Time Warner Investments

Formerly AOL Time Warner Ventures

Foreign Corporate VC

Ceased to Operate Q1/2020

Tech Verticals Preferences

Broadcasting, Digital Media, e-Commerce, Enterprise Applications, Entertainment, Mobile Applications, Online Advertising, Online Entertainment, Search Engine, Telecom Applications

General Data

Established	1998
Current Active Portfolio Companies:	1

DESCRIPTION

The Time Warner Investments group focuses on investment opportunities that directly enhance Time Warner's ability to meet specific strategic goals. These strategic goals include the delivery of new services, enhancement of an existing product, entry or expansion into a key strategic market, completion of a strategic partnership, and critical research and development.

Time Warner Investments works closely with management, other investors, and with the Time Warner operating companies to derive value and maximize the opportunities for mutually beneficial partnerships.

AFFILIATION

Account ID	Affiliation Type	Name	Parent Name	Status
		Time Warner Inc.
AEA5DB50-207A-E111-AC59-00155D32A403	Investment Arm	Time Warner Investments	Time Warner Inc.	Ceased

REMARKS

Date	Remark
01/12/2009	Following the AOL and Time Warner split the AOL Time Warner Ventures Corporate Venture Fund has turned into Time Warner Investments.

Preferences

Maximum investments	$25m
Type of Financing	Equity
Stage Preferences	R&D,Seed

SECTOR SEGMENTATION (By Number Of Companies)

Consumer-Oriented Software

50%

Enterprise Software & Infrastructure

50%

	PORTFOLIO COMPANIES

Current Portfolio Companies (1)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

Exent

Ent. SW

Series B

01/06/2000

N/A

$20.5m

Current VC Fund Portfolio (5)

Fund Name

Fund Type

Date Announced

Amount

Remarks

CommLaunch

Venture Capital Fund

01/01/1999

N/A

Concord II

Venture Capital Fund

01/01/2000

N/A

Israel Seed IV

Venture Capital Fund

01/01/2000

N/A

Pitango III

Venture Capital Fund

01/01/2000

N/A

Viola Ventures I

Venture Capital Fund

01/01/2000

N/A

Exits (13)

Company Name	Exit Type	Date Announced	Amount	Remarks
abC Defghij	Acquired	18/08/2008	abCDe	In shares.
abC Defghij	Acquired	11/10/2011	abCDe	In cash; Equates to a diluted equity value of $172m, or $53m net of estimated BigBand cash on hand.
abC Defghij	IPO	15/03/2007	abCDe	Including Green Shoe option ($21m)
abC Defghij	Acquired	08/09/2006	abCDe	In shares.
abC Defghij	Acquired	05/01/2012	abCDe
abC Defghij	Acquired	11/08/2014	abCDe
abC Defghij	Acquired	14/04/2011	abCDe	Summit purchased Answers through its subsidiary, AFCV Holdings which took over the company and delisted it. 04/2012: Answers received a significant minority investment from TA Associates. 12/2013: Answers raised $300 million in equity from existing investors, including Summit Partners, TA Associates and AFCV. 08/2014: Holdings of Answers, together with Webcollage, were sold to Apax Partners.
abC Defghij	IPO	13/10/2004	abCDe	Initially, the company's stock had been trading on the AMEX Stock Exchange under the symbol GRU; Delisted from trade on 04/2011, following its acquisition.
abC Defghij	Acquired	19/10/2004	abCDe
abC Defghij	Acquired	02/06/2005	abCDe	In cash.
abC Defghij	IPO	25/10/2004	abCDe	Including green shoe option
abC Defghij	Merged	06/01/2003	abCDe
abC Defghij (Venture Capital Fund)	Holdings Sold	01/06/2004	abCDe

Historic Portfolio (3)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

DoubleFusion

Ceased to Operate

Ent. SW

Series B

18/12/2006

N/A

$26m

Earthnoise

Ceased to Operate

Ent. SW

Internal Financing	01/01/2001	N/A	$2.25m
Series A	01/05/2000	N/A	$7.6m

Netlaunch

N/A

Investment in Fund

01/01/1999

N/A

Last Updated:	abCDe
IVC Number:	abCDe