When is it realistic to raise capital for a brand new company? How should you calculate the amount of money to raise? How should you define the use use of proceeds? What materials are required to fundraise? How do you identify and qualify target angel and seed stage investors? How do you find a lead investor? What do investors expect from the company? What are typical investment structures and deal terms for seed-stage financing? How do you negotiate terms?

1. Startup Financing
Founder Institute – June 29, 2011
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© 2012 Nomadesk, Inc.

2. about.me/FilipTack
► Co-Founder at Nomadesk, a leading provider of cloud storage, file
sharing and synchronization software that enables users to access,
share, synchronize and safeguard files from any location, whether
online or offline.
► Co-Founder at Carambla, a real time Marketplace for parking.
► “Startup executive” with a predilection for disruptive innovation and
startup business (SaaS, Cloud Computing); raised over € 7 million
in venture capital (seed, series A and B).
► Nomadesk is venture-backed by Gimv, BAMS Angel Fund and BAN
Vlaanderen. Received the EBAN Award for “Most Successful
Angel-Backed Company” in 2009
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

3. Who We are
► Nomadesk offers the easiest and
most secure way to share files for
professionals.
► What Customers Say – How We Compete:
– “Zero thought, in-the-flow file sharing and data security”
– Nomadesk at Kirsten Realty
– Nomadesk at CEO Collaborative Forum
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

4. How Nomadesk Works – “5 Magical
Things”
• Nomadesk creates virtual
drives on your computer that
are mounted like a hard drive
and act like a fileserver
• “Drag-and-drop” a file in the
Nomadesk drive and it is
automatically…
256-bit encryption
mobilized and
encrypted and
synchronized to made accessible
stored locally on
your other via any
your computer;
computers smartphone,
offline availability
tablet
backed-up to a
secure data shared with other
center; people you’ve
compliant with invited
EU privacy laws
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

5. Tough Cookie: The Odds…
► …are against us!
– Idea to IPO  6 in 1.000.000
– Plan to IPO  6 in 1.000
– Funded to IPO  1 in 10
o (source: Saratoga Venture Finance)
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

6. Tough Cookie: The Financing (Dutch)
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

7. Funding Resources
1. FFFF (“Love Money”) is insufficient
2. Banks offer credit on collateral:
– Team risk
– Product risk
– Market risk
3. VC-funds are only interested in large deals:
– Team risk
– Product risk
– Market risk
4. PE-funds are only interested in super-large deals (leveraged
by n 2)
– Team risk
– Product risk
– Market risk
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

8. The Mission…
“patience”
“guts”
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

9. Staged Financing, a “Bumpy Ride”
CF
Bank
Venture Capitalist
Business Angel (syndicate)
Entrepreneur
Sweat equity Seed money Start-up Expansion time
2004: 2005: 2007: 2010:
Founder Funding Angel Funding “Series A” VC Funding “Series B” VC Funding Sales
Concept Expansion
know how regional
Prototype Product
time support market
Product Marketing
research segment
proof of introduction
engineering helpdesk
concept
prototype 1st personnel working
product dev. maintenance
1st marketing start marketing capital
plan business plan product
management team
production enhancements
prototype market studies
marketing plan
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

10. Founders – Friends – Fools – Family
► FFFF = insufficient €
► FFFF = risk profile?
► FFFF = experience?
► FFFF = expectations?
► FFFF = fragmented capital structure?
►  Founders – Friends – Fools – Family
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

11. Business Angels – Venture Capital
► Think “Dilution” – and come to grips with it!
► Think “EXIT”!
► “Do You Want To Be Rich, Or Be the King?”
– paradox: when founder-CEOs do well, it increases the chances
that they’re going to be replaced.
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

12. BA versus VC
► Business Angels: ► Venture Capital:
– Small pockets – Deep pockets
– Heterogeneous (“risk”, – Fragmented landscape 
“professionalism”, etc.)  “Deal Flow” trap!
hard to manage! – Bitingly professional
– Deal makers/breakers – Portfolio-driven
– Project-driven – More “hands-with”;
– More “hands-on” “hands-off”?
– Fragmented shareholder – Simple shareholder
structures (risk- structures (liability-
management) management
– To be discovered… – To be discovered...
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

13. Key Considerations – For Entrepreneurs
► The (founder) CEO should acknowledge that:
– The “risk-capital supply chain” is what it is – for good reasons;
hardly any short cuts (YOU  BA  VC  Banks?!)
– Interest of BAs and VCs are not fully aligned:
o Project-drive (BA) versus portfolio-drive (VC)
o Same trousers YET smaller pockets
– Conflicts will arise, so become a referee!
– You need help:
o Build a balanced board
o Independent directors
o Peer networks/mentor
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

14. Five for the road for entrepreneurs...
1. Team
2. Commitment (“Skin in the game”)
3. Business idea; i.e., Exit potential
4. So… bootstrap!:
– Tests team dynamic
– Demonstrates commitment
– Validates business idea
5. Be flexible, avoid complex deal structures
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

15. If the going gets tough, NEVER forget
that...
► “One of the greatest pains to human nature is the pain of
a new idea. It makes you think that after all, your
favourite notions may be wrong, your firmest beliefs ill-
founded.
Naturally, therefore, common men hate a new idea, and
are disposed more or less to ill-treat the original man
who brings it.”
o Walter Bagehot (1826-1877); a British journalist and early editor of
“The Economist” specialised in institutional economic issues.
This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.

16. Contact
Filip TACK
Founder
filip.tack@nomadesk.com
twitter.com/nomadesk
about.me/FilipTack
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This document is strictly confidential and must not be given to any third party, or be reprinted or copied in whole or in part without the prior consent of the author.
© 2012 Nomadesk, Inc.