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CVC Summit 2017


 

 

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Thursday, June 8, 2017
San Francisco
 

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CVC Summit 2017


 

 

Save the date

Thursday, June 8, 2017
San Francisco
 

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Agenda


Agenda


Opening Remarks

Georges Nahon, CEO, Orange Silicon Valley
 

How CVCs invest & what makes for effective corporate innovation programs

Professor Strebulaev talks about his latest findings on how CVCs invest and how corporations should be innovating.


Professor Ilya A. Strebulaev, Professor of Private Equity and Professor of Finance at Stanford Graduate School of Business


How the c-suite and corp dev views CVC initiatives

A conversation about what corporate development and the C-suite execs think about and rationalize in-house venture programs. Is it working? What kind of value are theygetting from it. What's the approach between venture and M&A?


Amy Banse, Managing Director & Head of Funds, Comcast Ventures

Phil J. Kirk, Sr. Director, Investments & Acquisitions, Cisco

Avin Arumugam, SVP, Visa Ventures


Presentation by Hans Swildens

"Winning by Losing in Early-Stage Investing" - Hans looks at the losses and returns of venture portfolios. He will talk about why CVC programs fail, and why if CVC programs are to become successful corporations need to stay in the game inspite of losses.


Exiting venture investments, liquidity or liquidation?

This panels looks at the outlook for venture investment exits and the state of venture valuations. What is the current exit environment? Is there an appetite for IPOs, and M&As, or are we headed for liquidation? Are once-flush startups really struggling to stay alive as investors becoming pickier? 


Hans Swildens, CEO, Industry Ventures

Tim Karman, Global Head of Internet Investment Banking, RBC Capital Markets

Daren Matsuoka, Data Analyst, SVB Capital


What's next? - The Crystal Ball

Valley VCs and CVCs talk about the next wave of technologies and startups. Secular trends or fads?


Steve Goldberg, Operating Partner, Venrock

Duncan Davidson, Managing Director, Bullpen Capital

Steve Abbott, Managing Director, Sapphire Ventures


Presentation by Neal Hansch

"Why the top entrepreneurs are seeking corporate venture money"


CVCs and traditional VCs, combinations that work!

CVCs and VCs have different investment motivations, with each bringing different value to table. What makes for good co-operative partnerships from dealing sharing,  co-investment, business development, and post investment involvement? CVCs and VCs talk about what works and what does not, as well as expectations and commitments that they would like from each other. 


Rick Klau, Google Ventures

Jennifer Smith, Director, Greylock Partners

David Wehrs, Partner, Bessemer Venture Partners

Neal Hansch, CEO & Managing Partner, Sherpa Foundry


The "Instrumented Startup," The next venture investment model

This track looks at an emerging class of active VC firms that co-builds the startups that they invest in. They assist in building the product, defining the roadmap, assembling the team and finding the customers.


Oren Goldschmidt, President, Pivotus Ventures

Jason Sydow, Investment Partner, Next47

Bob Ackerman, Managing Director, Allegis Capital

Jay Onda, Mentor and Advisor to entrepreneurial teams


Networking with the CVC community

Stay for wine and appetizers, sponsored by our friends at: 

Speakers


Speakers


Professor Ilya A. Strebulaev
Professor of Private Equity & Professor of Finance at Stanford Graduate School of Business

Ilya Strebulaev is a tenured Professor of Finance at the Graduate School of Business, Stanford University, and a Research Associate at the National Bureau of Economic Research. He graduated from the London Business School with a doctorate in Finance. He also holds degrees from Lomonosov Moscow State University (B.Sc. Economics) and the New Economic School, Moscow (M.A. Economics).

Ilya is an expert in corporate finance and credit risk. His work includes papers published in the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics.

His most recent work has examined issues of dynamic capital structure, strategic financial decision-making, and empirical estimation of firms’ financing decisions. Ilya teaches the MBA angel and VC investment and decision-making course, the Sloan finance course, and the PhD advanced corporate finance course.

Amy Banse_gray.png

Amy Banse
Managing Director & Head of Funds, Comcast Ventures

Amy is Managing Director and Head of Funds for Comcast Ventures and leads strategy for the fund as it determines how best to support its portfolio companies through the Comcast/NBCUniversal platform. Amy has over 20 years of experience investing in, starting and building companies at Comcast. During her tenure, she has closed hundreds of deals, acquired multiple cable television networks, and launched several others. She was the founder of Comcast's digital media division, Comcast Interactive Media (CIM), and, together with her team, established Comcast's cross-platform product strategy.

