Keiretsu Forum plans new Chapters in Madrid and Singapore

Keiretsu Forum, the world’s largest and fastest growing business angel network announced today the establishment of new chapters in Spain and the Republic of Singapore. Working with the Keiretsu Forum in Barcelona, now in its third year of operation, Madrid investors will open the 19th Chapter of the Keiretsu Forum in January 2010. Also in Q2 10, Keiretsu Forum will open a Chapter in Singapore.

“We are pleased that our model of bringing together experienced and trustworthy investors to review quality business plans and share investment information continues to resonate worldwide,” said Randy Williams, Founder/CEO of the Keiretsu Forum.

“During the past nine years we have seen our membership grow from a group of 20 in the San Francisco East Bay to 860 members worldwide,” said Williams. “We know the private equity markets are changing worldwide. It is gratifying to know that off-shore investors want to affiliate with Keiretsu Forum.”

Keiretsu Forum members belong to chapters in the East Bay (Founding Chapter), San Francisco, Silicon Valley, North Bay, Seattle, Bellevue, Portland, Boise, Sun Valley, Denver, Los Angeles, Westlake Village, Orange County, San Diego, New York/Tri Cities, London, Paris, Barcelona and Beijing.

The new Madrid and Singapore Chapters bring the total of cities where meetings are held to 20. Plans are underway to start new chapters in Latin America, other cities in China, and the EU.

Keiretsu Forum Barcelona aids young entrepreneurs

Xavier Casares, presidente de Keiretsu BCN, durante un reciente foro. Foto: ÁLVARO MONGE

ANDREU FARRÀS
BARCELONA

Tarde de lluvia en el paseo de Gràcia. Mientras los turistas buscan refugio junto a los escaparates de las tiendas de marca, un centenar de personas escuchan en los sótanos de la Bolsa de Barcelona a cinco jóvenes que les están pidiendo dinero para «un gestor de proyectos profesionales open-source con doble licencia», «un sistema que reserva mesas en restaurantes en tiempo real», «un identificador de productos por radiofrecuencia», «una cartelería digital interactiva low cost para pequeños comercios» y «un motor gráfico que desarrolla videojuegos de alta calidad».

Las detalladas presentaciones de los cinco emprendedores ayudan al auditorio a comprender lo que en una primera impresión resulta ininteligible para el común de los mortales. El público está compuesto por personas de más edad, experiencia y capital que los presentadores, algunos de ellos veinteañeros. Unos y otros han sido convocados por Keiretsu Forum, la red de inversores privados más importante del mundo, que este mes celebra el segundo aniversario de su desembarco en Barcelona.

Por eso, entre los oyentes hay bastantes business angels dispuestos a echar una mano a los emprendedores si les gusta lo que les proponen. Lo pueden hacer abriéndoles puertas, aportando su tiempo, invirtiendo dinero o todo a la vez. Carlos Blanco, presidente de ITnet, especializado en software e internet, es uno de estos ángeles. En la reunión en la bolsa, Blanco vio algunos proyectos interesantes y observó un detalle inédito: «Por vez primera he visto muchos representantes de grandes fondos de capital y de familias adineradas de Catalunya».

Decepcionados con el ladrillo, parece que los grandes patrimonios catalanes empiezan a explorar otros territorios.

Sin embargo, aún falta algún tiempo para que decidan plantar sus tiendas en esta tierra ignota, donde se vislumbran muchas potencialidades, pero riesgos considerables. Como recordó durante la sesión Xavier Casares, presidente de Keiretsu Barcelona, después de 11 foros de inversión y 400 proyectos analizados, sus miembros han inyectado capital en tres empresas por un volumen total de 1,2 millones de euros. «Pero lo importante es el cambio de tendencia. Si queremos cambiar de modelo productivo se debe apostar por estas empresas», insiste Blanco. «Representamos la nueva economía real, basada en crecimiento sostenible e innovación», remata Casares.

La inversión que solicitaron los emprendedores en su presentación no era exorbitada. Una de las empresas que se postularon, Teambox, pidió 150.000 euros. Tres de ellas, entre 300.000 y 600.000 euros. Y Revistronic, un millón. Uno de los asistentes veteranos comentó que para bastantes de los inversores presentes aquellas cifras eran muy bajas. «Pero aunque para ellos sea una propina, a nosotros puede abrirnos todo un mundo nuevo», respondió un emprendedor.

