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Venture Capital
incubic.com

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Investments

30

Portfolio Exits

11

About Incubic Venture Capital

Incubic is a venture fund investing in high-tech startups. Their focus is seed investments, although they do invest in late-stage companies.

Incubic Venture Capital Headquarters Location

545 Middlefield Road

Menlo Park, California, 94025-3400,

United States

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Latest Incubic Venture Capital News

ValueClick Buys Greystripe for $70M

Apr 25, 2011

ValueClick Buys Greystripe for $70M April 25, 2011 Publicly traded ValueClick will pay $70 million for mobile advertising network Greystripe Inc. San Francisco-based Greystripe has raised venture capital from firms including Steamboat Ventures, Monitor Ventures, Peacock Equity and Incubic Venture Capital. Montgomery & Co. acted as financial advisor to Greystripe. Under the terms of the deal, Greystripe’s management will join ValueClick, and the business will be run as a wholly-owned subsidiary within ValueClick Media. PRESS RELEASE: ValueClick, Inc. (Nasdaq:VCLK) today announced the acquisition of Greystripe, Inc., a leading brand-focused mobile advertising network. The acquisition will provide ValueClick immediate scale in the U.S. mobile advertising market, a $1.1 billion market that is expected to nearly double by 2013(1) . Greystripe’s proprietary advertising platform serves billions of rich media impressions to over 30 million users of touch-driven devices through more than 3,500 application titles and mobile websites across all major mobile platforms. Greystripe has built strong relationships with Fortune 500 advertisers across key brand advertising verticals, including retail, consumer products (CPG), entertainment, technology, and automotive. Greystripe is headquartered in San Francisco and has offices in New York, Chicago, Los Angeles, Detroit, and Seattle. “Greystripe accelerates ValueClick’s move ‘up the marketing funnel’ with brand advertisers and gives ValueClick Media immediate scale and expertise in the large and fast-growing mobile ad market,” said Jim Zarley, chief executive officer of ValueClick. “We see great traffic and revenue synergies between ValueClick and Greystripe, and we’re looking forward to working closely with the Greystripe team to take full advantage of the opportunities that this combination offers.” “All of us at Greystripe are proud of our accomplishments, and joining ValueClick positions us to accelerate our rapid growth in mobile brand advertising,” said Michael Chang, chief executive officer of Greystripe. “We are thrilled to continue to serve our major brand clients as a mobile rich media leader while leveraging ValueClick’s breadth and depth in online marketing.” Under the terms of the transaction, ValueClick has acquired Greystripe for approximately $70 million in cash. Greystripe’s management team and employee base have been retained by ValueClick, and the business will be run as a wholly-owned subsidiary within ValueClick Media. For the remainder of 2011, Greystripe is expected to contribute to ValueClick’s consolidated results approximately $24-$26 million in revenue and $2-$3 million in adjusted-EBITDA(2) . ValueClick anticipates that Greystripe will be accretive on an adjusted-EBITDA multiple-basis in 2012. Montgomery & Co. acted as financial advisor to Greystripe. Steamboat Ventures, Monitor Ventures, Peacock Equity, and Incubic Venture Capital were investors in Greystripe. ValueClick Announces Preliminary First Quarter Financial Results ValueClick today also announced preliminary results for the first quarter ended March 31, 2011; the Company generated first quarter revenue of $116.5 million and adjusted-EBITDA of $35.1 million, which exceeded the high-end of the guidance ranges management provided on February 15, 2011. Year-over-year revenue growth in the Company’s Affiliate Marketing, Media, and Owned & Operated Websites segments was above the previously-issued guidance ranges, while year-over-year revenue growth in the Company’s Technology segment was in-line with the previously issued guidance range. The results of operations of Greystripe are not included in the Company’s first quarter results, but will be included in the Company’s second quarter results beginning on the date of acquisition. The Company has not yet fully completed certain quarter-end accounting procedures, including but not limited to the completion of its income tax provision. As such, figures released today are preliminary. ValueClick will host a conference call and announce final first quarter financial results and second quarter guidance on Tuesday, May 3, as previously announced. The Company will also provide more detail on the Greystripe acquisition during the call. ValueClick Announces Stock Repurchases ValueClick today also announced that it repurchased approximately 2.2 million shares of its common stock in the first quarter of 2011 and an additional 0.4 million shares in April 2011, for an aggregate cost of $37.7 million. As of today, ValueClick has $62.3 million remaining authorization under its stock repurchase program. About ValueClick ValueClick, Inc. (Nasdaq: VCLK) is one of the world’s largest integrated online marketing services companies, offering comprehensive and scalable solutions to deliver cost-effective customer acquisition for advertisers and transparent revenue streams for publishers. ValueClick’s performance-based solutions allow its customers to reach their potential through multiple online marketing channels, including affiliate marketing, display advertising, ad serving and related technologies, and comparison shopping. ValueClick’s brands include Commission Junction, ValueClick Media, Mediaplex, Smarter.com, CouponMountain.com, Investopedia.com, and PriceRunner. For more information, please visit www.valueclick.com. About Greystripe Greystripe is the largest brand-focused mobile advertising network in the US by reach. Greystripe delivers the highest engagement and most sophisticated targeting for brand marketers, the maximum revenue for publishers and app developers, and the best ad experience for users. Greystripe’s proprietary advertising platform serves billions of rich media impressions to over 30 million users of touch-driven devices through more than 3,500 application titles and mobile websites across all major mobile platforms. This release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, the risk that market demand for on-line advertising in general, and performance based on-line advertising in particular, will not grow as rapidly as predicted, and the risk that legislation and governmental regulation could negatively impact the Company’s performance. Actual results may differ materially from the results predicted, and reported results should not be considered an indication of future performance. Important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under “Risk Factors” and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including, but not limited to: its annual report on Form 10-K filed on February 28, 2011; recent quarterly reports on Form 10-Q; and other current reports on Form 8-K. ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. © 2015 Buyouts Insider / Argosy Group LLC

