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Bolero crowdfunding slides for entrepreneurs

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Bolero crowdfunding slides for entrepreneurs

  1. 1. Invest and grow togetherMember of the KBC group BOLERO CROWDFUNDING Koen Schrever Entrepreneur presentation, March 2015 CEO KBC Securities/Bolero Crowdfunding
  2. 2. Member of the KBC group What is crowdfunding and what does Bolero Crowdfunding offer?
  3. 3. Member of the KBC group 3 4 types of crowdfunding… presale ‘pretailing’ donation reward loan equity non financial return financial return philanthropy direct equityP-to-B P-to-P social mezzanine convertible equity linked subordinated revenue-sharing crowdfinance
  4. 4. Member of the KBC group registration succes fee administration [ 0 – 250 € ] to get it published [ 3% - 12% of the amount] all-or-nothing all-or-more flexibel funding [ 0% - 3% ] transaction costs payment method Depending of the CF platform & model: Crowdfunding is not a free lunch!
  5. 5. Member of the KBC group focus of crowdfunding Filling the equity gap? KBC Securities is active in the entire value chain!
  6. 6. Member of the KBC group • New exemption added to the Prospectus Law (Article 18§1(j)) • allows crowdfunding without a prospectus so long as the offer does not exceed EUR 300.000, and the maximum amount per investor does not exceed EUR 1000 • No other specific legislation on crowdfunding or crowdfunding platforms in Belgium or within the EU • FSMA issued 2 communications (FSMA-2012-16 dd 12/07/2012 and FSMA-2014-04 dd 26/06/2014) Belgian regulatory framework
  7. 7. Member of the KBC group Growing attention policy makers 4.2. Financiële sector: bank- & verzekeringswezen 4.2.1. Een financiële sector ten dienste van de samenleving “…de regering zal risicokapitaal stimuleren teneinde onze ondernemers voldoende financiering te verzekeren en het eigen vermogen van onze bedrijven te versterken. De regering zal, in navolging van de reeds recentelijk genomen maatregelen inzake de versoepeling van de prospectusplicht, de financiering via crowdfunding verder stimuleren en de activiteiten van crowdfunding platforms beter omkaderen…”
  8. 8. Member of the KBC group Growing attention journalists
  9. 9. Member of the KBC group Snapshot Belgium 2013 Bron: DS Infografiek, Douw en Koren
  10. 10. Member of the KBC group Snapshot Belgium 2014 Source: KPMG: Crowdfunding in Belgium - 2014
  11. 11. Member of the KBC group Snapshot Belgium for the future Source: KPMG: Crowdfunding in Belgium - 2014
  12. 12. Member of the KBC group Investors:  Retail investor clients  Bolero platform , Crowdfunding  Private banking and wealth clientèle  Corporate Customers  private placement Crowdfunding by KBC Bolero? PLUS: ACCESS TO INHOUSE EXPERTISE (M&A, LEGAL, CREDIT, OPERATIONS, ICT, RISK, COMPLIANCE, ETC.) Entrepreneurs:  We see lots of starters who don’t get loans:  Start-It  Connections with entrepreneurs, industry organisations, associations,…  Connection via our branch network  How can we help them? Get access to finance Involve a crowd Investing in early stage
  13. 13. Member of the KBC group • Access to a wide range of entrepreneurs • Cooperation with Venture Capitalists and Business Angels • Screened by FSMA and NBB • Not in a fund • Transparency • Reliable platform What makes Bolero Crowdfunding unique? • Access to crowd-investors (Bolero customers,…) • Combined with Private Placements (wealth and private banking, corporate banking customers) • Start-it and other partners to help entrepreneurs • Early relation with a leading bank • Future-proof structuring of the investment • Very competitive cost
  14. 14. Member of the KBC group What type of companies are in our sweetspot? How can the deal be structured?
  15. 15. Member of the KBC group • No specific sector focus • Companies looking for financial crowdfunding (bonds or equity) • 100k€ - 5,000k€ (combination of crowdfunding and private placements) • Preferably with a first product ready / first paying customers • Preferably with already a professional investor on board • Company legal structure: cvba or NV • CrowdFunding: it’s more than funding… Type of companies?
