Held in conjunction with the 23rd Annual Venture Capital Investing Conference June 19 & 20, 2012, St. Regis Hotel San Francisco, CA
11:00 – 11:30 AM
| CONFERENCE REGISTRATION & NETWORKING
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11:30 –12:45 PM
| WELCOME LUNCHEON RECEPTION & KEYNOTE FIRESIDE CHAT
Hosted By: U.S. Trust, Bank of America Private Wealth Management
IBF Conference Welcome
Alexandra Scott
CEO
IBF International Business Forum
Special Fireside Chat Introduction By:
Marc Compton
Senior Vice President
Market Executive
U.S. Trust, Bank of America Private Wealth Management
-Keynote Fireside Chat-
"Sparking a Revolution in Venture Capital: A Conversation with Steve Case"
Steve Case
Chairman and CEO, Revolution Partners
Co-Founder, America Online
Chairman, The Case Foundation
Steve Case is one of America’s best-known and most accomplished entrepreneurs and philanthropists, and a pioneer in making the Internet part of everyday life.
Steve co-founded America Online (AOL) in 1985, when the Internet was in its infancy. Under Steve’s leadership as Chairman and CEO, AOL became the world’s largest and most valuable Internet company. AOL helped drive the worldwide adoption of a medium that has transformed business and society. AOL’s early focus on ease of use and social media set the stage for its rapid growth, and at its peak nearly half of Internet users in the United States used AOL. In 1992, AOL became the first Internet company to go public, and was the best performing stock of the 1990s, with a 11,616% return. At the peak of the Internet boom, Steve negotiated what remains the largest merger in business history, bringing together AOL and Time Warner in a transaction that gave AOL shareholders a majority stake in the combined company. To facilitate the merger, Steve agreed to step down as CEO when the merger closed in 2001. He served as Chairman of the Board of the combined company (then known as AOL Time Warner) until 2003.
Steve then went back to his entrepreneurial roots, and in recent years has partnered with more than a dozen entrepreneurs as an investor and mentor. Steve created Revolution in 2005 to oversee his rapidly expanding investments. Revolution now has four divisions: Revolution Growth, which invests in high-growth consumer companies (including Zipcar, LivingSocial, and Exclusive Resorts); Revolution Ventures, which backs early-stage technology companies (including Vinfolio, Snagfilms, and UberMedia); Revolution Health, which invests in health and wellness businesses (including SparkPeople, Extend Health and Brainscope); and Revolution Places, which develops real estate and hospitality businesses (including Grove Farm and Maui Land & Pineapple in Hawaii, Cacique in Costa Rica, and Miraval in Arizona). The success of AOL, coupled with Steve’s post-AOL track record building businesses through Revolution, led CNBC to call Steve “one of the nation’s greatest entrepreneurs.”
Interviewed By:
Ari Levy
Technology Reporter
Bloomberg News
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12:45 – 1:00 PM
| LUNCHEON COFFEE BREAK & NETWORKING
Hosted By: U.S. Trust, Bank of America Private Wealth Management
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1:00 – 1:45 PM
| BREAKING NEWS ON VENTURE CAPITAL:
REPORTS OF MY DEATH ARE GREATLY EXAGGERATED
Why one should not use a rear-view mirror in viewing venture capital performance going forward. What is driving the future of venture capital that makes it a valid asset class and more promising than ever.
Panel Chairman:
Charles Froland
CEO and Chief Investment Officer
Performance Equity Management, LLC
Anita Ng
Senior Consultant
Cambridge Associates
Frank Foster
General Partner
Gideon Hixon Fund
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1:45 – 2:00 PM
| SPECIAL PRESENTATION: THE WISDOM OF CROWDS – A PARABLE
Jim Anderson
President and COO
Xpert Financial
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2:00 – 2:45 PM
| ROLES OF MICRO VC FUNDS
• Early stage performance substantiates the early stage venture capital investing model
• Less portfolio companies for the VC firm to manage and build
Panelists:
Ilya Nykin
Managing Director
Prolog Ventures
Stephanie Palmeri
Senior Associate
SoftTech VC
Chris Douvos
Managing Director
Venture Investment Associates
Dave McClure
Founding Partners
500 Startups
Craig Jacoby
Chair, Emerging Companies Group
Cooley LLP
Moderator:
Jeff Kuhn
Managing Partner
FLG Partners
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2:45 – 3:15 PM
| AFTERNOON NETWORKING & REFRESHMENT BREAK
Hosted By: ArchPoint Partners
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3:15 – 5:30 PM
| CONCURRENT TRACKS
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| VENTURE CAPITAL INVESTING (TRACK 1) | FAMILY OFFICE SYMPOSIUM (TRACK 2) |
-TRACK ONE-
Session A: 3:15 – 4:00 pm
VENTURE’S RESPONSE TO ENTREPRENEURIAL NEEDS
• The new science: how has VC been redefined to
support start-ups
• Adding strategic value: leveraging incubators to
accelerate growth
• VC preferences: stage, sector, geography
• Scalable, sustainable models supporting
entrepreneurs
• Technical recruiting: VC firm approaches to
secure top talent for portfolio companies
Rob Coneybeer
Managing Director
Shasta Ventures
Rick Lewis
General Partner
U.S. Venture Partners
Beth Cahill, CFA
Investment Banking
innoveas, AG
Rick Bolander
Managing Director & Co-Founder
Gabriel Venture Partners
Moderator:
Gale Richards
Partner, Medical Device Practice, Healthcare IT Practice
BioQuest
| -TRACK TWO-
Session A: 3:15 – 4:00 pm
BEST PRACTICES FOR FAMILY OFFICES IN MAKING DIRECT VC INVESTMENTS
Angel investing can offer the promise of superior returns, but also carries levels of risk and complexity that family offices often underestimate. Developing a diligent, repeatable process for making new investments and supporting your portfolio can improve your odds of success.
