Artificial Intelligence Summer Report 2024

ARTIFICIAL INTELLIGENCE SEMI-ANNUAL REPORT

Summer 2024

Index

Macroeconomic Overview

Industry Overview

Market Breakdown

Financing

M&A Activity

Industry Milestones

Looking Ahead

Case Studies

Behind this Report

About FE International

Macroeconomic Overview

The global economy is expected to settle into a pattern of "steady" growth. Despite recent challenges such as high interest rates, inflation, and geopolitical tensions, the 3.2% growth rate for 2024 and 2025 indicates resilience as we settle into a new normal after the pandemic. The economic pick-up is not uniform. Developed economies will likely see a slight acceleration from 1.7% growth in 2024 to 1.8% in 2025, while emerging markets and developing economies' growth rates are anticipated to remain stable. There's a sense of optimism emerging among business leaders. In the US, CEO confidence has risen for two quarters in a row, with recession fears fading significantly. European CEOs and China-based CEOs of US and European companies are also slightly more optimistic, with a more positive outlook on the short-term economic situation. However, cautious optimism in encouraged – market projections could shift notably depending on the outcome of the upcoming US presidential elections. Global Economy Settles Into Cautious Growth Pattern

Real GDP Growth (% YoY)

Forecast

4.2%

3.6% 2.3% 4.7%

3.2% 1.8% 4.2%

3.2%

1.7%

2018 2019 2020 2021

2022 2023 2024E 2025F

World

Advanced economies

Emerging market and developing economies

The Conference Board Measure of CEO Confidence

Q4 2023

Q2 2024

H2 2023

H1 2024

H2 2023

H1 2024

United States

Europe

China

Source: IMF World Economic Outlook, July 2024. The Conference Board. Note: Measure of CEO Confidence is a barometer of the health of the US economy from the perspective of US chief executives.

To combat inflation, central banks raised interest rates to levels considered restrictive to economic growth. However, with global inflation rates falling and projected to reach 4.4% by 2025, the IMF suggests these interest rates are nearing their peak. This normalization in interest rates and inflation eases the financial burden on businesses and consumers, potentially spurring an uptick in consumer activity and further investments from businesses. Leading economists are forecasting that advanced economies will achieve their inflation targets sooner than emerging markets. This recovery could be due to a combination of factors, such as stronger economic fundamentals and more robust policy responses. In recent months, the Swiss National Bank (SNB) and European Central Bank (ECB) lowered their interest rates. This is a positive sign for further cuts, with other markets following the impact of these rates closely. Inflation & Interest Rates Stabilizing

CPI Inflation Rate (%)

Forecast

8.2%

4.4% 6.0%

3.6% 2.0% 5.0%

5.9%

2.1%

2.7%

2018 2019 2020 2021

2022 2023 2024E 2025F

World

Advanced economies

Emerging market and developing economies

Interest Rate (%)

5.4% 4.3% 5.3%

Recent rate cuts by SNB & ECB

0.1% 1.3%

Jan-20 Nov-20

Oct-21

Aug-22

Jul-23

Jun-24

US (Fed)

Euro Area (ECB)

United Kingdom (BoE)

Japan (Bank of Japan)

Switzerland (SNB policy rate)

Source: IMF World Economic Outlook, July 2024, Interest rates as per central bank data of respective regions. Note: ECB = European Central Bank, SNB = Swiss National Bank.

Venture Capital & Private Equity Investment Outlook

VC Dry Powder ($B) by Vintage

PE Dry Powder ($B) by Vintage

$0 B $100 B $200 B $300 B $400 B $500 B $600 B $700 B $800 B 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

$0 B $200 B $400 B $600 B $800 B $1,000 B $1,200 B $1,400 B $1,600 B $1,800 B

2023 2022 2021 2020 2019 2018 2017 2016

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Dry powder for VC and PE has reached record levels, exceeding $700 billion for VCs and $1.5 trillion for PEs. This abundance of available capital is particularly appealing for AI companies, offering the potential for substantial investment. Additionally, AI-focused VCs are on the rise, with several significant fundraising rounds targeting various segments. However, converting this dry powder into actual investments may rely on the resurgence of strong exit opportunities for VCs through IPOs or M&A activity. Overall, the current environment presents a potential advantage for VCs to invest in promising ecommerce at potentially lower valuations.

Source: Pitchbook as of March 2024.

