Class___Presentation___VC_Basics

Class___Presentation___VC_Basics - VC Basics Sources of...

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VC Basics
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Sources of Financing In Order: Personal Savings – just starting out Friends, Family, Fools – have product concept Credit Cards – want to build prototype Government Grants like SBIRs and STIRs – want to build something better Angel Investors – want to sell something Venture Capital – are selling or just about selling Growth Financing (think Private Equity or Mezzanine) – are doing over $10 million in sales Public Markets via IPO – are doing over $50 million in sales
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VC Fund Structure
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CVF III Carry Allocation Vehicle, LLC (Delaware LLC; member managed) CVF Partners III, LLC (Delaware LLC; member managed) CVF III GP Investment Fund, LLC (Delaware LLC) Cayuga Venture Fund III, LP (Delaware LP) LP 2 LP 1 LP 4 LP 3 LP 5 CVF Management Group, LLC (Delaware LLC) (mgt co with contractual Agreement with Fund III, LP; member managed) $ Mgt Fee Services, etc. Mgt. Co. LLC members Zach Managing Partner Phil Managing Partner Limited Partners Of LP Members of CAV LLC GP LLC members LLC non-voting member Cliff Lardin Mgt Co. Employee 2 LLC non-voting members (not all employees are members) Portfolio Companies $ Invested 20% Carry Carry Split Mgt Co. Employee
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This note was uploaded on 01/30/2010 for the course AEM 1220 taught by Professor Lesser,w. during the Spring '08 term at Cornell University (Engineering School).

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Class___Presentation___VC_Basics - VC Basics Sources of...

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