SVX: Unlocking the capital markets for healthcare companies - MaRS Future of Medicine™
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Are you a health-science entrepreneur currently raising capital or planning to raise capital in the coming months? The SVX is a private investment platform built to connect impact ventures, funds and investors. Its aim is to catalyze new debt and equity investment capital for ventures that have demonstrable social or environmental impact and the potential for financial return. The SVX will present its platform and discuss the potential for healthcare companies to use the SVX to reach new sources of debt and equity capital.
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SVX: Unlocking the capital markets for healthcare companies - MaRS Future of Medicine™
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- 4. Problem& There)is)growing)group)of)social)entrepreneurs)and)impact)investors,)but...) Ventures&lack&access&to&capital:&70%"of" impact"ventures"report"that"access"to" capital"is"a"major"challenge"to"their" success." Raising&capital&is&costly:&It"can"cost"tens" to"hundreds"of"thousands"of"dollars"for" impact"ventures"to"raise"capital."" Due&diligence&is&costly&and&9me& consuming:&It"can"be"costly"and"?me" consuming"for"investors"to"conduct"due" diligence." There&is&an&uncoordinated&impact& inves9ng&marketplace:&No"access"point" to"find"investment"opportuni?es"or" connect"with"investors." Pg."3"
- 5. Solu9on& The)first)plaHorm)of)its)kind)in)the)world) SVX&is"registered"as"a"restricted"dealer" with"the"Ontario"Securi?es"Commission." Access:&We"are"a"single"point"of"access"to" a"diverse"range"of"impact"investment" opportuni?es"" Cost&effec9ve:&Our"services"are"available" at"very"low"or"no"cost;"thereby"reducing" transac?on"and"opera?on"costs." An&independent,&values&driven,&nonF profit&organiza9on:&SVX"is"commiKed"to" suppor?ng"and"enabling"the"growth"of" impact"inves?ng"to"benefit"social," environmental"and"economic" development." Pg."4"
- 7. Target Issuers Who are the target ventures and funds? Impact ventures and funds (<$25M revenues) including nonprofits (including charities), cooperatives (nonprofits and for-profits), and for-profit businesses looking for $25k - $10M. Pg."6" "
- 8. Target Issuers Who are the target ventures and funds? Pg."7"
- 9. Target&Investors& Who)are)the)target)investors)for)SVX?) Accredited&investors&as"defined"under" the"Ontario"Securi?es"Commission" (OSC)"regula?ons"(or"the"equivalent"in" other"jurisdic?ons)." Investors"will"include"founda9ons&and& endowments&(private,&public,&or& community),&asset&managers,&wealth& advisors,&and&high&net&worth& individuals"that"meet"the"defini?onal" requirements"of"an"accredited"investor" as"per"securi?es"regula?ons." Pa9ent,&impactFfirst&investors&with"a" focus"on"achieving"posi?ve"social"and/ or"environmental"outcomes"and" modest"to"market"financial"returns" Pg."8"
- 10. Investor&Challenges& What)challenges)do)investors)face?) Lack&of&deal&flow:&Given"limited"resources," impact"investors"cannot"easily"iden?fy"quality" impact"investments"in"order"to"make"an" appropriate"investment." " Lack&of&exper9se:&Impact"investors"do"not" always"have"the"ability"to"prepare"and"conduct" due"diligence." & • There&is&a&tremendous&opportunity&in&the& growing&marketplace:&Currently"the"total" Canadian"impact"investment"market"is"$5.3" billion"and"is"expected"to"grow"to"$30"billion"in" 10"years.""" Pg."9"
