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AlphaTech Ventures
Target: $75M

Seed Funding Landscape
Then Now
 $250k to $1M Seed Rounds  Up to $3M Party Rounds
 Y Combinator and Techstars  100+ Accelerators and
 Priced Rounds Incubators
 10-12 Seed Stage Funds  Convertible Notes
 Everyone

2

OATV Differentiators
Then Now
 O’Reilly Network  O’Reilly Network
 Investment Themes  Investment Themes
 Funding Strategy  Funding Strategy
 Thought Leadership
 Investment Discipline
 Highly Referenceable Founders

3

Market Dynamics
Then Now
 Funding Gap Between Angels  Funding Gap Between Seed
and VCs and Growth

4

OATV Investment Strategy
Then Now
 Invest $500k to $1M Seed  Invest $500k to $2M Seed and
Rounds Seed+ Rounds
 Lead or Co-Lead Rounds up to  Lead or Co-Lead Rounds up to
$2M $3M
 Participate in Series B and C  Participate in Series B and C
Rounds Rounds
 Opportunistically Participate in  Opportunistically Participate in
Traditional Series A Rounds Traditional Series A Rounds

5

OATV Investment Themes
Then Now
 Quantified Self  Quantified Self Pro
 Internet Subsystems  Maker Pro
 Smart Networks of Things  Hacking Education
 Manipulation and Visualization  Hidden Economies
of Big Data  Operations as Competitive
 Sustainability Advantage
 Maker Movement  A Router in Every Pocket
 The Internet Operating System

6

OATV Fund Returns
Then Now (audited 12/31/11)
 Solid Gross IRR  Fund I
 Negative Net IRR  Like Woah Net IRR
 Um, Wow Gross Multiple
 R U Kidding?!? Net Multiple
 Fund II
 Really? Net IRR
 Is That Possible? Multiple
 Nice Net Multiple

7

OATV Fund I Projected Return
Then Now
 Downside  Beating Base Projected Net
Multiple
 Base
 Upside

8

Team
Then Now
 Mark Jacobsen  Mark Jacobsen
 Bryce Roberts  Bryce Roberts
 Tim O’Reilly  Tim O’Reilly

9

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