Profile: Dick Collard, Executive in Residence at Ariadne Capital
By Lisa Weissinger, Editorial Associate, Ariadne Capital
 

How did you get into the Industry?
Well I started in sales in the 1970’s, selling technology components, so I was at forefront of technology in 1974 when first microprocessors came on the scene. When I got my Computer Engineering degree from University of Sussex, we were building computers from individual transistors. Within five years computers worked on a single chip, which was a momentous and earth shattering occasion. My break came about because companies didn’t understand this new technology and when they were glancing through the CVs they were drawn to those like myself with Computer Engineering skills. So from a straightforward electronic component salesman I became a specialist in Microprocessors and their aids to development, known as Microprocessor Development Systems (MDS). I worked for a number of franchised electronic component distributors and then joined Tektronix (a large instrument company which was then a close competitor of HP) to help launch their universal microprocessor development system in the UK. I was then invited to join Millennium Systems Inc., a West Coast US company specialising in MDS products to become their European Sales Manager. I worked for them from 1980-83, driving a network of 13 distributors around Europe giving technology, business and sales support. Our Swiss distributor, Instrumatic AG, was operating in Switzerland, Spain (where they had a good contact) and Germany (to maximize their German-speaking market). After many discussions I joined them to set up their UK subsidiary as a 50/50 joint venture, although with very little cash. By 1990 our revenues were close to £10m with 80-90 staff and we were very profitable

What next?
I then became Executive VP in Europe, working on technology acquisitions, buying two software companies in the UK and managing the non-German speaking countries such as the UK, France, Spain and Italy. We sold the group in 1990/91 to Motor Columbus’s Swiss VC arm, Motor Columbus TechInvest who felt they needed a vehicle to take their US technology investments into Europe. Unfortunately our company was too specialised and therefore in a different market. I stayed on to work with the new CEO, but suppliers were cancelling contracts and the business began to lose revenue and was no longer profitable. We decided to turn the company around – so we restructured and downsized and consolidated, and then went for a joint venture with a company that I felt would take us into a new area of technology, Template Software. This soon turned into a merger, although at the last minute Motor Columbus backed out as they had sold us off to a small PC distribution company in Brighton who were looking for Pan European expansion. In 1995 I started with Template in the UK, with 3 people (whom I am still working with now on one of my latest ventures), and again – no cash. By 1999 we were turning over $26m in Europe, accounting for half of the entire group’s revenue, with 220 people in the UK, France, Germany and Austria. We succeeded in going public on NASDAQ in January 1997 at $16 per share, enabled to no small degree by an investment of $8 million at exactly this price by Alcatel, one of my major European accounts, in November 1996. We were taken over by Level 8 Systems (NASDAQ LVEL) in December 1999, and I left at the end of Q1 2000 – in retrospect the worst time possible as the share price, in line with the rest of NASDAQ’s technology stocks, crashed prior to the trading window opening for me in May. I was back to square one.

So what are you doing now?
I am currently working on a number of projects, setting up their operations in the UK and Europe, namely: KnowledgeMax, NetDisplays and Last Wednesday – a consulting partnership, and of course Ariadne Capital.


Why did you join Ariadne Capital?
I got involved with Ariadne Capital through a friend really. I have known him since the mid ‘80’s, and in March 2001 he introduced me to Julie at a business breakfast at Home House. I was very surprised at how frank and approachable Julie was and was extremely interested in the Ariadne Capital model. I began to go to Ariadne Capital internal meetings before the EiR (Executive in Residence) programme was officially formalised. The thing I like most is the efficiency of the Ariadne networking concept, which is clearly beneficial to all involved with Ariadne and is helping in no small way to make formal networking become more acceptable in the UK. I have often felt that I have not taken full advantage of networking during my career as I was, in typical British fashion, not fully comfortable with it, but I now feel I ought to have done. As I see it there are three types of networking, two of which I am not in favour of:

1. The Network Marketing form (which I have fallen out with friends because of);
2. Personal advancement networking (always rather crass);
3. The Ariadne Way

I have learnt a lot from Ariadne Capital’s full grasp of the value of networking, especially when it’s done right – as it is at Ariadne. Rather than being for direct personal gain, Julie’s networking model is based on connecting people who need to be connected and bringing equal value to both parties.

Interestingly, as I am now heavily involved with many of Ariadne’s clients who are actively seeking venture funding (as are my own ventures) I have never before worked for a VC backed company - they have all started small with very little money. I have a strong belief that over the past few years in this industry many companies have been formed and funded without the right management able to drive a business forward in a tightly controlled way rather than choosing to rely on getting significant capital investment without having a solid business structure and management team. As we have seen their profligacy has led to many failures.

What motivates you?
The idea of retiring as soon as possible! Preferably to a sunny golf course. However my two young boys, 9 and 11, need to be brought up and educated first. I guess I am working for them really. They claim they will look after me when I’m old!

What’s the most interesting part of your job?
Seeing the interaction between new technology and the REAL world… I think Ariadne Capital has a more realistic view than most in the industry of how technology fits into the real world and how it can benefit all aspects of business – clients, management, employees and investors.

What would have been your alternative career?
Probably making wildlife documentaries for the BBC – I’ve always fancied myself as a David Attenborough!

Who has been the biggest influence in your life?
There has been no single person; many have influenced me – both positively and negatively. I don’t come from a particularly close family and my father died before I had attained any senior positions so there has been little influence there on my personal or business aspirations. I’m also a great believer that the outrageously successful people, and I imagine it will be easy to guess who I am thinking of here, get there by a combination of extreme good fortune and completely irrational self-belief. Those that I really admire have real ability tempered with a concern for others, fair play and the world in general that means they are probably not as materially successful as others.

What has been your greatest personal achievement?
Definitely my two boys Jack and Tom who I am sure will make me very proud one day.

Who would you most like to meet?
A surprisingly difficult question. There really is no single person (I’m not in the slightest religious). A number of celebrities (mostly female or sports stars) that I won’t embarrass myself here by mentioning I guess; no politicians or world leaders (I can never understand why anyone would want the job); possibly one of a number of people from the business world, if only to try to understand their self belief, but I could not name a single individual.


For more information: www.ariadnecapital.com/team_dick.htm