  16. 16. Member of the KBC group Type of instruments if Project is cvba Project cvba Bond Convertible Bond Equity crowd crowd crowd • Crowd invests in instruments issued by cvba • Cvba manages everything directly (Shareholder-register,…) • Bolero platform could be used for dividend / intrest payments • Crowd can do follow-on investments • Private Placement is separate from crowd, but preferably same conditions Private placement
  17. 17. Member of the KBC group Type of instruments if Project is NV Project NV Bond Convertible Bond Equity crowd crowd • Crowd invests in bonds issued by NV • Crowd invests in a cvba which in turn invests in conv bond or equity in NV • Preferred dividend or remuneration • Board composed of NV board members • Crowd can do follow-on investments • Very limited PoA internal cvba • Extended PoA versus NV (SHA, • Bolero platform could be used for dividend / intrest payments • Private Placement is separate from crowd, but preferably same conditions Private placement SPV cvba
  18. 18. Member of the KBC group Equity investments via crowdfunding Newco NV crowd • BA / VC / PP invest in a company Newco (e.g. C Class shares) • Newco creates SPV cvba to collect funds from the crowd • Newco holds A shares in cvba • Crowd: B-shares in cvba with no voting rights • SPV has observer right in Newco • Small cost; bookkeeping + annual account • Crowd invests in a cvba which in turn invests in Newco • Board composed of Newco board members (e.g. C-Class director, President, Entrepreneur,…) • Templates for the cvba available • VC / BA / Entrepreneur can get leverage with the crowd investment • Crowd can do follow-on investments • Newco can do a new round (D-shares) and only needs 1 signature from the cvba (Crowd) • At exit, proceeds go to the crowd and SPV is liquidated. VC / BA or Private placement SPV cvba Follow-on crowd
  19. 19. Member of the KBC group What does the platform look like?
  20. 20. www.bolero-crowdfunding.be
  21. 21. Member of the KBC group Entrepreneur process
  22. 22. Member of the KBC group 1. Register on the platform: create a username and password 2. Register as entrepreneur: 1. Fill-out the project summary and submit 2. After first approval, submit full details on your project 3. After final approval, publish your project 4. Start working on your crowd: motivate them them, explain, keep informed 5. Wait until the project funding round is finished 6. In case of a successfull project, proceeds are transferred*; if target funding level is not reached, investors will be refunded A few simple steps to take part in crowdfunding ENTREPRENEUR PROCESS * A 6% successfee applies
  23. 23. After this press the submit button Wait for feedback from Bolero Crowdfunding whether your project is suited for the site Once approved you can start putting in all necessary information for the investors After final approval you can publish your campaign and start the fundraising process
  24. 24. Member of the KBC group 1. A video 2. The idea 3. The competitive edge 4. Team 5. Market opportunity 6. Marketing strategy 7. Distribution model What will the entrepreneur provide to the investor? 1. Scalability 2. Financial forecast 3. Revenue model 4. Milestones 5. Use of proceeds 6. Risks 7. Exit plan
  25. 25. Member of the KBC group
  26. 26. Member of the KBC group
  27. 27. Member of the KBC group
  28. 28. Member of the KBC group Investor process
  29. 29. Member of the KBC group 1. Register on the platform: create a username and password 2. Register as investor: 1. Identification with E-ID + acceptance of terms and conditions 2. Appropriateness test 3. Creation of an e-Wallet (automatic) 4. Click ‘invest-now’ on a project that looks attractive to you 5. Choose the investment amount and payment method* 6. Confirm 7. Wait until the project funding round is finished 8. You have invested in case of a successfull project or get refunded* A few simple steps to take part in crowdfunding INVESTOR PROCESS * For some payment methods, 3% surcharge apply which are not refundable
  30. 30. Member of the KBC group Advantages and risks of crowdfunding
  31. 31. Member of the KBC group ADVANTAGES Access to a new way of financing Reasonable costs / effort The power of the crowd: awareness, market feedback, promotion Combination with Venture Capital, Business Angels,… For the entrepreneur ATTENTION POINTS Limited possibilities: €300,000 in total with €1000/investor, unless prospectus or accredited cvba Large number of shareholders if not properly structured Open communication: competition sees what you do A campaign requires time and effort
  32. 32. Member of the KBC group ADVANTAGES Access to young companies at an early stage: growth potential Higher potential returns if company performs well Possibility to spread over a large number of companies Being part of the companies of the future Close dialogue with entrepreneur possible For the investor ATTENTION POINTS High risk: non-achievement of goals, bankruptcy, fraud,… can lead to full-loss of investment Limited transparency: entrepreneurs provides information to the crowd Very limited or no liquidity Possibly a long time to exit
  33. 33. Member of the KBC group The role of Bolero crowdfunding: • No due diligence • No advice • Execution only • Appropriateness test • Disclaimers • Information security: penetration tests and risk scans • Private Placement: matchmaking only, contract with entrepreneur and investor • Entrepreneur responsible for communication with investors via the platform • FSMA/NBB open dialogue Risk mitigation As investor • Be aware of the risk of young companies • Assess the business plan and ask the entrepreneur for additional information if needed • Invest limited amounts of money which you don’t need in short term • Invest in smaller amounts spread over multiple projects
  34. 34. Member of the KBC group How to create a good crowdfunding campaign?