Amy joined Comcast in 1991 as an in-house attorney responsible for programming acquisition. Amy received a B.A. from Harvard University and a JD from Temple University Law School.

She currently serves on the Adobe Systems Incorporated (Nasdaq: ADBE) Board of Directors

Phil Kirk
Cisco Investments

Phil Kirk joined Cisco in 2007 and is currently responsible for all acquisitions and investments related to Big Data as well as Cloud software and management. Before joining Cisco, Phil was with the Microsoft Corporate Strategy team.  Previously, he was an associate with DTEC Venture Capital, where sourced and executed early stage investments in the software and networking market.  Earlier, he spent time as a strategy consultant, focusing on clients in the internet and e-commerce space.

Phil earned his MBA degree from the Wharton School at the University of Pennsylvania and an AB degree with honors in Economics from the University of Chicago.

Hans Swildens
CEO and Founder, Industry Ventures

Hans is the founder of Industry Ventures and is on the investment committee of the firm's secondary and partnership holdings funds. As an early pioneer of the modern secondary market for venture capital, Hans sources and leads investments in secondary opportunities and special situations for the firm. Additionally, he directs the firm’s investment processes, operations and limited partner relationships.

Since founding Industry Ventures, Hans has sourced and led the acquisition of over one hundred secondary investments in the venture capital industry. These transactions include purchasing corporate venture capital funds, hedge fund investments, restructuring limited partnership interests, acquiring portfolios of limited partnership interests, purchasing founders' equity interests and structuring special situation investments with General Partners and Limited Partners. Earlier in his career, Hans was a successful entrepreneur who co-founded and acted as President of Microline Software. Microline was acquired by Blaze Software (IPO) and was subsequently acquired by Fair Isaac. He also provided board advisory services to Discovery Mining (acquired by Interwoven), nCircle Network Security (acquired by Tripwire), Speedera Networks (acquired by Akamai), and StepUp Commerce (acquired by Intuit).

Hans holds an MBA from Columbia Business School and a BA with distinction from the University of California at Santa Barbara.

Daren Matsuoka
Data Analyst, SVB Capital

Daren Matsuoka is a Data Analyst at SVB Capital, Silicon Valley Bank’s fund of funds and direct investment group, and is responsible for managing a database that houses all of SVB Capital’s proprietary information. In addition, Daren has helped build out an analytics platform that supports the partners in their search for breakout companies and fund managers. 

Prior to joining SVB Capital in 2015, Daren participated in a series of finance internships at Morgan Stanley as well as a fund accounting internship at State Street, one of the world’s largest custodian banks.

Daren graduated from the University of California, Davis with a degree in Managerial Economics.

In his spare time, Daren loves playing basketball and golf with friends and family as well as supporting his favorite Bay Area sports teams.

Steve Goldberg
Operating Partner, Venrock

Steve joined Venrock in 2009 after having been CEO of several early stage companies including DataRunway, Vidient, Arcwave and CoWave Networks. Prior to that, he was Vice President of Research and Development at Nokia Internet Communications and Vice President and General Manager of the Wireless Communications Division at Cylink Corporation. Steve also held senior management and engineering positions at Trimble Navigation and Hewlett Packard. At Venrock, Steve focuses on investments in connectivity, M2M/Internet of Things, robotics and embedded systems. He currently sits on the Board of Directors of Asoka, FutureDial, Red Seal, and Quantenna Communications. Previous board seats include Canesta (Acq by Microsoft), Kineto Wireless (Acq by Taqua), Newport Media (Acq by Atmel), and Teranetics (Acq by PLX Technology).

Steve received his B.S. and M.S. in Electrical Engineering from Washington University and his Ph.D. in Electrical Engineering from the University of California, Santa Barbara.

Duncan Davidson
Managing Director, Bullpen Capital

Duncan is a serial entrepreneur who most notably founded Covad Communications (the leading independent DSL provider, went public and reached a market value of $9B) and Sky Pilot Networks. He served as the SVP of Business Development at InterTrust and led the IPO in 1999 and the secondary in 2000. He spent four years as a managing director at VantagePoint Venture Partners where he focused on digital media and telecom investments including Widevine (acquired by Google) and Livescribe.

