EVCA
Technology investment in Europe
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Technology investment in Europe

For the 8th year, venture capitalists, investment banks, consultants, advisors and entrepreneurs are invited connect with fellow leading players at the 8th annual EVCA Technology Investment Conference - the leading pan-European technology investing event.

With the technology industry having lived through unprecedented change during the last 36 months, the venture capital industry is undergoing its own painful transitions.

The European industry has continued to contribute not only capital, but also strategic advice, a sounding board for ideas, networking opportunities and business credibility to technology companies in the past year, investing €4.2 billion in high technology growth companies.
This amount was an unfortunate 64% decrease on 2001. The number of investments decreased by 31%, but the number of companies receiving financing decreased by only 2.9% to 2,709.

During the recent period, the technology industry has undergone the most dramatic upheaval in memory. The impact of these events on the venture capital industry has been profound and will change the business for many years to come. EVCA figures show a marked shift of investment away from early-stage technology towards later-stage businesses, and a contraction of fundraising activity by over 40%. How will this impact venture capitalists and fund investors in 2003 and beyond?

A number of challenges confront venture capital managers:
• How are investors dealing with fund restructurings?
• What is the impact of consolidation of managers?
• How are fund investors reacting to changes in VC investment strategies and in
  VC business models?

What are the developments in those technology segments of most interest to venture capitalists today?

This year’s Technology Investment Conference will address these and other core issues, bringing together the viewpoints of both venture capital practitioners and limited partners.

Keynote addresses will be presented by the
• Chairman of the Board of Directors of 3com: Eric Benhamou,
• Chairman of the Celltech Group: Peter Fellner
• Chairman and CEO of Broadview: Paul Deninger

Round table discussions will ask questions such as:
• How to deal with the pressure for increased transparency and disclosure in reporting?
• What is the impact of changes in VC director liabilities and responsibilities?
How can portfolio company management be best incentivised in a tough economic environment?

The 2003 EVCA Technology Investment Conference will take a hard look at the implications of these changes on our business.


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Conference journal


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Registration

Please complete all the fields followed by an '*'.

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Type of Publication * Trade (private equity and venture capital) press
  Investor press
  Financial & Business press
  High Tech press
  General press


Periodicity: Daily Weekly Monthly Other


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For questions, please contact Charlotte.Amiri@evca.com +32 2 715 00 33.


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Press announcements

You can anticpate the announcement of the Q2 2003 EVCA activity indicator and the findings of this year's corporate venturing study on Thursday 2 October 2003.



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Resources

Contact
EVCA European Private Equity and Venture Capital Association
Minervastraat 4
B-1930 Zaventem
Tel: +32 2 715 00 20
Fax: +32 2 725 07 04

Veronique Bockstal, EVCA Marketing Director. Tel: +32 2 715 00 22
Veronique.bockstal@evca.com

Charlotte Amiri, EVCA Communications Coordinator, Tel: +32 2 715 00 33
Charlotte.amiri@evca.com


Spokespersons

Should you be interested in an interview, the following spokespersons will be available:

Jean-Bernard Schmidt, EVCA Chairman and Chairman and Managing Partner of Sofinnova Partners

Michael Elias, Chairman EVCA High Tech Committee and Managing Director of Kennet Venture Partners


Key facts

Private equity and venture capital investment in Europe
  • At the end of 2002, the European private equity and venture capital industry represents over €124bn of capital under management
  • Private equity and venture capital provide a vital source of finance for growing companies in all industry sectors.
  • European private equity provides long-term investment capital, contributing to sustainable economic growth, generating employment, financing new technologies and providing equity to Europe's promising growth companies.
  • Private equity-backed companies stimulate the economy by creating jobs, growing faster than other companies, investing heavily in R&D, and developing internationally.
  • The European private equity industry operates according to accepted standards of conduct, reporting and valuation and has a strong network of professional advisors.
  • European private equity is a recognised alternative asset class offering the potential for superior returns for investors over other mainstream asset classes.
  • European private equity offers excellent investment opportunities due to:
    - Corporate restructuring in continental Europe
    - Ownership and management succession requirements
    - Privatisation of public or state-owned companies
    - The Euro and the Single European Market
  • Early-stage and technology investment in Europe benefits from a solid infrastructure for scientific research.
  • Europe has experienced managers and an established entrepreneurial culture.
  • The majority of private equity-backed companies are SMEs and are privately owned.
  • Improving the environment to enable private equity to develop is crucial for increasing Europe's worldwide competitiveness and job creation.

Supplementary data about technology investment in Europe

Money for Growth - The European Technology Investment Report 2002, PwC

'Money for Growth 2002' is the fifth annual report on technology investments in Europe and includes data based on EVCA's (European Private Equity and Venture Capital Association) Annual Survey of Pan-European Private Equity and Venture Capital Activity, conducted by PricewaterhouseCoopers. All known private equity and venture capital companies from 21 Western and Central European countries took part in the survey, with an additional seven Central European countries taking part which are currently treated as pilots.

EVCA records the technology component of each investee company, whatever the sector.
For example a survey respondent would only indicate the investment in an internet company as tech, if the company was operating high-technology.
By using the EVCA annual Pan-European Private Equity and Venture Capital Activity Survey, conducted by PricewaterhouseCoopers, PwC have looked at technology investing in Europe according to specified sectors. These are the following:
Communications, Computer Related, Other Electronics Related, Biotechnology, Medical/Health related and Internet Technology.


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