  35. 35. Member of the KBC group
  36. 36. Member of the KBC group Events
  37. 37. Member of the KBC group
  38. 38. Member of the KBC group
  39. 39. Member of the KBC group
  40. 40. Member of the KBC group Entrepreneurial Summit: Feedback Proficiat met het succesvolle event. Ik vind dat jullie de duidelijke nood, opportuniteit & timing voor CF en zo’n event heel knap hebben ingeschat. Ik was onder de indruk van de opkomst en de opname in de pers. De volgorde en de boodschappen van de sprekers zaten goed en de cubes waren knap. De Summit was inderdaad bijzonder geslaagd op alle vlakken: de cubes, de organisatie, de opkomst, de sprekers, de lancering van het onlineplatform (met dank aan Kunstmaan en de voormalige strategisch coördinator van de stad:-), de reacties op twitter, ... Het was top en het geeft een stevige basis om op voort te werken. Even uit persoonlijke naam: ik denk dat de organisatie absoluut top was. Proficiat. KBC, een grootbank met een breed nationaal investerdeerdersnetwerk, is een ideale matchmaker. Fijn om te zien dat jullie dit netwerk aanspreken ten behoeve van startups en ondernemerschap. Ik denk dat jullie initiatief een "schot in de roos" is en het bewijs dat een grootbank ook denkt aan verandering van zijn eigen business model, een schitterend voorbeeld van innovatie in de praktijk. Sta me toe jullie van harte te feliciteren met de 2 launch events van Bolero crowdfunding vrijdag en zaterdag. Het was allemaal zeer professioneel en contentwise sterk. De reacties waren alom positief. Uiteraard was ik persoonlijk ook tevreden om hieraan te hebben deelgenomen. Thank you for all & it has been a great pleasure working with you! Nogmaals proficiat met de organisatie van beide events. thx voor de opportuniteiten en vooral ook aan je hele team voor de vlekkeloze organisatie Was de moeite vandaag! Knap werk van gans bolero team! Kmo- mentaliteit...! Proficiat. Zo gaan we crowdfunding op de kaart zetten in Vlaanderen! Again congratulations for the successful organisation Dank voor de uitstekende organisatie van dit event. Indien er opvolging komt van geïnteresseerde investeerders laat ik het u weten. Ongelofelijk! Ik had een investeerder die het volledige openstaande deel van de ronde wil funden aan dezelfde T&C’s als de VC waar ik mee spreek! Ik was afgelopen zaterdag op de bolero KBC Securities Entrepreneurial Summit, waarvoor trouwens mijn complimenten voor u en uw team voor de organisatie van het event. Er waren enkele personen met interesse in ons project. Ook één zeer waardevolle introductiemogelijkheid bij een top farma bedrijf in de US. Het beste event waar ik ooit aan heb deelgenomen als entrepreneur
  41. 41. Follow me on Twitter Contact me Member of the KBC group @Schrever_Koen Koen.Schrever@kbcsecurities.be

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