Al final de todas las exposiciones, Xavier Casares pidió a los postulantes que salieran de la sala, para que los inversores pudieran criticarlos. La mayoría de los comentarios fueron elogiosos –por algo es de lo poco que no pasa factura–; se puso en duda la viabilidad del proyecto sobre videojuegos –«son como las películas: o se ven mucho o no las ve nadie»–, y más de uno criticó el nombre de una de las compañías, Revistronic.

Unos días después de la presentación, el presidente de Teambox, Pablo Villalba, de 23 años, ya tiene comprometida la inversión de un tercio de los 150.000 euros que había pedido en aquella comparecencia para su proyecto de gestor open-source.

Keiretsu Forum Northwest Angel Capital EXPO 2009

Contact Person: Todd Dean, President
Keiretsu Forum Pacific Northwest
todd@keiretsuforum.com

Angel Capital Expo 2009
Hosted by Keiretsu Forum Northwest

Microsoft Conference Center
October 20, 2009, 7:30am – 4:00pm

Please join us for the First Annual Northwest Angel Capital Expo, hosted by Keiretsu Forum Northwest, on Tuesday, October 20, 7:30am - 4:00pm, at the Microsoft Conference Center.

Angel Capital Expo is a premier gathering of the Northwest investment and angel capital community. Expo was created to foster collaboration among angel groups and to reach out to the larger investment community.

This event is open to Keiretsu Forum members and accredited non-members alike and is expected to attract more than 200 angel investors.

Angel Capital Expo will feature 10 companies presenting diverse investment opportunities in technology, healthcare/life sciences, consumer products and real estate. It will also include keynote speakers Tom Huseby, managing partner of SeaPoint Ventures; Nolan Bushnell, founder of Atari; and Leo Grohowski, CIO of BNY Mellon Wealth Advisory.

This first annual Angel Capital Expo in the Seattle area follows successful Angel Capital Expos held in the Bay Area by Keiretsu Forum chapters in northern California. The cost for non-Keiretsu Forum members to attend the event is $179 until October 9, and $229 after that date.

To make reservations to attend, please email Carissa Harrison at carissa@keiretsuforum.com or call 206-529-3687.

Dream team again!

From Top:

Greg

Josh

Ankur

Hope,

Amy

Lauren and Brendan

Kristi (K4 EB/SV Membership Director), Jake, Jessica

The 2009 "Dream Team" at Keiretsu Forum

From the left, top down:

Greg

Josh

Ankur

Hope

Amy

Lauren and Brad,

Kristi (Keiretsu Forum Membership Director, East Bay/ Silicon Valley) Jake, and Jessica.

Keiretsu Forum 2009 Dream Team

Keiretsu Forum Salutes our 2009 Interns

We are proud to honor our current Keiretsu Forum northern California interns for their outstanding help and support. They are the “Dream Team.” They work as Angel Capital Fellows or as Business Development Associates. They come from a cross section of colleges and universities and from graduate schools across the United States. Some joined Keiretsu Forum after completing their educations to gain hands on experience with business angel investing and entrepreneurship. Here are their pictures and brief bios.



Jessica Hitchens is a 2009 Keiretsu Forum Angel Capital Fellow. Jessica is an integral part of the corporate team at Keiretsu Forum where she provides data base and administrative support in the office at Forum meetings in the East Bay and Silicon Valley. She is also working on the ALLIANCE program. Jessica is a graduating senior at Saint Mary’s College of California, where she majors in Economics and minors in Mathematics. While maintaining a 3.94 GPA, she participates in the Academic Honor Council, tutors economics and mathematics, and welcomes incoming freshmen to the resident halls as a Resident Advisor. In her spare time, she enjoys reading, cooking, and learning how to knit.

Hope Thurman joined the Keiretsu Angel Capital Fellows program in June 2009. Native to the Bay Area, she will be finishing her undergraduate studies within the School of Arts and Architecture at UCLA this coming fall. Hope strives to be team oriented with specific goals to encompass everyone’s ideas. Hope works in the Lafayette Office providing data base and administrative support to Keiretsu Forum meetings and marketing events, and promoting corporate team building.

