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Venture Capital Club 2003/2004 Introduction

Venture Capital Club 2003/2004 Introduction. September 10, 2003. Agenda. Introduction of Board Club Events and Initiatives VC Overview Internship Panel Membership Q&A. 2003/2004 VC Club Board & Advisor. Board Kevin Carpenter kcarpent@andrew.cmu.edu Amar Kapadia akapadia@cmu.edu

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Venture Capital Club 2003/2004 Introduction

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  1. Venture Capital Club2003/2004 Introduction September 10, 2003

  2. Agenda • Introduction of Board • Club Events and Initiatives • VC Overview • Internship Panel • Membership • Q&A Proprietary & Confidential

  3. 2003/2004 VC Club Board & Advisor Board • Kevin Carpenterkcarpent@andrew.cmu.edu • Amar Kapadiaakapadia@cmu.edu • Sujal Shahsashah@andrew.cmu.edu Advisor • Frank Demmler – Associate Professor GSIA fd0n@andrew.cmu.edu Proprietary & Confidential

  4. Mission & Benefits • The CMU Venture Capital Club is committed to providing its members with career and educational opportunities in the venture capital and private equity sectors • Interact with some of the key players • Distinguished speaker series • Hear distinguished venture capitalists and private equity investors speak on campus • Venture Capital Investment Challenge • Business Plan Competition • Social Events with the Pittsburgh Venture Capital Association (other events TBA) Proprietary & Confidential

  5. Distinguished Speaker Series Topics: • Introduction to Venture Capital • Sourcing and Evaluating a Deal • How to Structure a Deal • Investment Philosophy • Leveraged Buy-Outs (LBOs) and Mezzanine Investing • Career Panel • How to Incubate a Start-up • Angel and Seed Investing • Biotech Investing • Exit Plan Proprietary & Confidential

  6. How are funds structured? • Private limited partnerships • General Partner – Individual managers of a fund • Limited Partner – Individual and institutional investors • General Partner draws down capital as needed for investments • Investment period 5-7 years • Partnership term 10-12 years • At which time remaining holdings in portfolio are liquidated and cash and stock are distributed to the LPs Proprietary & Confidential

  7. How are Fund Managers Compensated? • Two main sources of income – annual management fee and carried interest • Annual management fee • Calculated as a % of total capital commitments to a fund • Typically in the 1.5% - 2.5% range • Carried interest – share of the profits • Typically 20% Proprietary & Confidential

  8. Job Description / Qualifications Job Description: • MBA’s typically enter as associates • Screen incoming business plans and ideas • Perform due diligence on potential investments • Assist portfolio companies in developing their businesses Qualifications: • Leadership, interpersonal skills, strategic thinking ability, initiative, creative problem solving skills, and an ability to work in an unstructured environment • MBA’s, doctors, lawyers, PhD’s and other various professionals have made their way into venture capital Proprietary & Confidential

  9. Job Advice • Determine your stage preference • Thoroughly research the firms • Decide on an industry focus • Use your networks • Start the process early • Get involved with the venture capital club • Read industry publications to stay abreast of developments in the industry • Be geographically flexible Proprietary & Confidential

  10. Membership Dues • First Years: $25 • Second Years: $20 • Checks should be made payable to: • Carnegie Mellon University • Drop checks in Sujal Shah’s mailbox • Include email address Proprietary & Confidential

  11. Q&A Proprietary & Confidential

  12. Tentative Schedule – Fall 2003 Mini 1 • Kick-off Meeting (9/10) • Distinguished Speaker: Frank Demmler, Professor GSIA Topic: Introduction to Venture Capital • Distinguished Speaker: GP Techno Venture Management Topic: Biotech investing Mini 2 • Distinguished Speaker: TBA Topic: How to source and evaluate a deal • Distinguished Speaker: Joel Adams, Adams Capital Management (TBA) Topic: Investment strategy • Distinguished Speaker: TBA Topic: Leveraged Buy-Outs • Career Panel: TBA Proprietary & Confidential

  13. Tentative Schedule – Spring 2004 Mini 1 • Kick-off Meeting (9/10) • Distinguished Speaker: Frank Demmler, Professor GSIA Topic: Introduction to Venture Captial • Distinguished Speaker: GP Techno Venture Management Topic: Biotech investing Mini 2 • Distinguished Speaker: TBA Topic: How to source and evaluate a deal • Distinguished Speaker: Joel Adams, Adams Capital Management (TBA) Topic: Investment strategy • Distinguished Speaker: TBA Topic: Leveraged Buy-Outs • Career Panel: TBA Mini 3 • Silicon Valley Trip A joint trip with the High-Tech Club • Venture Capital Investment Challenge, Northeast Regional, Babson College • Distinguished Speaker: Frank Demmler, Professor GSIA Topic: Introduction to Venture Captial • Distinguished Speaker: GP Techno Venture Management Topic: Biotech investing Mini 4 • Distinguished Speaker: TBA Topic: How to source and evaluate a deal • Distinguished Speaker: Joel Adams, Adams Capital Management (TBA) Topic: Investment strategy • Distinguished Speaker: TBA Topic: Leveraged Buy-Outs • Career Panel: TBA Proprietary & Confidential

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