Symposium Chair & Moderator:
Pascal N. Levensohn
CEO and Co-Founder
Generation Strategic Advisors LLC
Thomas T. Groos
Partner
City Light Capital
Allan May
Chairman
Angel Capital Education Foundation
Stuart Davidson
Managing Partner
Labrador Ventures
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Session A: 4:00 – 4:45 pm
PREDICTING THE NEXT GAME CHANGER:
KILLER TECHNOLOGIES, BUSINESS MODELS
& APPLICATIONS COMING DOWN THE PIKE
• Identifying technology trends set to ignite the next
phase
• Market forces: digital media services, applications
and platforms
• The winning recipe: strategy + technology + funding
to support emerging business models
• Valuations: determining the reality behind the hype
Peter Lee, Senior Associate, Bessemer Venture Partners
Brian O’Malley, General Partner, Battery Ventures
Shawn Carolan, Managing Director, Menlo Ventures
Moderator:
Martin Pichinson
Co-Founder & Co-Managing Member
Sherwood Partners
| Session B: 4:00 – 4:45 PM
IMPACT INVESTING:
PRIVATE INVESTMENTS AND THE DOUBLE BOTTOM LINE
How is private capital being deployed to venture capital & private equity for financial return and the social good
Moderator:
Holden Lee
Senior Investment Consultant
Cambridge Associates
Ira Ehrenpreis, General Partner, Technology Partners
|
-TRACK ONE-
Session A: 4:45 – 5:30 pm
HARVESTING HOME RUNS: SEED STAGE INVESTING IN 2012
How has the last 12 months shaped seed investing
The ‘value added’ services offered by today’s
seed investors and how they impact the growth of a start-up
Panelists:
Chris Farmer, Venture Partner, General Catalyst
Dave Whorton, Founder, Tugboat Ventures
Duncan Davidson, General Partner, Bullpen Capital
Lars Leckie, Managing Director, Hummer Winblad
Moderator:
Roger Anderson
Managing Partner, Medical Device Practice
BioQuest
| -TRACK TWO-
Session B: 4:45 – 5:30 PM
FAMILY OFFICES AS LIMITED PARTNERS
Perspectives and lessons from seasoned limited partners
How do we manage our pe/vc portfolio in light of Asset Allocation
Chair & Moderator:
Nicole Belytschko, Director, Private Equity,
CM Capital Advisors
Jenny Chen, Vice President,
Oak Hill Investment Management, L.P.
Carolyn Choi, Managing Director, Private Capital
Sterling Stamos
Brent Whisenant, Managing Director, Medley Partners
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5:30– 7:00 PM EVENING COCKTAIL RECEPTION FOR ALL ATTENDEES
Hosted By: FLG Partners
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DAY TWO – WEDNESDAY, JUNE 20, 2012
23rd Annual
Venture Capital Investing Conference
June 19-20, 2012 | The St. Regis Hotel, San Francisco, CA
7:30 – 8:20 AM
| Continental Breakfast and Conference Registration
|
8:20 – 8:30 AM
| IBF Conference Welcome
Alexandra Scott
Chief Executive Officer
IBF - International Business Forum
|
8:30 – 9:00 AM
| Chairman Opening Remarks
Dixon Doll
Co-Founder and General Partner
DCM
Special Introduction By:
Marc Compton
Senior Vice President
Market Executive
U.S. Trust, Bank of America Private Wealth Management
|
9:00 – 9:30 AM
| Special Achievement Award Ceremony
-THE RISING STAR-
2012 Special Achievement Award Recipient
Peter Fenton
General Partner
Benchmark Capital
Peter Fenton joined Benchmark Capital in 2006 after spending seven years as a partner with Accel Partners. His current investments include: Twitter, Yelp, DotCloud, EngineYard, Hortonworks, Lithium, New Relic, Pentaho, Polyvore, Terracotta, Zendesk and Zuora.