Ankur Shah hails from Gujarat, India. During his undergraduate studies he managed a gold jewelry manufacturing firm (Labhlaxmi) for 2 years; he was responsible for finance and managerial activities. At Labhlaxmi, he introduced new products, designed customer acquisition plan and articulated operation optimization strategies. Ankur recently received his MBA in Int’l finance & Globalization/Localization from the Monterey Institute of International Studies in Monterey, CA. Ankur has 2 years of experience as a consultant working with start-ups & SMEs providing strategic planning, finance and business development solutions. He is also a Level 2 candidate for Chartered Financial Analyst (CFA) program. Ankur’s career goal is to be a “T” personality: in-depth knowledge of finance and broader knowledge of different industry models to guide entrepreneurs to success. Ankur’s primary assignment is working with the Keiretsu Forum India Advisory Team.

Jacob Zitter graduated last May from the Stephen M. Ross School of Business at the University of Michigan with a Bachelor of Business Administration. He concentrated in Finance while completing a Minor in Mathematics, earning Highest Distinction honors. Always fascinated with the Venture Capital industry, Jacob left the Midwest thrilled to join Keiretsu Forum. Before relocating, he gained experience working for the Duman Microenterprise Center, a non-profit micro-lending fund in his hometown of Chicago. In his free time, Jacob enjoys playing basketball, following his favorite sports teams, and exploring the San Francisco Bay Area.

Lauren West was raised in Martinez, CA and left home to receive her B.S. in Business Administration-Finance at Cal Poly San Luis Obispo. She believes personal growth arises from taking risks and hard work. Her future aspiration is a career in financial services for that is where her passion lies. Hobbies include spending time with family and friends, painting, and working toward strengthening the community. At Keiretsu Forum, Lauren reaches out to potential members and sponsors to increase the equity investing environment.

Greg Palm is a senior economics major attending Gustavus Adolphus College in southern Minnesota. He has a passion for the stock market and co-manages the scholarship fund as part of his duties as co-president of the Gustavus Adolphus Investment Club. Along with his passion for investing, Greg also is an avid sports fan. He plays golf for Gustavus and enjoys basketball, hockey, and fishing. Greg plans to attend graduate school for a Masters in Finance after he graduates next spring and hopes to be working on Wall Street someday.

Tom Shanahan studies economics at UC Berkeley. He decided to intern at Keiretsu because of his interest in venture capital and entrepreneurship. Tom says Keiretsu has provided him with exposure to both fields. His passions include running, skiing, and CAL football.

Rasiaut Suebwongpat received his bachelor’s degree in electrical engineering from Chulalongkorn University, Bangkok, Thailand. After graduation, he was an Analyst at Bangkok Bank PLC, where he gained experience in financing medium-size engineering companies. He came to the US for his masters’ degree and for exposure to the world’s largest financial market. Rasiaut attended the University of San Francisco and received his masters’ degree in finance. He is looking forward to a career path in international investment, especially in Private Equity. He believes the internship at Keiretsu Forum is definitely a precious experience.

Special Keiretsu Forum Invitation to the European Tech Transfer Summit

The 3rd annual European Tech Transfer Summit – Getting Science off the Bench – and to the market.

24-25 September 2009, Lille, France www.techtransfersummit.com

The European Tech Transfer Summit is ideal for angels, serial entrepreneurs, and anyone working with early stage biotech start-ups or licensing deals and intellectual property. It is designed to capture value from world-class life sciences research, through licensing or through the formation of companies that understand the science and business, and that have an understanding of their market and their potential clients as well as strong IP positions. The European Tech Transfer Summit is a unique initiative for which Keiretsu Forum has arranged for a special 25% discount for our members by selecting Keiretsu Forum from the list of partners. Keiretsu Forum members worldwide should contact Judith@keiretsuforum.com for the code.

