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Outline

Overview of Mohr DavidowFinancing path for Cleantech InnovationsTodays landscapeWhat were looking for

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Mohr Davidow at a glance

Foundedin1983 Investedinmorethan275companies$2BUnderManagementCurrentlyinvesngfromMDVFundIX

28 Years of Early Stage

Venture Investing

MuldisciplinaryDeepdomainexperse InvestmentadvocatesThesis led Strategy

Cleantech LifeSciences EnterpriseandInfrastructureITWebandMobileIT

Diversified AcrossFour Categories

Cultureofrisktaking,pioneeringnewareasHandsoncompanybuildersInnovaonliesatcoreofventurereturns

PassionateCommitment toInnovation and

Entrepreneurship

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ElectricalEngineeringandComputerScience

CenterforLawandTechnologyBerkeleyEnergyResourcesCollaboraveEnergyInstuteatHaasCleantechtoMarket

PresidentsCircleInstuteofMedicine

VentureCapitalFundEconomicsDepartment

LeaveySchoolofBusinessCenterforInnovaonandEntrepreneurship

SchoolofLaw

InformaonSciencesandTechnologyDivisionofBiologyTrustee

MedicalCenterExecuvecouncilMissionbayCapitalFundCenterforPersonalizedMedicineFoundaon

QB3IndustryAdvisoryBoard

NeuroscienceInstutePrecourtInstuteforEnergyEfficiencyInstuteforEconomicPolicyResearchInstuteforImmunity,Transplantaon,andInfecousDisease

BusinessAssociaonofStanfordEntrepreneurialStudents

TechnologyVenturesProgramEconomicsDepartment

McCombsSchoolofBusiness

CenterforGenecsandGenomics

AdvisoryCouncil

University and Research Affiliations

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MDV Innovators Award

PaulAlivisatos JayKeaslingJeffreyKoseff

SallyBenson

PaulWright

Recognize faculty taking entrepreneurial and innovative approaches

that have the potential to disrupt markets.

UCBerkeley/LBL StanfordUniversity

MDVAdvisors

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RachelSegalman

JanLiphardt

MichaelMcGehee

YiCui

NickMelosh

TomJaramillo

DeliaMilliron

AliJavey

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Leading Cleantech Portfolio

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Fuel Cells UAVs

Thin-film Solar

Solar Systems

Solar Development

Cellulosic Biofuels

Engineered Chemicals

BioChemicals

Coal Gasification

Energy Storage

Building Materials

Solar Fuels/Chemicals Mining/Materials EnergyEfficiency

LED lighting

LED Lighting

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Financing path for cleantech innovation

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Landscape: Venture financing

CT Venture capital

2010: $7.7B investment 2011 Q1:

record high $2.6B global Increase 13% over Q1 2010

Increased capital perdeal

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Landscape: Exits

Confidential 8

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Challenges specific to university spin outs

Faculty,students

Research Invenon

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Characterizefeatures

Designprototype

Esmatecost

Defineapplicaon Opportunityassessment

Marketspecific

Valueproposion

DiscloseIPtoOTL

Patentability,FTO

Filepatents

Validated,protectedtechnology

Fundingandcompanyformaon

Marketopportunity

Team

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What we look for

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Evaluating Deals for Venture Investment

MarketSolu,onsnotTechnologyPla5orms

Breakthroughs in scienceand engineering

Innovative business models Matched to market needs Disruptive & Defensible High margin

Tenacious Attract other great people Understand market forces and

technology

MARKET

PRODUCT/

TECHNOLOGY

TEAM

Large, disruptable Accessible channel for startup Diversified customer set Capability driven buyers

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Enabling economics Technology innovation

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Combiningtocreateopportuni,esforalterna,vestoreachcostparitywithconven,onalproducts.

Opportunity forsubstitution

Need for increasedresource productivity

Advances in materialsscience

Diffusion of IT solutions

Convergence of drivers for our CT investments

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Enabling economics Technology innovation

Confidential

Alternative energy solutions

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Integraon

Energydemand

Energysupply

Investment Focus

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Investment Focus

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Enabling economics Technology innovation

Alternative energy solutions

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Storage

SmartGrid

Solar

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Thank you!

KT Moortgatktm@mdv.com

http://www.mdv.com

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Current landscape

Downstream financing:reopening but still riskaverse

Partner for scale upIncreasingly transparent

government grants andpolicyLGP, ARPA-E, tax creditsCA RPS

Higher expectationspre-demo scale meansadditional funds

Team experience andaccess is keyDont count on it for

success, but leveragewhere you can

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