Venture In CT 2012?

1

Liddy Karter, Exec. Dir.

CT VC Investment Slipping

2

1. Consistently 4th in VC $ Managed

2. 2010 - 14th in VC $ invested

3. 2011 - 21st in VC $ invested

VC - 13% of Private Equity $

3

US VC $ Invested by Stage

4

3%

29%

35%

33% Seed

Early Stage

Expansion

Later Stage

Source: The MoneyTree™ Report from PricewaterhouseCoopers and the National Venture Capital Association

based on data provided by Thomson Reuters

CT 4TH In VC $ Managed In 2010

5

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

1985 1995 2005 2010

$ M

illio

ns CA(#1)

MA(#2)

NY(#3)

CT(#4)

Source: 2011 NVCA Yearbook

CT Slipping in VC $ Invested

6

$ Invested In The State

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

2010 2011

$ M

illio

ns MA(#2 in 2011)

NY (#3 in 2011)

CT(#21 in 2011)

Source: PwC/NVCA MoneyTree Report

CT Regional Lead Also Slipping

7

$ Invested In The State

$0

$50

$100

$150

$200

$250

2010 2011

$ M

illio

ns

CT

Upstate NY

Western MA

RI

Westchester County

Source: PwC/NVCA MoneyTree Report

CT 21st In VC $ Invested in 2011

8

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

1985 1995 2005 2011

$ M

illio

ns

CA(#1)

MA(#2)

NY(#3)

CT(#21)

Source: PwC/NVCA MoneyTree Report

Barely Visible VC investment

9

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

CA MA NY CT

$ M

illio

ns

$ Invested in State

$ Under Management

Sources: PwC/NVCA MoneyTree Report and 2011 NVCA Yearbook

#2 in VC $ Exported

10

$0

$500

$1,000

$1,500

$2,000

$2,500

MA CT DC MD PA NJ MI MO

$ M

illio

ns

Defined as:

($ Under Management / 6 Years) – $ Invested in State in 2011

Sources: PwC/NVCA MoneyTree Report and 2011 NVCA Yearbook

CT Increasing VC $ Managed

11

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

1985 1995 2005 2010

% o

f To

p 4

Sta

tes

(CA

, MA

, NY,

CT)

CA

MA

NY

CT

Source: 2011 NVCA Yearbook

Strategic Mission

12

1. Get more VC $ invested in CT

2. Increase VC $ managed in CT

3. Highlight VC backed successes:

• Advanced Biohealing

• Higher One

• Tangoe

The CVG mission:

“To assist

the development of

high growth enterprises

through the promotion of capital formation

in Connecticut”

Vision, Mission and Brand

– $25,000 of venture investment = 1 job

– If CT performed like MA in 2010 we would have had 18,000 additional jobs; about 11% of the unemployed in CT.

• According to Indeed.com and salary.com the average wage in Venture backed companies is $89k/yr. Average wage in CT is $76k.

• $1.6B in CT wages

• Income Tax Revenues of $82MM/year

Potential for Job growth

– Identify VC community

– Engage key VC funds

– Create successful events

– Integrate with Innovation Ecosystem • Venture Principals

• Professional Services community

• State and Federal Government

• Universities

• Investors

• Entrepreneurs

Accomplishments 2011

– Connect existing VC funds to CT Companies

– Create new VC funds in CT

– Engage a wider audience at events

Objectives 2012

– National Venture Capital Association • http://www.commerce.gov/news/press-releases/2009/09/24/commerce-

secretary-locke-announces-new-commerce-initiatives-foster-in

– National Venture Capital Association • www.nvca.org

• 2011 yearbook- Thomson Reuters

– PWC Money Tree • www.pwcmoneytree.com

– WI Dept of Commerce • www.commerce.state.wi.us/bd/BD-Act255-Venture

capitalseedfund.html

Sources and Links