AI Industry Overview

The State of Artificial Intelligence

The Artificial Intelligence (AI) industry continues to benefit from robust expansion and disruptive advancements:

The global AI market size was estimated at $197 billion in 2023 and is projected to grow at a CAGR of 36.6% to reach $1,745 billion in 2030 . AI is seeing massive capital inflows from a large pool of investors ranging from strategic, financial and sovereign buyers, with check sizes ranging from small $10-50 million VC rounds to $10+ billion investments from large cap investors like Microsoft and Silver Lake Partners. AI public valuations are at all-time highs. On June 11, 2024, Nvidia’s market cap surpassed $3 trillion, joining Apple and Microsoft in the $3 trillion market cap club. Nvidia shares have increased by over 154% in 2024, driven by its dominant position in GPU- accelerated computing. Similarly, on June 12, Apple shares climbed more than 7%, reaching a market cap of $3.29 trillion, after it announced its plans to incorporate AI technology across native apps and its latest devices, ranging from writing-assistance technology to AI-generated emojis. Regulations continue to tighten around data privacy worldwide. We expect similar scrutiny of AI from regulatory bodies in the coming years as advancements upend business practices across industries. Notably, we will see AI companies continue to adapt and mold their business models to create a seamless partnership between machines and the global population.

Growing Market

AI-Driven Public Markets Boom

Increased Regulations

Source: CNBC, Reuters, Bloomberg,

The global artificial intelligence market size was estimated at $197 billion in 2023 and is projected to grow at a CAGR of 36.6% to reach $1,745 billion in 2030 , fueled by investments from various tech large cap corporations as well as financial and sovereign investments. Robust AI Market Growth

(In billions of USD) AI Industry Market Size

1,745

Growing Market

• Machine and Deep Learning: The increased use of deep learning and machine learning technologies has optimized data analytics, allowing computers to more accurately identify trends and make predictions. • Generative-AI: Generative AI has improved the quality of images, video, and text, disrupting the content creation process for the marketing industry. We expect generative AI to expand into other industries, such as healthcare, financial services and retail, to continue driving market growth. • Increased Productivity: AI will continue to serve as a tool that increases productivity in schools, universities, and the workforce. For example, AI writing assistants allow humans to synthesize data and organize information. This ongoing collaboration between machines and humans will continue to enhance productivity globally.

1,277

935

685

501

367

269

197

2023 2024E 2025F 2026F 2027F 2028F 2029F 2030F

Issues that Matter

Hardware Constraints The growing demand for GPUs and AI-specific hardware is leading to increased costs and supply chain challenges. Efficiency and cost- effectiveness will help businesses maintain competitive advantage and manage capital expenditures effectively. Rise of the Chatbot Customer assistance 24/7, powered by AI. Businesses are increasingly adopting AI chatbot technology to make the digital shopping experience more user friendly. Chatbots can answer FAQs, suggest items, and other customer- facing tasks — making the experience seamless for customers and simplifying operations for employees as well.

Growing Regulation New regulatory frameworks such as the EU AI Act and the US AI Bill of Rights are setting stricter guidelines for data privacy and ethical AI development. These regulations impact investment strategies and operational protocols, making compliance and consumer trust paramount. AI & Sustainability AI can enhance efficiency and reduce emissions, but the energy consumption required for AI development poses environmental challenges. Financial leaders must balance these factors when investing in AI technologies to align with sustainability goals and regulatory expectations.

Growing Cybercrime AI catalyzes creation and disruption alike — unfortunately, that means a new wave of cybercrime. Threats will take new faces and emerge faster than ever. Enterprises can expect increased cybersecurity regulations and will need to prioritize holistic practices that both protect digital touchpoints and reduce human error. Battling Giants Google, Microsoft, Facebook, Twitter and Amazon are fiercely competing to dominate the market. This battle involves massive investments in AI research and development, acquisitions of AI startups, and aggressive recruitment of top AI talent. These companies are also developing proprietary AI platforms and services to capture market shares. The competition drives rapid innovation but also leads to increased costs and strategic risks for other players in the AI industry.

Source: Cybercrime Magazine

AI Market Breakdown

Artificial Intelligence Market Overview AI is seeing massive capital inflows from a large pool of investors. Strategic, financial, and sovereign buyers alike show interest in AI — with check sizes ranging from small $10-50 million VC rounds to $10+ billion investments from large cap investors like Microsoft and Silver Lake Partners. In Q1 2024, AI startups raised $12.2 billion in capital through 1,166 transactions. This is a 9% rise in transaction volume and a 4% rise in dollar volume from Q4 2023 when $11.7 billion was raised through 1,072 transactions. This increase was mostly fueled by $5.3 billion in foundation model megadeals, led by Anthropic, xAI, and MiniMax. This shows both strong investor sentiment for the sector as well as exponential opportunities for growth as enterprises build onestablished AI/ML models.

