This document discusses corporate venture capital (CVC) and outlines the author's expertise in the area. The author has written books on venture capital and CVC that have been translated internationally. Setting up a CVC program can provide many benefits to corporations, including accessing external innovation, diversifying products/services, and avoiding disruption. The author advises corporations to establish CVC programs that both invest in venture capital funds and make direct startup investments. Governments should encourage large corporations to pursue CVC to help existing businesses transform and develop new industries. The author's firm leverages a network of corporate investors, family offices, and angels to source deals and help portfolio companies expand globally.

1. Confidential and not for Distribution
Strictly for Institutional and Accredited Investors Only
Masters of Corporate
Venture Capital (CVC)
ExpoGestão Brazil
May 10, 2017

2. AUTHOR OF LEADING BOOK ON VENTURE CAPITAL
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3. NEW BOOK ON CORPORATE VENTURE CAPITAL - CVC - August 2016
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• 100+ interviews with CVCs,
CVC seminars 4 continents, I
personally raised $28m for my
startup from Lucent & advised
many startups on CVC funding
• Japanese translation by
Development Bank of Japan,
WM Partners & Mori Hamada &
Matsumoto, published by
Diamond Publishing
• Chinese Translation by VCs in
China, published by China
Renmin University Press Co.,
Ltd.
• Russian Translation by Moscow
VC, sponsored by Russian gov’t
fund, published by Alpina
Publishing
• Seeking Spanish, Portuguese &
Arabic

4. BOOK #3 COMING SOON
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5. THE BIG PICTURE > WIN-WIN-WIN
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• Big win for corporates – too dangerous for a large corporate not to enter CVC
- Software will eat the world and will spare no industry high tech or low tech
• Big win for startups
- Partner with corporate as pilot, then customer, then reference
- Partner to sell products & services via sales force of corporate
- Grow internationally with corporates’ global or regional footprint
- Generate M&A interest to sell startup to corporate
• Big win for VCs & financially motivated LP investors to make huge financial returns
• Big win for angel investors with access to make these corporate partnerships
happen

6. WHY SHOULD YOU HAVE A CORPORATE VENTURE CAPITAL (CVC) PROGRAM?
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• Access external startup innovation and bring it inside
• Understand the watershed shift of Artificial Intelligence and Machine Learning
• Drive M&A with a pipeline of investment opportunities
• Diversify products & services
• Grow top line revs, lower expenses, increase bottom line profit
• Avoid being disrupted. Software will eat the world
• Identify partnerships with startups
• License technology
• Focus on long-term product and service innovation. Use CVC to combat the short-
term quarterly results mindset that plagues publicly traded companies

7. ADVICE TO CORPORATES THINKING OF ESTABLISHING A CVC PROGRAM
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• A CVC can be:
1. Purely a Fund of Funds investor into VC funds
2. Only make direct investments into startups, or
3. Invest into VC funds 1st and then make direct investments 2nd cherry picking
the best deals from the VCs you invested in or invest with their assistance
• We recommend option 3
• Outline reasons why the corporate wants to operate a CVC and make all
decisions to achieve these goals
• Get physical signature buy-in from CEO & board and make your list of goals and
objectives your constitution to drive all decisions that will follow

8. WHY THE BRAZILIAN GOVERNMENT SHOULD CARE?
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• Your existing businesses will die if they don’t change
• Entire economies must transform from low cost labor arbitrage to advanced technology /
innovation driven economies
• Startups and VCs are the answer but we need many more elements of the ecosystem
• The answer is to jumpstart with CVC and connect to the largest ecosystems of Silicon
Valley, New York, London, etc.
• Government policy should drive your largest corporations to invest in CVC to bring far
away tech into your largest companies and your startups into the big ecosystems to
become world dominating companies of tomorrow as well as solve your unique problems
• It’s about both your unborn startups, solving your unique problems and your existing
big corporates and conglomerates

9. RUBICON’S LP NETWORK – ANGELS, CORPORATES & FAMILIES
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We leverage our network to source deals and help our portfolio companies expand into new markets in the
US and across the globe
Confidential

10. MULTI-CVC, FAMILY OFFICE & ANGEL NETWORK
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• Rubicon pioneered a new way of sharing information from startups with its
corporate, family office and angel investors – information sharing is the key to
success!
• Real-time sharing of deals via co-investment platform. It is confidential when one
of our corporates invests into our startups
• Allowing corporates, family offices and angels to co-invest with our fund
increases incentives & alignment to help the startup succeed
• Enhanced reporting and total transparency
Confidential

11. ACTIVE ANGEL, FAMILY OFFICE & CORPORATE LPS HELP OUR STARTUPS
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• Limited Partner in Residence (LP-IR) program rotates executives from the
corporate to sit in Rubicon’s offices for up to 12 months meeting the startups at
the same time we do and finding partnership opportunities among BUs and startups
• Steady calendar of private events bring our LPs face to face with our portfolio
CEOs, founders and each other
• Building a global angel & corporate footprint in North America, Asia, Europe,
Middle East, LatAm and Africa
Conidential

12. MULTI-CVC, FAMILY OFFICE & ANGEL NETWORK
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• Win-win-win
ü Corporates access the very best startup innovation & deal flow
ü Startups partner with large global companies for sales distribution, large
customers & ultimately acquisition without downside of CVC
ü Financial LPs benefit from rapid sales growth, valuation growth and startups
becoming global players
Confidential

13. CO-INVESTORS
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Fund I has co-invested with
Plus individual investors
Eric Schmidt, Peter Thiel, Joe Lonsdale, Mark Pincus, The Rockefeller Family, Danny Meyer, Mark Cuban, Ashton Kutcher,
The Zuckerberg Family, Semil Shah, David Tisch, Dustin Moskovitz, Jason Calacanis, Gary Vaynerchuk, Sam Altman
Confidential

14. 2017 CVC SEMINARS AROUND THE WORLD
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Full day and half day seminars teaching, learning & diving deep into CVC
• Sao Paolo
• Singapore
• London
• Paris
• Istanbul
• Tokyo
Confidential
• Osaka
• New York
• San Francisco
• Miami
• Beijing
• Shanghai
Andrew@Rubicon.vc
Thank you