising a large Chinese corporate on the formation of their corporate venturing program. I first organized my own ideas for a comprehensive book on the topic into 10 chapters with detailed sub-headings. I then embarked on taking over 50 meetings and phone interviews with top corporate venture capital (CVC) practitioners including Intel Capital, IBM Ventures, Qualcomm Ventures, Teléfonica Ventures and many other usual suspects both old and new to the CVC scene. To be honest, before taking any of these interviews I foolishly felt as if I could just sit down and fill in each chapter based on my own experience of being a founder that raised over $27m in CVC funding for my own venture and then a decade of being an active angel and advisor helping 20+ startups raise VC funding and then running an angel group and finally my own VC fund – Rubicon Venture Capital. What I learned from these interviews was entirely humbling and enlightening. Many of the interviews began the...
Understanding VC Target Ownership Percentages

Understanding VC Target Ownership Percentages

ShareVCs often have target ownership percentages that are driven by two things: 1) ability for each investment to return 100%, 50% or 25% of their entire VC fund and 2) a VC can only be effective on so many boards; so may as well join the board of the companies where they own a meaningful amount of equity. Many VCs have a minimum ownership percentage they target when making investments. Depending on the stage the VC invests at and their strategy it is often seeking to own at least 20% of the company when leading a Series A investment, buying 10% of the company in a Series B when the A investors want half of the B round and maybe 5% of the company when joining a syndicate of a few different investors in a Series C. Many VCs will want to take 20% regardless of stage and walk away from an A, B or C round if they can not buy at least 20% or 15% of the company at that time. In ancient times (80’s, 90’s and early 2000’s) these numbers were a bit bigger with VCs seeking to own 33% minimum and even lifting that up to 45%. With the power in recent years moving from the investor to the entrepreneur the amount a startup is willing to sell in a single round has gravitated downwards to 20% and goes up a bit to make room for many elbowing VCs trying to get in. With the macro economy cooling things off we may see startups moving back to selling a third in a single financing again...
Videos from VC / Angel Investor Workshop @ Silicon Valley Innovation Center

Videos from VC / Angel Investor Workshop @ Silicon Valley Innovation Center

ShareVideos from VC / Angel Investor Workshop @ Silicon Valley Innovation Center Click here to go to Andrew Romans’ YouTube Channel and view the videos. (Read the notes of each video to fast forward through the first 10.5 minutes of Part I. I need more time to break these into shorter videos; so feel free to skip around.) Topics covered Overview & analysis of the market from Pre-Seed, to Seed, Later Stage Seed / Seed Extension, Series, A, B, C, D to the private IPO phenomenon – understanding trends – which are crowded, overpriced, underpriced and key risk points Why investing now is more attractive than ever before What industries, sectors, company stage and geographies are best for you Convertible notes – key points and the meaning beyond the moving parts Priced equity rounds – key points and the meaning beyond the moving parts Valuation concepts on pricing valuations when investing, exiting and risk tied to perceived exit multiples Portfolio construction strategies for angels and VCs – how to allocate your capital Best practices for sourcing deal flow and conducting due diligence Tactics to get into oversubscribed deals Strategies for continuing to invest in portfolio companies a 2nd, 3rd, 4th, 5th time, etc Best practices for post investment information rights, governance, adding value and Different options to invest ranging from Angel List, to other investor platforms, angel groups, demo days, accelerators, VC funds, SPVs, tax breaks for UK, EU and Israeli taxy payers Different options to get liquidity on the secondary market before definitive liquidity event for startup / how to sell some stock before the final exit Questions & Answers from an audience of...