Case Study: Interview with Stephen Winter, Founder of Nebo

19 Oct 2017

How did Gustavino Capital first come across this opportunity?

This case is probably a bit different from the norm, as we didn’t actively go looking for someone like Ivan, as we had worked very closely with him over the years on a previous venture in which he advised the company on M&A and helped us get into position to make a sale / exit in 2012. I subsequently contacted Ivan through Gustavino Capital to discuss some new venture ideas that I had been considering.


What was the scope of Gustavino Capital’s involvement in Nebo?

The scope was to assist me in the establishment of a new IoT tech venture for the boating market which we didn’t pursue in the end. Ivan came on board as a shareholder but we pivoted this company into Nebo.


What was the experience working with Gustavino Capital like?

Our experience with Ivan in my previous company was excellent (IO Global – sold in 2012 to Imdex Ltd). If we had listened to and executed Ivan’s advice more quickly, we would have built an even stronger company. We (my previous business partner & I) were a couple of entrepreneur-type people who are not good at listening to advice… for example, at the next meeting Ivan would come back and we still wouldn’t have done anything.

If Ivan hadn’t been involved, our company would have failed or we would have sold it for a much smaller amount. My business partner and I were extremely happy and lucky to have him on board. It all came down to how he positioned it and made it happen.

We have been fortunate to benefit from an ongoing relationship with Ivan. Therefore, I knew the positive experience with Gustavino Capital would be similar in nature as it has been to date.


What was one of the biggest challenges that Gustavino Capital solved?

Getting Nebo into an investor ready state and a mind-set suitable for scaling internationally. This involved identifying which market segments we should concentrate on initially and what app features we should initially develop and focus on.


How do you see the most value-add or impact that Gustavino Capital has had on Nebo?

At this stage, it is difficult to comment for Nebo, as we are still at the early stages of the venture. So far, Gustavino Capital have assisted in ensuring that we have a capital structure and aligned investment story which has already attracted new investors, along with some insights into possible commercialisation models going forward.

However, we revert to our previous experience – where Ivan was responsible for positioning and executing the sale / exit of my first business.


What and how would you describe Gustavino Capital’s value to others if you were asked to provide a reference?

  • If I were sitting and having a coffee with someone, I would tell them; “Ivan is annoyingly right most of the time, and when he tells you to do something, you should do it.”
  • The value of his network, which was perfect for the world that we were operating in. Ivan has been very exposed to Industrial Tech and ICT globally, which is fairly unique and highly valuable.
  • We would always be wanting Ivan there to maximise the value of the business in the eyes of purchasers.
  • Ivan is brilliant when it comes to: executing the growth plan, implementing the sales process, and handling whatever the transaction may be.
  • Having Ivan there ensures that you keep your eye on the big picture, and not get caught up in the nitty gritty details.


Reason why you would want Gustavino Capital involved?

We would want Gustavino Capital on board to assist the company in creating the value uplift points in our growth journey so that we could maximise shareholder returns.

Gustavino Capital are a great sounding board for any tech team looking to scale globally, and that is the key reason we want them as a shareholder as well as in an advisory capacity.


About Nebo:

Nebo is an easy-to-use FREE APP that automatically tracks & logs your boating adventures, making it easy to record and share your boating memories and experiences. You can share with family and friends, members of your club, or with the larger community via social media.

You can download Nebo on the App Store here or for Android device here.

For more information, you can also visit their website or Facebook Page.



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