Equity Crowdfunding Changing the world of innovation finance Dan Be nne tt – Ma na g ing Dire c to r Ashley Krongold – General Partner F OSS se ssio n, Ja nua ry 2015 October 2015
1. Global VC over Equity Crowdfunding Equity Crowdfunding 2. Who we are and our approach to investment Changing the world of innovation finance 3. OurCrowd’s Portfolio Snapshot 4. The Opportunity Dan Be nne tt – Ma na g ing Dire c to r 5. OurCrowd Team F OSS se ssio n, Ja nua ry 2015
Market Disruption: Crowdsourcing in Finance • Massolution: Crowdfunding portals raise $5.1 billion in 2013 – nearly double the amount raised in 2011. Over $16 billion in 2014 raised!!! • • The World Bank estimate places global crowdfunding at $95B by 2025 Consumer Lending Rewards-based Donations Venture Capital Source: Massolution Crowdfunding Industry Overview 2013 Source: Deloitte TMT Predictions 2013 “Let's get together: crowdfunding portals bring in the bucks” Source: World Bank “Crowdfunding’s Potential for the Developing World” 3
Reward-based crowdfunding: Where is the Reward? T he re c e nt ac q uisitio n o f Oc ulus raise s q ue stio ns Pays $2B for company and Original crowd funders get nothing Andreesen, Spark, Matrix Partners back Oculus Rift (virtual reality headset) with $75M Series B, then Facebook acquires the company for $2B December 2013 … March 2014 After raising $2.4M from Kickstarter, Oculus Rift gets the attention of major investors Now investors are Naturally, this plays into asking why do I the rise of equity only get a tshirt? crowdfunding platforms 4
Our Story of Consumer Physics (SCiO) – multiple CF uses Miniaturized spectrometer, allowing for the first hand-held molecular sensor. Applications: measuring nutritional information in foods, allergens, authenticating precious metals and leathers, etc. https://www.kickstarter.com/projects/903107259/scio- your-sixth-sense-a-pocket-molecular-sensor-fo 5
The Story of Consumer Physics (SCiO) Co-investors: Khosla Ventures Co-founder, Sun Microsystems Crowdfunded seed round on GP, Kleiner Perkins OurCrowd - $375k raised | 2013 Dov Moran M-Systems, acquired by SanDisk for ~$1.5B Menahem Kaplan Global CTO, Alcatel-Lucent $5B optical business
The Story of Consumer Physics (SCiO) Product launch - $2.8M in preorders Crowdfunded seed round - $375k raised | 2013 Launched consumer product on Kickstarter in 2014 Product launch on Kickstarter at $200 price point saw over $1.2M in pre-orders within a week . Opened follow-on via OurCrowd – Rave reviews in media: VentureBeat, CNN, raised $3.3M within two weeks Bloomberg, Forbes, BBC, Fox, Gizmag, TechCrunch
1. Global VC / ECF Platform – over half investments in Israel, why? Equity Crowdfunding Changing the world of innovation finance 2. Who we are and our approach to investment 3. OurCrowd’s Portfolio Snapshot 4. The opportunity Dan Be nne tt – Ma na g ing Dire c to r 5. OurCrowd Team F OSS se ssio n, Ja nua ry 2015
The largest ECF platform in the world! $220M+ 120+ 10,000+ 33 invested countries 80+ members Up-rounds 0 Companies Failures in portfolio Co-investors
OurCrowd - Who are we? Glo b a l le a de r in e q uity c ro wdfunding Almo st $220M ra ise d fo r pla tfo rm a nd po rtfo lio Ra ise d $175M fo r o ve r 70 c o mpa nie s 30+ c o mpa nie s with o ve r $1m ra ise d, te n o ve r $3m, se ve n a t o r g re a te r tha n $4m, two a t $8m a nd o ne o ve r $10m 10
A hybrid of venture capital and crowdfunding OurCrowd invests Open the deals 3000+ companies Researching and per year selecting only the best its own money to the crowd
“Crowdfunding for real investors” (TheStreet.com) Curre ntly Se le c ting 1-2% o f the de a ls pitc he d (c irc a 350 a mo nth) We a lwa ys Co- inve st with c ro wd (up to 10% o f ro und) Sophistic ate d a nd se le c te d inve sto rs o nly We me nto r o ur c o mpa nie s a nd ta ke b o a rd se a ts
We offer the professionalism of VC and flexibility of Angel investing Venture Capital Angel OurCrowd Access to Deal flow Top deal flow Limited Top deal flow Due diligence Professional Limited Professional Legal Dealt with Need to deal with Dealt with Rights Protected Common shares Protected Commitment Large No No Fees Heavy No Lower than VC Discretion/Choice No Yes Yes 13
Selection of OurCrowd companies