Prior to Bullpen, he co-founded one of the first mobile social app companies, Xumii, later sold to Myriad Group and now powering over 200M users in the developing world. At Bullpen he focuses on mobile and consumer Internet investments, and sits on the boards of DoubleDutch, SendHub, and Proformative. Key investments include Byliner, PaidPiper and Twenty20.

He received a Sc.B. in physics/math from Brown University, with Honors, and a J.D. magna cum laude from Michigan Law School, where he was Order of the Coif and a member of the Law Review.

Steve Abbott
Managing Director, Sapphire Ventures

Steve is a managing director at Sapphire Ventures, where he is responsible for capital markets activities. His areas of technology interest include hardware, Internet of Things, sports technology, financial technology and technology-enabled services. Steve also provides strategic oversight of the firm’s finance, operations and legal functions, and he served as a board director for Recommind. Prior to joining Sapphire Ventures, Steve was a managing director in technology investment banking at Deutsche Bank, UBS and Jefferies, where he led more than 100 financings and M&A transactions.

Earlier in his career, Steve was a strategy consultant at Bain & Company and worked in technology corporate finance at Robertson Stephens. He earned his undergraduate degree from the University of California, Berkeley, with highest honors, an MBA from Stanford Graduate School of Business and a JD from Stanford Law School.

David Wehrs


Partner, Bessemer Venture Partners

David Wehrs, a partner in our Silicon Valley office, focuses on helping BVP Funded companies as they grow.

Acting as a liaison to BVP Funded companies, David leads a team of functional experts who act as resources to the portfolio – our Solutions Team. This team supports portfolio companies through tailored introductions and expertise across a variety of critical functions including Marketing and PR, Executive and Technical Talent, Corporate and Business Development.

In this role, David also supports the connected community of BVP Funded companies.  Across the portfolio, connections are made through introductions, events, and a variety of other channels. From peer advisory boards for Founders, CFOs, CTOs, CMOs, and HR to deep-dives on relevant topics like Growth, Retail, Innovation, and Technology, BVP fosters pivotal conversations and knowledge sharing across the community.

David draws on his experience from McKinsey & Company where he worked with Technology, Media, and Telecom businesses on Corporate Strategy, Operations, and Sales and Marketing. At McKinsey, David also built TeamSight, a SaaS application that improves the process for making purchasing decisions across complex organizations. Earlier he worked in Finance at Red Hat.

David holds an M.B.A. from the University of Chicago's Booth School of Business and a B.S. in Economics from Duke University.

Oren Goldschmidt
President, Pivotus Ventures

Oren is a visionary technologist and innovation expert with twenty years' experience building technology companies and developing models for corporate innovation.

He is President of Pivotus Ventures, a corporate innovation organization the Bay Area. Pivotus brings financial institutions from different geographies together create technologies that transform traditional banking business models by re-imagining how we interact with money and transact commerce.

Before setting up Pivotus, Oren was a General Partner and Chief Strategy and Technology Officer at Frost Data Capital, a venture fund and incubator based in California enabling large-scale corporate innovation and transformation. He has also been a Chief Technology Officer at a number of technology start-ups including Vielife (later acquired by Cigna) and VisualDNA; he was founder and managing partner at Blueorange, a London-based incubator developing innovative strategies and delivering disruptive products for a series of new ventures in the UK.

Jason Sydow


Investment Partner, Next47

Jason Sydow is a Venture Capitalist in Palo Alto, CA with Next47, a Siemens Company.

He leads investments in advanced manufacturing and industrial technologies. Specific areas of interest include IT/OT Security, Robotics, Additive Manufacturing, Artificial Intelligence, Industrial Internet of Things, and general industrial or engineering software.

While with Siemens, Jason has invested in Riffyn, application software for design for quality in the pharma industry; Identify 3D, a digital rights management platform for distributed and additive manufacturing; and Bonsai AI, an Integrated Developer Environment for artificial intelligence enabled applications.  He also manages investments in CyberFlow Analytics (acquired by Webroot) and Electric Cloud.

Prior to joining Siemens, Jason was a Partner with QuestMark Partners, an expansion stage Venture Capital firm focused on Technology and Enterprise Software.

