| Term Sheet with WilmerHale |
| Chamber of Commerce International Consortium For Entrepreneurs |
CCICE Event
Date: Tuesday September 30, 2008
Time: 6:00p.m.– 6:30p.m. Registration
(Hors D'oeuvres provided)
6:30p.m. – 8:30p.m. Program begins
Venue:
Wilmerhale
1117 California Street, Palo Alto, CA. 94304
Click for Map Location
General Event Information:
FREE for CCICE Members (join CCICE)
Members register with sara@ccice.org
$20 Members of Affiliate Organizations
$30 Non-Members
CCICE presents an engaging session on understanding the Term Sheet of a
typical first round of venture financing. Three perspectives will be presented from
the point of view of the Lawyer, the Entrepreneur and the Venture Capitalist. The
discussion will include:
What is a Term Sheet?
• Overview summarizing the important components of a term sheet
• Term Sheet provisions and company exits.
- liquidation preference,
- anti-dilution provisions,
- conversions and warrants
• Why pre-money valuation is important
What to look out for?
• Understanding who is in control:
- Board of Directors makeup and Investor rights
• How to get the right terms on your first term sheet
• Current trends and terms
• And other Landmines
Moderator: Howard Lee, Executive Director, CDIB Capital
Panelists:
Gerd Goette, Managing Partner, Siemens Venture Capital
Curtis Mo, Partner, WilmerHale
Samba Murthy, Serial Entrepreneur
BIOs
Gerd Goette is Managing Partner, based in Palo Alto , CA . He specializes in
investments in energy, communications and industrial solutions. His
investments include Broadlight, Dune Networks, Kagoor Networks (acquired by
Juniper Networks), Movius (f.k.a. IP-Unity Glenayre), Myrio (acquired by
Siemens), Reactive NanoTechnologies and Verimatrix. In addition he manages
SVC's investments in BPL Global, G2 Microsystems, GENBAND, Montavista,
Newmerix, Prenova, SmartSynch and Zolo Technologies. With more than 20
years of worldwide industry experience, he combines a strong technical
background with wide-ranging operational skills. Prior to joining Siemens
Venture Capital in September 2000, Gerd held the position of Vice President and
Head of CableTV Solutions in Siemens Information and Communication
Networks. Additionally, Gerd's managerial and operating expertise stems from
earlier focus on R&D, system integration, product line management, technical
sales support, project management and general management in the fields of
telecommunication equipment and solutions. Gerd received a master's degree
in electrical engineering (Dipl. Ing.) from Technical University Darmstadt,
Germany.
Curtis Mo is the partner-in-charge of the firm's Palo Alto office and he is a partner
in the Corporate Practice Group. He joined the firm in 2005. Mr. Mo is recognized
as a leading corporate and securities lawyer in Silicon Valley. He has
represented emerging growth companies, major public companies, investment
banks, venture capital funds and private equity funds in hundreds of public
offerings, mergers and acquisitions, buyouts, venture capital financings and
other complex transactions. He has extensive experience in corporate
governance matters and regularly acts as general outside counsel to public and
private companies at all stages of development, particularly in the technology, life
sciences and consumer sectors. Representative clients have included Cisco
Systems, Digital Island, Doubletree Hotels, E*TRADE Group, JetBlue Airways,
Restoration Hardware and many top-tier investment banks and venture capital
funds. Mr. Mo has lectured extensively at seminars sponsored by the Practising
Law Institute and other professional groups, and has given expert legal
commentary on emerging growth companies and the technology sector for CNN
Moneyline, CNBC Business Center and various publications. Mr. Mo is the
founder and co-chair of PLI's Advanced Venture Capital conference, served as co-
chair of the Annual Institute on Securities Regulation from 2001-2006, and has
been a member of the advisory board for the Annual Securities Regulation
Institute in San Diego. He serves a number of community organizations,
including as a member of the board of directors of the influential Joint Venture:
Silicon Valley Network.