- 12. Target&Issuers& What)are)the)requirements)for)ventures)and)funds?) PLATFORM&ACCESS&REQUIREMENT&SUMMARY& Governance&&&Management& • • • • " Ontario"incorporated" Strong"governance"structure" Evidence"of"relevant"exper?se"within" management"and/or"directors" Disclosure"of"any"current"or"past"legal"ac?ons" against"management"and/or"directors" Impact& " Ontario[focused"impact" Five"(5)"Key"Performance"Indicators"(IRIS[ based"if"possible)" • GIIRS,"3rd"party"ra?ng"(or"B"Corp),"for"social" purpose"businesses" • Impact"narra?ve" • • Financials& " Revenue[genera?ng"($50k"["$25M"annually)" Audited"or"reviewed"financial"statements" Pro[forma"projec?ons" Adequate"current"assets,"fixed"assets,"or"cash" reserves" • Ownership"informa?on,"including"past"and" current"sources"of"capital"" • • • • Other& " Complete"business"plan" External,"professional"references" Auditor/reviewer"&"legal"counsel"contact" informa?on" • Debt"&/or"equity"capital"need"($25k[10M"for" ventures,"$2[50M+"for"funds)" • IP"&"R&D"informa?on"(if"necessary"should" venture"not"meet"revenue"requirements)" • • • Pg."11"
- 14. Third&Party&Ra9ngs&Providers& Global)Impact)InvesTng)RaTngs)System) " " GIIRS"offers"a"company"seeking"investment"capital"a"ra?ng"of"its" social"and"environmental"impact"including:"" " 1. an"overall"ra?ng;"" 2. ra?ngs"in"approximately"15"sub[categories;"" 3. key"performance"indicators"(KPI's)"relevant"to"the"company's" industry,"geography,"size,"and"social"mission;"and"benchmark"data" highligh?ng"a"company's"performance"as"compared"to"its"peers." Pg."13"
- 15. Third&Party&Ra9ngs&Providers& B)Corps)(Benefit)CorporaTons)) • B Corp is a third-party certification for companies using the power of business to solve social or environmental problems. • Certified B Corps are committed to the idea of holistic success that takes into account community investment, environmental impact and workplace experience. They are committed to the “big idea” of using business as a force for good and they’re willing to have an outside group measure their effort & publish the results for all the world to see. " Pg."14"
- 16. Becoming&a&B&Corps& 1. Take"the"B"Impact"Assessment" 1"–"3"hours"of"ini?al"self"assessment" Be"prepared"by"having"all"your"financials"and"business"sta?s?cs"available"to"speed"the" process" At"the"end"of"the"assessment"you"will"be"provided"a"B"Impact"ra?ng" 2. Complete"an"Assessment"Review" A"B"Labs"staff"member"will"call"and"go"through"the"ques?onnaire"with"you"and"provide" you"an"assessment"of"what"your"ra?ng"truly"is." 3. Submit"Suppor?ng"Documenta?on" The"Assessment"will"randomly"select"8"–"12"ques?ons"answered"in"the"affirma?ve"and" will"ask"for"further"details"that"demonstrate"those"prac?ces." 4. Complete"Disclosure"Ques?onnaire" Your"company"must"disclose"any"sensi?ve"prac?ces,"fines"and"sanc?ons"related"to"the" company"or"its"partners." Pg."15"
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- 21. Team& Who)is)behind)the)SVX?) Board&of&Directors& Dr.&Ilse&Treurnicht,&CEO,"MaRS" Ted&Anderson,&Director,"MaRS"Centre"for" Impact"Inves?ng" Grace&Lee&Reynolds,&VP"Finance,"MaRS" & Advisors& Kevin&Doyle,"Director,"TMX"Group"Inc." Aaron&Emes,"Partner,"Torys"LLP" Catherine&De&Gius9,&Associate,"Torys"LLP" Allyson&Hewi,"Director,"MaRS" Marc&Marzoo,"Associate,"Gryphon"Investment" Counsel" Don&McCreesh,"Former"Chair,"Imagine"Canada" Robert&Peterman,"Director,"TMX"Group"Inc." Cynthia&Peters,"Owner,"From"the"Farm"Enterprises" Nelson&Switzer,"Director,"PwC" Alberta&Leung,"Partner,"KPMG" STRATEGIC&PARTNERS& Legal&Counsel& Pla]orm&Development& Background&Checks& Third&Party&Impact&Assessment& Pg."20"
- 22. Next&Steps& What)is)next)for)the)SVX)plaHorm?) Outreach&and&Pipeline&Building.&We" are"con?nuing"to"build"our"pipeline"of" ventures,"funds,"investors"and"service" providers." Public&Launch.&We"launched"the"SVX" at"the"TMX"on"September"19th,"and" since"then"12"ventures"have"placed" their"offering"on"the"SVX"with"more"in" the"background" Franchising.&We"are"pursuing" opportuni?es"to"franchise"the" plaporm"in"Canada,"US,"and"around" the"world,"and"exploring"leveraging" the"plaporm"for"other"formats," including"crowdfunding." Pg."21"