Successful Funding Strategies
Venture Capitalist Patrick Ennis of Arch Venture Partners and serial entrepreneur Craig Husa of GalleryPlayer will share their experiences on successful funding strategies and key aspects of the fundraising process. GalleryPlayer closed a $4M round with Menlo Ventures this past July.
Capital is the fuel that enables a new company to get off the ground and an existing company to reach new heights. One key to any successful business start-up and expansion is the ability to secure appropriate financing. The process of raising capital can be complex, drawn-out, and often times frustrating. However, armed with the right information and an effective capital-raising plan, entrepreneurs can navigate the process in a timely and successful fashion.
This seminar will explore the various aspects of the capital raising process, including: <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
- Current state of VC funding and key funding issues from a VC's perspective
- Identifying the most appropriate funding sources and how to best approach and win them over
- Allocating the necessary time and company resources to the process
- Shepherding potential investors through the due diligence of the company
- Managing the negotiation process to a successful close
Topics of discussion will also include: valuation issues and the effects of today's market conditions, deal structure and current investor requirements, creative and alternative ways to fund a business, and the after-effects of the fund-raising process and its impact on future business.
Patrick Ennis, General Partner, Arch Venture Partners
Patrick Ennis is a Managing Director with ARCH Venture Partners and is based in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /?>
Seattle. He specializes in startups involving interdisciplinary technology. These areas include software, communications, materials science and semiconductors. Patrick currently serves on the boards of Univa, Artificial Muscle, Djinnisys, Impinj, Innovalight, Kotura and Syncronex. He is a director of the SIRTI Research Foundation and on the steering committee of the Washington Nanotechnology Initiative.
Prior to joining ARCH in 1998 as a Kauffman Fellow, Patrick held senior positions with Lucent Technologies, AT&T, and Bell Labs. These included lead roles in Product Management, Marketing and Engineering in a variety of areas including software development, network design, operations and business services. Before joining Bell Labs in 1992, Patrick conducted research in Solid State and Nuclear Physics from 1984 to 1992 at several government laboratories in the U.S. and abroad.
Patrick holds an M.B.A. from the Wharton School of Business, a Ph.D. in Physics from Yale University, and a B.S. in Mathematics from the College of William and Mary.
About ARCH:
ARCH Venture Partners has been investing in seed and early-stage technology companies for more than 18 years. ARCH manages over $1B in capital, and operates nationally with offices in Austin, Chicago, San Francisco and Seattle.
Craig Husa, President and CEO, GalleryPlayer
As president and CEO of GalleryPlayer, Craig brings twenty years experience leading and operating high-growth technology companies. Before joining GalleryPlayer, Craig was CEO of OnSitePM, a provider of distributed project and process management tools. As CEO, Craig directed the company's growth from beta stage through commercial launch and revenue.
Previously, Craig co-founded and was senior vice president of operations of CourtLink Corporation, a leading provider of electronic court record access and electronic filing systems. Craig managed CourtLink's growth from two to more than 200 employees and revenues exceeding $15M. CourtLink grew to over 30,000 organizational customers, including 230 of the 250 largest law firms in the U.S. and over 30% of the Fortune 100 list. CourtLink was acquired by LexisNexis in November 2001. Early in his career, Craig served as a U.S. Naval Officer onboard a nuclear powered submarine, where he held the rank of lieutenant. He was responsible for the operations and maintenance of the nuclear propulsion plant and supervised the nuclear trained operators and laboratory technicians.
Craig earned an M.B.A. from the Harvard Business School. Additionally, he holds an M.S. equivalent in nuclear engineering from the U.S. Naval Nuclear Power School and a B.S., with distinction, in Systems Engineering from the U.S. Naval Academy. Craig is a Commissioner for King County Fire District 27 and is an active leader with the Boy Scouts of America.
About GalleryPlayer: Founded in early 2003, GalleryPlayer delivers high definition, art and photography into residential and commercial markets via cable and satellite. The company also distributes through the Internet via Windows Media Center Edition PCs, which are computers designed to be more entertainment-focused than data-centric. The offering will be available on the Internet after Labor Day through Windows XP.
