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Brightspark Ventures
• Fund I completely invested or committed
• Fund II 100-120M$
• To be invested predominantly in Montreal – Toronto
and Ottawa (offices in Mtl and Toronto)
• Seed and early stage software
• Very involved in portfolio companies
• Focus on IP creation and market opportunity
• Pro-active to invest in interesting sectors
• Entrepreneur/experts in residence
Brightspark Capital Partners
More than 20 years private equity experience
More than 25 years operational experience
A team that has worked together for many years
Tony Davis
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Over 20 years experience in software engineering and product design
Inventor of WinFax PRO communication system at Delrina
Founder of Lanacom (acquired by BackWeb)
Founder of Delano (IPO)
Co-Founder of Brightspark
Sophie Forest
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Over 14 years experience in technology venture capital
Former Partner at CDP Capital- Technology Ventures
Key investments include Servicesoft (acquired by Kana) and Locus (acquired by Infospace)
Active Board participation and LP liaison
Mark Skapinker
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Over 24 years experience in software and technology businesses
Co-founder of Delrina (acquired by Symantec)
Founder of Balisoft Technologies (acquired by Servicesoft, Broadbase, Kana)
Co-Founder of Brightspark
Brightspark Approach to
Company Building
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Brightspark at the “Idea Concept” Stage
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Brightspark at the “Seed Investor” Stage
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Identify market potential / needs
Focus on interesting “space” with huge potential
Identify domain expertise
Focus on technology prototype and business planning
Move companies to Seed Stage
Invest in business opportunities
Unique deal-flow
Early-stage investor with value-add capabilities
Move companies from ideas to exits
Experience for trade sales and IPO exits
Deep involvement with Portfolio Companies
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Zig and Zag philosophy
Venture network ready to jump-in
Corporate culture
Frugality
Exit
Growth
Seed
Idea
How is Brightspark
Different than Others?
• Massive amount of experience with software
companies
• Looking to “make new mistakes and learn from old
ones”
• Willing to invest in opportunity and not only managers
• Competitive advantage through the ability to
complement management teams quickly and efficiently
• Focused culture led by example – frugality
• Companies are closely nurtured
• A complementary team: technology, investment,
operations
What is Brightspark’s
Investment Criteria?
Software focus
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Domain expertise
Defendable IP creation
Large or growing market opportunity
Strong product opportunity
Clear value proposition
Defined need
Early evidence of market acceptance
Clear revenue and cost model
High value customer ROI
Evident exit opportunity
Sector focus
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Enterprise software (“must-have” software)
Wireless and communications software
Infrastructure software
Finding Success in a Recovering
Market
Proving the Brightspark Model – Think Dynamics
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Utilized domain expertise
Zigged and Zagged from a “services” to a “product” company
Used network of venture advisors when management imploded
Planted experts into the company
Brightspark led the M&A process
Think Dynamics was acquired by IBM in 2003
Investment multiple 8.2X in 2 years
Our technology vision / focus
• Traditional markets
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Still in recovery mode
Must have versus nice to have
Strong ROI value proposition
Defined channel partners
• Emerging markets
• Mobile communication
• IP telephony
• Wireless/home networking
• Focus on areas where spending is significant
Brightspark portfolio example
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Siperian (CA) data management
Tira Wireless (Tor- Boston) Wireless
Iotum (Ottawa) VoIP applications
Yariba (Ottawa) VoIP Security
• First 2 investments in Fund II
• Cluster computing – Montreal
• Wireless - Toronto