1 SEB Företagsinvest - an active Venture Capital partner
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SEB Företagsinvest - an active Venture Capital partner
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A north european financial group
History Established player - SEB founded in 1856 Wallenberg family have a significant shareholding
Significant Resources Listed on Stockholm Stock Exchange with a
market capitalization of €13.2 billion Total Assets in excess of €210 billion €115 billion in Asset under Management Total Book Equity in excess of €6.4 billion
Global presence Local presence in ten countries + strategic
locations globally Over 20.000 employees
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SEB Group offers a full range of financial services
Group StaffHans Larsson/Per-Arne Blomquist
Group ITMax Currie
Group OperationsPia Warnerman
Internal Audit
Agneta Brevenhag
Group Credits & Group Risk Control
Johan Andersson
President & CEO
Annika Falkengren
Merchant Banking
Magnus Carlsson
Retail Banking
Bo Magnusson
Life
Anders Mossberg
WealthManagement
Fredrik Boheman
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Seed Capital Start-up Expansion Buy-out IPO M&A
Company life cycle
Enskilda Securities
SEB Acquisition Finance EUR 1.5bnSEB Företagsinvest - EURM 130
SEB Strategic Investment – EURM 100
SEB Private Equity – EUR 1.1bn
SEB is a significant player in the private equity market
KTH Seed Capital
In addition, SEB is an investor in EQT, Innovations Kapital, AskEmbla (Baltics) etc
Bank financing
Venture Capital
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SEB Företagsinvest- one of Sweden’s leading venture capital investors
Our business concept…We invest venture capital and supply expertise
and a broad network of contacts to growth
companies in the Technology and Life Science sectors
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SEB Företagsinvest in brief…
Evergreen fund structure SEK 1,200mNo. of existing investments 40No. of exits 35No. of investment professionals 14Established 1995
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Balanced portfolio vis-à-vis sector and maturity
Minority ownersMax. investment sum SEK 80mInvestment horizon of up to 7 yearsExits
SEB Företagsinvest in brief...
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Investment criteria
The company has a unique product or service with a sustainable competitive edge
Highly skilled management who are also partners in the company
Business concept with international market potential
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Active ownership- value creation
Powerful networksExperienced venture teamIndustry-specific expertiseClose co-operation with managementCommitmentBoard representation
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Professionals
Frederick Johansson Head of unit
Arpinée Åhrberg Assistant
Business DevelopmentTechnology
David Sonnek, PhD
Business DevelopmentHealth Care
Viktor Drvota, MD, PhD
Hans Engblom
Björn Österlund
Ola Romney
Senior Investment Managers
Jonas Nyman
Rickard Malmsjö
Investment Managers
Patrik Westerberg Stefan Olofsson
Anna Gustafsson
Ulf Lewander Anna Ljungdahl
Business Controller
Andreas Pennervall
Malin Carlström
Venture Analyst
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Portfolio - key figures
1996-97 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Portfolio, no of companies 9 8 15 27 35 37 38 39 40 38 40
Exits, no of companies 1 3 8 10 15 19 21 26 29 35 35
Cumulative paid out capital 50 70 220 360 580 755 910 1100 1220 1380 1450
No. of employees 3 4 7 11 12 13 13 14 14 16 16
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Co- investors
3i ABN AmroAbingworthApplied BiosystemsAlafi CapitalAtlas VenturesBankinvestBeijerBiofundBureCapManCentrecourtChalmersinvestCimonCirkusConcordia CapitalCR&TCredit SuisseDansk KapitalanlaegDanish Investment FundEMA EmanoFöretagsbyggarnaGE CapitalHealthcapH&B Capital
IDIIndustrifondenIndustrivärdenInnovationskapitalInvestor Growth CapitalKantonal BankKarolinska Investment FundKIHABLatourMalmöhusinvestMetallMetallicaMicrodrugNordic BioScienceNordic BiotechNovo ASOptiomiPomonaSchibstedt6:e AP-FondenSLSSkandiaSkanditekUniversalW-CapitalWallgrundÖresund
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Divestment of
to Aixtron AG
amount not disclosed
1998
Divestment of
to Aixtron AG
amount not disclosed
1998
35 Exits to date
Initial Public Offering of
on the Stockholm SE for
a value of SEKM 2,500
2000
Initial Public Offering of
on the Stockholm SE for
a value of SEKM 2,500
2000
Divestment of
to Nortel for
a total of SEKM 1,400
2000
Divestment of
to Nortel for
a total of SEKM 1,400
2000
The number 1
selling show world wide
Grand opening 1999
The number 1
selling show world wide
Grand opening 1999
Divestment of
to Segulah and founders
amount not disclosed
2004
Divestment of
to Segulah and founders
amount not disclosed
2004
Divestment of
to Astra Tech
Amount not disclosed
2005
Divestment of
to Astra Tech
Amount not disclosed
2005
Divestment of
to Biovitrum AB
Amount not disclosed
2005
Divestment of
to Biovitrum AB
Amount not disclosed
2005
Divestment of
to Motorola Inc
Amount not disclosed
2006
Divestment of
to Motorola Inc
Amount not disclosed
2006
Divestment of
to a consortium of
private investors
Amount not disclosed
2004
Divestment of
to a consortium of
private investors
Amount not disclosed
2004
Divestment of
to Wind River
For a value of $21.5m
2006
Divestment of
to Wind River
For a value of $21.5m
2006
Divestment of
to Crucell N.V. for a
min value of EUR 39,4m
2006
Divestment of
to Crucell N.V. for a
min value of EUR 39,4m
2006
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Investment focus
Growth companies within...