Honors and Awards
* Named Who's Who 2008 by the San Jose/Silicon Valley Business Journal
* Recognized as a leader in Corporate/M&A: deals in Asia in the 2007 and 2008
editions of Chambers USA: America's Leading Lawyers for Business
* Selected by California Law Business as one of the "top 20 lawyers in the State
of California under the age of 40"
* Named one of the top lawyers in Silicon Valley by San Jose Magazine
* Featured in American Lawyer as a "Dealmaker of the Year" for 2003
Samba Murthy is a Silicon valley serial entrepreneur and startup CEO from the
semiconductor and computer networking industry. He was recently featured in
"They made it!", a recent book about silicon valley entrepreneurs (http://www.
happyabout.info/theymadeit.php). He has direct experience founding and
growing venture funded semiconductor and systems companies based in
silicon valley and India, managing off shore and multi geographic development
teams. Mr.Murthy successfully developed and launched the industry's highest
performance deep packet inspection content processor three times larger than
the Pentium with 500+ man years of development at his most recent startup
venture Xambala. He maintains extensive industry connections including venture
capital, Investment banks to source experienced talent for engineering,
marketing and sales. and his specialities include New product, technology and
business development, corporate strategy, offshore development strategies,
Venture and debt financing, mergers and acquisitions, IP management. He
holds BSEE and MSEE degrees, with multiple patents on Ethernet and data
communications technology. He currently serves on the board of two startups
and working on his new venture ideas.
Howard Lee is an Executive Director and co-heads CDIB Capital’s U.S. office,
where he leads its investment activities in the venture and growth equity asset
classes. Prior to CDIB Capital, Howard was a General Partner at Crystal
Ventures, a venture capital firm that focused on early-stage infrastructure and
enabling technology companies in both the US and Asia. At Crystal Ventures he
led communications-related investments. Prior to Crystal Ventures, Howard
served as Vice President at global venture capital firm Crimson Ventures in
1999, where he led communications infrastructure investments in the US. Prior
to Crimson, he was Vice President and co-founder of Volendam Capital
Advisors, a venture fund that invests in emerging growth high technology
companies in the US and Europe. Howard has held management positions in
product management and marketing at Applied Materials and has worked as a
research investigator in optoelectronics and semiconductor materials at the US
Army Research Labs. He has also held engineering positions at IBM and Unisys.
Mr. Lee holds a BS in Electrical Engineering and a PhD in Electrical Engineering
and Electro-Optics from Cornell University, and an MBA from INSEAD in
Fontainebleau, France.
Time: 6:00p.m.– 6:30p.m. Registration
(Hors D'oeuvres provided)
6:30p.m. – 8:30p.m. Program begins
Venue:
Wilmerhale
1117 California Street, Palo Alto, CA. 94304
Click for Map Location
General Event Information:
FREE for CCICE Members (join CCICE)
Members register with sara@ccice.org
$20 Members of Affiliate Organizations
$30 Non-Members
CCICE presents an engaging session on understanding the Term Sheet of a
typical first round of venture financing. Three perspectives will be presented from
the point of view of the Lawyer, the Entrepreneur and the Venture Capitalist. The
discussion will include:
What is a Term Sheet?
• Overview summarizing the important components of a term sheet
• Term Sheet provisions and company exits.
- liquidation preference,
- anti-dilution provisions,
- conversions and warrants
• Why pre-money valuation is important
What to look out for?
• Understanding who is in control:
- Board of Directors makeup and Investor rights
• How to get the right terms on your first term sheet
• Current trends and terms
• And other Landmines
Moderator: Howard Lee, Executive Director, CDIB Capital
Panelists:
Gerd Goette, Managing Partner, Siemens Venture Capital
Curtis Mo, Partner, WilmerHale
Samba Murthy, Serial Entrepreneur
BIOs
Gerd Goette is Managing Partner, based in Palo Alto , CA . He specializes in
investments in energy, communications and industrial solutions. His
investments include Broadlight, Dune Networks, Kagoor Networks (acquired by
Juniper Networks), Movius (f.k.a. IP-Unity Glenayre), Myrio (acquired by
Siemens), Reactive NanoTechnologies and Verimatrix. In addition he manages
SVC's investments in BPL Global, G2 Microsystems, GENBAND, Montavista,
Newmerix, Prenova, SmartSynch and Zolo Technologies. With more than 20
years of worldwide industry experience, he combines a strong technical
background with wide-ranging operational skills. Prior to joining Siemens
Venture Capital in September 2000, Gerd held the position of Vice President and
Head of CableTV Solutions in Siemens Information and Communication
Networks. Additionally, Gerd's managerial and operating expertise stems from
earlier focus on R&D, system integration, product line management, technical
sales support, project management and general management in the fields of
telecommunication equipment and solutions. Gerd received a master's degree
in electrical engineering (Dipl. Ing.) from Technical University Darmstadt,
Germany.
