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Criteria & Themes (Traction Rounds)
VENTURE51 PITCH DECK

               VENTURE51 SUMMARY                             available upon request


             VENTURE51 PITCH DECK                                      VIEWING

VENTURE51 INVESTMENT STRATEGY                                available upon request


  VENTURE51 PROCESS & SYSTEMS                                available upon request




    “We are inventing the future, think about surfing on the front edge of a
    wave. It’s really exhilarating. Now think about dog-paddling at the tail
   end of that wave. It wouldn’t be anywhere near as much fun. Come down
                    here and make a dent in the universe.”
                                                         -Steve Jobs
DISCLAIMER
This PitchDeck provides an overview of Venture51 Capital Partners Fund II (“Venture51 Fund II”) which is being sponsored
by Venture51 Capital Fund, LLP (“Venture51”). Brandon Zeuner and Ryan Swagar are the managing partners of Venture51
Capital Fund, LLP. This document briefly describes the expected investment program of Venture51 Fund II. It also describes
the expected principal terms of Venture51 Fund II and the offering of securities to investors.

All information contained herein is subject to revision, structuring and completion, and this document does not constitute
an offer to sell or solicitation of an offer to buy any securities. Any such offer or solicitation will be made only by means of a
formal Confidential Memorandum that will be prepared and furnished to prospective investors at a later date. In the event
of any such offering, the information contained herein will be deemed superseded and amended in its entirety by such
Confidential Memorandum. Any decision to invest should be made solely in reliance upon such Confidential Memorandum.
The specialized investment program of Venture51 involves significant risks, which will be described in the Confidential
Memorandum.

This document is confidential, proprietary and is intended solely for the information of the person to whom it has been
delivered by Venture51 Fund II. It is not to be reproduced or transmitted, in whole or in part, to third parties without the
prior consent of Venture51. This booklet is not intended to constitute legal, tax or accounting advice or an investment
recommendation.
A NEAR-PERFECT STORM

                                                       IS FORMING

2.276B PEOPLE ON THE WEB
                                                                                                                                 2B SMART DEVICES BY 2015
          2.267B people on the web today
                                                                                MOBILE
        •

        • growth from 2000 to 2012 projected at 527%      WEB                                                       •   2B smartphone users by 2015
        • only 32.7 % penetrated                        MATURES              MAINSTREAMS                            •   projected growth at 175% YoY




                                                                  STRONG TECH
                                                                    ECONOMY




                                                                             BILLION USER SINGLE PLATFORM
                                                                       • early stage capital flowing
                                                                       • M&A activity holding steady
                                                                       • IPO liquidity emerging

                                                                       • platform maturity with facebook, google,

                                                                        apple, and amazon
                                                                       • facebook to reach 1B users
WHAT WE LEARNED


                                                                           Investing in 37 companies and 3 funds validated 4 key beliefs to
                                                                                              generating venture returns.




           SERIES A                                        MEANINGFUL                                             TECHNICAL                                   GEOGRAPHY
         BOTTLENECK                                        OWNERSHIP                                              FOUNDERS                                     MATTERS




 Sweet spot forming with a Series A crunch      Outsized returns are generated by having the                 Best performing companies have          Geographies still play a critical factor in
  happening by an overabundance of seed        right level of ownership and a meaningful level                technical founders composed of          meaningful outcomes. The Bay Area,
round financings in the past 3 years (largely   of follow-on participation. We’ve upgraded our           engineers, designers and growth hackers.      Souther California and New York still
 due to Angels and Super Angels). Lack of           strategy from “access” to “ownership”.              All technical founders or early employees.          remain core tech hubs.
 firms to follow-on after the seed and before
   the A presents a lucrative opportunity.
INVESTMENT STRATEGY


                                                      Based on our experience in Fund 1, we are upgrading our strategy
                                                                     for Fund 2 to focus on 3 key areas.




