Confidential, Trade Secret and Proprietary
TVC Overview | Confidential, Trade Secret and Proprietary | 2
< San Diego HQ
< Led by software operating executives
<
Investing TVC III, $115M, closed January 2015
< 4 investments in TVC III to date totaling $41M
$235M
under
management
< Focus on mission-critical software companies with $2.5M+ in
revenue, sweet spot in $5M-$10M range
< Differentiated strategy: Mix of growth equity transactions,
acquisitions, and model conversions with rigorous focus on
target market
0
Failures
across 20
investments
< Create value through operational inputs
< We work “in the trenches” with our portfolio companies to
accelerate growth, maximize value, and position for an
attractive exit
About Us
Portfolio
TVC Overview | Confidential, Trade Secret and Proprietary | 3
What Our Partners Say
TVC works closely with our
management teams to
professionalize the
organization and improve the
likelihood of an attractive exit.
< Expanding sales,
marketing and business
development activities
< Bolstering the depth and
breadth of management
teams and key personnel
< Expanding and/or refining
product lines to improve
competitive differentiation
and accelerate market
penetration
<
Implementing operational
efficiencies to drive
growth and margin gains
TVC Overview | Confidential, Trade Secret and Proprietary | 4
Henry Albrecht, CEO, Limeade
“Partnering with TVC Capital was game-changing for Limeade. They provide real operating insights in
ways most venture investors can’t. Every day, they put their reputation, connections and experience to
work for us — whether we ask or not. They are investors, but also friends and mentors.”
Mike Newman, CEO & Founder, Accordent Technologies
“TVC Capital, representing our first and only institutional capital, provided immense support and insight
as we executed on our business plan, developed our exit strategy, and ultimately were acquired by
Polycom, Inc., in March 2011. Their commitment, not only to focused execution, but also to the efficient
use of capital helped differentiate Accordent, helped preserve value, and ultimately yielded a positive
outcome that has received accolades and widespread attention.”
Barry Clapp, President & CEO, Centage
“I feel that I have a true business partner in TVC Capital. They are not just ‘investors’; they are
experienced managers who understand the challenges and opportunities that we face each day and they
are able to offer guidance and advice that is invaluable to helping us to grow our business. Whether
financially, strategically, or tactically, their counsel always enhances and improves the decisions that we
make in running our business. In addition, our partnership with TVC Capital has elevated the overall
capabilities and access to resources for Centage Corporation which has put us on a much enhanced
pathway to success.”
Rob Katz, President, Del Mar Datatrac
“Working with TVC Capital, we had the unique opportunity to grow DMD, sell it to Fiserv in 2005, buy it
back at a very deep value in 2008, reengage the customer base, and exit again, this time to Ellie Mae in
2011. As the president of DMD, I could not have asked for a better financial partner. The TVC team was
there when we needed guidance, were supportive of our key decisions, and were integral in exit
negotiations. I would work with them again in a heartbeat.”
Liz Pearce, CEO, LiquidPlanner
“TVC Capital has been an amazing partner to LiquidPlanner over the last two years. The entire team is
top-notch: they take the time to deeply understand our business, and they have the experience to back
up their advice. Whether it’s on day-to-day operations or long-term strategy, TVC’s contribution to our
business has been consistently strong and valuable.”
TVC provides capital for growth, recapitalizations, buyouts, and acquisition financing. Our focus is
on North American software companies that:
< Generate $2.5M+ in revenue
< Meet a mission critical need of target customers
< Have developed a unique competitive position by offering superior product solutions
< Are poised for growth such that the technology and operating backgrounds of the TVC
team can have a rapid impact on value creation
Investment Focus
TVC Overview | Confidential, Trade Secret and Proprietary | 5
Sustainable
Competitive
Advantage
Target Company Characteristics
Proven
Financial
Model
Experienced
Management
Team
Favorable
Competitive
Environment
Attractive
Growing
Market
Realistic
Exit
Opportunities
Growth
Equity
Minority
Investments
Transaction Structures
Private
Company
Acquisitions
Divisional
Carve Outs /
Divestitures
Recaps
Take Private
Acquisitions
Platform Roll
Ups /
Sector
Consolidations
Representative Areas of Interest
TVC Overview | Confidential, Trade Secret and Proprietary | 6
Enterprise Video
the ubiquity of consumer
video is driving increased
adoption of video in the
enterprise
Cloud Enablement
interoperability, integration,
security and migration enablers
are making the cloud more
operationally attractive
FinTech
changing regulatory landscapes,
increased operating margin
pressures, and challenging
growth outlooks are creating
opportunities for new
technologies
Digital Health
healthcare reform, doctor
shortages and consumer
preferences are forcing
healthcare providers to
professionalize and streamline
operations
SaaS Conversion
transitioning from
on-premise to SaaS
Sector Specific
tailored vertical applications
often provide superior
functionality over broad,
horizontal offerings