Funding Strategies: Engaging in the "Adventure" of Venture Capital
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Engaging in the "Adventure" of Venture Capital
Listen to the Podcast
Please join us for this stimulating dinner event THURSDAY, March 29, 2007 sponsored by:
Keiretsu Forum
Join the MIT Enterprise Forum of the Northwest as we take a unique inside look into the challenging and exhilarating experience of financing start-ups and emerging technology businesses in today's market.
Tremendous amounts of capital are available for investment in young companies. In the last 24 months, for instance, we have seen two of the largest funds raised ever. Entrepreneurs can access capital from venture firms and angle investors, but also from hedge funds and private equity firms. Each source of capital presents potential benefits and potential risks to the entrepreneur raising money.
On Thursday, March 29, 2007 New York-based moderator Ed Zimmerman, Lowenstein Sandler will guide a discussion with panelists Brent Whisenant, The Carlyle Group - San Francisco; serial entrepreneur Bill Bryant; Bill McAleer, Voyager Capital; and Diaz Nesamoney, founder of Informatica and Celequest - San Francisco, to explore:
SS The stage of development at which a company should seek institutional investors and what red flags to look for
SS How has the reduction in average company capital requirements changed the way VC firms make investments, and the way entrepreneurs raise early capital
SS Which investors will be more amenable to a relatively earlier exit (at a relatively smaller return) to a strategic buyer
SS How the weak IPO market impacts investment decisions
SS How strategic buyers in the M&A market impact the venture financing process
Dinner Program Biographies
Moderator
Ed Zimmerman, Lowenstein Sandler
Edward M. Zimmerman chairs the Tech Group at Lowenstein Sandler, a 260 lawyer firm based in NYC and NJ. Mr. Zimmerman is an Adjunct Professor of Finance and Economics at Columbia University Business School where he is currently teaching Venture Capital to MBA candidates. Mr. Zimmerman founded and Co-Chairs AngelVineVC, a leading East Coast-based angel and venture investor network with more than 30 venture funds participating (www.angelvineVC.com); he is also an active angel investor. Mr. Zimmerman chairs the investor rights committee of the National Venture Capital Association's Working Group on Model Legal Document, a select team of venture lawyers responsible for revising the industry standard venture capital transaction documents. Mr. Zimmerman is listed among The Best Lawyers in America (2006-2007 edition) in both the M&A and buyouts/private equity categories. Mr. Zimmerman was also ranked one of the top ten Corporate and M&A lawyers in New Jersey by the Chambers USA Guide to America's Leading Business Lawyers in the 2004, 2005 and 2006 editions and has been named to three "40 Under 40" lists. In 2005, Mr. Zimmerman represented a NY-based tech company in a venture round which Dow Jones' VentureWire Alert described as "one of the largest single venture capital investments of [2005]." Mr. Zimmerman's clients include Charles River Ventures, Bessemer Venture Partners, Insight Partners, Atlas Ventures, Princeton University, Sandoz, Datran Media, Updata Venture Partners, and LLR Partners. Mr. Zimmerman is also very involved in community and professional organizations and currently chairs several charity and professional boards, including Hoop-A-Paluza, Inc. (www.hoopapaluza.org), which he founded and based on which, Mr. Zimmerman and his wife were profiled in the Star-Ledger, as well as the Saint Barnabas Medical Center Foundation, and others. Additionally, Mr. Zimmerman hosts Radio Uncorked, a radio show about wine, produced by Infinity Broadcasting and aired on KYCY 1550 AM in San Francisco, Napa & Sonoma, as well as by podcast at www.kyouradio.com. Mr. Zimmerman received his law degree from U of Penn and his undergraduate degree from Haverford College (Phi Beta Kappa).
