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Runway Presentation to Portuguese Investors

and CompaniesBy Juan Ramon Zarco

Silicon Valley Growth Partners

jrzarco2012@gmail.com

650-843-9212

4/13/2014

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Topic – Silicon Valley Ecosystem for International Companies

• Silicon Valley Investments Q4 2013

• Investment Breakdowns

• Foreign Companies Attraction to Silicon Valley – Kleiner Perkins

• Comparative Differences between U.S. and Europe

• Dont’s and Do’s

4/13/2014

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Silicon Valley Eco-System, International Presence

$8.4 Billion Invested, average $7.88 million, 1,077 Deals

Source: NVCA/PWC Q4, 2013

Region Amount % of Total Deals

Silicon Valley, $3,220M 38.48% 306

NY Metro $1,220M 14.57% 123

New England $917M 10.96% 106

Rest of USA $3,012M 35.99% 542

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Regions Defined Total $ Invested Average $ Per Deal Deals

Silicon Valley $3,220,323,200 $10,523,932 306

Amount % of Total Deals

Software

$1338M 41.55% 133 Media and Entertainment

$465M 14.44% 32 Biotechnology

$428M 13.29% 29 IT Services

$251M 7.79% 24 Medical Devices and Equipment

$162M 5.02% 26 Telecommunications

$120M 3.74% 9 Semiconductors

$112M 3.47% 13 Consumer Products and Services

$73M 2.27% 9 Computers and Peripherals

$64M 1.99% 3 Electronics/Instrumentation

$56M 1.75% 4 Industrial/Energy

$54M 1.68% 8 Business Products and Services

$40M 1.24% 5 Retailing/Distribution

$29M 0.89% 6 Networking and Equipment

$20M 0.61% 2 Healthcare Services

$8M 0.23% 2 Financial Services

$1M 0.02% 1

Silicon Valley Investments Q4 2013 Broken Down by Sectors

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Investments by Stage of Development / Q4 2013

Stages Defined Total $ Invested Average $ Per Deal Deals All $8,369,192,800 $7,770,838 1077

Amount % of Total Deals

Expansion

$2997M 35.81% 275 Early Stage

$2895M 34.59% 530 Later Stage

$2157M 25.78% 205 Startup/Seed

$320M 3.82% 67

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View Investee Companies by Region / Q4 2013

- All -

select a region

Investee Company Name Region State 955 Dreams Inc Silicon Valley CA Acerta Pharma LLC Silicon Valley CA Achaogen Inc Silicon Valley CA AdLast Inc Silicon Valley CA Afferent Pharmaceuticals Inc Silicon Valley CA Afterlivetv Inc Silicon Valley CA Ajax Vascular, Inc. Silicon Valley CA Alector LLC Silicon Valley CA Alienvault LLC Silicon Valley CA Allergen Research Corp Silicon Valley CA Alminder Inc Silicon Valley CA Alpine Data Labs Inc Silicon Valley CA Altia Systems Inc Silicon Valley CA AltSchool Inc Silicon Valley CA Amaranth Medical Inc Silicon Valley CA American Efficient Silicon Valley CA Amprius Inc Silicon Valley CA Anturis Inc Silicon Valley CA AppDirect Inc Silicon Valley CA Apps & Zerts Inc Silicon Valley CA Appthority Inc Silicon Valley CA Aria Systems Inc Silicon Valley CA Arista Networks Inc Silicon Valley CA ARMO Biosciences Inc Silicon Valley CA Arrayent Inc Silicon Valley CA Arstasis Inc Silicon Valley CA Articulinx Inc Silicon Valley CA Atara Biotherapeutics Inc Silicon Valley CA Athos Works Inc Silicon Valley CA Audentes Therapeutics Inc Silicon Valley CA Audioscribe Ltd Silicon Valley CA August Silicon Valley CA Avinger Inc Silicon Valley CA Bandai Natl Pk Resort Golf Silicon Valley CA Basis Science Inc Silicon Valley CA BetterDoctor Inc Silicon Valley CA Biodesy Inc Silicon Valley CA Bitcasa Silicon Valley CA Bloc Inc Silicon Valley CA Bluenose Analytics Inc Silicon Valley CA Booyah Inc Silicon Valley CA Box Inc Silicon Valley CA Breathometer Inc Silicon Valley CA Building Robotics Silicon Valley CA Butter Systems Inc Silicon Valley CA Butterfly Health, Inc. Silicon Valley CA C9, Inc. Silicon Valley CA

