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CVCA Annual Conference - May 26-28, 2010 - The Westin Ottawa



THANK YOU TO EVERYONE WHO SPONSORED, SPOKE OR JUST CAME TO LISTEN!!

Our 2010 Conference in Ottawa was a record-breaking success! Photos and presentations will be posted within the next two weeks (we will send a note to all attendees) .

LINK TO PHOTO GALLERY


AGENDA  (link to pdf of final agenda)

All speaker presentations are now posted. Please note that there are presentations for the President's Address and Sessions 2, 3, 7A and 8A. Click on speakers name for link to pdf of presentation.

Link to file of all speaker bios

WEDNESDAY MAY 26, 2010  All Conference events take place at the Westin Ottawa
7:00 a.m. – 3:00 p.m.

Golf Event and Reception (Tee off time is 8:00 am)

  The Marshes Golf Club at the Brookstreet Resort, Ottawa, Ontario
   
3:00 p.m. – 7:00 p.m.

Conference Registration

   
5:00 p.m. – 7:00 p.m.
Welcome Cocktail Reception    

 Sponsored by
RBC Royal Bank

           
                                                       
   
THURSDAY MAY 27, 2010

 

7:00 a.m. – 8:10 a.m.

Breakfast Buffet

   
8:10 a.m. – 8:30 a.m.

Welcoming Remarks by 2010 Conference Chair:

  David Adderley, Partner, Celtic House Venture Partners
   
 

President's Address:

  Gregory Smith, President, CVCA and Managing Partner, Brookfield Financial
   
8:30 a.m. – 9:30 a.m.

Session 1 – Back to the Future: Change and Innovation in the PE & VC Industry

  This panel will explore the evolving reality of the private equity business from the supply-side of the buyout and venture capital industry. Leading North American pension funds and Fund-of-Funds will share their perspectives on how institutional investors are adapting to the changing economic, financial and regulatory landscape. Topics addressed will include how their respective organizations are evolving their thinking on asset allocations, the direct versus fund-of-funds investment approach, and new innovative models and strategies for creating value.
   
 

Moderator: Rick Nathan, Managing Director, Kensington Capital Partners Limited

Panelists:
Paul Renaud, CEO, OMERS Private Equity
Mark Wiseman, Executive Vice-President, Investments, CPP Investment Board
Brooks Zug, Senior Managing Director, HarbourVest Partners


9:30 a.m. - 9:35 a.m. 
 The Honourable John Milloy, Minister of Research and Innovation, Minister of Training, Colleges and Universities, Province of Ontario
9:35 a.m. – 10:30 a.m. Session 2 – The Role of the Government in the Private Equity Industry
  In the wake of the recent financial crisis, governments have started to play an increasingly important role in the buyout and VC industry, from more regulation of buyout firms through to directly and indirectly providing venture capital to entrepreneurial companies to help support innovation, employment and growth. What positive evidence is there to support a long-term and sustainable government involvement in the PE industry? How do we compare the potential returns from the government’s direct participation or indirect participation in the industry via Fund-of-Funds versus more traditional government funding of R&D and its commercialization? This session will discuss the role of government in the PE Industry in North America, some early results and the main trends.
 

Moderator: Jan Peeters, President & CEO, Olameter Inc.

Panelists:
Janie C. Beique, Senior Vice-President, New Economy, Fonds de solidarite FTQ
Dale Botting, President and CEO, Botting Leadership and Development Corporation and Global Investment Attraction Specialist under contract with Enterprise Saskatchewan
Rod Charko, CEO, Alberta Enterprise Corporation
Gilles Duruflé, Independent Consultant
George Ross, Deputy Minister, Ministry of Research and Innovation and Ministry of Consumer Services

   
10:30 a.m. – 11:00 a.m.

Coffee / Networking Break

   
11:00 a.m. – noon

Session 3 – Open Mobile: Innovation and Socioeconomic Impact

  Increased adoption of mobile devices and a movement towards Open Mobile platforms is transforming the global economy. This panel will discuss the impact of exponential growth in user adoption of mobile devices on a global basis. Mobile devices are used more widely than ever and for purposes well beyond telephony. Open “smart phones” are interoperable across devices, applications, money, content, geographies, service providers, and networks and allow businesses to compete through innovation and differentiation. A broad range of sectors of the economy will be impacted and this panel will discuss the impacts on publishing, banking, digital content, gaming, point of sale, mobile money and other sectors.
 

