1. Lventure group
A scaling tech hub
Apr /
2019

2. Safe harbor statement
This document may contain forward-looking statements, which reflect current views of the management of LVenture Group, (the “Group” or “LVG”) with respect to future events and financial and operational performance of the Company and its subsidiaries (the “Group”).
These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance, rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties.
Any reference to past performance or trends or activities of the Group shall not be taken as a representation or indicate performance, trends or activities will continue in the future. Actual results may differ materially from those expressed in or implied by such statements as a result of a variety of factors, including: the Group’s ability to preserve and enhance the value of its startups; changes in the general economic environment; the Group’s ability to successfully carry out its growth strategy; potential conflicts of interest due to director and officer overlaps with the Group’s largest shareholders and other factors discussed elsewhere in this document.
Any forward-looking statements contained in this document speak only as of the date of this document and LVG does not undertake any obligation to update or revise publicly forward-looking statements to reflect events or circumstances occurring after the date hereof. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the reports and filings with Borsa Italiana and CONSOB.

3. Agenda WHO WE ARE Market trends & growth opportunities
Financial highlights
Investment opportunity
APPENDIX
Agenda

4. Agenda WHO WE ARE Market trends & growth opportunities
Financial highlights
Investment opportunity
APPENDIX
Agenda

5. Who
We Are
LVenture Group accelerates and invests in digital startups, trasforming them into scaleups companies to create value
Mission
We trasform talents in successful entrepreneurs

6. OUR numbers €49M €13M €36M 60+ 200+ 100+ invested in startups invested
by lventure Group
€36M
invested
by co-investors
60+
startups
in portfolio
200+
corporates
in the Ecosystem
100+
investors
in our network

7. digital sectors Analytics & Big Data Events & Travel
Community & Education
Fintech & Loyalty
Design & Fashion
Food Tech
Dev. Tools
Health & Beauty
Entertainment
IoT & Smart Mobility

8. Venture Capital J-Curve
>€3M
series b
series c
series d …
~€1,5M
Revenues
~€0,5M
Growth Funds
€145k
Early Stage Funds
series a
Business Angels
Seed Funds
post seed
Family & Friends
Accelerators
Business Angels
Competitions
Challenges
Tech Hubs
Incubators
seed
micro-seed
Grant

9. LVG Investment Model
LVG investment up to €400k

10. the acceleration program
~500
Application per year
3-4%
Acceptance rate
€145k
Standard deal / 9% + convertible note
5 months
Batch duration
Revenues > 0
Minimum target required
80%
Success Seed

11. Open Innovation education incubation sponsorship Digital transfer
Deal flow origination
sponsorship
Network improvement

12. Open Innovation Strategic partnership “supply chain” program
innovation advisory
education empowerment
open innovation
incubation
acceleration
investment program
€1,24 million investment, willing to double

13. investment pipeline incubation micro-seed seed series a up to 2018
2 Acceleration Programs - €80k for each startup
25+ Business Angels - APG -
Pre-Acceleration sponsored projects
now
2 Acceleration Programs - €145k for each startup thanks to Hatcher+
200+ Business Angels - IAG
Indaco Fund
+ Pre-Acceleration sponsored projects

14. the
magic hub
Space
community
ecosystem
startups
events

15. management team

16. Agenda Market trends & growth opportunities WHO WE ARE
Financial highlights
Investment opportunity
APPENDIX
Agenda

17. Most Active Venture Capitalist 2018
LVenture European Leadership
#1 in ITALY
#1 in SOUTHERN EUROPE
Most Active Venture Capitalist 2018

18. Venture Capital is a growing Asset Class
VC European Investment Landscape
Venture Capital is a growing Asset Class

19. INTERNAtIONALIZAtION
italian market advantage
€40M
€7,7B
€7,1B
€30M
€4,4B
€3,7B
€15M
€15M
€2,8B
€2,5B
€10M
€10M
€1,4B
€6M
€5M
€0,9B
€0,6B
€1,5M
€0,2B
@ Seed
@ Series A
@ Series B+
Record Startup Investments in Italy
2018 = 2x 2017 amount
Why invest in Italian startups

20. italian market ready to take off 01 02 03 04
up to 10% of pension funds aum allowed to be invested in vc
40% fiscal benefit for standard investments
50% fiscal benefit for acquisitions by corporates
new “fondo nazionale per l’innovazione”

21. Agenda Financial highlights WHO WE ARE
Market trends & growth opportunities
Financial highlights
Investment opportunity
APPENDIX
Agenda

22. key financial highlights 2018 €2,8M €15,5M ~€50M ~€26M
Invested in 2018
+11%
17,1
15,4
€15,5M
Net Assets (€12,8 M at )
~€50M
Cumulative value of selected startups**
~€26M
Cumulative value of startups revenues
LVG portfoglio growth* (M)
*NAV calculated following the Alternative Performance Indicator (IAP) based on startups post-money value as of
**Selected startups as detailed in slide 25 - NAV calculated on IAP as of

