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We finance the Knowledge
We finance the Knowledge 2 Who are the partners? 1. UNIRISCO Galicia SCR 7. Parque Científico de Madrid (Autónoma and Complutense Universities) 8. Valencia University 9. Politécnica of Valencia University A Coruña University Santiago University Vigo University 2. León University 3. Valladolid University Foundation 10. Alicante University Foundation 11. Miguel Hernández University (Elche) 4. Salamanca University 5. Torres Quevedo Foundation (Cantabria University) 12. Extremadura University Carlos III University (Madrid) 14. Empresa Nacional de Innovación (ENISA – Ministry of Industry)) 6. 13. Cádiz University 16 Universities UNINVEST PROJECT: Bridge the gap … I+D Unifondo Detect and evaluate investment opportunities Business world Finance technological companies Research world Manage the Fund resources Financial world “Turning Research Results into Profitable Companies” 3 The Fund I+D Unifondo Turning Research Results Into Profitable Companies I+D UNIFONDO Venture Capital Technological Fund 18.500.000 EUR Investing in scientific/ New technology based companies, Start-up´s from the University and/or other Public Research Centers (CSIC, …) 5 Investment Profile Sectors: Health Care Biotechnology New Materials and Nanotechnology Information and Communication Technologies Environmental Science Standard Investment. 200,000.-€ up to 1.000.000.-€ 6 I+D UNIFONDO Investors= 70% Private + 30% Public CaixaGalicia CaixaNova Grupo Santader Axis Participaciones (Instituto de Crédito Oficial) Grupo San José Banco Epirito Santo Fondo Emprende ( Xesgalicia SGECR SA) ENISA (Emp. Nacional de Innovación) INDITEX Total 18,5 Mill EUR 7 I+D UNIFONDO Investments 8 Venture CAPITAL Venture capital invest on companies and well structured projects, viable and managed by a capable team 9 VENTURE CAPITAL-DIFFERENT TYPES 10 Seed: investments on the previous stages to the massive production (prototypes, R and D, …) Start-up: initial development and commercialization (recent created companies) Expansion: consolidated companies (with profits) that need to cover new business challenges Replacement: buy-sell of shares between investors first Redirect: relaunchement of companies with financial difficulties RISK CAPITAL IN SPAIN MADUREZ Development degree of invested companies in Spain Source: ASCRI 2004 6,2% 0,2% 0,8% 6,7% seed capital Semilla Start up Expansion Expansión Replacement Sustitución MBO/MBI MBO/MBI Others Otros 21,1% 65,0% 11 RISK CAPITAL IN SPAIN TOTAL VOLUME INVESTED on 2005: 4.117,7 M€ x2 compared to 2004 Transactions: Jazztel, Imaginarium, Vueling, Seed capital 8,4M€ and 50 transactions Start-up: 109,3M€ Source: “El capital semilla no germina en España” (EL PAIS – 2 de abril de 2006) ASCRI: www.ascri.org 12 RISK CAPITAL-HOW IT WORKS? It is the most important factor The financial partner is active but does not take part on the daily management PROMOTERS Settlement of interests: promoters, investors, technology owners, … Principal reasons for rejection (Source: EVCA) 51% Management team 15% Project sector 9% Business Plan not solid 9% No viability of the project 7% Uncertain/Insufficient market 5% Insufficient profitability 4% No originality at all 13 RISK CAPITAL-HOW IT WORKS? Being highly selective Looking for companies with innovative products and competitive advantages in mature and with high expectation markets Supporting capable teams Investing on companies with a real and clear possibility of de-investment 14 Venture CAPITAL 15 Venture capital invest on companies and well structured projects, viable and managed by a capable team VENTURE CAPITAL-DIFFERENT TYPES 16 Seed: investments on the previous stages to the massive production (prototypes, R and D, …) Start-up: initial development and commercialization (recent created companies) Expansion: consolidated companies (with profits) that need to cover new business challenges Replacement: buy-sell of shares between investors first Redirect: relaunchement of companies with financial difficulties RISK CAPITAL IN SPAIN MADUREZ Development degree of invested companies in Spain Source: ASCRI 2004 6,2% 0,2% 0,8% 6,7% seed capital Semilla Start up Expansion Expansión Replacement Sustitución MBO/MBI MBO/MBI Others Otros 21,1% 65,0% 17 RISK CAPITAL IN SPAIN TOTAL VOLUME INVESTED on 2005: 4.117,7 M€ x2 compared to 2004 Transactions: Jazztel, Imaginarium, Vueling, Seed capital 8,4M€ and 50 transactions Start-up: 109,3M€ Source: “El capital semilla no germina en España” (EL PAIS – 2 de abril de 2006) ASCRI: www.ascri.org 18 RISK CAPITAL-HOW IT WORKS? Being highly selective Looking for companies with innovative products and competitive advantages in mature and with high expectation markets Supporting capable teams Investing on companies with a real and clear possibility of de-investment 19 I+D UNIFONDO Contact Contacts Santiago de Compostela Madrid UNINVEST UNINVEST C/Santiago Grisolía, 2 PTM-Parque Científico de Madrid 28760 - Tres Cantos (Madrid) Teléfonos: 91 806 07 57 Edificio CACTUS Campus Universitario SUR 15782 – Santiago de Compostela Teléfonos: 981 54 70 44 [email protected] 20