Moderator: Chris Albinson, Managing Director, Panorama Capital

Panelists:
Pierre Donaldson, Partner, BlackBerry Partners Fund & JLA Ventures
Harry Hopper, Partner, Columbia Capital
Vince Kadar, President, Telepin Software
Alek Krstajic, CEO, Public Mobile

 

   
noon – 12:30 p.m.

Luncheon Keynote Speaker

 
Glenn Hutchins, Co-Founder and Co-Chief Executive, Silver Lake

'The Daily Grind'

Mr. Hutchins is a co-founder of Silver Lake and Co-Chief Executive. He has spent his business career investing in the most rapidly growing and dynamic companies in the U.S. and around the world. Mr. Hutchins is Chairman of the Board of SunGard Corp., and a director of the NASDAQ OMX Group, Inc. Previously, he was Chairman of Instinet, Inc., and a director of TD Ameritrade Holding Corp., Seagate Technology, MCI, Inc., Gartner, Inc. and Sabre, Inc.
Glenn Hutchins 
 

 

 12:30 p.m. – 1:50 p.m.
 Lunch - Sponsored By
 www.canaccord.com

   
1:50 p.m. – 2:50 pm Concurrent Session 4A – Buyout - LP Perspectives on the Buyout Industry
In the wake of the financial crisis, limited partners have seen distributions from buyout funds slow to a trickle. With financial conditions improving, valuations stabilizing, and new investment and realization activity beginning to rise, buyout fundraising is expected to improve in 2010. Leading pension funds and Funds-of-Funds will provide their outlook on the buy-out industry and what to expect over the coming years. Topics addressed will include how these institutional investors are evolving their thinking on asset allocations to buyout funds, which strategies and geographies are most attractive, and whether fund terms are changing.

Moderator: Mark Jamrozinski, Partner and Co-Chair Canadian Private Equity Practice, Deloitte

Panelists:
Derek Murphy, First Vice President, Head of Private Equity, PSP Investments
Joe Topley, Managing Director, Parish Capital Advisors Europe, LLP
Susanne Forsingdal, Partner, ATP Private Equity Partners
Stephane Dupont, Director, UBS Global Asset Management
   
1:50 p.m. – 2:50 pm Concurrent Session 4B  – VC- The LP and GP Relationship: Time for a New Model?
  The financial crisis and the volatility across all asset classes have created challenges for the traditional LP-GP model in the buyout and VC industry. This session will address how the LP-GP relationship is changing, including new and evolving models. What can we learn from recent history and how should the relationship evolve when the next funding cycle boots back up? Beyond the current industry reassessment of standard terms & conditions, which basic principles should be at the foundation of that relationship? How do we prevent the best managers from racing off to misaligned investment models? This panel will directly address these issues in a very practical manner.
 

Moderator: Paul Kedrosky, Senior Fellow, Kauffman Foundation

Panelists:
Jacques Bernier, Managing Partner, Teralys Capital
Sebastien Burdel, Principal, Coller Capital
Gordon Hargraves, Partner, Rho Fund Advisors
V. Paul Lee, Managing General Partner, Vanedge

   
2:50 p.m. – 4:00 p.m.

Concurrent Session 5A – Buyout – The Evolving Private Equity Landscape

  There are many changes occurring in market factors that impact the private equity deal environment. Examples include uncertain economic forecasts, public market volatility, changing leverage availability and terms, and currency fluctuations. These unique challenges have had their impact on how private equity firms have dealt with their existing portfolios and how seek for and structure new transactions. Senior private equity professionals from leading buyout  firms will give their views on the degree to which these challenges have impacted their business, and how they anticipate their future investment activities will differ from the past
 
   
 

Moderator: Andrew Willis, Business Columnist, The Globe and Mail

Panelists:
Benjamin Ball, Managing Director, Francisco Partners
Michael Phillips, Managing Director, Apax Partners
Andrew Sheiner, Managing Director, ONEX
Mike Berk, Managing Director, TA Associates

   
2:50 p.m. – 4:00 p.m.