At QuestMark, Jason led investments in Enpirion (co-led, acquired by Altera), NComputing, and Guavus (acquire by Thales).  He also served on the board of RF Code (holding acquired by Yet2 Ventures).

Previously, Jason led licensing and new company formation for engineering and physical sciences at  Arizona State University.  Jason was the general manager for medical batteries at EaglePicher Technologies, an energy storage company.  Initially, he worked 4 years at The Boston Consulting Group as a consultant and project leader.

Jason received his Ph.D. from Cornell University, an MPhil from the University of Strathclyde in the United Kingdom as a Marshall Scholar, and a B.S. from the University of Virginia – all in Physics.

Bob Ackerman
Founder & Managing Director, Allegis Capital

Bob founded Allegis Capital in 1996 after a successful career as a serial entrepreneur. In founding Allegis, Bob’s mission was to build a seed and early-stage venture firm that would combine operational experience with an entrepreneurial spirit and a focus on forging true partnerships with portfolio companies to build successful and sustainable cybertechnology companies. Bob has been recognized as a Fortune 100 cybersecurity executive and also as one of “CyberSecurity’s Money Men”.

As an entrepreneur, Bob was the President and CEO of UniSoft Systems, a global leading UNIX Systems House and the Founder and Chairman of InfoGear Technology Corporation, a pioneer in the original integration of web and telephony technology and creator of the original iPhone.

Outside of Allegis, Bob teaches New Venture Finance in the MBA program at the University of California, co-manages his family’s small Napa Valley winery – Ackerman Family Vineyards, and enjoys fly fishing.

Jay Onda


Active mentor and Advisor to entrepreneurial teams

Jay Onda is an active mentor and advisor to entrepreneurial teams, for large corporations and for various startups and accelerators around the world.  He speaks internationally on corporate innovation and corporate venture capital.

Jay was a founding member of Yamaha Motor Ventures & Laboratory Silicon Valley (YMVSV) where he served as Partner and Director of Strategic Investments. Prior to joining YMVSV, Jay was a Principal at NTT DOCOMO Capital where he managed early stage investment opportunities, due diligence, strategic business relationships with promising startups.  Earlier in his career, Jay served as a UI/UX designer, engineer, and product manager.   He has maintained a focus on user-centric design as a primary focus point for innovation. 

 

Avin Arumugam
SVP Visa Ventures

 

Previous attendees

CVCs

• Air Liquide Venture Capital
• OceanIQ Partners
• AXA Strategic Ventures
• KDDI Open Innovation
  Fund
• Intel Capital

 

• Robert Bosch
  Venture Capital

• Capital
• SAIC Capital
• Samsung Catalyst Fund
• Shell Technology Ventures

 

• Singtel Innov8
• Thomvest Ventures
• Touchdown Ventures
• Technicolor Ventures

 

VCs

• Andreessen Horowitz
• August Capital
• Avión Ventures 
• Cathay Capital

• Comet Labs
• Commerce Ventures
• Crosslink Capital
• Deep Fork Capital
• Delta Partners Group
• Draper Venture Network

 

• First Capital Partners
• FundersClub
• GV
• Kapor Capital
• KPCB
• Lightspeed Venture
  Partners

• Lumia Capital
• Momentum Venture
  Partners

 

• Nautilus Venture Partners
• Partech Ventures

• Plug and Play Tech Center
• Scrum Ventures
• Sozo Ventures
• Spectrum 28
• The Venture Reality Fund
• TrueBridge Capital Partners
• Velocity Venture Capital

 

Corporations

• Apple
• L'Atelier BNP Paribas
• AXA
• Baidu
• Bank of America
• BNY Mellon
• Capgemini
• Cisco
• EDF
• Flex

 

• Fnac
• Hilton
• Honda
• IDEO
• Panasonic
• Pearson
• PSA Group
• Renault
• Morpho
• Salesforce

 

• Samsung Group
• SoftBank
• SoftBank Telecom America
• Sony
• Strikedeck
• Silicon Valley Bank
• Total
• Veolia
• Visa
• Wells Fargo

 

Other (innovation-driven initiatives, academic, public organizations)

• Berkeley-Haas School of Business
• Kauffman Fellows
• PRIME
• Sherpa Foundry
• SKTA Innopartners