          TRACTION GAP FOCUS                                             ACCESS TO OWNERSHIP                                                         HYBRID APPROACH

                                                                  Outsized returns are generated by having the right                    A critical combination – neither operating experience or
   Post seed round - pre series A round presents an
                                                                    level of ownership, and a meaningful level of                        pattern matching alone is enough (e.g. “I’ve seen this
      interesting opportunity for funds to tap an
                                                                        follow-on participation, in your portfolio                                 before, but I don’t know what to do”).
            overheated seed marketplace.
                                                                                      companies.


SEED ROUND                               A ROUND
                                                              >                           >   7%                       >   5%
                                                              =    8%                     =                            =


                                                           SEED ROUND                 A ROUND                   B ROUND

            TRACTION GAP                                                              UPGRADE                                               OPERATIONAL               DATA-DRIVEN
                                                                      upgraded our strategy from access (“get in the                        EXPERIENCE                 ANALYSIS
                                                                     good deals”) to ownership (“buy/keep enough of
                                                                       each company that any positive outcome is
                                                                                 meaningful to the fund


                                                                                                                                    Qualitative Work                            Quantitative Work
      $250K - $750K ROUNDS                                                                                                         based on instincts,                         based on data and
                                                                                                                                 insights and intuitions                    predictive analytic models
                                                                                                                                    only gained from                           which help to guide
                scale growth model                                                                                              operational backgrounds                       investment decisions

                      prove business model

                           build value

                                 shop Series A
MARKET DISPLACEMENT


                                                                                                    Our portfolio crosses 8 themes and is generally
                                                                                                            stacked on 5 strategic models

                                         MOBILE MONETIZATION




DIGITAL HOUSEHOLD               MOBILE ECOSYSTEM                 EDGE ENTERPRISE                     NEW COMMERCE                   HEALTH & SELF                  PROFESSIONAL                      PLUMBING                     EDU-TECH
 Access to people, content       Apps are cool, but they          The edge of the SMB and              The old models of e-         The forces of software          Legacy software are being        Computers are talking to      An industry that is emerging
 and digital assets. Anytime.    don’t change the world.          departmental enterprise              commerce are changing        changing the healthcare         eaten by newer and better        each other more and more.     to supplement or outright
 Anywhere.                       Platforms that facilitate the    where software has a                 with the rise of group-      and wellness industries.        alternatives in the Financial,   There’s a software layers     replace traditional education
                                 mobile movement in terms         network effect in its                buying, micro-payments and   The focus of the quantified      Legal and Healthcare             that brings these pipes to    services from early
                                 of monetization,                 proliferation in the business.       collaborative consumption.   self will give rise to a new    markets. Traditional systems     the surface and allows        childhood through adult
                                 development and                                                                                    breed of personal metrics.      and processes are being          others to build on them.      learning.
                                 infrastructure do.                                                                                                                 overtaken rapidly.




     MODEL STACK                                                                                               COMMERCE, SUBSCRIPTION

                                                                                                   MARKETPLACES, COLLABORATIVE CONSUMPTION

                                                                                                            HUMAN COMPUTER INTERACTION

                                                                                                         BIG DATA, COLLECTIVE INTELLIGENCE

                                                                                                               PLATFORMS, MONETIZATION
KEY INVESTMENT CRITERIA

                                                                           Our thesis around our investment criteria falls into 6 major
                                                                       categories. We spend our time in the diligence phase proving and
                                                                                         disproving these assumptions.




MARKET POTENTIAL                           TRACTION                     REMARKABLE PRODUCT                          TEAM                    GEOGRAPHY                  CAPITAL EFFICIENT


Is the most important factor in a    Quantitative evidence of market    An addictive user experience        Ideally a composition of a      Primary focus is the Bay    Capital efficiency in the
startup's success or failure. In a   demand. Demonstrated               lies in the combination of          backend engineer, front-end     Area, New York, and         early stages is key to
great market -- a market with lots   product/market fit.                 human values including              engineer and a growth           Southern California.        commercial success. When
of real potential customers -- a                                        desirability and usability,         engineer. This technical trio                               a company is scaling for
good market always pulls                                                business viability, and             will either carry founder                                   growth, it's critical to reserve
product out of potential breakout                                       technology feasibility. Design      shares or have high first-                                   plenty of runway by keeping
startups, not the other way                                             innovation, aka the Unfair          employee ownership in the                                   the burn low.
around. Market is king.                                                 Design Advantage, lies in the       company.
                                                                        sweet spot between the
                                                                        complimentary priorities.
TEAM


