raising venture capital an entrepreneurial gp lp perspective[提高创业投资暨gp lp企业家角度](-44).pptVIP

John Cook Executive Director – WJ Hopper Co. Limited Chairman – Thunderbird Private Equity Center Executive Advisory Board Raising Venture Capital: An Entrepreneurial GP/LP Perspective April 2 4, 2008 WJ Hopper Co. Limited Boutique Investment Bank – with global representation London, Zurich, San Francisco, Brussels Tokyo, Tel Aviv, Sao Paolo, Reykjavik Focus: International Private Placements Clients: Leading Private Equity Firms and Private Companies Investors: Institutional, Government and Private Investors John Cook: Purdue University BS; Thunderbird MBA; International Harvester, Merrill Lynch, Security Pacific Bank What are effective strategies and tactics to raise capital, both for entrepreneurs and fund managers? Vision, strategy, tactics… and lessons learned… “Raising a new fund is an event of singular strategic importance for a private equity fund. The firm’s future is, in effect, placed into the hands of institutional investors…whose capital allocation decisions…are a key influence in shaping the private equity industry. These investors will, by choosing whether or not to participate in the fund, either provide a mandate for continued growth or cast a collective vote of no confidence from which very few managers will ever recover.” Importance of Fundraising Source: “Fundamentals of Private Equity” - PEI 2008 Fundraising Ecosystem Three Layer Cake General Partners Portfolio Companies Endowments Insurance Limited Partners Governments Banks Pension Funds Foundations Family Offices Corporations A B C D H G F E Fund of Funds (USA / EUROPE / ASIA / LATAM / MIDEAST) Sovereign Wealth Funds USA / EUROPE/ ASIA/ LATAM/ MIDEAST CARLYLE GOLDMAN NEA CVC Secondaries Stakeholders $500 MM Thunderbird Private Equity Partners LPs USA LPs ASIA LPs LATAM E D C B A Legal Acct GP=Cabrera Mgt LLC Regulatory CUSTOMERS SUPPLIERS EMPLOYEES LENDERS EXIT IPO TRADE SALE Audit Advisor LPs Europe ENTREPRENEURS Fundraising Process Five