Artemis Ventures, LLC Christine Comaford Managing Director Warp Speed: Investing in Internet Time

Artemis Ventures, LLC Bio § Engineer, entrepreneur, venture catalyst, VC § 5x entrepreneur, 2 IPOs, 3 M&A, $100 million raised in last 5 years § Seed stage VC fund specializing in business to business software/services § 1 other partner, Kimball Atwood

Artemis Ventures, LLC Agenda §How to screen deals faster §How to make investments faster §How to grow companies faster § Q & A

Artemis Ventures, LLC Rapid Deal Screening §DANGER: Avoid cycle-suckers! §Determine investment criteria and post on site § Encourage entrepreneurs to pre-screen themselves

Artemis Ventures, LLC Screening Criteria §Team (incomplete is ok, but SME is key) §Market (are there multiple multi-billion markets they are chasing?) §Stage (is concept ok or is pre-beta required?) §Referral source (who from and shameless name drop or true relationship?)

Artemis Ventures, LLC Via Web Site

Artemis Ventures, LLC Via Screening Sheet

Artemis Ventures, LLC Rapid Screening Tips §Funnel to pipeline in 24 hours §Clear calendar for rapid due diligence if need be §Make sure CEO is: l Execution-oriented l Humble, listener, not OVER-confident l Opportunistic l Has focused vision

Artemis Ventures, LLC Rapid Investing §DANGER: Invest now, due diligence later §Once screened, either invest or bail – avoid bridge loans!!! §Use standard, fair term sheets – let entrepreneur see template in advance §Set valuation expectations upfront – can be very revealing

Artemis Ventures, LLC Deal Flow Workflow 1.0 Investment Opportunities Collection & Distribution 2.0 Initial Screening 3.0 Preliminary Investigation 4.0 Due Diligence Mail Phone Referral Bio, Exec. Summary, Biz Plan 6.0 Rejection Phone 5.0 Deal Finalization Investment of Interest Potential Investment Investment Rejects

Artemis Ventures, LLC Assessment Scorecards § Team § Revenue Model § Market § Technology § Summary § Standard due diligence and interview forms

Artemis Ventures, LLC Rapid Investment Tips §Have 2 attorneys: l High profile general attorney l Fast moving, deal-oriented attorney §Term sheet doesn’t mean tons more due diligence – give one with 90%+ confidence §If your gut is uncertain, move on!

Artemis Ventures, LLC Rapid Company Building §DANGER: VCs and CEOS can be slackers… §You Need: l Killer Team (always be in recruiting mode for all types of team members!) l Killer Buzz (work it, baby!) l Killer Velocity (pull personal favors… often often often)

Artemis Ventures, LLC Rapid Company Building Tips §Monthly sessions with board l Alternate board meetings and working sessions l Each board member should leave with follow up items l VCs should provide “office hours”, do special projects §Velocity requires the right CEO

Artemis Ventures, LLC Have and Live By Values § Add Massive Value § Make and Keep Commitments § Take Ownership § Respect One Another § Be Positive § Seek Balance - Artemis Ventures Values, version 1.1

Artemis Ventures, LLC Do/Does You/Your Portfolio Have These? § Right market § Right product/service § Right timing § Right info § Right priority § Right connections § Right team

Artemis Ventures, LLC The Net-Net § Minimize Risk § Maximize Return § What Are You Doing To Ensure These?

Artemis Ventures, LLC Christine Comaford Managing Director Thank You!