CVC in Finland past and future Presented by
CVC in Finland – past and future Presented by Tom Whitehouse Contributing editor, GCV
What is GCV? A global, multimedia publishing group dedicated to serving the intermediaries, such as corporations, universities and governments, directing venture funding to entrepreneurs in the innovation economy.
Who am I? • Contributing Editor, Global Corporate Venturing. Writer / editor of specialist reports: Ø Corporate Venture Capital and the Future of Mobility and Automotive Technology 2017 Ø New Fusions in Advanced Materials Innovation and Corporate Venture Capital • Executive Chairman, LEIF (London-based investment bank) Ø Ø Mobility & automotive Advanced materials & manufacturing Energy > $50 m raised for early stage venture • Former BBC World Service and Guardian Foreign Correspondent
AGENDA: 1. A brief history of CVC in Finland 2. The future: • A CVC downturn? • Implications for Finland? 3. Questions / discussion
CORPORATE VENTURING IN FINLAND (2011 -Q 3 2017)
Top corporate investors from Finland (2011 -Q 3 2017)
Finland-based CVC investors participated in 89 deals between 2011 and Q 3 2017
Finland-based CVCs invest mostly in North America & Europe (2011 -Q 3 2017)
Finland-based CVCs invest in nearly all stages (2011 -Q 3 2017)
Global CVCs have invested in 40 rounds raised by Finland-based companies
These investments have been in a businesses from a range of sectors
Finland-based businesses tend to raise early-stage rounds with CVC backing
Both Finnish and international CVCs invested in Finland’s startups
Top rounds raised by Finland-based companies Portfolio Company Location Maria. DB Finland Sector Round Size Investors List IT Undisclosed $27 m Alibaba | undisclosed Sky. SQL Finland IT B $20 m California Technology Ventures (CT Ventures) | Finnish Industry Investment (FII) | Intel | Open Ocean Capital | Spintop Ventures Holiday Club Resorts Finland Services Stake purchase $18 m Mahindra Group Nexstim Finland Health Undisclosed $16 m Finnish Industry Investment (FII) | Health. Cap | Ilmarinen Mutual Pension Insurance Company | Life Sciences Partners | Lundbeck | Sitra - Finnish Innovation Fund Enevo Finland Services B $16 m Earlybird | Finnish Industry Investment (FII) | Ginko Ventures | Hon Hai | Lifeline Ventures | Mistletoe | private investors Forendo Pharma Finland Health A $15 m Finnvera | Merck KGa. A (Merck Ventures) | Novartis | Novo Grand Cru Finland Media A $11 m Idinvest Partners | Nokia | Qualcomm Maa. S Global Finland Transport Undisclosed $11 m Aioi Nissay Dowa Insurance | Toyota Indoor. Atlas Finland IT A $10 m Baidu Next Games Finland Media B $10 m AMC Entertainment | International Data Group | Lionsgate | Lowercase Capital
Historical View of CVC-backed deals around the globe (2011–Q 3 2017) Other
Where is Finland in this photo? One day I’ll be connected, electric and autonomous And I’ll be happy to share you But we’ll always talk of ‘horse power’ Don't tell anyone, but I've been faking my emissions Are you the disruptor or disrupted?
NEW MOBILITY PIONEERS : What do they have in common? Connectivity Investors include (after 2017 equity raise): • Aioi Nissay Dowa Insurance Company • DENSO • Karsan Otomotiv Sanayii • Swiftcom • Toyota Financial Services • Transdev • Veho Group Investors include (after 2016 equity raise) • Infosto • Inventure • Startup Autobahn • EIB (loan)
CONCLUSIONS 1. Finland ‘fights above its weight’ in CVC ü Finnish CVC investments largest in the Nordic region relative to GDP 2. CVC remains a strategic imperative in the fight against creative destruction ü The world is increasingly connected ü And therefore perhaps increasingly Finnish!
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