Europe’s premier conference for top investors, fund managers, entrepreneurs and senior executives in the technology private investment field.

The technology investment industry is now entering a recovery phase and looking forward with increasing optimism to the opportunities ahead. This represents a sharp contrast with the background to EVCA’s last three Technology Investment Conferences, each of which was held during a sustained downturn. With EVCA’s preliminary figures pointing to a stabilisation in investment, rising fundraising and declining write-offs, there can be little doubt that we have just passed an inflection point.

These perspectives will shape the agenda and debate at the 2004 EVCA Technology Investment Conference in Barcelona. On the exits side, the past six months have seen a re-opening of the IPO window, a revival in M&A activity and a recovery in public technology stock markets - developments which have fuelled more active investment strategies, particularly in early-stage opportunities. Panels of leading industry analysts, venture capitalists, corporate representatives and customers will examine current trends, plus issues such as which types of portfolio company provide the best exit opportunities, and whether the pressure for exits is resulting in some companies being sold too early.

On the fundraising side, there is the open question of what the next generation of funds will look like. With funds raised in 1999/2000 now deployed, it is time for reinvigoration and replenishment. What will the trends be for follow-on funds in terms of fund size, sector and stage of investment? How will investors react? These questions and more will be debated in depth.

All these issues are faced by the industry worldwide - but there are also some challenges that are specific to Europe. As globalisation continues, European firms are searching for the best way to expand into Asia in one direction and the US in the other. In this regard, China - the fastestgrowing major economy and a key end market for technology, especially in telecoms and networking - is increasingly important. The conference will examine the opportunities and risks for European venture capitalists in this pivotal marketplace. The technology investment industry is at a turning-point. Against this background, the 2004 EVCA Technology Investment Conference in Barcelona promises to be the most vibrant and exciting for several years.

Details/registration: www.evca-specials.com/technology04