National Venture Capital Association

Corporate Venture Capital Program
Exit Prospects for VC backed Portfolio Companies –
Perspectives from Buyers and Sellers

With a weak IPO market, the strategic acquisition remains the most likely liquidity event for most high growth businesses. Join our Corporate Venture Group partners as we explore both sides of this important equation. Several large corporate buyers will tell us what they are looking for in the market and how their willingness to pay has changed over the past 18 months. We will also hear from several sell-side investment professionals who will provide insight on how to best position a portfolio company in this tight landscape.

Perspectives from Buyers in the Market
Greg Foster, Partner, Noro-Moseley Partners (moderator)
Lorena Scott, Director of Corporate Development, Turner Broadcasting - CNN
Rich Miner, Managing Partner, Google Ventures
Brent Brown, Managing Partner, Madison Parker Capital

Perspectives from Sellers in the Market
Phil Giesler, Director of Innovation, Unilever Corporate Ventures (moderator)
Mark Rostick, Director, Intel Capital
Matthew McCall, Partner, Draper Fisher Jurvetson
Dan Williams, Managing Director, Montgomery & Co

Young Venture Capitalist Program
Board Directorship – Theory & Practice

Facilitated by Pascal Levensohn, Founder and Managing Partner, Levensohn Venture Partners

Panelists:
Dayna Grayson, Principal, Northbridge Venture Partners
David Beisel, Vice President, Venrock
Andrew Friendly, Principal, Advanced Technology Ventures
Kevin Bitterman, Principal, Polaris Venture Partners

OPENING GENERAL SESSION

WELCOME:
Kate Mitchell, Partner, Scale Venture Partners and Annual Meeting Chairperson
Dixon Doll, NVCA Chairman & Partner, DCM

KEYNOTE PRESENTATION:
Lee Scott, Chairman of the Executive Committee, Board of Directors, Wal-Mart Stores, Inc.

Known for being a leader in applying innovative technologies to better serve and reach customers, cut costs, and foster growth, Wal-Mart is a case study that all venture investors and entrepreneurs can learn from. Lee Scott will share his insights about how the world’s largest retailer utilizes innovative technology, how they are leveraging green technologies, what the impact will be on retailing and the environment, as well as the company’s outlook for the global economy.

The New Congress & Obama Administration:
Their Impact on Innovation and the Venture Ecosystem

Kate Mitchell, Managing Partner of Scale Venture Partners and the 2009 NVCA Annual Meeting Chairperson, will interview NVCA President, Mark Heesen. This interview promises to provide insight into the direction that the new Obama Administration and the New Congress is headed regarding the venture industry’s top priority issues, including tax policy, healthcare reform, cleantech policy, H1-B visas, and patent reform.

Enterprise Technology: Maximizing Opportunities in a Downturn

History shows that even in downturns some disruptive startup technologies gain traction and become mainstream. This panel will explore how major IT buyers think about shifting their spending when the total budget contracts, and how startups can gain a foothold and grow at the expense of incumbent vendors.

Rory O’Driscoll, Managing Director, Scale Venture Partners (moderator)
David Skok, General Partner, Matrix Partners
Mark Burton, EVP Worldwide Sales, MySQL/Sun
Peter Hoversten, CIO, Transunion
Vince Tobkin, Senior Advisor, Bain & Co.

Consumer Technology: Opportunities in Open Mobile

The advent of new handsets and distribution channels such as iPhone and App Store has shaken up the mobile ecosystem for applications and content. Traditional handset manufacturers, carriers and content providers are regrouping, while new entrants—Google—continue to stir the pot. Startups can find new opportunities and face different perils in this dynamic market.

Chip Hazard, General Partner, Flybridge Capital Partners (moderator)
Mike Baker, Vice President, Nokia/Mobile Advertising
Rich Miner, Managing Partner, Google Ventures
Bernard Gershon, Senior Vice President, The Walt Disney Company

Interview with the Recipients of NVCA’s 2009 Lifetime Achievement in Venture Capital Award

Jonathan Leff, Warburg Pincus, Moderator
Recipients:
James Blair, Partner, Domain Associates
Brook Byers, Partner, Kleiner Perkins Caufield & Byers
Jean Deleage, Founding Partner, Alta Partners
Anthony Evnin, Managing Partner, Venrock
Grant Heidrich, Partner Emeritus, Mayfield Fund

What Does Comparative Effectiveness Research (CER) Mean for Medical Innovation?

CER is the new buzz word in the health policy world. What does CER really mean and what is the potential impact on medical innovation.  Who are the key drivers and is their motivation?

