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Europas 2014

Global Venture, Local Capital

European Technology Investors

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Highlights 2013 was a busy year for DFJ Esprit

MTT Neul Horizon 22 deals in 2013, Top 3 most active later stage 7 news deals – Sweden, Denmark, Ireland x2, Finland x2, Austria Lyst – Balderton/Accel upround, 6x growth forecast Graze – 110k in 3 months in US launch, upping forecasts $514m sale of Kana Only UK Nasdaq IPO – Oxford Immunotec $390m Market Cap. 4 portfolio in Future50 IPO list – Horizon first out next week Hired Gil Dibner from Index, promoted Scott Sage, Won VC of the year DFJ network spin out – join board

Graze

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Innovation Creates Opportunity Major innovations in last ~10-15 years

Broadband

Wireless comms: Bluetooth/Wifi

Ubiquitous email

Touch interfaces

Electronic Ink

TV over internet

Cybersecurity

Internet ads and commerce / The Long Tail

Electric cars

Wind farms / solar farms

Smartphone/apps

Social Networks / Social Comms

DFJE / DFJ Network Companies

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Innovation Never Stops Creating Opportunity

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Major innovations in next ~10-15 years

Internet of things: 50 bn devices

Social curated E-commerce: The Long Nose

Social enterprise

Personalised Medicine / Wellness

Cyberwarfare

Cloud / Realtime / Big data

End to end digital advertising / commerce

Software defined networks

Robots / AI / Cars / Vision

3D printers / DNA printers

Quantum / Post Moores law computing

Next Generation Space Industry

???

DFJE / DFJ Network Companies

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Entrepreneur Networks:

Growth Technology Companies in Europe

Invested Capital

Our Investor Networks: LP, Governments, Corps &

Angels

Exit networks Global M&A buyers

Global DFJ Network

Primary Team Angel

Team Secondary Team

High IRR Returns

Our Business: Connecting Networks Growth

Developing Opportunities

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Number of Small (< $ 5M) vs. Mid/late stage (> $ 5M) VC Deals – USA and Europe

USA

Seed / small Mid/late stage

Europe

Creating Opportunities in Europe (it’s the follow-on, stupid)

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Established Regional leaders

Pan-European Brand names

The size of the bubble represents approximately total funds the firm has under management for Western Europe.

US VCs investing in Europe 1-2 deals

o Sequoia

o KPCB

o Bessemer

o Foundation

o DAG

o IVP

o Greylock

o Battery

o Insight

o And others

NB: Excluding corporate, CleanTech & Life Science funds

Scandinavia Benelux Spain France Germany/Swiss UK/Ireland

Accel Europe Incl. Israel & Russia

Balderton

Mangrove Northzone Ventures

Earlybird

DFJ ESPRIT

Verdane

Index Ventures Incl. US/Israel

SEP DN

Prime

Kennet Incl. US

Partech Sunstone

Innovacom

Atomico (Global)

Creandum Notion

IDinvest Iris Highland

Europe Holtzsbrink

Dawn Nauta

Omnes Capital

European Venture Community: A handful of larger funds can focus on $5m+ gap

Seventure

Innovation Capital

Auriga/ Ventech Edrip/ Banexi

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Sofinova

X-Ange

GIMV Octopus

Imperial innovations

Wellington

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2013 >$5m deals (VentureSource) including follow-ons announced No Investor Deals Companies

1 Index Ventures 14 Elasticsearch B.V., Far-Fetch.com Ltd., Funding cirle Ltd, Gensight Biologics SA, MetaPack Ltd., Mind-NRG SA, MyOptique Group Ltd., Navabi GmbH, NumberFour AG, OncoEthix SA, Touchtype Ltd., TransferWise Ltd., XO1 Ltd., Trustpilot

2 DFJ Esprit LLP 9 M-Files Oy, Movidius, Neul Ltd., Sportpursuit, XMOS Ltd., ZBD Displays, Aveillant, Trustpilot, Lyst

2 Sofinnova Partners 9 Green Biologics Ltd., Hookipa Biotech AG, McPhy Energy SA, MedDay SAS, Mission therapeutics Ltd., ObsEva SA, Pixium Vision SA, Auris Medical AG, Crescendo Biologics Ltd., Crocus Technology SA