23. key financial highlights 2018 €3,4M -€0,7 €0,5M €0,4M €2,8M -€0,8M
revenues
+42% YoY
EBITDA
+17% YoY
EBIT
+200% YoY
€0,4M
€2,8M
-€0,8M
NET INCOME
+160% YoY
INVESTMENTS
+8% YoY
NET FINANCIAL POSITION
-88% YoY

24. Partnership LVenture Group 2018 hatcher+ apg - iag merge facebook
fondazione cariplo

25. key selected startups IAP ~€19M IAP ~€6,5M IAP ~€9M IAP ~€7,5M
Soundreef is a digital music copyright and royalties management platform. Soundreef came in as the disruptive alternative in the market by combining innovative technology with personal customer service.
Codemotion is an event format and a digital platform that connects developers with corporates. It is the pioneer of Hackathons events in Italy and one of the European leaders.
Gamepix is an online platform that publishes and promotes HTML5 videogames. It has been one of the first companies in the world to specialize in HTML5 games.
Manet is an innovative solution for hotels, b&bs and their guests designed to revolutionize hospitality and the whole travel experience. It combines smartphones with a web dashboard operations.
Insoore is changing the way insurance companies operate their claims management. It’s a platform that drastically reduces their costs by connecting the companies to users paid to provide real-time photo-documentation of a vehicle.
25k songwriters & publishers worldwide - 11k in Italy
Operations in 20 countries
100+ corporate partnerships
+28k developers
~10 European conference a year
100k publishers
300+ games
110M+ users
~3k active smartphones
~3k hotels & b&bs
Partnerships with Samsung and Vodafone
~3k active smartphones
~3k hotels & b&bs
Partnerships with Samsung and Vodafone
Cash invested €398k
Share 6,76%
Last Portfolio Value €1,29M
Cash invested €160k
Share 9,01%
Last Portfolio Value €563k
Cash invested €310k
Share 20,58%
Last Portfolio Value €1,83M
Cash invested €350k
Share 10,28%
Last Portfolio Value €0,75M
Cash invested €350k
Share 10,28%
Last Portfolio Value €0,75M
IAP ~€19M
IAP ~€6,5M
IAP ~€9M
IAP ~€7,5M
IAP ~€7,5M
GitHub main competitor, sold to Microsoft for $7,5B
Handy main competitor, $1,5B valuation

26. Strategic Roadmap 2019-2022 Investments growth Operational efficiency
Investments in startups up to €4,5M in 2022, reaching cumulative €30M at the end of Plan
Investments growth
Operational efficiency
Break even at EBITDA level in 2019
Startups revaluations YoY thanks to additional capital increase and extensive rounds. #15-20 Exits expected at the end of the period, with significant return on capital invested
Maximise startups portfolio & Exits
Strengthen of Balance Sheet
Up to €8M capital increase in 2019
Dividend policy
Dividend distribution from dividend payout ratio of 15%
Boost european presence
Build-up a physical presence in Europe

27. key financial guideline (€M)
Business Plan
key financial guideline (€M)
2018
2019E
2022E
36% CAGR
revenues
3,4
5,0
8,3
54% CAGR
ebitda
(0,7)
0,0
0,8
125% CAGR
net result
0,4
0,8
2,4
40% CAGR
investments
2,8
3,0
4,5
244% CAGR
cash in from exits
0,9
2,2
9,7

28. Funding pipeline 2019
Strong revaluations expected in 2019, driven by large investment rounds
2019

29. Exits pipeline 2019
significant pipeline of exits expected, creating value for all shareholders

30. Agenda Investment opportunity WHO WE ARE
Market trends & growth opportunities
Financial highlights
Investment opportunity
APPENDIX
Agenda

31. LVG on the Stock Exchange
LV.EN. Holding 32,0%
Free Float 51,8%
Market Cap ~€20 million*
Futura Invest 6,0%
(57,7% owned by Fondazione Cariplo)
Luiss 4,2% (not listed)
Kairos 3,8%
Sara Assicurazioni 2,2% (1,1% not listed)
* shares, o/w not listed

32. investment opportunity
CAPITALIZING ON DIGITAL SECTOR GROWTH
MATURE PORTFOLIO OF SCALEUPS
STRONG MANAGEMENT TEAM
HIGH RETURNS FROM EXITS

33. Agenda APPENDIX WHO WE ARE Market trends & growth opportunities
Financial highlights
Investment opportunity
APPENDIX
Agenda

34. Portfolio Analysis N. of startups in % % of investments
Poor Performers
18%
Poor Performers
32%
Stars
(>3x) 45%
Stars
(>3x) 32%
High Potential
(1x-3x) 10%
Investment Recovery
(~1x) 26%
Investment Recovery
(~1x) 25%
High Potential
(1x-3x) 12%
42% of LVG portfolio startups (Stars + High Potential)
are performing extremely well
57% of LVG portfolio investments are made
in the best startups (Stars + High Potential)
56 startups with more than 12 months + Lybratech out of 65 - data as of

35. Contact us telefono +39 06 4547 3124 email
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