Quarterly review of the investment ecosystem in Europe - Calibre One

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Calibre One Recent Assignments Plum District – VP Sales Investors: Kleiner Perkins Caufield & Byers, General Catalyst Partners Jiff – CEO Investors: Aberdare Ventures, Aeris Capital WhaleShark Media – Director, Product Management Investors: Adams Street Partners, Austin Ventures, Google Ventures, Institutional Venture Partners, J.P. Morgan Asset Management, Norwest Venture Partners RealAge.com – VP Product Management Investors: Hearst Corporation PROS – Chief People Officer RLTec – CTO Investors: Low Carbon Accelerator, Carbon Trust Capgemini – Director of BD Insurance Castlight – CMO Investors: Morgan Stanley, Wellcome Trust, US Venture Partners 2 Calibre One : International Executive Search The Quarterly Transatlantic Tech Investment Review
Foreword Contents Recent Assignments 2 Foreword James Brocket discusses Quarter 1 3 Investment Analysis 4 Deal Highlights US 8 Deal Highlights Europe 9 Investments 10 North America 10 United Kingdom 18 France 19 DACH 20 BENELUX 20 Northern Europe 21 Ireland 21 Southern Europe 21 Eastern Europe 22 Israel 22 Executive Moves 23 Communications 24 Internet 26 Software 28 Hardware 30 Business Services 32 Cleantech 34 The Quarterly Transatlantic Tech Investment Review Welcome Established in 1999, Calibre One is a leading, international Executive Search firm based in Europe and North America. Calibre One specialises in building main board and senior management teams for Venture Capital and Private Equity backed software, hardware, business services, communications, cleantech and internet businesses. We work with investors in North America, Europe, Asia Pacific, Latin America, South Africa, and Israel. The Calibre One Index is a comprehensive review of the investment ecosystem in Europe and North America. The Index details the VC investments made in technology firms and some of the moves made by the people that lead those firms. Published in Europe and North America every January, April, July and October, the Calibre One Index is compiled by Calibre One – the world’s leading technology Executive Search firm. James Brocket Managing Partner – Europe Looking at the investment numbers for Q1 2012 it’s clear that 2012 is off to a very slow start indeed. All measures are markedly down in all regions, perhaps most alarmingly in the US where there has been a 50% fall in the total capital invested compared to Q3 2011 – albeit that was a record quarter. As I write this, the news is that Facebook has acquired Instagram for $1bn which has predictably prompted the doom-mongers to fan the flames of hysteria about a new tech-bubble. Certainly $1bn looks to be a full valuation for a 2 year-old company with 11 full time employees, albeit one with 27m highly-engaged users. Still, when it’s only around 1% of your likely valuation at IPO it puts it into perspective. Any bubble is fuelled by positive sentiment driven mainly by large returns, on paper and realised, for investors. The Index numbers are not consistent with a bubble, and this is somewhat comforting. While the headlines are grabbed by these landmark deals, VCs seem to have their feet firmly on the ground. The same could not be said in the last bubble. There are still a good number of deals being done but these seem generally smaller – the average deal size is well down in most major regions. Hopefully sentiment will continue to improve. Facebook will storm its IPO and there will be no more crises to deal with in the Eurozone. In Q2, it will be interesting to see if this is just a blip in the numbers – or perhaps there is a move back to some more early-stage VC investing. Calibre One : International Executive Search 3
Page 1: index Quarterly review of the inves
Page 5 and 6: Total number of Investments Quantit
Page 7 and 8: investments Quarterly review of tec
Page 9 and 10: Deal Highlights Europe Name: SoundC
Page 11 and 12: North America Investments Month Dat
Page 13 and 14: North America Investments Date Comp
Page 19 and 20: France Month Date Company Total Tot
Page 21 and 22: Northern Europe Date Company Total
Page 23 and 24: Investment Summary executive moves
Page 25 and 26: CTO Company Headline Sector Story L

Quarterly review of the investment ecosystem in Europe - Calibre One

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