The Young Americas Business Trust hosted a briefing at the OAS of an important new initiative of the Gateway Pacific Foundation in March …

“VENTURE CAPITAL UNIVERSITY”

December 16-20, 2002 in Panama City

Today’s Situation

Entrepreneurs of all stripes face the same challenges throughout Latin/Central America and the Caribbean: credits are, in principle, available but the required equity capital is not. A growing body of evidence points to the fact that private equity and venture capital investments, when combined with active hands-on technical and managerial support, make possible a wide range of economic development opportunities. These resources are well established in developed countries – and some of the economic prosperity seen in these developed countries can be traced back to the availability of such equity

There are only a few full-fledged venture capital funds currently active in throughout Latin/Central America and the Caribbean. Often they cover only larger investments in sectors like mining, infrastructure, tourism and telecommunications. Potential returns on investments in small and medium scale enterprises that require professional management and considerable support are not sufficient to justify establishing stand-alone fund; therefore, virtually no such equity activity exists. Fortunately, there seems to be serious momentum toward changing this situation. But even where the capital may become available, there are too few indigenous executives (from either industry or government) who possess the know-how necessary to make their organizations leaders in developing a VC sector within their nation’s economy. VCU is being organized to address this knowledge gap.

Program

With a generous financial contribution from the founder of one of Silicon Valley's best known, oldest and most successful venture capital (VC) firms, our non- profit organization is organizing the first "Venture Capital University". Its' purpose is to assist government and business leaders in various regions of the world to kick start their country’s own VC industry. We are starting first with a focus on Latin/Central America and Caribbean.

The first VCU will take place in Panama over 6 days during December 2002 -- and we would very much like to have your organization as a key partner. The program is designed, in part, as a follow up to the UN Conference on Finance for Development (which is being held soon in Monterrey, Mexico).

VCU’s short term goal is to use a stellar faculty, drawn from Silicon Valley, to provide critically needed skills and insights to a group of 'emerging leaders'. These participants will be drawn from Caribbean and Central American business and government organizations, each of which have an active interest in further developing a locally based and locally focused VC industry. (Since it will not necessarily be solely focused on high tech, the VCU will also include careful reviews of VC opportunities in such sectors as food, transport, eco-tourism.)

Participants

From Central American, South American and Caribbean organizations, including:

-corporations based in the region (e.g., a private Dominican bank or conglomerate)

-government agencies (eg, Panama Min, of Finance, etc.)

-intergovernmental organizations (e.g., OAS, IADB, IBRD, IFC, etc)

-non-governmental organizations (e.g., National Venture Capital Assn, etc.)

Language of VCU English

Sponsors

-Franklin and Catherine Johnson Foundation, California*

-Integrated Strategies, San Rafael-California (advisors to multinational firms such as Chevron, IBM, Lockheed, etc.)

Organizers

-Gateway Pacific Foundation, a ten year old non-profit institution based in Northern California

Contact:

Gordon Feller, Director

870 Estancia, 11^th Floor

San Rafael, California-USA

Phone 1+4154914233

Email: GordonF20@ATTbi.com

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*About the Johnson Family Foundation, California:

As founder and principal, Mr. Johnson leads Asset Management. Known throughout the VC industry for his vision, insight and principles, he has been at the center of a number of Silicon Valley's biggest and longest-running success stories. He stands out as one of the inventors of the venture capital business.

Asset Management is a leading Silicon Valley venture capital firm, one of the first founded on the West Coast of the United States. Since 1965, the company has been on the cutting edge, identifying the best ideas and the best people in the information technology and life sciences sectors. Specializing in seed and early stage funding, Asset Management has built a history of being ahead for nearly four decades.

A Palo Alto High School graduate, Pitch got into venture capital after graduating from Stanford University and Harvard Business School, doing a hitch in the Air Force and working the furnaces at a steel mill. In 1962, he and Bill Draper decided to put together an early investment fund. Three years later, Pitch founded Asset Management Company. Over the ensuing decades, Pitch launched and managed a number of funds. Many Silicon Valley firms owe their success to the leadership that came from Asset Management.

Many of those early relationships remain strong today. Pitch still sits on the board of directors of Amgen, IDEC Pharmaceuticals and Applied Micro Circuits and, until its merger into BMC Software, served for 30 years as chairman of the board of Boole and Babbage. In addition, Pitch devotes time to developing venture capital operations in other countries, particularly in Eastern Europe. He also created and for 12 years taught the course in venture capital at Stanford Business School.

Pitch and his family are intensely involved in philanthropic and community activities, primarily in the Bay Area. He also has been active in alumni affairs at both Stanford and Harvard Business School, and served for over a decade as a trustee of the Foothill-DeAnza Community College District. Pitch is a long-time trustee of the San Francisco Opera and is its current board chairman.