SJF Ventures: Mission-Driven Venture Capital www.sjfund.com Regional Investment Roundtable on Sustainable Job Growth, Pittsburgh, PA June 5, 2006 Rick.

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Presentation transcript:

SJF Ventures: Mission-Driven Venture Capital Regional Investment Roundtable on Sustainable Job Growth, Pittsburgh, PA June 5, 2006 Rick Larson, Managing Director

2 Institutional Innovation  SJF Ventures Founded in 1999 with offices in Durham and Philadelphia $32MM under management in two funds Now investing from SJF Ventures II  SJF Advisory Services 501(c)(3) nonprofit Founded 2001 Entrepreneurial, workforce, and sustainability assistance to portfolio and prospect companies

3 SJF Investment Focus  Strategy and Sectors: Rapidly-growing companies whose competitive advantage includes environmental or workforce innovation. Sectors:  Clean technologies in mainstream markets  Technology-enabled business services  Premium and natural consumer products  Geographic Focus: Primarily eastern US  Investment Size: $500K to $1.5MM investments, independently or with a syndicate in rounds up to $7MM  Investment Stage: Expansion-stage companies with revenues of $1MM to $20MM at an inflection point for growth

4 Clean Technologies Example Location:Titusville, PA and Harrisburg, PA Business Description:Salvage Direct provides salvage vehicle management services and hosts online auctions for the auto insurance industry. SJF Investment:$575K, September 2002 Jobs Creation:27 jobs at investment, 64 jobs today (70% entry-level) Highlights:Rapid, profitable growth, $2MM 2002 to $11MM 2004 Efficient automotive reuse and recycling Rural Appalachian revitalization Quality employment and supportive culture for advancement

5 Business Services Example Location:Nelsonville, OH Business Description:Ed Map provides software tools, management support and fulfillment services that help institutions and corporations manage educational materials distribution for distance learning programs. SJF Investment:$607K, March 2004 Jobs Creation:23 jobs at investment, 60 jobs today (58% entry-level) Highlights: Revenue growth - $1.5MM in 2003, $12MM in 2004, currently at a $36MM annual run rate Quality jobs in rural Appalachia with community revitalization

6 Consumer Products & Exit Example Location:Harrison, NY and Yonkers, NY Business Description:DDF produces skincare products, including cleansers, moisturizers, anti-aging and acne treatment products SJF Investment:$200K, November 2001; $610K exit, April 2004 Jobs Creation:75 jobs at investment, 132 jobs at exit (73% entry-level) Highlights:3X return in 2.5 years for a 67% IRR Early exit through sale to private equity fund Employee stock option plan and other benefits Relocation to expanded facility in Empire Zone in Yonkers, NY