Efficient Innovation

Open Prairie Ventures’ History

“HarbourVest doesn’t generally invest in the Midwest, but made an

exception because of the [Open Prairie Ventures] portfolio.” - Jeff Keay,
HarbourVest Partners
Open Prairie Fund I Performance
 Open Prairie Fund I Performance
iNest
TomoTherapy filed for IPO on February 12, 2007. Targeting April/May IPO.
Infoblox

Portfolio Statistics
– Created 1100 jobs
– 100 patents
Projected Valuations
– >$20,000,000 government funding
– Syndicated $188M

$33,500,000 $21,000,000 $5,500,000 $3,000,000

Medical Information Tech Information Tech Semi-conductor

$3,000,000 $3,000,000 $1,000,000 $500,000

Medical Video Analytics Photonics Medical
 Fund II is an early-stage venture fund - focused on information technology, life science and wireless
opportunities - using an Efficient Innovation™ model of investing in the Greater Midwest - a region ripe with
entrepreneurial activity and technology innovation.

Open Prairie Ventures has a competitive advantage to Partnership has a traceable venture capital track record and
proprietary deal flow. experience forming VC funds.

Unique strategy that is consistent with prior funds. Strong and active deal pipeline.

Efficient InnovationTM

Fund II Target:
• U.S. $125M Fund.
• Upgrade to “institutional” LP base.
• Leverage experience of “wins” and “losses”.
 Deal team has significant operational and early-stage venture investing experience.

Jim Schultz (Managing Partner) Jim founded OPV and has been an investor for 15 years.
Serves on four Boards, a bank board and two charity
foundations. Previous services with Illinois Chamber.

Michael Peck (General Partner)

Michael completed 30 seed venture investments in prior

fund. Named to Ingram’s “40 Under Forty” 2006 class.
Dennis Beard (General Partner) Active in Invest Midwest Venture Forum. Previous executive
at two dot-com start-ups in California.

Dennis has been CFO of OPV since 2000. Serves on 3 OPV

portfolio boards. Adjunct Business Professor at University
of Illinois. Previous investor and business owner.

Partnership has worked together to buy out the SBA, add HarbourVest as an LP, harvest the Fund I
portfolio and work to raise Fund II.
 Efficient Innovation

The combination of efficient capital and disruptive innovations creates an assessment

framework for Open Prairie’s early-stage investment criteria.

Efficient Capital Disruptive Innovations

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Source: The Innovator’s Solution: Creating and Sustaining Successful Growth; Christensen and
Raynor, September 2003
 Midwest region is conducive to an opportunistic approach and converging technologies.

Fund II Profile
Focus on:
• Experienced entrepreneurial teams.
• Strict criteria of value pricing and
efficient capital usage.
• Leveraging disruptive innovative
o technologies targeted at large
markets.
 Far reaching access based on the Principals’ regional and national relationships.

National Venture Funds Regional Funds

Lurie Investments
Sequoia Capital Jerusalem Ascension Health
Venture Partners Stephens Group
Baird Venture Partners
Lehman Brothers State of Wisconsin
Ventures Highland Capital Chess Ventures Investment Board
Chrysalis Ventures Wisconsin Alumni
Intel Capital Focus Ventures Research Foundation
CID Equity Partners
Telecommunications
Duchossois Development Fund
Avalon Technology Ventures
Technology Cargill Ventures
Endeavors Group
Venture Investors
Mayo Foundation
Seneca Partners
Associations/Forums
Innovation Centers
National Venture Capital Association
MidAmerica Healthcare Investor Network
TiE – The IndUS Entrepreneurs Argonne National Laboratory, Rose-Hulman Institute,
University of Chicago ,University of Illinois, Kansas State
MIT Enterprise Forum University, University of Missouri, University of Kansas,
Invest Midwest Venture Forum Northwestern University, Purdue University, Washington
University-St. Louis, University of Wisconsin
BIO.org
i2E - Oklahoma City
 Partnership views an opportunistic time to build a second fund in the Greater Midwest region.

“Feet on the Street”

“Go where others are not”
Multi-office Greater Midwest presence that provides
far-reaching access in an underserved-venture region Capital imbalance persists in the Midwest region.
with deep entrepreneurial opportunities.

Source: PricewaterhouseCoopers MoneyTree Survey ; Thomson Venture Economic; National Venture

Capital Association
Partial Fund II Pipeline
Report

Company Location Sector Stage Funding Amount

Rosetta Wireless IL Wireless Early $3,000,000
VasSol IL Medical Early $10,000,000
Silicon Informatics MN IT Early $6,000,000
RevStor IL IT Early $1,500,000
Open Methods KS Medical Early $2,000,000
NavStar KS Wireless Early $3,000,000
Dyotronics, Inc IL Semiconductor Early $3,000,000
OpGen WI Medical Growth $15,000,000
Cavitech OK Medical Early $3,000,000
Lucigen WI Medical Early/Growth $2,000,000
NMSI Medical Device MN Medical Early $10,000,000
Positive Networks KS IT Early/Growth $4,000,000
InnoviaMedical KS Medical Early $3,000,000
Rush Tracking KS IT Early $1,500,000
Clarkson IL Medical Early $2,000,000
TextCaster KS IT Early $1,500,000
PodCaster IL Wireless Early $3,000,000
SmartVue TN Wireless Early $3,000,000
Crititech KS Medical Early/Growth $3,000,000
Cell Journalist TN Wireless Early $1,500,000
Accuri Cytometers MI Medical Early $4,000,000
FireFly Mobile IL Wireless Early $3,000,000
PreDENT OK Medical Early $3,000,000
eContinum MN Medical Growth $5,000,000
Affinex KS Medical Early $2,000,000
 Summary
Portfolio validation
Firm is fully operational
Strategy remains validEfficient Innovation
Technology innovation in the region

Next Steps
Drive toward first closing

Expand deal team

Expand GP and LP Advisory Board
J.M. “Jim” Schultz - Managing Partner
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Michael PeckGeneral Partner

Ingram’s
Dennis BeardGeneral Partner and Chief Financial Officer
Jason Wrone – Associate
 Deal Sourcing and Screening Fund Formation
 Ramez Naam
 Fund Legal Counsel: Ropes & Gray (New
York)
•
Fast Company.

 Dave Samuel


 Portfolio Update

TomoTherapy

Filed for IPO to Raise $201.25M

Open Prairie I Partnership projects return
of $33.5M.
 Portfolio Update

Infoblox
 For further information, please contact:

J.M “Jim” Schultz Michael Peck

Founder & Managing Partner Founder & General Partner

www.OpenPrairie.com

02262007