AI Venture Capital Rounds by Number of Transactions

(# of Transactions)

1,269

1,219

1,166

1,160

+9%

1,129

1,072

Q4 '2022 Q1 '2023 Q2 '2023 Q3 '2023 Q4 '2023 Q1' 2024

(In Billions of USD) AI Venture Capital Rounds by Dollar Volume

16.3

+4%

12.8

12.2

11.7

11.1

7.9

Q4 '2022 Q1 '2023 Q2 '2023 Q3 '2023 Q4 '2023 Q1' 2024

Source: Crunchbase

Q1 2024 saw a 25% drop from Q1 2023, largely due to smaller transaction sizes in 2024. This represents a strategic shift towards more focused and efficient investments. Smaller rounds enable investors to diversify their portfolios, supporting a wider range of AI projects and spreading risk. This trend is reflected by key deals from the last year. In January 2023, OpenAI secured a $10 billion round from Microsoft, marking one of the largest venture capital rounds in AI history. China-based Moonshot AI was the only company to raise $1 billion or more in Q1 2024, in a round led by Alibaba and HongShan Group. Figure secured $675 million in a round led by Explore Investments and Nvidia, making it the second-largest round of the quarter. These deals highlight the ongoing commitment to AI advancements and large-scale funding in key markets — especially among the largest competitors — despite smallertransaction sizes. Strategic Refinement: Optimizing AI VC Rounds from 2023

Date Announced

Amount (Million)

Company

Lead Investors

Mar-2024

$600

Feb-2024

$675

Feb-2024

$1,000

Jan-2023

$10,000

Source: CapIQ, Pitchbook, Trade.gov

Investment by Segmentation

Investor Type

Major investors

Commentary

AI investor interest soars as the industry lessens its focus on crypto and fintech. The US became the largest funding source for AI startups, with Andreessen Horowitz, Sequoia, and Tiger Global leading major investment rounds. Tech giants are flexing dedicated venture arms, like Google Ventures and Intel Capital, to significantly invest in AI startups. Aligning niche players and their systems within broader corporate strategies helps secure both emerging technologies and competitive market footholds efficiently. The public sector is ready to leave behind lagging legacy systems. Digital technology platforms are helping government agencies retire inefficient infrastructure, thereby achieving greater economies of scale. Notably, the Department of Defense made substantial AI-related investments in 2022-2023.

Financial / VC

CVC / Strategic

Governments / Sovereigns

Source: Pitchbook Q1 2024 Artificial Intelligence & Machine Learning Report.

AI Financing

Global AI Financing

Artificial Intelligence Financing by Year (In Billions of USD)

Total Deal Size in ($B) # of Deals

2020 laid the groundwork for AI with $40 billion in funding. While uncertainties of the pandemic initially slowed investments, financing deals saw a substantial rise in 2021 as novel foundation models set new industry precedents. There were 3,000 AI-related funding rounds in 2021, compared to around 2,100 in 2020. Plus, 2021 saw a surge in mega-rounds, or rounds exceeding $100 million, and even marked the emergence of new AI unicorns — with several startups reaching valuations over $1 billion. Significant rounds raised by notable AI startups, such as Databricks and UiPath, contributed to the overall rise in AI financing. Overall, the trends from 2021 reveal a strong financial foundation for growing AI technologies, which still holds in 2024. 2024 continues this trend of rising AI financing deals. Investors have sustained confidence inthe transformative potential of AI technologies. Likewise, public- private partnerships and increased government funding for AI research and development will play a significant role in supporting the growth of AI startups and projects. As generative AI is further refined and integrated across industries, we expect enhanced global AI investment initiatives for years to come.

Annualized

64.4

1,166

638

46.9

91.9

58.9

43.4

35.3

2020

2021

2022

2023

YTD 2024

Financing Volume by Quarter (In Billions of USD)

Total Deal Size in ($B) # of Deals

786 783 773 757

702

640 624

590

494 498 523

510

499

466

422

418

317 316

7.4 10.6 10.7 16.7 19.5 25.0 22.3 24.2 19.1 19.1 9.9 10.6 13.1 10.5 8.5 11.0 9.8 25.3

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2023 2024

Source: PitchBook, Fortune Business Insights, Grand View Research, Trade.gov

Source: Pitchbook as of June 2024. Data consists of transactions where deal value was disclosed.

