NRW.BANK Equity Investments Presentation of Cleantech Investment Activities. EcoSummit, 14 November 2012, Langen Foundation Duesseldorf

Transcription

1 NRW.BANK Equity Investments Presentation of Cleantech Investment Activities EcoSummit, 14 November 2012, Langen Foundation Duesseldorf

2 NRW.BANK Facts & Figures With total assets of around EUR 157 billion, NRW.BANK is the largest institution among Germany s regional development banks Owner of NRW.BANK is the State of North-Rhine Westphalia (100 %) NRW.BANK seeks funding in the global capital markets with an annual issuance of approximately EUR 15 billion and thus is one of the top five bond issuers in Germany NRW.BANK employs approximately people NRW.BANK s registered offices are in Duesseldorf and Muenster 2

3 Core Business Activities Provision of Venture Capital and Private Equity Structural development of cities and municipalities Infrastructure financing Financial measures in agriculture and forestry for rural areas Environmental protection, technology- and innovation financing Housing development 3

4 NRW.BANK Equity Investments Strategic principles Mobilizing private Venture Capital for innovative, technology orientated business start-ups Mobilizing Private Equity for SMEs Medium- and long-term achievement of an appropriate investment return from the capital investment activities of NRW.BANK Filling the equity gap of high-tech companies especially in A- and B-rounds 4

5 NRW.BANK Equity Investments some facts NRW.BANK has invested 187 million in 93 businesses to date Through our Co-Investor strategy, NRW.BANK leveraged 550 million of additional capital for North Rhine-Westphalian businesses; that correlates to a factor of 3.9:1 Over 39,000 people are employed in the businesses financed by NRW.BANK The portfolio shows a broad diversification over different industries 5

6 Overview of Equity Investment activities Start-up stage Early stage Growth Succession Restructuring Direct Investments (up to 20 M) Financing Volume 80 M NRW.BANK.Venture Fund II ( 0.5-8,0 M) 40 M NRW.BANK.Venture Fund I ( M) 75 M NRW.BANK.Mittelstandsfonds (SME fund) ( 1-7 M) Investments in external funds (Private Equity) 50 M NRW.BANK.Special Situations Fund (up to 5 M) 60 M NRW.BANK.Seed Fund (up to 0.5 M) 30 M NRW.BANK.Kreativwirtschaftsfonds (Creative Industries) ( 0.25 to 3 M) 5 M LSI Pre-Seed-Funds GmbH (up to 0.5 M) Investments in external funds (Venture Capital) KBG (up to 1M) Time First-round financing Young growth-oriented technology businesses and early stage businesses Established SME businesses with growth potential; MBOs, Acquisition Business Succession SME businesses in restructuring and turnaround situations Technology & Innovation Financing SME Financing Externally managed NRW.BANK managed 6

7 Technology Focus NRW.BANK Venture / Seed Funds Software Biotech Pharma Medtech Cleantech IT/Internet 7

8 Overview of Venture Capital activities NRW.BANK Venture Funds NRW.BANK Seed Funds Fund I: 13 portfolio companies (fully invested) Fund II: 7 portfolio companies (actively investing) 62 portfolio companies 8

9 NRW.BANK.Venture Fund Characteristics Investment Criteria Volume 80M Focus on North Rhine-Westphalia Promotion of financing for young highgrowth enterprises Involvement of co-investors Direct equity investments or convertible loans Minority stakes only High Tech and/or technology-oriented businesses ICT, Software, Life Sciences (MedTech, Pharma, Biotech), CleanTech Financing from early to later stage; A-rounds and follow-on rounds Realistic perspective of a successful exit within 5 years Overall investment up to 8M, sweetspot in 1st round between 1,5 and 3M Board Seat 9

10 NRW.BANK.Seed Fund Characteristics Investment Criteria Total Investment Volume 70M ( 30M from NRW.BANK) 2nd Fund recently installed ( 30M) Clear focus on North Rhine-Westphalia Direct equity investments or convertible loans Minority stakes only Extensive leveraging of private capital for early-stage financing High Tech and/or technology-oriented companies Company or project-related business has to be younger than 18 months Seed fund needs a minimum stake of 10% in share capital Targeted average ticket size of 500,000 The founding team takes an active part as partners with a cash stake of at least 10% of the required financial resources 10

11 Preferred Cleantech Industry Sectors Energy Storage Energy Efficiency / Materials Water Technologies Smart Grid Hard- / Software Green Chemistry Industrial Biotech 11

12 Portfolio Venture Fund Cleantech Investments NRW.BANK Venture Funds Direvo targets the fast-growing biomass industry, focus lies on the enzymatic conversion of various feedstocks to animal nutrition and 2nd generation cellulosic ethanol The GreenPocket Solution enables utilities to use smart metering and smart home to enhance energy efficiency and create attractive added value for consumers and businesses 12

13 Portfolio Seed Fund Recycling technology to split up PV waste composite materials into raw materials Developer of concentrated solar power technologies and projects Development of mobile heat storage systems Innovative system to generate electricity from ocean waves Intelligent power control components for use in smart home systems Development and production of enzymes and fine chemicals for the chemical and pharmaceutical industry Development of smart metering and smart home software solutions 13

14 Investment Partners in Venture Funds 14

15 Team Life Sciences & Cleantech at NRW.BANK Dr. Aristotelis Nastos, Head of Life Sciences & Cleantech Tel Dr. Thomas Raueiser, Investment Manager Tel Maximilian Erb, Investment Manager Tel Florian Stinauer, Investment Manager Tel

16 Thank you! 16