NDSU: College of Business Administration: Executive Education

October 16, 2001

Venture Capital for North Dakota

Venture Capital. We often hear this term used today, especially in relation to e-business and Internet start-up companies. For business entrepreneurs in our region, it means a source of funding that is the difference between an idea turning into a viable revenue and profit generating business, and it staying an idea. For an investor, it can mean participating with new business ventures that hold the possibility of bringing returns on investment far beyond most institutional investing.

This seminar focuses on the keys to attracting, accessing and securing venture capital for North Dakota business entrepreneurs. This seminar follows the GNDA annual business conference, and will address the process of linking entrepreneurs, capital and technology in startup ventures aimed at value creation.

KEY DISCUSSION POINTS

Prior to co-founding TwentyTen, Jim was a manager at Pittiglio Rabin Todd and McGrath (PRTM), a global management consulting firm to high-tech companies. He has had a leadership role in the development and commercialization of a myriad of technology-based products, some with NPV’s in excess of $1 billion. Prior to consulting, Jim progressed through Imations’s leadership program to become a global product manager in less than 3 years. He had fiscal responsibility for over $25 million in spending on new product launches throughout North America and Europe.

Jim has been involved in nearly every technology vertical over the last 10 years, including aerospace, automotive, chemicals, computers, medical devices, pharmaceuticals, and telecommunications. He has provided portfolio and pipeline management solutions and technical advice to leading companies such as 3M, IBM, Lucent, Nextel, Merck, SAP, J&J, and NASA. Jim most recently provided technical due diligence and post-merger integration advice on a $2 billion M&A transaction for Goldman Sachs.
Jim earned a B.S. in Mechanical Engineering with honors from the University of Illinois in Urbana-Champaign with concentrations in analog-to-digital design and microstructures. To compliment his technical ability, he completed his M.B.A. at the University of Chicago’s Graduate School of Business.

Prior to co-founding TwentyTen, David Martin was an investment banker at Morgan Stanley in New York. He was responsible for advising both large-capitalization and emerging growth technology companies on strategic and corporate finance issues. Representative clients include IBM, Oracle, Silicon Laboratories, webMethods, Compuware, and Computer Associates. David has extensive experience in both capital-raising and strategic advisory assignments, having advised on over $12 billion worth of M&A transactions and $2 billion of debt and equity financing, including several record-setting IPO and M&A transactions in the software industry.

Previously, he was an investment banker in Merrill Lynch’s High Yield Group where he executed over $500 million worth of bond issuances for clients in a variety of industries. David began his investment banking career in 1994 with St. Quintin, a mid-sized firm in London where he worked on commercial real estate portfolio acquisitions and divestitures.

David received an M.B.A. from the University of Chicago with concentrations in Finance and Accounting, an M.A. in Religion from Yale University, and a B.A. in History from Washington and Lee University.

Retired in 2000 and invested in InnoSync, hi-tech computer chip startup in Dallas, TX. He joined InnoSync in Sept 2000 as VP Operations, working with the founder to execute an exciting and compelling business plan. Mr. Johnson is involved in virtually all aspects of building the business, from man-with-a-plan to staff of 30 with infrastructure and products. His current key role is to "translate" Hi-Tech Products into Lo-Tech Applications and translate Engineering Jargon into investor Jargon.

"Selling" InnoSync business plan externally against varied and ever-changing investment criteria to attract capital to execute.

"Re-Learned" adaptability and flexibility, overcoming adversity, and setting and reaching major goals as a team, within a startup.

InnoSync has raised $4.7M from private investors, and is seeking additional capital from private investors, venture capitalists, and strategic investors in parallel. Goal is to complete product development, generate revenue, and reach profitability by end 2002.

Previously, Larry had a 19 year career in the international oil industry with Arco as International Project Manager. Projects were located in Texas, Alaska, Indonesia, Australia, England, Scotland, and Algeria. His projects included billion dollar oil and gas facilities in remote environments both Onshore and Offshore, from Arctic to Tropical, Deepwater to Sahara desert. He was responsible for building and leading multi-cultural teams with diverse technical, political, economic, logistical and environmental challenges.

"Sold" capital projects internally against established investment criteria to attract capital to execute.

"Learned" adaptability and flexibility, overcoming adversity, and setting and reaching major goals as a team, within a large organization.

Larry, originally from Breckenridge,MN, graduated from NDSU in 1981 with BS Mechanical Engineering with honors.