Concurrent Session 5B – VC – Bringing Innovation to Innovation

 

For venture capitalists and their portfolio companies, success goes to the most innovative: those with the best ideas and the talent to execute on them. In a rapidly evolving world, technological change and disruptive economic and social forces require companies to bring innovation to innovation, generating ideas and accessing talent in fundamentally new ways. By developing new models of innovation, such as crowdsourcing and social innovation, the most innovative companies now tap the “wisdom of crowds” to collaborate with communities of customers, suppliers, and other stakeholders. Innovators also find ways to access a global pool of talent and unleash entrepreneurial energy. This diverse panel will feature leaders pioneering a new world of innovation, collaboration, and virtual work. Learn how to capitalize on these trends and create competitive advantage in your companies and target markets.

   
 

Moderator: Robert Antonaides, Managing Director, RBC Venture Partners

Panelists:
Mark Bonchek, CEO, Truman Company
Tammy Johns, Senior Vice President, Global Workforce Strategy, Manpower
Deepak Ramachandran, Entrepreneur and Advisor
Sean Wise, Asst. Professor of Entrepreneurship and Innovation, Ted Rogers School of Management, Ryerson University

   
4:00 p.m. – 4:20 p.m. Coffee / Networking Break
   
   
 4:20 p.m. – 5:30 p.m.

Concurrent Session 6A – Buyout – Building Sustainable Operating Improvements Into Portfolio Companies

 

Recent volatility in both lending conditions and capital markets has highlighted the pitfalls in relying on extreme leverage or multiple expansions to drive private equity returns. As a result, there is a renewed focus on driving the operating and financial performance of portfolio companies to generate top quartile returns.This panel will explore some of the techniques that private equity firms, their advisors, and management teams are using to create sustainable revenue growth and margin enhancement within investee businesses.

   
 

Moderator: Brian Lenihan, Partner, Choate Hall & Stewart LLP

Panelists:
Jeff Smith, Operations Executive, TPG Capital
Stephen Corbett, Principal, McKinsey & Company, Inc.
Steve Hudson, Chairman & CEO, Cameron Capital Corporation
Michael Lank, Managing Director, OMERS Private Equity

   
4:20 p.m. – 5:30 p.m.

Concurrent Session 6B - VC – C100: Leveraging the Canadian Experience in Silicon Valley

  C100 is a non-profit, member-driven organization dedicated to supporting Canadian technology entrepreneurship and investment. C100 is comprised of a select group of Canadians based primarily in Silicon Valley, including executives of leading technology companies, experienced startup entrepreneurs and venture capital investors.  C100 members are passionate about leveraging their collective experience, expertise and relationships to help mentor and grow a new generation of successful Canadian-led technology companies. Canada has over 250,000 Canadians in the Bay Area, including leaders in every major technology company. C100 is focused on turning “brain drain” into one of Canada’s most valuable national assets. The panel will discuss the launch of C100 in Canada, their perspectives as Canadian entrepreneurs in Silicon Valley, and public policy ideas to make innovation in North America happen with less friction.
 

 

   
 

Moderator: Katherine Barr, Partner, MDV- Mohr Davidow Ventures

Panelists: 
Shaherose Charania, Chief Executive Officer & Co-Founder, Woman 2.0
Matthew Clark, Senior Director, Strategic and Emerging Business Team, Microsoft 
Robert Simon, Partner, Ariva
Angela Strange, Director of Product Management and Business Development, Ruba.com 

   
6:30 p.m. – 7:30 p.m.
Gala Cocktail Reception    

 Sponsored by
HKMB Chubb   CHUBB INSURANCE

     
                                              
   
7:30 p.m. – 9:30 p.m.
 Gala Dinner

Sponsored by 
Coller Capital

               
   
 

CVCA's 'Entrepreneur of the Year' Award Presentation & Entertainment, featuring Rick Mercer
'My Adventures in Canadian Television: an Evening with Rick Mercer'
Rick Mercer chronicles, satirizes, and ultimately celebrates all that is great and irreverent about this country. Known as "Canada's Unofficial Opposition," Mercer is our most popular comic, a political satirist who knows exactly what matters to regular Canadians and what makes them laugh.
In his hilarious, standing room-only keynotes (he is perhaps Canada's most requested speaker), Mercer draws on the best moments from his show, taking you behind the scenes of classic Canadian moments, including his Talking To Americans specials, and much more. On full display is his understanding of what delights, and occasionally enrages us about our politicians, our media, our neighbours to the south, our unique pop culture, and our place in the world.
 Rick Mercer
  

 

 

   
9:30 p.m. – midnight
Scotch-Tasting ‘Whiskies of the World"      

Sponsored by
 Choate, Hall & Stewart LLP

                                                                  
   

FRIDAY MAY 28, 2010

 
   
7:00 a.m. – 8:00 a.m.