Distribution of Financing Rounds by Volume

$0 - $5M $5 - $10M $10 - $25M $25 - $100M $100 - $250M $250M+

13%

14%

18%

36%

43%

44%

2022

2023

Q1 2024

18%

21%

18%

20%

• AI financing deals shift toward the $10-$100 million range compared to the predominance of smaller deals in 2022 and 2023. The trend in 2024 underscores a strategic move by investors to support more robust and sustainable AI developments, reflecting a maturing market that seeks impactful technological advancements on previous growth. • A substantial 36% of AI financing deals are still under $5 million, signaling continued interest in new enterprises with unique offerings, like AI integrations and hardware.

Source: Pitchbook as of July 2024. Data consists of transactions where deal value was disclosed.

Largest Financing Deals in 2024

Deal Size ($M)

Company

Date

Funding Type

Company

Date

Funding Type

01-May-24

8,600

Later Stage VC

16-Feb-24

320

Later Stage VC

26-Jun-24

6,000

Early Stage VC

09-Apr-24

300

Later Stage VC

26-Jan-24

1,200

Later Stage VC

22-May-24

300

Later Stage VC

19-Feb-24

1,000

Early Stage VC

16-May-24

254

Later Stage VC

21-May-24

1,000

Later Stage VC

12-Mar-24

250

Later Stage VC

24-Apr-24

1,000

Early Stage VC

30-Apr-24

250

Later Stage VC

23-Feb-24

675

Later Stage VC

24-Apr-24

227

Early Stage VC

11-Jun-24

651

Early Stage VC

09-May-24

220

Seed Round

11-Jun-24

650

Later Stage VC

26-Mar-24

175

Later Stage VC

Cognition

26-Feb-24

431

Early Stage VC

22-Apr-24

175

Early Stage VC

31-May-24

400

Later Stage VC

29-Mar-24

150

Later Stage VC

Source: Pitchbook as of June 2024.

AI M&A Activity

Artificial Intelligence M&A Activity

Artificial Intelligence M&A by Year (In Billions of USD)

Total Deal Size in ($B) # of Deals

Annualized

48.1

From 2020 to 2024, there has been a significant uptick in acquisitions of AI startups by major tech companies, aimed at bolstering their technological capabilities and market positions. In 2021, there was a notable increase in sector-specific AI investments. This is prominent in healthcare, where AI-powered solutions promise significant advancements in diagnostics and patient care. Further, the need for remote collaboration brought by the COVID-19 pandemic accelerated digital adoption and AI deployment across industries in 2021. This all drives heightened interest in AI M&A as companies seek AI technologies for more remote work solutions and operational efficiencies. Cities like San Francisco, Beijing, and Tel Aviv have emerged as prominent global hubs for AI innovation and witnessed a noticeable regional surge in AI sector M&A activity. This trend during these past years has drawn regulatory scrutiny worldwide, with regulators closely monitoring deals to ensure compliance with fair competition and data protection laws. Projections show the AI sector is expected to continue experiencing robust M&A activity, driven by advancements in machine learning, natural language processing, and computer vision technologies.

700

383

38.5

53.3

50.8

16.8

26.3

2020

2021

2022

2023

YTD 2024

M&A Volume by Quarter (In Billions of USD)

Total Deal Size in ($B) # of Deals

276 288

273

229 236

228

202 190 209

190 184

187

170

165

160

139

120

8.3 5.2 1.7 22.0 10.7 8.5 15.8 18.3 24.1 6.4 2.3 17.3 1.2 5.8 6.2 3.1 20.3 2.3

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2023 2024

Source: Pitchbook as of June 2024. Data consists of transactions where deal value was disclosed.

Source: PitchBook, Forbes, Harvard Business Review, TechCrunch, McKinsey & Company.

Distribution of Global M&A Deals by Volume

4%3%

10%

14%

22%

2022

2023

Q1 2024

22%

64%

73%

80%

$0 - $100M $100 - $500M $500 - $1000M $1000M+

• 64% of AI M&A deals have been valued under $100 million in 2024, reflecting a broad spectrum of transaction sizes in the AI sector. • There is a noticeable shift in 2024 towards larger AI M&A deals ranging from $10-$500 million. This contrasts with the previous markets, which were predominantly characterized by deals under $100 million. • Companies are increasingly expanding their market presence through strategic acquisitions in AI. This strategy gives larger organizations access to more advanced technologies more efficiently and is evident in the rising number of mid-sized deals, which are valued between $100-$500 million.

