Reed Elsevier Ventures Overview

Tony AskewGeneral Partner

Reed Elsevier Ventures

BVCA Summit

17 October 2013

3

Reed Elsevier is one of the world’s leading provider of professional information solutions

~$26bn market cap

$9.3bn annual revenues

$6bn digital revenues

4

Reed Elsevier Ventures (REV) was founded in 2000 and has a dual focus: make money and be strategic

5

We have an LP/GP structure and have raised a total of $250m from Reed Elsevier over a number of funds

• REV is structured as a VC Investment Partnership– Clear alignment of incentives with other investors and management

• typical fund structure, 10 years duration for each fund• management fee• carried interest remuneration

– Invests $1m to $10m for large minority stake • typically 10-30% equity ownership• Series A/B, some later stage• Lead and syndicate investor

– Fast, transparent decision making

• REV people are from the world of VC– VC skillset: diligence, investment discipline and mindset– Distinctive experience and network– Active investor, board seats and governance

We run a typical venture capital process with a focus on rigour and fast paced & clear decision making

6

• Rigorous diligence, VC financial returns hurdle

• Streamlined investment approval process (Investment Committee of CFO, CSO & REV Partners)

• No BU champion/blackball• Sector focus and pro-active

targeting of companies • Active post investment via board

seats to exit• Active portfolio management• Aligned long term focus with

management and other investors

7

We invest in high growth technology, information & media companies across the US, Europe and Israel

Acq. By informatica

Acq. By Akamai Acq. By IBMAcq. By Business Obj.

Large scale data, analytics & enabling technologies

Healthcare information & software

Internet, information, new media & mobile

Acq. By D&BAcq. By IHS

TASE: BBYL

Acq. By RH Donnelly

• Acq. By Optum Health.Acq. By Galapagos NV

Acq. By FAST Acq. By VignetteAcq. By IBM

Please feel free to contact us to learn more

8

Tony AskewGeneral Partner

tony.askew@reedelsevier.com

Kevin BrownGeneral Partner

kevin.brown@reedelsevier.com