2 Ventech SA 9 JH Group SA, Shopmium SAS, Vestiaire Collective SA, Withings SAS, ActogeniX NV, Ad Valem Technologies SAS, BonitaSoft SA, Covagen AG, Crocus Technology SA

3 IDInvest Partners 8 Vestiaire collective, Withings, Crocus Technology, Gential SA, Grand Cru OY, PathoQuest SAS, Plumbee, STAT- Diagnostica & Innovation SL

3 Omnes Capital 8 Complix NV, Cooltech Applications, EyeTech Care, Futuris SpA, Gecko Biomedical SAS, Opsona Therapeutics, Pixium Vision, Supersonic Imagine

4 EdRIP (Rothschild) 7 OncoEthix SA, SuperSonic Imagine SA, Allecra Therapeutics GmbH, Complix NV, Covagen AG, Genticel SA, Jenavalve Technology GmbH

4 Wellington Partners 7 SuperSonic Imagine, EyeEm Mobile, Genticel SA, Hailo Network, Immatics Biotechnologies, LeanWorks, Middle Peak Medical

4 Accel partners 7 Touchtype, Calastone, Shopmium, Friendly Fashion, Hailo Network, Funding Circle, Lyst

5 Gimv NV 6 ActoGeniX NV, Complix NV, Covagen AG, JenaValve Technology, Multiplicon NV, PlanetVeo/Prestige Voyages

5 Iris Capital 6 iMediapp SAS, Mister-Auto SAS, Netatmo SAS, PlanetVeo/Prestige Voyages, rebuy reCommerce, DelfMems

5 Seventure Partners 6 Middle Peak Medical, Navali GmbH, Recommerce Solutions, STUDITEMPS, Advanced accelerator Applications, EndoControl

5 Xange Private Equity 6 Mister Spex, Mobile’S Republic, mysportgroup, NovaWatt, STUDITEMPS, Compario

5 Balderton 6 GoCardless, Vestaire Collective, Worldstores, MBA Polymers, Abiquo, Lyst

6 Forbion Capital Partners 5 UniQure, Allecra Therapeutics, Curetis, Dezima Pharma, Hookipa Biotech

6 Imperial Innovations 5 Crescendo Biologics, Econic Technologies, Mission Therapeutics, Plaxica, Pulmocide

6 Octopus Ventures 5 Kabbee Exchange, Leanworks, Touchtype, Amplience, Calastone

DFJE in top 10 most active later stage VCs ($5m+ deals, primary and secondary follow-ons)

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Curr

ent I

nves

tmen

ts

Enterprise Software

Digital Media & Internet

Hardware & Electronics

NextGen Telecom & Mobile

Health and Wellness

Pre

viou

s Exi

ts

(IPO)

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* Fund 3 deal

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Well Balanced Portfolio Cross Stage, Industry & Geography

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(IPO)

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Secondaries: 9 portfolio Deals, 140+ Companies August 2004

Acquisition of WestLB AG

European venture portfolio

19 companies3

December 2005

Acquisition of Siemens AG wireless venture portfolio2

19 companies 3

February 2006

Acquisition of a UK Technology venture portfolio

4 companies 3

Undisclosed

March 2006

Spinout of Cazenove European venture portfolio

35 companies

£80,000,000

April 2006

Acquisition of Viventures 2 venture portfolio

14 companies 3

March 2008

Acquisition of The Prelude Trust

14 companies Public to Private

£50,000,000

May 2008

Acquisition of venture assets From BNP-Paribas

3 companies3

September 2009

Acquisition of 3i European venture portfolio

22 companies

£170,000,000

April 2012

Acquisition of Top Technology venture assets

8 companies3

1 On 1 Jan 2012, DFJ Esprit and Tempo Capital Partners joined forces to create DFJ Esprit Secondaries 2 Co-advisors: smac partners GmbH3 Consideration undisclosed

Tempo Capital 1

DFJ Esprit 1DFJ Esprit Secondaries

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For further information please contact:

Simon Cook – CEO , DFJ Esprit

Tel: +44 207 931 8800

DFJ Esprit LLP

www.dfjesprit.com

14 Buckingham Gate

London, SW1E 6LB

United Kingdom

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