Forbes recognized Peter as the ‘most proactive dealmaker’ on their prestigious Midas List and ranked him #4 in 2011. Regarded by his peers as a rising star, Peter’s notable accomplishments include selling SpringSource to VMWare and FriendFeed to Facebook all within a period of 24 hours and backing Twitter when it was a 25-person company.
Peter’s prior investments include: Coremetrics (acquired by IBM), FriendFeed (acquired by Facebook), JBoss (acquired by RedHat), Reactivity (acquired by Cisco), SpringSource (acquired by VMWare), Wily Technology (acquired by CA), Xensource (acquired by Citrix), and Zimbra (acquired by Yahoo!).
About the IBF Special Achievement Award
This honor is extended by IBF to investors who, during their lifetime and career, have made creative contributions of outstanding significance to venture capital industry. Others who have been honored by this award include the following distinguished venture capitalists: David Morgenthaler, John Mumford, Reid Dennis, William Draper, Richard Kramlich and Jim Breyer.
|
9:30 – 10:30 AM
| Promises, Promises:
What Will VCs Do Different Given the
Ten-Year Lack of Performance Returns
• The pendulum keeps swinging: VC will continue to support rapid strides in innovation
• Connecting Silicon Valley innovation with China's booming tech market: A global approach for investing in China
• How U.S. private equity & VC investors can generate returns from China's growth
• How U.S. private equity & VC investors can capitalize on China's next export...venture capital
• Ripple effect: Downsizing of the industry
• Avoiding the rearview mirror: Focusing on the future, not the past
• Money on the sidelines: Deploying dry powder
• Venture risk management: New rules for investing
• The shifting landscape: Significant economic, political, market and competitive
dynamics shaping VC investment strategies
• Word on the street: Changes being made by the “new guard” of VC
Panelists:
Scott Sandell
General Partner
New Enterprise Associates
Navin Chaddha
Managing Director
Mayfield Fund
Peter Fenton
General Partner
Benchmark Capital
Ryan Sweeney
General Partner
Accel
Lip-Bu Tan
Chairman
Walden International
Moderator:
Craig Dauchy
Chair, Venture Capital Group
Cooley LLP
|
10:30 – 11:00 AM
| Morning Networking & Refreshment Break
Hosted by: Walden International
|
11:00 – 11:45 AM
| Decision Point: Asset Allocation & Venture Capital (LPs)
A radical shift has changed the alternative asset class investors’ view on the venture capital industry. A new era of fund managers are re-inventing the industry and investors are reassessing the allocation method they once used.
• Are LPs reducing or increasing their allocations to VC
• LP skepticism regarding the future performance of VC as a class - thoughts and
perspectives
• The mechanics that go into investing in the VC asset class
• The impact of VCs raising smaller funds—will larger institutions be inclined to
invest
• How early stage VCs can raise LP confidence levels
• Are limited partners scaling to invest in early stage funds
• Are LPs entertaining first time funds and how high is the bar: can VCs
demonstrate experience, discipline, market opportunities to get over the hurdle
• Global Venture Capital: Does the geographical dispersion of VC investments
make a difference to LPs
• What do VCs find exciting - where are the emerging markets showing promise
Panelists:
Bob Grady
Chairman, State of New Jersey Pension Fund
Partner, Cheyenne Capital Fund
Malcolm C. Goepfert, CFA
Director of Investments
The James Irvine Foundation
Amanda Outerbridge
Principal
HarbourVest
Bret Jepsen
Principal
Northgate
Moderator:
Seth Blackman
Principal
Rothstein Kass
|
11:45 – 12:30 PM
| Limited Partners: WorldClass Session on VC Fund Raising
• Rethinking returns: what can LPs expect in the next 12-18 months
• Reducing fees/terms – will it happen?
• Quantifying investment risk
• Sector focus
• Early, mid or later stage investing preferences
• Risk, volatility, and performance expectations
Jessica Archibald
Principal
Top Tier Capital Partners
Robert “Mac” Hofeditz
Partner
Probitas Partners
Nicole Belytschko
Director
CM Capital
Moderator:
Steve Menna
Principal
Rothstein Kass
|
12:30 – 1:00 PM
| Special Presentation:
What Makes A Top Positioned U.S. VC Firm Successful?
Steven Yang
Executive Director
Adveq Management
|
1:00– 2:00 PM
| Luncheon Reception
Hosted by: Cooley LLP
|
2:00– 2:45 PM
| The Revival of the IPO: Forecasts For The Improved Liquidity Landscape
Panelists will discuss traditional and non-traditional methods used to complete an initial public offering in today’s market. They will address issues that apply to companies ranging from those that achieve exciting early market traction, but lack true IPO-quality maturity, to those that demonstrate evidence of financial success.