Sean Tunis, MD, MSc, Founder and Director, Center for Medical Technology Policy
Tom Hubbard, Senior Program Director, New England Healthcare Institute
Peter Neuman, ScD, Director for the Center for the Evaluation of Value and Risk in Health at the Institute for Clinical Research and Health Policy Studies at Tufts Medical Center

NVCA Medical Industry Group (MIG) Roundtable Discussion on health care policy priorities and potential impact on health care investor community.  Discuss next steps in moving our priorities forward

All life science investors are invited to participate in an update and open discussion on the MIG’s established priorities and discuss steps in moving these priorities forward.  Topics of discussion will include current issues within the health care reform debate, comparative effectiveness, follow-on biologics, reimbursement, personalized medicine and patent reform.

Lou Bock, Managing Director, Scale Ventures, Moderator
Jack Lasersohn, General Partner, The Vertical Group
Ross Jaffe, Managing Director, Versant Ventures
Dana Mead, Partner, Kleiner, Perkins, Caufield & Byers

Cleantech: The Outlook from Here?

While Cleantech innovation and company building are impacted by many of the same issues as other venture sectors, there are important differences as well. The sector has seen dramatic growth in venture funding due to long term, fundamental global market drivers. One of the largest drivers is government policy. As governments and societies reorient their priorities as a result of the current economic crisis, Cleantech companies will face a different set of both positive forces and challenges than other sectors of the economy. Our experienced panel of experts will discuss this new reality.

Nancy Floyd, Managing Director, Nth Power (Moderator)
Steve Goldby, Partner, Venrock
Jamie McJunkin, General Partner, Madrone Capital
Wilber James, Managing General Partner, RockPort Capital Partners
Patrick Von Bargen, Director, Quinn Gillespie

Innovation Intersection: Cleantech, Traditional IT and Biotech

As Cleantech matures as an industry, the space has attracted generalist VCs and successful entrepreneurs from more traditional technology fields such as IT and Biotech. Perhaps not surprisingly, business plans have reflected a convergence as well. Join us for a discussion of the synergies between innovation in Cleantech and the more traditional venture sectors. Topics to be explored are: How will smart systems and software change the face of Cleantech and take Cleantech innovation to the next level? How will Cleantech energy needs and IT and Biotech innovation converge to form the next generation of green cities and Cleantech systems? Advanced materials – what can Cleantech learn from the semiconductor industry?

John Balbach, Managing Partner, CleanTech Network (Moderator)
Jeff Andrews, Partner, Atlas Venture
Steve Eichenlaub, Managing Director, Intel Capital
Paul Maeder, Partner, Highland Capital Partners

OPENING RECEPTION AND DINNER BUFFET

GENERAL SESSIONS

Opening Remarks and Welcome

Terry McGuire, Partner, Polaris Venture Partners, Incoming NVCA Chairman

Capital Markets Challenge: Future Liquidity for Venture-Backed Companies

The IPO market closed well before the market turmoil in the third and fourth quarters of 2008. Brighter days for the venture capital industry will not appear until liquidity options open up. Some argue that there are systemic problems with our capital markets system in regards to liquidity options for venture backed companies. Our final panel will discuss the current state of the markets and solutions/recommendations to ease the venture-backed company liquidity crisis.

Dixon Doll, General Partner, DCM
Paul Deninger, Vice Chairman, Jefferies
Scott Cutler, Executive Vice President, NYSE Euronext
Chuck Newhall, General Partner & Co-Founder, New Enterprise Associates

Featured Presentation: Jonathan Bush, CEO, athenahealth

athenahealth is a leader in utilizing technology to create cost savings and efficiencies in our healthcare system. With healthcare reform a national top priority and vitally important to economic recovery, Mr. Bush’s insight about the technologies that can facilitate meaningful reform will be important to all venture investors.

The Delicate LP and GP Relationship

The global financial crisis has created unique pressures on the relationship between Limited and General Partners. LP’s have found themselves over allocated in alternative investments, creating an environment where making capital calls is difficult in some cases; LP’s are raising the bar on investments and exits; and some LP’s are selling their venture capital positions on the secondary market. Join us as our panel of respected LP’s discuss what they expect from their general partners and are doing to survive this downturn.

Rebecca Buckman, Senior Editor, Forbes (Moderator)
Geoff Love, Venture and Equity Team Head, Wellcome Trust
Rebecca Connolly, Managing Director, Fairview Capital
Nick Harris, Partner, Lexington Partners

Note: Timing of sessions is subject to change. Speakers will be added to this agenda as they are confirmed.