Where connections spark growth.

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Where connections spark growth.

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Agenda

VC Industry Trends

Fund I Performance Review

Cintrifuse Fund of Funds Overview

Where connections spark growth.

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2013 VC Industry Trends

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2013 Venture Industry Overview

• Total VC Capital Invested increased but Deal Flow fell slightly in 2013.

• VCs invested $34 Billion in 2013 - the 3rd Highest Level in 10 years.

• Overall Deal Flow dipped by 15% from 2012 to 2013.

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

0

1,000

2,000

3,000

4,000

5,000

6,000

$1

9.7

$2

2.6

$2

5.0

$3

1.4

$3

3.2

$2

3.0

$2

6.9

$3

8.4

$3

4.1

$3

4.0

2,0492,344

2,532

3,2333,459

3,037

3,579

4,4314,804

4,067

Capital Invested ($B) # of Deals Closed

U.S. VC Deal Flow

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U.S. VC Deals by Stage

• Investments by Stage have Evolved Over Time as Focus on Seed Stage has Increased.• Early Stage Financings fell from 59% of VC Deal Flow in 2005 to 44% in 2013.

• Angel/Seed Financings increased from 5% to 27% of Total Deal Flow in the same period.

• Angel/Seed Financings accounted for $9.2B of the overall $34B in VC financing in 2013.

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Seed/Angel Early Stage Late Stage

U.S. VC Deals by Stage

Where connections spark growth.

VC Investments by Sector• The healthcare share of total venture capital investments was 19%—

the lowest proportion since 2001.• Hopeful uptick in exits and fundings in Q4 2013.

2004

2009

2013

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

31%

32%

38%

21%

10%

6%

9%

9%

13%

24%

25%

19%

2%

5%

3%

14%

20%

21%

Software Non-Software IT Commercial Services Healthcare Energy Other

US VC Deals by Sector

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Cintrifuse Early Stage Venture Capital Fund I, LLC

Performance Review

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Current Investors

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Fund I Highlights

• Total of $450M in Capital Under Management

• 44 companies

• ~150% average portfolio growth

Underlying Funds

• $51.1 million in committed capital

• 4 funds under management

• 8% called

• ~ One new fund per quarter

• Focus on early stage venture…

• …In technology, life sciences, consumer, energy

Cintrifuse Fund I

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Underlying Funds

Location: Cincinnati, OH Stage: Series A/B Investment focus: B2B Software,

Medical Devices

Location: Los Angeles, CA Stage: Seed/Series A/B Investment focus: Software,

Distribution, Financial Services, Digital Media

Location: Boston, MA Stage: Seed/Series A/B Investment Focus: SaaS, Cloud,

Mobile,, Technology-enabled service, Digital Media

Location: Houston, TX Stage: Seed/Series A Investment Focus: Software,

Ecommerce, Bioscience, Manufacturing, Energy

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Fund Summary$ Millions

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Portfolio Distribution

$ AmountG

eogra

ph

yIn

du

stry

# of Companies

Consumer 13%

Technology

83%

Life Sciences

5%

Consumer 11%

Technology

80%

Life Sciences

9%

West41%

South18%

Northeast20%

Midwest20%

West53%

South4%

Northeast32%

Midwest11%

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Growing Activity with VCs

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Cintrifuse Fund of Funds Overview

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To create a global destination

where entrepreneurs’ dreams are

realized.

For the Fund:

Build an Effective Early Stage

Venture Network

Mission

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Attract, Engage, Invest

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VCs Corporations

STARTUPS

Innovation

CustomerDea

l Flo

w

Funding

Deal Flow

Due Diligence

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Timeline

Q113

Q213

Q313

Q413

Q114

$40M First Close

$11M 2nd Close

Sarah Anderson

Joins

Acquired

2013 was a year of foundation building

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Ripple Effect

Seed Early LateEngaging with more than 200 Funds

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Engagement ScorecardACTIVITY DESCRIPTION

Dealflow to Members

Number of companies brought to Strategic LPs aligned with interests. Potential for relationships such as beta test, customer, joint venture or investor.

Advisory Boards/Mentorships

Participation in mentoring, advisory and committee roles for a) LPs, b) startups, c) research organizations, and d) industry/corporations.

Events Participation, sponsoring and contributing thought leadership throughout the year in events such as annual conference, Demo Day, Office Hours, etc.

Education/Curriculum

Introduce content and programs for delivering education for startups and entrepreneurs.

Media Engagement Social Media, Tweeting, Blogging, other press and statements about Cintrifuse

Presence Maintain a staffed office and/or partner-level activity in the region.

Direct Investment

Activity in sourcing deals from the region and other regional investors, includes startups met with, diligenced as well as actual investment.

Reporting Provide timely, accurate reports on regional activity, invested capital, jobs and other information as may be requested

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Invested Capital$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$1.0

$2.5

Outside Region Local Investments

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Economic Multiplier

Capital invested outside region = $2.74M

4 companies = $6.85M combined

Per $1 invested outside the region, $2.5 has been returned

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Goals for 2014

Close the Fund. Invest in 3 to 4 additional funds. Link the Underlying Fund portfolios more

directly with our strategic investors LEAP Innovation Days Venture Liaison Program.

Track and monitor the activity of funds

coming the region to optimize fund

performance and remain consistent with

our mission.

Where connections spark growth.

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Questions