Reserve your place, click here to
REGISTER NOW
http://www.eurobio-event.com/program_European_Tech_Transfer_Summit.php

The European Tech Transfer Summit is the pioneering initiative bringing together leading thinkers, innovators, practitioners and decision-makers from big industry, university and institute tech transfer offices, serial entrepreneurs, and the leading VCs and IP and legal experts in a unique, exclusive and high level interactive Summit for discussion, debate, exchange of best practices, and focused relationship building and partnering for the real world of biotech business.

Participation is limited to just 250 participants to ensure the right format and the ideal conditions. Real discussion, real interaction, real business.

Keiretsu Forum New York President Larry Chaityn quoted in the WSJ

By TY MCMAHAN <http://online.wsj.com/search/search_center.html?KEYWORDS=TY+MCMAHAN&ARTICLESEARCHQUERY_PARSER=bylineAND>

Early in his career as a venture capitalist, Steve Brotman received a knock on his office door and in walked a woman dressed from head to toe in an outrageous green costume. She reached in her bag and served Mr. Brotman a business plan for a company that had “avocado” in its name.

“Regardless of whether I was interested, you lost me at hello,” Mr. Brotman, now the managing director of venture-capital fund Greenhill SAVP in New York, says he told her. “I’m not about to do a deal with a lady dressed like an avocado.”

It takes much more than a gimmick to get the attention of venture capitalists. As a growing number of entrepreneurs compete for a shrinking pool of capital, it’s more important than ever to make a good first impression with an airtight pitch.

Daniel Baxter
Venture-capital investment fell about 50% in the first quarter to $3.9 billion from $7.78 billion in the same period a year earlier, according to VentureSource, an industry tracker owned by News <http://online.wsj.com/public/quotes/main.html?type=djn&symbol=NWS> Corp., which also owns Dow Jones & Co., publisher of The Wall Street Journal. That was the lowest quarterly total since 1998 and significantly below the $5.95 billion invested in the fourth quarter of last year.

Even so, investors say capital remains available for promising start-ups. With that in mind, here is a look at what venture capitalists say are the common mistakes made by entrepreneurs making presentations:

Modesty Doesn’t Pay
Venture capitalists say that they invest in people, not just ideas. Yet the most common mistake entrepreneurs make when pitching to venture capitalists is failing to present themselves well, says Mr. Brotman. “A pitch is like going on a date,” he says. “A lot of entrepreneurs don’t introduce themselves. They might give you a name and a business card; other times they’ll go straight into the pitch. That’s like going on a first date and saying, ‘Let’s get it on.’ ”

If an entrepreneur has been successful in the past, they need to say so, says Mr. Brotman, pointing out that modesty could equal a missed opportunity. “Seasoned entrepreneurs often downplay their experience and stuff it in the back of the pitch, and they shouldn’t,” he says. “People buy into other people. They buy their story.”

In addition to introducing themselves, entrepreneurs should introduce the other members of their team and allow them to talk. Venture capitalists say they want to know that they can trust the other people involved in the business.

‘Tell It to Mom’
Canaan Partners, a Menlo Park, Calif., firm that invests in technology and health-care companies, says it has endured many bad pitches over the years, including one in which the vice president of sales for a start-up fell asleep just as the chief executive was hitting his stride during a presentation. “The CEO kept blazing through his pitch, acting like it wasn’t happening,” says Gina Vakili, Canaan’s director of marketing.

The firm passed on that deal, but its experience with bad pitches led to the creation of the Entrepreneur Pitch Workbook, essentially a “Dummies” guide to pitching venture capitalists. Among the book’s suggestions: Practice so that a pitch will last one hour, including time for questions; prepare a 12- to 20-page slide presentation and bring hard copies; arrive 10 minutes early to set up; and dress business casual, unless you’re more comfortable in a suit.

When it comes to the presentation itself, venture capitalists say it should be coherent and focused. Don’t dance around questions, especially if they are asked multiple times in different ways. Be thoughtful and willing to explain concerns with the business.

“What’s most important is to adequately explain all the assumptions on which the plan [is] based,” says Larry Chaityn, New York chapter president of Keiretsu Forum, a global network of accredited angel investors. “Less is more. We want them to present a wealth of information in very few words.”