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Butterfly Health, Inc. Silicon Valley CA C9, Inc. Silicon Valley CA Cabochon Aesthetics Inc Silicon Valley CA Calithera Biosciences Inc Silicon Valley CA Calysta Energy Inc Silicon Valley CA Catalyst Biosciences Inc Silicon Valley CA Cellular Research Silicon Valley CA Cibiem Inc Silicon Valley CA Cinarra Systems Inc Silicon Valley CA Clever Inc Silicon Valley CA Coho Data, Inc. Silicon Valley CA Coinbase Inc Silicon Valley CA Colingo Silicon Valley CA Compass Electro Optical Systems Ltd Silicon Valley CA Connu Silicon Valley CA Contextly Inc Silicon Valley CA Continuuity Inc Silicon Valley CA Coraid Inc Silicon Valley CA Coursera Inc Silicon Valley CA Cozy Services Ltd Silicon Valley CA Creative Action Network Silicon Valley CA Crowdtilt Inc Silicon Valley CA Cumulus Networks Inc Silicon Valley CA Cuyana Inc Silicon Valley CA CymaBay Therapeutics Inc Silicon Valley CA Cyphort Inc Silicon Valley CA Cyvera, Ltd. Silicon Valley CA Danville Group, The Silicon Valley CA Datahero Inc Silicon Valley CA Datameer Inc Silicon Valley CA Datasift Inc Silicon Valley CA DeliRadio Silicon Valley CA Deliv Inc Silicon Valley CA Digital Manufacturing Inc Silicon Valley CA Doctor On Demand Inc Silicon Valley CA DoubleDutch Inc Silicon Valley CA eASIC Corp Silicon Valley CA EchoPixel Inc Silicon Valley CA Ecofactor Inc Silicon Valley CA eConais Inc Silicon Valley CA Egnyte Inc Silicon Valley CA Endogastric Solutions Inc Silicon Valley CA Enlighted Inc Silicon Valley CA Espresso Logic Inc Silicon Valley CA Established Tomorrow LLC Silicon Valley CA ExtendTV Inc Silicon Valley CA Extole, Inc. Silicon Valley CA Flint Mobile Inc Silicon Valley CA Flipboard Inc Silicon Valley CA Flurry Inc Silicon Valley CA Formidable Corp Silicon Valley CA Foundry Newco XI Inc Silicon Valley CA Funambol Inc Silicon Valley CA Gainspeed Inc Silicon Valley CA Garantia Data Ltd Silicon Valley CA

Gemini Mobile Technologies Inc Silicon Valley CA GenapSys Inc Silicon Valley CA Ginzamarkets Inc Silicon Valley CA Glassbeam Inc Silicon Valley CA Glassdoor Inc Silicon Valley CA Global Education Learning Holding Ltd Silicon Valley CA Good.Co Inc Silicon Valley CA Gridstore Inc Silicon Valley CA Grokker Inc Silicon Valley CA GymPact Inc Silicon Valley CA Hacklog Silicon Valley CA HDmessaging Inc Silicon Valley CA HealthEquityLabs Inc Silicon Valley CA Hexagram 49, Inc. Silicon Valley CA Hightail Inc Silicon Valley CA Homejoy Inc Silicon Valley CA Human Dx Ltd Silicon Valley CA HydroNovation, Inc. Silicon Valley CA HydroPoint Data Systems Inc Silicon Valley CA ICIX Pty Ltd Silicon Valley CA Imimtek Inc Silicon Valley CA Index Silicon Valley CA Integrated Photo Voltaics Inc Silicon Valley CA Intersect ENT Inc Silicon Valley CA InVitae Corp Silicon Valley CA Jiwire Inc Silicon Valley CA Jut Inc Silicon Valley CA Kaazing Corp Silicon Valley CA Kahuna Inc Silicon Valley CA Kaiam Corp Silicon Valley CA Kanjoya Inc Silicon Valley CA Keen Labs Inc Silicon Valley CA Kidaptive Inc Silicon Valley CA Kii, Inc. Silicon Valley CA Kingsoft Office Software Inc Silicon Valley CA Knotch Inc Silicon Valley CA Kumu Networks Inc Silicon Valley CA Layer Inc Silicon Valley CA LeanData Inc Silicon Valley CA LendUp Silicon Valley CA LensVector Inc Silicon Valley CA Life360 Inc Silicon Valley CA Lift Labs Silicon Valley CA LiquidM Inc Silicon Valley CA Listia Inc Silicon Valley CA Liveramp Inc Silicon Valley CA Lookout Inc Silicon Valley CA Loom Inc Silicon Valley CA Loop Commerce Inc Silicon Valley CA Luxul Technology Inc Silicon Valley CA LuxVue Technology Corp. Silicon Valley CA Lytro Inc Silicon Valley CA Madefire Inc Silicon Valley CA Madison Reed Inc Silicon Valley CA Markkit Silicon Valley CA MathCamp Inc Silicon Valley CA