Source: Pitchbook as of June 2024. Data consists of transactions where deal value was disclosed.

Largest FinTech M&A Deals in 2024

Deal Size ($M)

EV/LTM Revenue

Deal Size ($M)

EV/LTM Revenue

Target

Buyer

Date

Target

Buyer

Date

13-Mar-24

12,250

07-Feb-24

250

19-Mar-24

3,970

3.3x

26-Jun-24

230

01-Jul-24

2,130

28-Mar-24

200

31-Mar-24

1,500

17-Jan-24

200

29-Feb-24

1,350

06-May-24

165

16-May-24

923

03-Jan-24

155

01-Mar-24

603

01-Apr-24

132

01-Feb-24

429

20-Mar-24

02-Jan-24

427

12-Feb-24

02-May-24

300

02-May-24

Source: Pitchbook as of 15 June 2024.

Lower Middle Market M&A Deals in 2024

Deal Size ($M)

EV/LTM Revenue

Deal Size ($M)

EV/LTM Revenue

Target

Buyer

Date

Target

Buyer

Date

20-Mar-24

11-Apr-24

12-Feb-24

31-Jan-24

02-May-24

10-Jun-24

29.4X

05-Jan-24

01-Jul-24

29-Feb-24

02-Jul-24

3.1x

Source: Pitchbook as of 15 June 2024.

Industry Milestones

Nov 2022

Mar 2023

Sep 2023

Apr 2024

Acquisition of

$100M

Undisclosed

$3.1Bn

$5.3Bn

2022

2023

2024

Jun 2022

Jan 2023

Apr 2023

Jan 2024

Acquisition of

Undisclosed

$10.0Bn

$4.9Bn

$14.3Bn

Sources: Industry Research

Looking Ahead Expect major AI investments from a diversified buyer pool, including sovereign funds, venture capital funds, and even major tech corporations, who look to maintain an upper hand on the competition by incorporating new generative AI and machine learning technologies. That said, there are a few risks in the pipeline: • Higher Initial Costs: 50% of executives have cited costs as the largest hurdle to their company’s AI implementation. Costs related to infrastructure, data collection and AI talent acquisition can be daunting for startups and SMBs. Experts have estimated that it takes 18 months on average to fully implement AI projects, which can pose a significant risk for risk-adverse companies that may be operating with a tight budget. • Increased Regulations: Data privacy, misinformation and cybersecurity risks spur increased regulations for AI. Recently, the National Institute of Standards and Technology passed the Federal Artificial Intelligence Risk Management Act of 2023, which directs federal agencies to use an Artificial Intelligence risk management framework. • Need for Private AI: AI algorithms are trained to use customer information, causing data privacy concerns. Industries in the public sector, life sciences, and financial services will look to minimize data breach risk by limiting public AI usage and search for vendors who can offer private AI. Public AI valuations are at all-time highs — Microsoft, Apple and Nvidia all recorded market caps of over $3 trillion in 2024, driven by major technological advancements in the industry. Maintaining rapid growth will hinge on an enterprise's ability to accommodate increased regulation. This is notable around data privacy, which will spur an opportunity for AI companies to implement private AI. Overall, we expect AI to continue benefiting the global economy, as organizations across the globe continue to implement AI to increase productivity, achieving tasks with more accuracy and at a faster rate.

Case Studies

AI Writing Tool Receives 5 Offers After Selective Search FE professionals represented an Anonymous AI Writing Company in a competitive and successful sales process

This AI Writing Tool is a pioneering platform with innovative solutions for students, teachers, writers, and businesses across the globe. With over 10 million users and a presence in over 180 countries, the company integrates cutting-edge AI tools to enhance productivity and creativity in content creation. Key offerings include AI-driven writing, rewriting, homework assistance, grading, and plagiarism detection, all backed by robust research tools that ensure accurate and high-quality output. Company Overview:

Anonymous AI SaaS Content Creation

Sold to

Private Buyer

Key Value Drivers:

• 86 Parties Contacted • 5 Offers Received Buyer Interest:

Process Results:

• Achieved $3M in annual recurring revenue by August 2023, indicating strong product-market fit and consistent revenue growth • Garnered 71 million website sessions in the last 12 months, demonstrating extensive user engagement and robust platform appeal • Realized compound monthly growth rates of 4% for ARPU and 3% for lifetime value • Impressive 4.6 out of 5.0 stars on Trustpilot