                                               Core operating team




 ryan SWAGAR                   brandon ZEUNER                         boz BUNDALO                         zach HAMILTON

MANAGING PARTNER               MANAGING PARTNER                     TECHNICAL PARTNER                    ASSOCIATE

co-founder of Venture51, co-   co-founder of Venture51,co-           partner at Venture51, co-           hustler at Venture51, co-
founded Republic Project,      founded Republic Project,             founded Upward. Founding            founder of Homely, &
co-founded Upward.             co-founded Upward.                    team at Republic Project,           MBerry. #Surfer #Skier
#Canadian #Golfer #Skier       Interact (makers of ACT! &            unicorn engineer & designer
#Surfer                        SalesLogix - sold to Sage in          #designexpert, #technical
                               ’01), Flypaper (Acquired in           guru #wikedsmart
                               ’11), #Golfer #Skier #Surfer




        RESUME                         RESUME                                RESUME                              RESUME


                                                   extended team




    DARRIN S. BROWN            ALAN BALDACHIN                   MATT STOVER                 TODD BARNHART
   GUNDERSON DETTMER               HBALLP                        MG STOVER               SILVERHAWK FINANCIAL

     Fund Legal Council        Fund Deal Council              Compliance & Reporting               CFO
Criteria & Themes (Traction Rounds)

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Criteria & Themes (Traction Rounds)