Breakfast Buffet

   
8:00 a.m. – 8:10 a.m.

Opening Remarks

   
8:10 a.m. – 9:20 a.m.

Concurrent Session 7A - Liquidity: What Does the Future Hold?

  We have seen some recent tentative steps towards growing public market activity levels for buyout and venture capital backed companies. What will hold for the remainder of 2010 and into the future? Will we continue to see growth in the number of public market exits? What does the market look like for potential larger cap PE-backed exits in Canada and the United States and internationally? What options are available to smaller cap VC-backed companies? What are public market investors looking for? This panel will address what opportunities may be available and what we can expect.

 

 
   
 

Moderator: Ian Palm, Partner, McCarthy Tetrault LLP

Panelists:
Ungad Chadda, Senior Vice President, Toronto Stock Exchange
Mathew F. Hein, Managing Director, Global Technology Investment Banking, Co-Head Semiconductor Banking, Morgan Stanley
Sanjiv Samant, Managing Director, Head of Technology Investment Banking, Canada, Canaccord Genuity
John Sherrington, Vice-Chairman, Global Head Private Equity, Scotia Capital

   
8:10 a.m. – 9:20 a.m.

Concurrent Session 7B – Innovative Approaches to Emerging Markets; China & India

  This panel will discuss the opportunities open to buyout and venture capital firms and their portfolio companies in both China and India, and why these regions are ignored at an enterprise’s peril. This diverse panel of experts with direct experience operating in China and India will discuss innovative approaches being used by firms to take advantage of opportunities in these regions, from fundraising to partnerships to sales and outsourcing. The panel will highlight proven successful approaches, as well as common mistakes.
 

 

   
 

Moderator: Jennifer Brooy, Vice President and Head of Equity, Export Development Canada

Panelists:
Clarence J. Chandran, Chairman, Walsingham Fund, and former COO of Nortel Networks
Steven Wisch, Co-Founder and Managing Partner, India Equity Partners, and Board Member of the U.S.– India Business Council

   
9:20 a.m. – 10:30 a.m.

Concurrent Session 8A – Buyout – Current Update on Debt Markets

 

Availability and terms of financing have fluctuated rapidly in the past two years. Our panel of decision makers representing every major source of debt capital will explore current trends and outlook.  Areas of focus will be new capital commitments, refinancings and portfolio management strategies.

   
 

Moderator: Andrew Luetchford, Vice President and Director, Deloitte Corp Finance

Panelists:
John Bradlow, Managing Partner, Penfund
Keith Cressman, Managing Director, Head of Private Debt, Sun Life Financial
Laura Dottori-Attanasio, Global Head, Corporate Credit Products, CIBC
Bruce Dunlop, Vice President, Portfolio Management, Export Development Canada
Richard Kinlough, Managing Director and Group Head, CIT Corporate Finance, Canada
Pascal Proulx, Director, Asset Based Lending, RBC Capital Markets

   
9:20 a.m. – 10:30 a.m.

Concurrent Session 8B – VC – Founders and Entrepreneurs Panel – Breeding Success

 

Cultivating, promoting and driving innovation in any business can be a challenge. Venture capital investors have backed many entrepreneurs who have successfully led innovative businesses. Each of our panelists has been recognized for building and growing one or more very successful businesses in Canada. Drawing upon their hands-on experience, our panel will provide insight and some lessons learned for the next generation of entrepreneurial businesses and their investors.

   
 

Moderator: Elizabeth Walker, Partner, Osler, Hoskin & Harcourt LLP

Panelists:
Peter Allen, President & CEO, DragonWave Inc.
Dave Caputo, Co-Founder, President & CEO, Sandvine
Osama Arafat, CEO, Q9 Networks

   
10:30 a.m. – 11:00 a.m.

