Early Growth Stage Investors

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18 Νοε 2013 (πριν από 3 χρόνια και 6 μήνες)

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®

Harbert
®

Venture Partners II, L.P. |
1

© July 2010 │ Harbert Management Corporation

®

H
ARBERT
®
M
ANAGEMENT
C
ORPORATION

Harbert
®

Venture
Partners


Bob Crutchfield

Early Growth Stage Investors

Southeast Regional Technology Transfer Directors Meeting


Atlanta, GA July 30, 2019

®

Harbert
®

Venture Partners II, L.P. |
2

HARBERT MANAGEMENT CORPORATION



One of the Leading Asset Management Firms in the Southeast

Approximately
$3 billion in
assets and committed
capital, 11
asset classes


Legal, Accounting, Compliance and Investor Reporting Functions

These operate in conjunction with, but independent of, HVP’s core team of

investment professionals, allowing the venture professionals to focus solely on managing the HVP portfolios


HMC Also Provides Investment Support


Putting Our Money Where Our Investments
Are

Strong Investment Infrastructure


Harbert Management Corporation


Raymond J. Harbert, CEO

Michael D. Luce

President & COO

David A. Boutwell

EVP & CAO

Business
Development/

Investor Relations

Risk
Management

Legal

Compliance

Charles D. Miller

EVP & CFO

John W. McCullough

SVP & General
Counsel

Communications

Accounting

Investor
Reporting

Internal

Audit

®

Harbert
®

Venture Partners II, L.P. |
3

Harbert Venture
Partners Investment Team




Partners average 20 years in working with the Southeast venture
-
backed community



Core team has worked together since
2002, individual
working relationships extend
back to mid
-
1990s

Team

Role

Tenure

Portfolio

Focus

Will Brooke

Managing Partner

20+

Aldagen
, IBI,
Maxcyte
,
Novamin
,
Optimal IMX

Healthcare

Wayne Hunter

Managing Partner

8

Broadsource
,
Intelliject
,
Peoplematter
,
Privaris

(observer),
Unitrends
, Yap


Technology

Tom Roberts

Partner

8

Agility
,
Clarabridge
,
Controlscan
,
JackBe
,
Windchannel

Technology,
Healthcare IT,
Cleantech

Bob Crutchfield

Venture Partner

2

IBI (observer),
Novamin

(observer),
Optimal (observer)

Healthcare
Services, IT,
Devices

John Uhrin

Venture Partner

8

Aldagen

(observer),
nContact
,
Intelliject

(observer)


Devices, Biotech

Brian Carney

Principal

3

Agility
(observer),
JackBe

(observer),
Privaris
,
Windchannel


Technology,
Healthcare

Jenna
Spork

Analyst

1


-

Support

®

Harbert
®

Venture Partners II, L.P. |
4



HVP
Investment Strategy
:
Early Growth Stage Discipline


Identify and track promising early stage companies


Invest in companies in the adoption phase in an attempt to mitigate risk and the time to achieve positive
EBITDA performance


Track
pre
-
investment
milestones that mitigate technology and market acceptance risk


Average period from introduction to initial funding for HVP
portfolio
is over
[12 months]

HVP invests in companies when we believe they are ready to scale their product and have a
visible path to value
creation:

IMPORTANT NOTICE:

The Fund’s approach to a particular investment may vary depending on the nature of the investment, current market conditions
o
r other factors.

Early Growth Stage Focus

Profits/Customer

Traction

Early Stage

Growth Stage

HVP

®

Harbert
®

Venture Partners II, L.P. |
5

HVP
Investment Focus


Inefficient Markets

Major entrepreneurial markets underserved by capital



Greater Washington DC Metro


IT, Healthcare



Research Triangle Park, NC


Healthcare, IT



Atlanta, GA


IT, Devices



Orlando/Tampa/Gainesville, FL


IT, Healthcare



Birmingham, AL


Healthcare Services, Healthcare IT



Nashville and Memphis, TN


Healthcare Services and Healthcare Device



Richmond/Charlottesville, VA


Healthcare, Healthcare IT

Major Entrepreneurial Markets:

Secondary Entrepreneurial Markets:

Major Entrepreneurial Markets

Secondary Entrepreneurial Markets

®

Harbert
®

Venture Partners II, L.P. |
6

Agility Healthcare Solutions, Inc.

Richmond, VA

www.agilityhealthcare.com


Company Status:

Sector:



Description:






Total Investment:


Initial Investment:



Exit:


Syndicate:



HVP II Ownership:

HVP II Board Member:



Exited HVP I & II portfolio company

Healthcare IT

Agility provides business process optimization solutions targeted at hospitals and other
acute care facilities. The Company combines its proprietary software and
implementation services with RFID and other location tracking technologies to provide
significant ROI for hospitals in transforming their enterprise patient care management
and operational workflow.

$800,000 (HVP II), $2,500,000 (HVP I)

In August 2008, HVP II structured and led a bridge round of financing to the Company.
HVP I led all prior rounds of venture financing.

Agility sold to GE Healthcare on September 29, 2008.
1

The Aurora Funds, Eastside Partners, Lunsford Capital

N/A

Tom Roberts, who played a very active role in managing the exit, resigned from the
board upon the closing of the GE acquisition.

Agility Healthcare Solutions, Inc.
HVP I/II
Portfolio


1. Returns for HVP I at exit were 2.44x invested capital (79% IRR) and 1.16x invested capital (over 200% IRR) for HVP II, not

i
ncluding escrow proceeds. IRRs and multiplies are
calculated at the investment level and are unaudited and gross of fund level fees and expenses, including the management fee,

an
d incentive allocation, if applicable. IRR is an
annualized calculation, and results can be skewed for periods less than a year.


IMPORTANT NOTICE:

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.



®

Harbert
®

Venture Partners II, L.P. |
7

NovaMin Technology, Inc.

Alachua, FL

www.novamin.com


Company Status:


Sector:



Description:





Total Investment:


Initial Investment:


Current Round:


Syndicate:



Current HVP II Ownership:

HVP II Board Member:



Exited
HVP II portfolio company

Healthcare

NovaMin

is establishing its proprietary oral health care technology as the next
generation active
-
ingredient foundation for consumer oral health care and professional
dental products.
NovaMin

addresses rapidly growing, unmet oral care needs by
amplifying the natural biological defenses and repair mechanisms of the mouth.

$2,500,000

In September 2008, HVP II led the Preferred Stock financing for
NovaMin
.

Series D of $5,000,000

Intersouth

Partners

17.9%

Will Brooke


NovaMin Technology, Inc.



HVP II Portfolio

®

Harbert
®

Venture Partners II, L.P. |
8

HVP Investment Strategy
-

Proprietary
Deal Flow

Early prospect
identification

Long term
tracking

Entrepreneur
relationship
development

Proprietary
investment
opportunities

Community
leadership

C
O
-
C
HAIR

2008 & 2009

C
O
-
C
HAIR

2009

C
HAIR

2004
-
2006

I
VY

F
UND

S
ID

M
ARTIN


I
NCUBATOR

CHAIR 2010

®

Harbert
®

Venture Partners II, L.P. |
9

Harbert Venture Partners
History




Innovation Developed/Discovered



Commercialization Pathway Determined



Legal, Licensing, IP Covered



Proof of Concept Funding








Seed Stage Funding



Angel Investors



Venture Capital


How Can Venture Capital Help SRTTDs?



Commercialization Vetting



Mentoring/Strategic Guidance



Introductions to Entrepreneurs



Introductions to Seed Stage/Angel Capital



Financial Support & Participation Venture Forums