Panelists
Brent Whisenant, The Carlyle Group
R. Brent Whisenant is a Managing Director focused on U.S. venture and growth capital opportunities in business services, applied technology and software. He is based in San Francisco. Prior to joining Carlyle, Mr. Whisenant worked in investment banking at Robertson Stephens & Company in San Francisco, practiced law with the firm of Cravath, Swaine & Moore in New York City and practiced with Price Waterhouse as a CPA. Mr. Whisenant also worked as vice president of Corporate Development with Campus Pipeline (acquired by SCT Corporation). Mr. Whisenant received his J.D. from Columbia Law School, where he was a Harlan Fiske Stone Scholar, and his B.S. from Brigham Young University. Mr. Whisenant is a member on the Board of Directors of DHS Technologies, Mainstream Data, USBX and the Grant Street Group and is a formal observer on the Board of Directors of Liquid Engines, Inc.
Diaz Nesamoney, Celequest
As President and CEO, Diaz Nesamoney brings over 15 years of experience in the enterprise software industry to Celequest. Prior to founding Celequest, Mr. Nesamoney was president and chief operating officer at Informatica Corporation where he was responsible for all company operations, including product development, sales and marketing. After co-founding the company in 1993, Mr. Nesamoney played a key role in helping Informatica successfully grow from a young startup, with its first product release in 1996, to a $200M public company and market leader by the year 2001. Prior to Informatica, Mr. Nesamoney was responsible for data management products at Unisys, a $5 billion information technology solutions and services company operating in 100 countries. Mr. Nesamoney holds a masters degree in computer science from Birla Institute of Technology and Science.
Bill Bryant
William K. (Bill) Bryant has had early and instrumental involvement in over twenty leading software and Internet companies, serving in various positions including as founder, senior executive, investor and Board Member. Most recently Mr. Bryant founded Mixxer, a market leader in the consumer mobile entertainment and community sector. As CEO, Mr. Bryant drove definition of the core product and market strategy; raised $20 million in venture capital, acquired two companies; recruited a senior management team; and rebranded, repositioned and re-launched the service. Concurrent with founding Mixxer, Mr. Bryant co-founded Medio Systems, a highly visible venture-backed leader in the mobile search space. He continues as a Strategic Advisor to Medio. Other current involvements include serving as Executive Chairman of QL2.com and as a Board Member for ACL Services and Pluggd, where he was a founding investor. Previously, Mr. Bryant was a Partner with Atlas Venture, a large international venture capital firm with $2.5B under management, where he originated an investment in Isilon Systems. Prior to Atlas, Mr. Bryant was a co-founder of Qpass, serving as CEO and later Chairman. In the mid 1990s, he co-founded Netbot, Inc, serving as its President prior to its acquisition by Excite@Home. He started his career as founding VP of WW Sales & Marketing for Visio. Other companies reaching liquidity that Mr. Bryant was materially involved with include Loudeye, Singingfish, Viafone, Throw, Exstatic Software, Teamplate and Web Relevance. Over his career, he has raised over $150M in venture capital, has invested in over 15 venture funds, and has been an angel investor in a dozen startups.
Bill McAleer, Voyager Capital
Bill McAleer brings to Voyager over 30 years of business experience and 18 years of senior executive and equity financing experience in the information technology industry. Mr. McAleer has participated on the boards of 17 companies, including 12 portfolio companies, focusing on business software and services, digital media, and wireless. Seven portfolio companies, Amplitude, Clear Commerce, Kadiri, Netpodium, SeeCommerce, Valchemy and Tegic, were sold for exits, and Mr. McAleer currently serves on the boards of Attenex and Melodeo. He also sits on the board of Avocent (NASDAQ: AVCT), a public technology company with over $500 million in revenues. Prior to co-founding Voyager in 1997, Mr. McAleer was President of e.liance Partners, a consulting firm that advised information technology companies on strategy, venture financing and corporate partnering. He served as Vice President of Finance, Chief Financial Officer and Secretary of Aldus from 1988 to 1994, when the company's revenues grew from $39 to $240 million. Mr. McAleer was responsible for global finance, legal, operations, and acquisition activities, including completing the merger with Adobe in 1994. He also served as a senior executive with Westin Hotels from 1979 to 1987. Mr. McAleer earned a B.S. and an M.B.A. from Cornell University.