Incubic Venture Capital Investments

30 Investments

Incubic Venture Capital has made 30 investments. Their latest investment was in PhotonPharma as part of their Seed VC on March 3, 2022.

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Incubic Venture Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/16/2022

Seed VC

PhotonPharma

$1.83M

Yes

2

2/2/2021

Series B - V

LightDeck Diagnostics

$9.99M

No

4

7/31/2020

Series B - IV

LightDeck Diagnostics

$11M

No

3

12/6/2018

Unattributed VC

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$99M

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10

8/24/2016

Series B - II

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$99M

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10

Date

3/16/2022

2/2/2021

7/31/2020

12/6/2018

8/24/2016

Round

Seed VC

Series B - V

Series B - IV

Unattributed VC

Series B - II

Company

PhotonPharma

LightDeck Diagnostics

LightDeck Diagnostics

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Amount

$1.83M

$9.99M

$11M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

2

4

3

10

10

Incubic Venture Capital Portfolio Exits

11 Portfolio Exits

Incubic Venture Capital has 11 portfolio exits. Their latest portfolio exit was Thin Gap on May 09, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/9/2022

Merger

$99M

1

1/1/2017

Acquired

$99M

1

4/12/2012

Acquired

$99M

1

8/2/2011

Acquired

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$99M

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10

4/22/2011

Acquired

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$99M

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10

Date

5/9/2022

1/1/2017

4/12/2012

8/2/2011

4/22/2011

Exit

Merger

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

1

1

10

10

Incubic Venture Capital Team

3 Team Members

Incubic Venture Capital has 3 team members, including current Managing Director, Tom Baer.

Name

Work History

Title

Status

Tom Baer

Managing Director

Current

Milton Chang

New Focus, and Newport Corporation

Managing Director

Current

Bill L Nighan

Managing Director

Former

Name

Tom Baer

Milton Chang

Bill L Nighan

Work History

New Focus, and Newport Corporation

Title

Managing Director

Managing Director

Managing Director

Status

Current

Current

Former

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