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4G Mobile Ventures

4G Mobile Ventures. Network Investments. Jim Baker, Managing Partner Xenventure. Key U.S. 4G Network Investments. Overview. Largest holder of 2.5GHz spectrum in the United States Raised over $3 billion in equity from major strategic investors

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4G Mobile Ventures

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  1. 4G Mobile Ventures Network Investments Jim Baker, Managing Partner Xenventure

  2. Key U.S. 4G Network Investments

  3. Overview • Largest holder of 2.5GHz spectrum in the United States • Raised over $3 billion in equity from major strategic investors • CLEAR™ 4G service currently live in 74 metropolitan markets • Launches in Q4 2010 include Los Angeles, NYC, San Francisco • Targeting coverage of >120 million people by end of 2010 • Wholesale strategy with investors, and possibly T-Mobile • Currently testing 40MHz FDD LTE in Phoenix AZ yielding >20Mbps

  4. Challenges • Focus on building out network – must be top priority • Clear turns on a new base station in New York every 90 mins • Clear users consume 7GB/month; backhaul capacity is key • Monetize spectrum to raise capital to continue network build • Relationships with other carriers like T-Mobile is critical • Medium term move to LTE essential for network sharing

  5. Overview • Acquired ‘C Block’ spectrum in the 700MHz band for $4.74 billion • National spectrum footprint covering 298m people • Regional spectrum covering 171m, acquired for $4.89 billion • Launching LTE in up to 30 markets in 2010, covering 3G area by 2013 • Average user speeds of 5-12Mbps down, 2-5Mbps up (like WiMAX) • Created $1.3 billion 4G Venture Forum to fund innovation in LTE • Alcatel-Lucent Ventures, Charles River Partners, New Venture Partners, North Bridge Venture Partners, Norwest Venture Partners and Redpoint Ventures

  6. Challenges • 10 + 10MHz implementation is better than 3G but… • Will be much slower than possible Clearwire 40MHz FDD LTE • European LTE offers >30Mbps down and >15Mbps up • Must replace legacy EV-DO Rev A swiftly to improve data offering • VoLTE versus dual-mode CDMA • Initial deployment will use CDMA for voice

  7. Overview • Created by Harbinger Capital Partners in mid 2010 • Launching hybrid LTE/satellite wholesale network • 59MHz of spectrum in various bands • 40,000 terrestrial base stations, two satellites • Announced initial partnership for SmartGrid applications • Aims to cover 92% of U.S. population by 2015 • Initial roll-out starting Q3 2011 in Las Vegas, Phoenix, Denver, Baltimore • Awarded $7 billion, 8 year contract to Nokia Siemens Networks for build • Secured $1.75 billion in initial funding, committed $3 billion in total

  8. Transport Vertical

  9. Challenges • Funding • Analysts think network build could cost >$5 billion • 40% of the Harbinger fund’s portfolio is tied up in LightSquared • UBS provided $850m debt funding in September 2010 • Harbinger sold off 14% of Inmarsat to raise $650m • Create wholesale and vertical partnerships early on • Airspan for SmartGrid • Indian Health Service to provide communications to remote areas of Native American reservations

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