1. SPEF - GROUPE BANQUES POPULAIRES DEVELOPMENT PHASES OF A START-UP From Birth to Maturity Valérie Gombart

2. SPEF - GROUPE BANQUES POPULAIRES SPEF Investment Bank of the « Groupe Banques Populaires » Mergers and Acquisitions Venture Capital, LBO, MBO, MBI … 430 USD millions under management, half of which is dedicated to start-up

3. SPEF - GROUPE BANQUES POPULAIRES Development Stages Banque Populaire Innovation 70 M USD NATEXISCapital Banque Populaire Création 10 M USD Time Time Growth SPEF Pre-IPO European Fund 25 M USD SPEF e-Fund 100 M USD

4. SPEF - GROUPE BANQUES POPULAIRES Early Stage : It’s time to... Get your seed money from friends & family versus VC Think patents (offensive and defensive moves) Do not neglect your Marketing Strategy (competitive advantage, market segmentation, choice of focus …), while developing your product Example from SPEF Portfolio : www.nexgen- software.fr

5. SPEF - GROUPE BANQUES POPULAIRES Take-off : It’s time to... Stop improving your product : sell it! Build your dream team & be prepared to share power (focus on sales force) Raise money from VC : choose them! Example from SPEF Portfolio : www.takasic.com

6. SPEF - GROUPE BANQUES POPULAIRES Pre-IPO : It’s time to... Think world-wide expansion Structure your management team (financial department…) Work on Public Relations (towards clients but also financial institutions and analysts) Example from SPEF Portfolio : www.memscap.com