• Preparing for the IPO: New criteria
• New listing requirements, dual listings
• Getting analyst tracking and exposure
• Post lock-up period retention
• The non-traditional IPO
• Where to go public
• M&A Developments and Forecasts
Panelists:
Scott Cutler
Executive Vice President and
Co-Head of U.S. Listings and Cash Execution
NYSE
Sandy Miller
General Partner
Institutional Venture Partners (IVP)
Josh Tanzer
Managing Director
Head of Private Growth Equity
Houlihan Lokey
Eric Jensen
Partner
Cooley LLP
Moderator:
Kate Mitchell
Co-Founder & General Partner
Scale Venture Partners
|
2:45 – 3:30 PM
| Venture Capital’s Solutions To The Talent Crunch:
Ensuring Portfolio Company Success Through Strategic Recruiting Efforts
- VC firm strategy: The trend to bring in recruiters
- The engineering pool: Sourcing technical talent in today’s market
- Unlocking potential: Innovation partnerships to bridge the talent gap
Jason Green
General Partner
Emergence Capital
Venky Ganesan
Managing Director
Globespan Capital Partners
Charlie O'Donnell
General Partner
Brooklyn Bridge Ventures
Moderator:
Jeff Kuhn
Managing Partner
FLG Partners
|
3:30 – 4:00 PM
| Afternoon Networking & Refreshment Break
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4:00 – 4:45 PM
| Concurrent Sessions
Session A:
The Evolution of the Early Stage Ecosystem
How early stage venture investing has evolved, with the increased number of seed VC firms and the corresponding seed efforts by the larger VC firms
Panelists:
Saar Gur
General Partner
Charles River Ventures
Kirsten Green
Managing Partner
Forerunner Ventures
Rob Hayes
Managing Partner
First Round Capital
Charles Hudson
General Partner
SoftTechVC
Moderator:
Michael Kim
Managing Partner
Cendana Capital
Session B:
Later Stage Investing:
Preparing Growth Companies For Expansion & Competitive Advantage
• Overcoming the toughest milestone: Getting companies to the next round
• Capital acquisition strategies for future round and creative financing approaches
• The GP report card: How GPs can sustain LP confidence
• Strategies to ensure success: Growing start-ups to become market leaders
• Managing leadership expectations: Tackling CEO transition
• Portfolio company brand positioning
• Valuations: Standards and consistencies in later stage deals
Panelists:
Rory O’Driscoll
General Partner
Scale Venture Partners
Zubeen Shroff
Managing Partner
Galen Associates
Georganne Perkins
Managing Director
Fisher Lynch Capital
Jai Das
Managing Director
SAP Ventures
Moderator:
Derek Dowsett
Partner
Moss Adams LLP
|
4:45 – 5:30 PM
| Concurrent Sessions
Session A:
Globalization: How are VCs Capitalizing on O-US Opportunities?
Venture capital firms are actively organizing their businesses and portfolio companies to capture global opportunities. Globalization is no longer a matter of choice as portfolio companies and VCs must capitalize on the global markets to remain relevant.
• Should U.S. VCs continue to tackle emerging markets
• The imperative to globalize portfolio companies
• Recruiting talent overseas: Strategies to expand teams O-US
• Emerging markets: Finding alpha in today’s global VC/PE market
• How to assess the benefits and challenges of investing direct or through funds in the international landscape, including “frontier” countries.
• What’s driving the globalization of venture capital
• Where is venture now in EM and where is it headed
• The emerging markets model of venture capital different from that of the US
Panelists:
Gavin Wilson
CEO
IFC Asset Management Company
Hany Nada
General Partner
GGV Capital
Claus Schmidt
Managing Director
Robert Bosch Venture Capital
Jennifer Choi
Vice President, Industry and External Affairs
Emerging Markets Private Equity Association (EMPEA)
Mark Medearis
Partner
Cooley LLP
Moderator:
Jason Krikorian
General Partner
DCM
Session B:
The Big Picture: Market Trends Shaping Secondary Market Deals
• Why the growth in capital to secondaries
• Is this temporary or permanent as the base grows
• Who are the players and how to organize/classify them
Panelists:
Dan Burstein
Managing Partner
Millennium Technology Value Partners
Hans Swildens
Founder & Managing Director
Industry Ventures
Zack Scott
Director
Saints Capital
Greg Brogger
Founder and President
SharesPost
Moderator:
Don Sechler
Vice President
Pantheon Ventures
|
5:30 – 7:00 PM
| Cocktail Reception
Hosted by: Rothstein Kass
|