Presentations should also avoid jargon. “I always say, ‘Tell it to your mom,’ ” says Kylie Sachs, a partner at Ascend Venture Group LLC, a private investment-management firm based in New York. “Explain it like you would explain it to your mother.”

Entrepreneurs should assume the investor believes the technology works, venture capitalists say. The presentation should focus on how a solution to a problem makes money, rather than explaining how the science works. “I want to know about the business of the business, not a tech demo for the first hour of the discussion,” says Jeanne Sullivan, a general partner at New York-based venture-capital firm StarVest Partners LLC.

Don’t Play With the Numbers
ntrepreneurs could hurt their credibility if they overstate the revenue opportunity for their product or service. That is why it is important that entrepreneurs be able to differentiate between market size and the addressable market for their idea. Take a food maker. The firm’s addressable market isn’t everyone who eats, but rather the people who eat the specific thing it makes. Saying, “We just need 0.1% of the population of China to be a success” ignores the importance of identifying and describing the target customer, says Ms. Sachs. “That’s just math that tells me nothing,” she says. “Also, if you tell me your financial projections are conservative, I’ll look for a way to prove you wrong. I need you to show me how it scales and becomes profitable.”

Ms. Sachs advises against revealing a valuation during the initial pitch. For example, don’t tell an investor you are selling 25% of the company for $4 million, she says. Similarly, avoid negotiating too early. Ms. Vakili, of Canaan Partners, says entrepreneurs who come in and say, “Before we get started, I’d like you to know that we have multiple term sheets on the table” make the firm wonder, “Then why are we meeting? Why are you here having a first meeting if you’re at the term-sheet stage with other firms?”

Stay on the Radar
The chance to make an impression doesn’t end when you walk out of an investor’s office. Mr. Brotman says he is often surprised at how many entrepreneurs disappear from his radar screen after the initial presentation. With the number of requests for meetings that investors receive, just getting an invitation to present your idea means there’s genuine interest. Even if they receive a “no” in the first meeting, entrepreneurs should stay in touch with investors. While the investors may not be interested in backing the start-up, they may share it with others who are.

Addressing concerns brought up during an initial meeting is a good way to reconnect with an investor, venture capitalists say, so promptly answer any outstanding questions that came up during the presentation.

Finally, when evaluating offers, entrepreneurs should think beyond who will write them a check. “Take a look at who can give you the best acceleration for your business,” says Mr. Chaityn. “Not just money, but industry contacts and high-level connections.”

--Mr. McMahan is a reporter for Dow Jones VentureWire in New York. He can be reached atty.mcmahan@dowjones.com <mailto:ty.mcmahan@dowjones.com> .

4th Annual Keiretsu Forum Sun Valley, July 14-16

Keiretsu Forum members and guests are cordially invited to attend the Fourth Annual Keiretsu Forum Sun Valley Gathering, taking place on July 14th-16th in beautiful Sun Valley, Idaho. The investment forum portion will be on Wednesday, July 15th, starting at 8:00 a.m.

In addition to taking part in our investment forum featuring four elite portfolio companies, Keiretsu Forum members and their guests will enjoy many opportunities to socialize and get to know one another at various events, including a very special “walk around” feast at Sun Valley member Pawan Mehra’s home.

For those who want to be updated on critical new research data on angel investment returns in this economy, we will also have a special keynote by Dr. Rob Wiltbank <http://www.willamette.edu/agsm/faculty/wiltbank.htm> , Associate Professor of Strategic Management at Willamette University and foremost authority on growth stage venture capital. Dr. Wiltbank’s research on angel investing performance is the first large empirical examination of the outcomes achieved by angel investors in the U.S.

There will also be numerous outdoor activities including river rafting, skeet shooting, golf (at the scenic Sun Valley and Elkhorn golf courses) and guided fly fishing with fellow investors from around the country. Members and guests are encouraged to bring friends and family to join in the social activities.

If you would like to attend, please:
· RSVP by Wednesday, June 24th to nelson@keiretsuforum.com <mailto:nelson@keiretsuforum.com> or call (206) 529-3687. Upon receipt of your reservation you will be sent your registration forms and pricing information for all activities, as well as a detailed schedule for the week.