Technology Life Science
Technology Life Science
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SANOSBIOSCIENCE
Emers Holding
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Portfolio companies - Technology
»Develops and administers loyalty schemes within CRM
»A system for the manufacture of powerful, compact lasers in visible and infra-red wavelengths
»Platforms and products in telematics, e.g. elevator communication
»Software applications for technical decision support, based on visualised web technology
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Portfolio companies - Technology
»ABBA musical in London, Toronto, USA and Australia etc. 16 shows globally
»Software program for long-term planning and scheduling of personnel
»Software/consulting firm that provides activity-based and process-oriented management solutions
»Software solution for diagnostics and maintenance of complex and mission critical software control systems.
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Portfolio companies - Technology
»Develops and sells a software platform to telecom operators to help in their process of trading, pricing and routing international interconnect voice traffic.
»KTH Seed Capital invests in early stage high-tech companies relating Research and Development at Royal Institute of Technology (KTH).
»CAPRES develops new technology for direct nano- and micro- scale electrical characterization of materials.
»Develop and sell products, based on centrifugal separation, for purification of process air to several industrial applications.
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Portfolio companies - Technology
»ScandiNova develops and sells solid state modulators (high power pulse generators) for applications such as radar systems, lasers, radiotherapy systems, research accelerators and X-ray systems.
»Matrix is a supplier of architectural services in visualization and 3D modeling. Matrix offers attractively packaged solutions to industries such as real estate and whitegoods.
»Tail-f develops On-Device Management Software solutions for network equipment vendors, reducing development costs and speed time-to-market.
»SP Devices develops and markets signal processing electronics and algorithms.
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Portfolio companies - Life Science
»Technology for fetal monitoring during the final stage of delivery with focus on oxygen supply to the brain.
»Digital X-ray imaging based on photon counting
»Products for minimally invasive treatment of enlarged prostate
»Biotage AB is a leading supplier of complete solutions for Medical Chemistry Research and Applied genomic Analysis
»EMERS Holding is the holding company of Bactus AB and LightUp Technologies AB. LightUp markets PNA based probes for the diagnostic market within human infectious diseases. Bactus is a company dedicated to clinical and industrial microbiology with production of substrates for various applications.
Emers Holding
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Portfolio companies – Life Science
»Medical supplier of fertility systems, transplantation systems and biosupportive systems
»Develops extremely compact multi-parameter probes. The target group for these is international medical equipment companies working within the field of anesthesia, intensive care and emergency care.
»Sanos Bioscience is a drug discovery company which develops new compounds for its new proprietary glucagon-like peptide-2 (GLP-2) pathway for the treatment and prevention of osteoporosis. The company will focus on clinical studies aiming to confirm the promising results from pilot studies.
SANOSBIOSCIENCE
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Portfolio companies – Life Science
» Discover and develops so called DIMS drugs (DIMS: DNA-based Immunomodulary Sequence) for unmet medical needs in a variety of treatment areas such as inflammation and cancer. DIMS compounds contain oligonucleotides, which intreract with Toll-like Receptors (TLR).
»Nuevolution is a drug discovery company poised to revolutionize drug discovery and development by utilising its proprietary Chemetics ® technologies (molecular evolution) to rapidly identify vast amounts of drug-like, high affinity selective small molecules for virtually any target in weeks.
»Oligovation is a research-based company developing innovative tools for genetic analysis, molecular diagnostics, and gene-based therapeutics.
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Portfolio companies – Life Science
» DiLab develops and markets instruments for automation of measurement & analysis in early and preclinical in-vivo drug discovery.
»A Medtech company developing a new noninvasive accurate method for the diagnosis of malignant melanoma and other skin cancers.
» Develops novel diagnostic kits within the area of IBD (Inflammatory Bowel Disease).
»A Swedish medtech company which developes a new method to prevent brain damage by cooling of the brain.
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Our success factors
Active ownership
Growth in value
Analysis
»Skill and commitment
»Active measures to increase value and enable exits
»Careful selection
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Investment process
Evaluation of business plan
Meeting with the company
Preliminary due diligence
Proposal for term sheet
Additional due diligence
Final investment decision
Shareholders’ agreement
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