84/13/2014

Gemini Mobile Technologies Inc Silicon Valley CA GenapSys Inc Silicon Valley CA Ginzamarkets Inc Silicon Valley CA Glassbeam Inc Silicon Valley CA Glassdoor Inc Silicon Valley CA Global Education Learning Holding Ltd Silicon Valley CA Good.Co Inc Silicon Valley CA Gridstore Inc Silicon Valley CA Grokker Inc Silicon Valley CA GymPact Inc Silicon Valley CA Hacklog Silicon Valley CA HDmessaging Inc Silicon Valley CA HealthEquityLabs Inc Silicon Valley CA Hexagram 49, Inc. Silicon Valley CA Hightail Inc Silicon Valley CA Homejoy Inc Silicon Valley CA Human Dx Ltd Silicon Valley CA HydroNovation, Inc. Silicon Valley CA HydroPoint Data Systems Inc Silicon Valley CA ICIX Pty Ltd Silicon Valley CA Imimtek Inc Silicon Valley CA Index Silicon Valley CA Integrated Photo Voltaics Inc Silicon Valley CA Intersect ENT Inc Silicon Valley CA InVitae Corp Silicon Valley CA Jiwire Inc Silicon Valley CA Jut Inc Silicon Valley CA Kaazing Corp Silicon Valley CA Kahuna Inc Silicon Valley CA Kaiam Corp Silicon Valley CA Kanjoya Inc Silicon Valley CA Keen Labs Inc Silicon Valley CA Kidaptive Inc Silicon Valley CA Kii, Inc. Silicon Valley CA Kingsoft Office Software Inc Silicon Valley CA Knotch Inc Silicon Valley CA Kumu Networks Inc Silicon Valley CA Layer Inc Silicon Valley CA LeanData Inc Silicon Valley CA LendUp Silicon Valley CA LensVector Inc Silicon Valley CA Life360 Inc Silicon Valley CA Lift Labs Silicon Valley CA LiquidM Inc Silicon Valley CA Listia Inc Silicon Valley CA Liveramp Inc Silicon Valley CA Lookout Inc Silicon Valley CA Loom Inc Silicon Valley CA Loop Commerce Inc Silicon Valley CA Luxul Technology Inc Silicon Valley CA LuxVue Technology Corp. Silicon Valley CA Lytro Inc Silicon Valley CA Madefire Inc Silicon Valley CA Madison Reed Inc Silicon Valley CA Markkit Silicon Valley CA MathCamp Inc Silicon Valley CA

QuickPay Corp Silicon Valley CA QuorumLabs Inc Silicon Valley CA Quri Silicon Valley CA R2 Semiconductor Inc Silicon Valley CA Raydiance Inc Silicon Valley CA RealScout Inc Silicon Valley CA Reesio Inc Silicon Valley CA Relypsa Inc Silicon Valley CA remind101 Inc Silicon Valley CA RenovoRx Inc Silicon Valley CA Reset Therapeutics LLC Silicon Valley CA Restoration Robotics Inc Silicon Valley CA RichRelevance Inc Silicon Valley CA RidePal Inc Silicon Valley CA Ripple Labs Inc Silicon Valley CA Robinhood Financial LLC Silicon Valley CA Rocketick Technologies Ltd Silicon Valley CA Rumble Entertainment Silicon Valley CA Runnable Silicon Valley CA Santa Maria Biotherapeutics Inc Silicon Valley CA Savveo Inc Silicon Valley CA Scanadu Inc Silicon Valley CA Scoot Networks Inc Silicon Valley CA Selligy Inc Silicon Valley CA Sentons Inc Silicon Valley CA SentreHEART Inc Silicon Valley CA SFJ Pharmaceuticals Inc Silicon Valley CA Sharethrough Inc Silicon Valley CA Sherlock Data Science Inc Silicon Valley CA Shoptap, Inc. Silicon Valley CA ShowEvidence Inc Silicon Valley CA SimplyInsured Inc Silicon Valley CA Skybox Security Inc Silicon Valley CA Skycross Inc Silicon Valley CA Smartshoppr Inc Silicon Valley CA Sojern Inc Silicon Valley CA Soundhawk Corp Silicon Valley CA Sparkcentral Inc Silicon Valley CA Sparks Mobile Inc Silicon Valley CA Ss8 Networks Inc Silicon Valley CA StarMaker Interactive Inc Silicon Valley CA Station X Inc Silicon Valley CA Stem, Inc. Silicon Valley CA Stitch Fix Inc Silicon Valley CA Strevus Inc Silicon Valley CA Super Evil Mega Corp Silicon Valley CA Sutro Biopharma Inc Silicon Valley CA Suvolta Inc Silicon Valley CA Swapbox Inc Silicon Valley CA Swarm Solutions Inc Silicon Valley CA Talari Networks Inc Silicon Valley CA Talend Inc Silicon Valley CA Tangible Play Silicon Valley CA Teambox Silicon Valley CA Telly Inc Silicon Valley CA Terrajoule Corporation Silicon Valley CA