· Please call the Sun Valley Lodge directly at (800) 786-8259 to make your hotel reservations and to ensure that you receive the Keiretsu Forum group rate. Reservations will be accepted on a space available basis and should be made at your earliest convenience to ensure availability.

Hotel Information:
The Sun Valley Lodge located at 1 Sun Valley Road Sun Valley, Idaho 83353. Please select from one of the following links for additional information about this property and the surrounding area.

www.sunvalley.com <http://www.sunvalley.com> Resort Map <http://www.sunvalley.com/SunValley/info/rst.map.aspx> Directions <http://www.sunvalley.com/SunValley/info/sp.tran.aspx>

Keiretsu Forum Northwest welcomes new members from the Seattle area

Keiretsu Forum Northwest Welcomes Several New Angel Investor Members

New Members Include Many Well-known Business Leaders in Seattle Area

SEATTLE, WA—June 11, 2009 — Keiretsu Forum, the largest global network of accredited angel investors, today announced that several new members from the Northwest have joined the organization in the past few months. The new members include:

* David Anastasi, former President and CEO of Captaris (which sold to OpenText for $131M on October 31, 2008). David, who is a former board member of both the WTIA and Tech America, is currently working with early stage companies on strategic planning and their go-to-market strategies. (Bellevue/Eastside)

* Bryce Fisher, a former-NFL player (including playing defensive end for the Seattle Seahawks from 2005-2007) and currently a commercial real estate developer with AGM Incorporated. Bryce has a B.S. in Management from the US Air Force Academy. (Bellevue/Eastside)

* Steve Gahler, a Vice President / Station Manager and Direct Sales at KSTW-TV. Steve has held various executive roles at television stations and has a track record of building and leading world-class business divisions within media companies. (Seattle)

* Paul Kollar¸ Vice President of Sales and Marketing and board member at CPDI, Vancouver, WA; Venture Partner at Cross Technology Venture Partners, Tokyo, Japan; and active angel investor. Paul has more than 40 years of experience in the semiconductor and software industries. (Portland)

* Russ Riggins, a former consulting partner at KPMG Peat Marwick, where he worked for
21 years. Russ has experience with large multinational firms as well as early-stage companies and has strong skills in finance, merger/acquisitions and company growth strategies. (Bellevue/Eastside)

* W.R. "Ford" Smith II, founding Chairman and CEO of Petsmart (1986-1990), past chairman of three other companies and board member of a number of others. Ford holds a B.S. in Marketing from Berkeley and a M.B.A. from Harvard, and he has 16 years of angel investing experience. (Seattle)

Keiretsu Forum currently has 18 chapters and more than 750 accredited investor members on three continents, including North America, Europe and Asia. More than 225 of these members are in the Northwest which encompasses Seattle, Bellevue, Portland and Boise. “Keiretsu” stands for collaboration, the culture in which the forum thrives.

“I joined Keiretsu Forum for the quality and depth of the members in the room,” said new member Bryce Fisher. “As an investor, I feel more comfortable in an environment where I know the caliber of my fellow potential investors.”

"I decided to join Keiretsu Forum because I believe the current economic conditions are actually providing unique potential for involvement with true growth businesses and few organizations offer the depth of knowledge and opportunities as Keiretsu,” stated new member Steve Gahler.

“Keiretsu Forum Northwest continues to attract business leaders with lengthy track records of success,” said M.Todd Dean, president of Keiretsu Forum Northwest. “These and other new members have joined an already strong Keiretsu Forum membership that collaborates to evaluate companies in order to make better investment decisions.”

Members of Keiretsu Forum provide early-stage capital in the range of $250k-$3m to high-quality, diverse investment opportunities, including emerging technologies, healthcare/life sciences, real estate, consumer products and other industries with high growth opportunity. Members collaborate in the due diligence, but make their own individual investment decisions.

Membership in Keiretsu Forum is by invitation only and is extended to individuals who share the vision and will actively contribute to their community.

Keiretsu Forum members possess and share diverse industry expertise, from software, telecom and life sciences to retail and information technology. Presenting entrepreneurs have the opportunity to enjoy exposure to the investors, access to a wealth of feedback and insights, and a portal into the markets, relationships and executive talent found within the Keiretsu Forum network.