Coffee / Networking Break


11:00 a.m. -
11:05 a.m.

Special Presentation
Gregory Smith, President, CVCA and Managing Partners, Brookfield Financial
'Section 116 Victory'
11:05 a.m. – 12:15 p.m.

Session 9 – LP Panel – Fundraising in Today's Market

 

A panel of institutional LPs will discuss today’s fundraising environment, what qualities LPs are looking for in GPs, what types of strategies the LPs are focused on, and common mistakes made by GPs in raising money. 

   
 

Moderator: Stuart Waugh, Managing Partner, Northleaf Capital Partners

Panelists:
John Breen, Vice President, Private Investments and Global Head of Private Equity Funds & Secondaries, CPP Investment Board
Clinton P. Harris, Founder and Managing Partner, Grove Street Advisors LLC
B. Timothy O'Gara, Principal, Shannon Advisors
Mario Therrien, Senior Vice-President, Fund Management, Private Equity, Caisse de dépôt et placement du Québec

   

12:15 p.m. – 12:30 p.m.

Closing Remarks

   
12:30 p.m. – 2:00 p.m. Networking Lunch
   



2010 Organizing Committee

David Adderley (Celtic House Venture Partners) 
Chris Albinson (Panorama Capital)
Chris Arsenault (iNovia Capital)
Ross Bricker (AVAC Ltd.)
Glenn Egan (Business Development Bank of Canada)
Ralph Goldsilver (Meyers Norris Penny LLP)
Lauren Harris (Northleaf Capital Partners)
Doug Hewson (Portland Private Equity L.P.)
Kelly Holman (Genesys Capital Partners)
Steve Hnatiuk (Yaletown Venture Partners)
Jane Knop (CPP Investment Board)
Eric Legault (Teralys Capital Fund)
Lauren Linton (CVCA)
Michael Machabee (EDC)
Michael Mazan (Birch Hill Private Equity)
Andre Mousseau (EdgeStone Capital Partners)
Sandra Novotni (Business Development Bank of Canada)
Jim Orlando (OMERS Private Equity)
Ian Palm (McCarthy Tétrault LLP)
Richard Rémillard (CVCA)
Russ Rodrigues (CPP Investment Board)
Kathryn Ryan (CVCA)
Michelle Scarborough (OCRI)
Sunil Sharma (CVCA)

2010 SPONSORS:

 
www.canaccord.com   
Choate, Hall & Stewart LLP   Coller Capital
Deloitte    HKMB HUB International    Chubb Insurance  

RBC Royal Bank of Canada

 Enterprise Saskatchewan                Osler, Hoskin & Harcourt LLP

 

Capital IQ

 

AVAC

 

 

Export Development Canada 

 

 McCarthy Tétrault LLP

 

McMillan LLP 
Northleaf Capital Partners
 

 

Ontario Venture Capital Fund 

 

 

 

 OCRI

TSX

 

Aird & Berlis LLP

 ARC Financial

BDC - Venture Capital

 

 

Bennett Jones LLP

Blaney McMurtry LLP 

Celtic House Venture Partners

 

Canada Pension Plan Investment Board

 

Chaitons LLP

CIBC

 comerica

Emerald
                        Technology Ventures

 
 FLexJeT

 Fonds de solidarite FTQ

Fraser Milner
                        Casgrain LLP

 Gowlings

GrowthWorks Atlantic Ltd

Intralinks

 

KPMG

Meyers Norris Penny

OMERS Private Equity

Porter Airlines


 Scotia Capital  Stikeman Elliott Thomson Reuters
Torkin Manes LLP Venture Link Funds VG Partners – part of VenGrowth
                        Private Equity Partners Inc.
 

Wellington Financial




 
 
     
     
     
     
BREAKFAST SPONSOR 

                                                
Avrio Ventures  



BLACKBERRY CHARGING
STATION SPONSOR

                                      
JLA Ventures
Mergers & Acquisition Journal Media Edge Publishing
 ACG Toronto Backbone magazine
 
 Ontario Centres of Excellence Canadian Innovation Exchange 
 Banff Venture Forum Buyouts 

 Eqentia