Curtis Mo is the partner-in-charge of the firm's Palo Alto office and he is a partner
in the Corporate Practice Group. He joined the firm in 2005. Mr. Mo is recognized
as a leading corporate and securities lawyer in Silicon Valley. He has
represented emerging growth companies, major public companies, investment
banks, venture capital funds and private equity funds in hundreds of public
offerings, mergers and acquisitions, buyouts, venture capital financings and
other complex transactions. He has extensive experience in corporate
governance matters and regularly acts as general outside counsel to public and
private companies at all stages of development, particularly in the technology, life
sciences and consumer sectors. Representative clients have included Cisco
Systems, Digital Island, Doubletree Hotels, E*TRADE Group, JetBlue Airways,
Restoration Hardware and many top-tier investment banks and venture capital
funds. Mr. Mo has lectured extensively at seminars sponsored by the Practising
Law Institute and other professional groups, and has given expert legal
commentary on emerging growth companies and the technology sector for CNN
Moneyline, CNBC Business Center and various publications. Mr. Mo is the
founder and co-chair of PLI's Advanced Venture Capital conference, served as co-
chair of the Annual Institute on Securities Regulation from 2001-2006, and has
been a member of the advisory board for the Annual Securities Regulation
Institute in San Diego. He serves a number of community organizations,
including as a member of the board of directors of the influential Joint Venture:
Silicon Valley Network.
Honors and Awards
* Named Who's Who 2008 by the San Jose/Silicon Valley Business Journal
* Recognized as a leader in Corporate/M&A: deals in Asia in the 2007 and 2008
editions of Chambers USA: America's Leading Lawyers for Business
* Selected by California Law Business as one of the "top 20 lawyers in the State
of California under the age of 40"
* Named one of the top lawyers in Silicon Valley by San Jose Magazine
* Featured in American Lawyer as a "Dealmaker of the Year" for 2003
Samba Murthy is a Silicon valley serial entrepreneur and startup CEO from the
semiconductor and computer networking industry. He was recently featured in
"They made it!", a recent book about silicon valley entrepreneurs (http://www.
happyabout.info/theymadeit.php). He has direct experience founding and
growing venture funded semiconductor and systems companies based in
silicon valley and India, managing off shore and multi geographic development
teams. Mr.Murthy successfully developed and launched the industry's highest
performance deep packet inspection content processor three times larger than
the Pentium with 500+ man years of development at his most recent startup
venture Xambala. He maintains extensive industry connections including venture
capital, Investment banks to source experienced talent for engineering,
marketing and sales. and his specialities include New product, technology and
business development, corporate strategy, offshore development strategies,
Venture and debt financing, mergers and acquisitions, IP management. He
holds BSEE and MSEE degrees, with multiple patents on Ethernet and data
communications technology. He currently serves on the board of two startups
and working on his new venture ideas.
Howard Lee is an Executive Director and co-heads CDIB Capital’s U.S. office,
where he leads its investment activities in the venture and growth equity asset
classes. Prior to CDIB Capital, Howard was a General Partner at Crystal
Ventures, a venture capital firm that focused on early-stage infrastructure and
enabling technology companies in both the US and Asia. At Crystal Ventures he
led communications-related investments. Prior to Crystal Ventures, Howard
served as Vice President at global venture capital firm Crimson Ventures in
1999, where he led communications infrastructure investments in the US. Prior
to Crimson, he was Vice President and co-founder of Volendam Capital
Advisors, a venture fund that invests in emerging growth high technology
companies in the US and Europe. Howard has held management positions in
product management and marketing at Applied Materials and has worked as a
research investigator in optoelectronics and semiconductor materials at the US
Army Research Labs. He has also held engineering positions at IBM and Unisys.
Mr. Lee holds a BS in Electrical Engineering and a PhD in Electrical Engineering
and Electro-Optics from Cornell University, and an MBA from INSEAD in
Fontainebleau, France.
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| CCICE. All Rights Reserved. |
| Contact Us: info@ccice.org |
| Register at: www.acteva.com/go/Whilmerhale |
Blood, Sweat and Tears Series
Photography by:
Juan “Alice” Sundberg
Juan “Alice” Sundberg