94/13/2014

The Fabric LLC Silicon Valley CA Threefold Photos Inc Silicon Valley CA Tiatros, Inc. Silicon Valley CA TicTasks Inc Silicon Valley CA Tigo Energy Inc Silicon Valley CA Tinycocom Silicon Valley CA ToutApp, Inc. Silicon Valley CA Traina Interactive Inc Silicon Valley CA Trifacta Inc Silicon Valley CA Trivascular Inc Silicon Valley CA True North Therapeutics Inc Silicon Valley CA Turn Inc Silicon Valley CA Untangle Inc Silicon Valley CA UpCounsel Inc Silicon Valley CA Upthere Inc Silicon Valley CA Ustyme Inc Silicon Valley CA Vapore, Inc. Silicon Valley CA vArmour Networks Inc Silicon Valley CA Versartis Inc Silicon Valley CA Vertical Brands Media Inc Silicon Valley CA Vimo Inc Silicon Valley CA Visually Inc Silicon Valley CA Vytronus Inc Silicon Valley CA WePay Inc Silicon Valley CA Wevorce Inc Silicon Valley CA Whistle Labs Inc Silicon Valley CA WhoKnows Inc Silicon Valley CA Wildflower Health, Inc. Silicon Valley CA Woopie Silicon Valley CA Wordnik, Inc. Silicon Valley CA Wrike Inc Silicon Valley CA Xangati Silicon Valley CA XLumena Inc Silicon Valley CA Yub Inc Silicon Valley CA Zenverge Inc Silicon Valley CA Zepp Labs Inc Silicon Valley CA Zero Motorcycles Inc Silicon Valley CA Zosano Pharma Inc Silicon Valley CA

Not one: S.A., GmBH, SARL

Ustream (Hungary)UxPin (Poland)

Accel looking at deals in Kazakhstan

104/13/2014

IT Cyprus Company: iOS/MSDOS/Android – All U.S.A.

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DIFFERENT SOCIAL AND CORPORATE CULTURES

Europe vs. U.S.A.

• Closed Corporate Structure

• European – DHUL (Spain)

• Cash Compensation Model

• Low probable Exit Strategy

• Open Business Culture

• Meetups

• Conferences

• Competitions

• Strong Marketing Cultures

• ISO Compensation Model – High Probable Exit Strategy

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WHAT NOT TO DO

Viclone (Spain) – Northrop Grummon, multi-lingual CRM

WHAT TO DO

Incorporate:

MaxGen International (Russia) – online Travel, PayPal-Bank of the West

Corporate creations, Contracts, IP registrations,

Gain Access to U.S. markets by Local Presence

WAZE – Google acquisition

Joint Ventures – Distribution Agreements:

Liftforward Inc. –JV- with Medical Groups –

P2 Convertible Note Capital, Corporate-Securities-Contracts management, expansion with medical companies and SMBs platforms

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U.S. Important Presence Issues

• What type of entity?

• Product being Sold – Software,Hardware

• Registration in the State to Litigate

• Contracts B to B where are you going to litigate?

• Work for Hire, Local employees, 23%, size of company --- over 50, employee handbooks

• Capital, money transfer, taxes

• International treaties related to taxes

• Domestic companies

• Offshore entities

• International Treaties re IP

• Business culture – most things in the U.S. by lawyers, Europe relies on Napoleonic Code4/13/2014

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CONCLUSION

• Not all companies get financed

• U.S. based companies preference

• Careful of Deals with other U.S. companies

• Acknowledge Difference in Culture

4/13/2014

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Muito Obrigado!

• Juan Ramon Zarco

• 650-843-9212, jrzarco2001@yahoocom

4/13/2014