Key Investment Criteria 1. Great team Smart and/or serial entrepreneurs 4. Traction Round A: Early product, users, Traction Great Team customers & 2. Market: Address a huge revenues market Addressable Large opportunities Sponsorship Market 5. Sponsorship: Board, mentor, advise, smart investors Simple Value Value Proposition 3. A simple value proposition. Easily understood by us AND by “our crowd”. 6. We seek “deals” and are value-sensitive. 15
Diversification across stage Series C-D Rounds Seed round Series A-B Rounds POC, sales & revenue Idea phase R&D, early sales
Diversification across sectors Other Optics/Semis 5% 2% Medtech Health Social Media Mobile 15% 11% 8% Software Internet 8% 12% Cleantech 5% Consumer E-Commerce Cloud/Storage 6% 7% 3% IT Security / Fintech Communications 9% 5% Gaming 4% 17
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1. Global VC / ECF Platform – over half investments in Israel, why? Equity Crowdfunding Changing the world of innovation finance 2. Who we are and our approach to investment 3. OurCrowd’s Portfolio Snapshot 4. The opportunity Dan Be nne tt – Ma na g ing Dire c to r 5. OurCrowd Team F OSS se ssio n, Ja nua ry 2015
Exoskeleton device Advanced robotics allowing paraplegics to stand, walk & climb stairs. Best performing IPO on NASDAQ 2014 https://www.youtube.com/watch?v=2Xd27c-pz4Y
New Zealand Feeding the world NZ / Israeli water tech impact Mo b ile a pp tha t e na b le s fa rme rs to c o ntro l wa te r use . Isra e l re c yc le s 75% o f its wa te r, # 1 in the wo rld . By c o mpa riso n, # 2, Spa in, re c yc le s just 11% o f its wa te r. Cr opX– the wor ld’s most affor dable wate r “Isra e l sho uld b e pro ud o f b e ing a t the fo re fro nt o f g re e n inno va tio ns” – Ange l Gur r ia, OE CD Chair 22
Wireless Electricity CEO Meredith Perry: Forbes’s ‘30 • Under 30: Energy’ list and Fast Company’s ‘100 Most Creative People in Business’ Energy from a wall outlet and uses • ultrasound to project a focused beam of invisible energy • 25+ patents, $7-10 billion market, e.g. hotels, airlines and malls CO-INVESTORS: 23
Global Kinetics – Medical Care T e c hno lo g y fo r mo ve me nt diso rde r • (e .g . Pa rkinso ns) Ac c e le ro me te r / a lg o rithms • o ptimise de live ry o f me dic a tio n • Use d in 130+ c linic s with re le va nt re g ula to ry a ppro va ls (CE , F DA e tc ) OurCrowd has closed Australia’s largest ever equity crowdfunding round for $1.5 million” 19.05.15
Fighting the most deadly killer: malaria Israel’s interdisciplinary strengths Sight Diagnostics represents the convergence of two key Israeli strengths: life sciences/biology and machine vision/advanced algorithms Ma la ria ha s kille d millio ns in the pa st de c a de Sig htDX’ s c o mpute r visio n te c hno lo g y re duc e s the time to dia g no se fro m se ve ra l ho urs to minute s 25
Biometric security for the army now for civilians I de ntifying fra ud thro ug h mo use / ke yb o a rd/ to uc hsc re e n input mo nito ring whic h ha s 450 ide ntific a tio ns tha t yo u a re the use r 26
Keeping the public safe Ca se study: Boston Ma r a thon Bombing oble m: L a w e nfo rc e me nt ha d tho usa nds o f ho urs o f Pr fo o ta g e fro m thro ug ho ut the c ity. Solution: Brie fCa m’ s so ftwa re a llo ws re vie w o f ho urs o f fo o ta g e in sho rt sc e ne s displa ying a ll “a c tio ns” o n to p o f e a c h o the r. Vide o syno psis so ftwa re to turn ho urs o f fo o ta g e into a sho rt c lip Adva nc e d vide o a na lysis a lg o rithms a llo w se a rc hing b y c olor , dir e c tion o f motion , size o r spe e d o f obje c ts , a nd mo re T he ability to r e vie w a day of footage in a minute !
Hi-tech air treatment enVerid delivers a patented air treatment system using submarines / space stations tech Saves energy (up to 40% in existing US and Israeli buildings). enVerid was recently awarded a $2.4m grant from the US Dept of Energy to accelerate market adoption.
Putting your surgeon in the cockpit Sur gic al Re he ar sal Platfor m: highly diffe r e ntiate d Isr ae li militar y te c h Applying the sc ie nc e o f flig ht simula tio n to a dva nc e d CT / MRI ima g ing te c h T he o nly F DA-a ppro ve d pla ye r in its ma rke t Surg ic a l T he a te r’ s c o re te c hno lo g ie s a re po we re d b y the milita ry te c hno lo g ie s pio ne e re d b y its fo unde rs, Mo ty Avisa ra nd Re duc ing sur gic al e r r or s and c osts Alo n Ge ri, with the me dic a l he lp o f Dr. with F - 16 simulator te c hnology Wa rre n Se lma n fe atur e d on CNN he r e 29
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