• As FE International knows the space very well, a focused, yet competitive process sale was achieved. • FE ran IOI and LOI stages and obtained five competitive offers for the business, meeting the owner’s expectations with a buyer able to execute seamlessly and at the right price

Copymatic Joins NextNet Media FE International strategically reached out to 99 potential buyers for Copymatic, which yielded 5 offers and its acquisition by Next Net Media

Copymatic provides advanced content generation tools tailored for marketers and writers. Through its innovative platform, users can harness AI- driven solutions for copywriting, content optimization, and audience targeting. With features such as real-time editing, SEO recommendations, and multilingual support, Copymatic transforms the content creation process. It delivers impactful and audience-centric narratives. It is competitively u nparalleled in the AI writing space — it holds a distinct position among giants like Grammarly and CopyAI for boasting a laudably low plagiarism rate of 2%. Company Overview:

Sold to

Key Value Drivers:

Buyer Interest:

• FE International efficiently orchestrated a process where Copymatic, upon entering the market, swiftly garnered five notable bids. This culminated in an LOI with Next Net Media. Our deep industry ties played a crucial role in obtaining these offers Process Results:

AI Writing Software

• Stellar momentum in the AI content generation sector, exemplified by a revenue growth of 1036% since its inception • Operational agility reflected in a solo-driven yet efficient structure. The founder's dedication fuels both technical and strategic facets of the business • Strong financials with net margins of 54% over the LTM, surging to 63% in recent months • Consistently rising LTV of c.$140

• 99 Parties Contacted

Behind this Report

Hector Sandoval Associate

Ismael Wrixen Executive Chairman

linkedin" Icon -

Hector Sandoval has 5+ years of Investment Banking experience. He has executed over $5 billion in capital raises for public and sponsor- backed companies. He previously was an Associate at Oppenheimer within the Leveraged Finance & Special Situations group.

Ismael Wrixen is Executive Chairman of FE International. Before FE, Wrixen was in large-cap M&A investment banking, where he executed several high-profile public deals, namely in the technology sector. He is a member of the Forbes Finance Council and a NACVA 2018 40 Under 40 Award winner.

Thomas Smale Chief Executive Officer

linkedin" Icon -

Thomas Smale dedicates his career to helping founders get acquired on their terms. He built FE into the leading advisor for lower middle market technology businesses. Thomas offers invaluable technical, diligence, and negotiation advice to early-stage and seasoned business owners alike.

Kanika Arora Analyst Kanika Arora has 2+ years of experience as an IB analyst at J.P Morgan in M&A, IPO, and shareholder activism space. She has a combined experience of over $4 billion in deals in the Diversified Industries & Transportation vertical covering chemicals, capital goods, transportation, A&D, and the airlines sector. linkedin" Icon -

Randal Stephenson Head of Investment Banking

linkedin" Icon -

Randal Stephenson has over 25 years of experience in both M&A advisory and debt and equity capital raising. Before FE, he held senior investment banking positions at Merrill Lynch, Jefferies, CIT Group, and Duff & Phelps. He has closed over 300 transactions valued at $44 billion across 22 countries.

About FE International Founded in 2010, FE International is an award-winning strategic advisor for technology businesses.

Sector Expertise

1,500 + Transactions completed on behalf of clients 1

Consumer Product Ecommerce Over 100 Successfully Closed Deals

Artificial Intelligence Over 15 Successfully Closed Deals

Agency & Marketing Solutions Over 50 Successfully Closed Deals

$48M Average Transaction Value

Percentage Completed Transactions 2 94.1% 70% +

Percentage of Sell-Side Transactions

Education Technology and Online Training Over 50 Successfully Closed Deals

Cybersecurity & FinTech Over 40 Successfully Closed Deals

Marketplace Apps Over 50 Successfully Closed Deals

Source: Company data. 1. Includes approximately 300 transactions completed by FE professionals while at other firms. 2. Sell-Side transactions, measured from the date of launch of buyer outreach and marketing.

London, UK

Warsaw, Poland

New York, USA

San Francisco, USA

Miami, USA

Mumbai, India

Awards:

Featured in:

This information is sent without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information contained in this document is for accredited investors only and not intended to be and does not constitute financial advice, investment advice, tax advice, legal advice or any other advice. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this email without undertaking independent due diligence and consultation with a competent financial advisor. You understand that you are using any and all information available in this document at your own risk.

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32

Made with FlippingBook interactive PDF creator