: 2013.12.19 ( ) 18:30 ~ 22:30 : CCVC AAI : : : ( )
< > 1. CCVC - - 2. Access America Fund, LP / AAI - IR 2
1st Class. 1. 1)! -> ->, -> -> -> VC!,! ->. π 2)! < > a. -, b. ( ) c. -,,! < > a. b. c. BM! a. b. Burn rate.! -? c.,. d..! <3F; Friends, Family, Fool>!! 3F a., VC. b.. c. Dumb Money. d.. 3F a.. b.. c.. d., VC. 3
e.,. < > a. b. c., R&D, R&D, < > a., ;,, b. : 3F < < VC c. / d. a. Dumb Money ~ Smart Money b. c. a.. - - b.. -. -,. c.. - 57%( ), 96%( ). -. d.. -. -. <VC> VC a. VC b. VC. c.,,. VC a. (, ) VC. b.. c..;. d.. 4
3) Exit! Exit! Exit Exit IPO 12 ~ 14 SPAC Buyout Strategic Alliance MBO EBO, SPAC 2 Secondary Sale IPO VC. Capital Cow ( ) Put Option Put Option * Secondary Fund. *. * Valuation - Pre-Value : - Post-Value : 5
1. 1 1 < > 2, 1 50%. 1 < > 2 3 33.3%. - By - 2. - - 4)! < >! a. b. a. ; CB,, a. a.,, 6
< >, ; (.) Exit ;,, ->.; VC.. 2. 1)!? : (Agreement) - - 2)! :,,,,,, :,,,, -. -. -. -.! ->. 7
3) Win-Win!. a. : +,-. - :,, - :,, - :,,! Needs. a. -. -. -.!. a.. b.. c.,. * CB EB BW.. Needs Win-Win. 8
2nd Class. 1)! ( ) :! ( ) :,,,! ( ) : 2)!. Action Plan. a. 5. b. 5. 3)! : Milestone for business! : Exibition for outsiders -> a. For Investors b. For Banks 4)! <?>! Exit? - 5, 2 ~ 3.!? ( vs ) -. ( )!? -! 5)! < >! Vision / Positioning! Product / Service : Uniqueness (. Earn money? )! Market / Customer : MKT size/volume?! Strategy for Market & Product! Team : Team Color! Offering : Amount, Price, Use Proceeds ( Cost) 9
! < >!! /! (,, )!! :,,! : (I/S, B/S, CF statement) - Product Marketing Financing Management.! a. b. c. 6)! :,,, -. -.!! - : (,, ) - : (, Color TV ) - : ( ) - : ( ) ->.! 7)! -? -? -?! -? -?! -? -? -?! - 10
8) Risk Factors!! :,!! :,! :! : BEP!! * Shareholder Stakeholder * Exit. *,,. 9) 7!?! - What is your product?!?! - Who is the customer?!?! - Who will sell it?!?! - How many people will buy it?! /?! - How much will it cost to design and build?!?! - What is the sales price?!?! - When will you break even?!?! - What is the Exit Plan? 11