  • 2. VENTURE51 PITCH DECK VENTURE51 SUMMARY available upon request VENTURE51 PITCH DECK VIEWING VENTURE51 INVESTMENT STRATEGY available upon request VENTURE51 PROCESS & SYSTEMS available upon request “We are inventing the future, think about surfing on the front edge of a wave. It’s really exhilarating. Now think about dog-paddling at the tail end of that wave. It wouldn’t be anywhere near as much fun. Come down here and make a dent in the universe.” -Steve Jobs
  • 3. DISCLAIMER This PitchDeck provides an overview of Venture51 Capital Partners Fund II (“Venture51 Fund II”) which is being sponsored by Venture51 Capital Fund, LLP (“Venture51”). Brandon Zeuner and Ryan Swagar are the managing partners of Venture51 Capital Fund, LLP. This document briefly describes the expected investment program of Venture51 Fund II. It also describes the expected principal terms of Venture51 Fund II and the offering of securities to investors. All information contained herein is subject to revision, structuring and completion, and this document does not constitute an offer to sell or solicitation of an offer to buy any securities. Any such offer or solicitation will be made only by means of a formal Confidential Memorandum that will be prepared and furnished to prospective investors at a later date. In the event of any such offering, the information contained herein will be deemed superseded and amended in its entirety by such Confidential Memorandum. Any decision to invest should be made solely in reliance upon such Confidential Memorandum. The specialized investment program of Venture51 involves significant risks, which will be described in the Confidential Memorandum. This document is confidential, proprietary and is intended solely for the information of the person to whom it has been delivered by Venture51 Fund II. It is not to be reproduced or transmitted, in whole or in part, to third parties without the prior consent of Venture51. This booklet is not intended to constitute legal, tax or accounting advice or an investment recommendation.
  • 4. A NEAR-PERFECT STORM IS FORMING 2.276B PEOPLE ON THE WEB 2B SMART DEVICES BY 2015 2.267B people on the web today MOBILE • • growth from 2000 to 2012 projected at 527% WEB • 2B smartphone users by 2015 • only 32.7 % penetrated MATURES MAINSTREAMS • projected growth at 175% YoY STRONG TECH ECONOMY BILLION USER SINGLE PLATFORM • early stage capital flowing • M&A activity holding steady • IPO liquidity emerging • platform maturity with facebook, google, apple, and amazon • facebook to reach 1B users
  • 5. WHAT WE LEARNED Investing in 37 companies and 3 funds validated 4 key beliefs to generating venture returns. SERIES A MEANINGFUL TECHNICAL GEOGRAPHY BOTTLENECK OWNERSHIP FOUNDERS MATTERS Sweet spot forming with a Series A crunch Outsized returns are generated by having the Best performing companies have Geographies still play a critical factor in happening by an overabundance of seed right level of ownership and a meaningful level technical founders composed of meaningful outcomes. The Bay Area, round financings in the past 3 years (largely of follow-on participation. We’ve upgraded our engineers, designers and growth hackers. Souther California and New York still due to Angels and Super Angels). Lack of strategy from “access” to “ownership”. All technical founders or early employees. remain core tech hubs. firms to follow-on after the seed and before the A presents a lucrative opportunity.
  • 6. INVESTMENT STRATEGY Based on our experience in Fund 1, we are upgrading our strategy for Fund 2 to focus on 3 key areas. TRACTION GAP FOCUS ACCESS TO OWNERSHIP HYBRID APPROACH Outsized returns are generated by having the right A critical combination – neither operating experience or Post seed round - pre series A round presents an level of ownership, and a meaningful level of pattern matching alone is enough (e.g. “I’ve seen this interesting opportunity for funds to tap an follow-on participation, in your portfolio before, but I don’t know what to do”). overheated seed marketplace. companies. SEED ROUND A ROUND > > 7% > 5% = 8% = = SEED ROUND A ROUND B ROUND TRACTION GAP UPGRADE OPERATIONAL DATA-DRIVEN upgraded our strategy from access (“get in the EXPERIENCE ANALYSIS good deals”) to ownership (“buy/keep enough of each company that any positive outcome is meaningful to the fund Qualitative Work Quantitative Work $250K - $750K ROUNDS based on instincts, based on data and insights and intuitions predictive analytic models only gained from which help to guide scale growth model operational backgrounds investment decisions prove business model build value shop Series A
  • 7. MARKET DISPLACEMENT Our portfolio crosses 8 themes and is generally stacked on 5 strategic models MOBILE MONETIZATION DIGITAL HOUSEHOLD MOBILE ECOSYSTEM EDGE ENTERPRISE NEW COMMERCE HEALTH & SELF PROFESSIONAL PLUMBING EDU-TECH Access to people, content Apps are cool, but they The edge of the SMB and The old models of e- The forces of software Legacy software are being Computers are talking to An industry that is emerging and digital assets. Anytime. don’t change the world. departmental enterprise commerce are changing changing the healthcare eaten by newer and better each other more and more. to supplement or outright Anywhere. Platforms that facilitate the where software has a with the rise of group- and wellness industries. alternatives in the Financial, There’s a software layers replace traditional education mobile movement in terms network effect in its buying, micro-payments and The focus of the quantified Legal and Healthcare that brings these pipes to services from early of monetization, proliferation in the business. collaborative consumption. self will give rise to a new markets. Traditional systems the surface and allows childhood through adult development and breed of personal metrics. and processes are being others to build on them. learning. infrastructure do. overtaken rapidly. MODEL STACK COMMERCE, SUBSCRIPTION MARKETPLACES, COLLABORATIVE CONSUMPTION HUMAN COMPUTER INTERACTION BIG DATA, COLLECTIVE INTELLIGENCE PLATFORMS, MONETIZATION
  • 8. KEY INVESTMENT CRITERIA Our thesis around our investment criteria falls into 6 major categories. We spend our time in the diligence phase proving and disproving these assumptions. MARKET POTENTIAL TRACTION REMARKABLE PRODUCT TEAM GEOGRAPHY CAPITAL EFFICIENT Is the most important factor in a Quantitative evidence of market An addictive user experience Ideally a composition of a Primary focus is the Bay Capital efficiency in the startup's success or failure. In a demand. Demonstrated lies in the combination of backend engineer, front-end Area, New York, and early stages is key to great market -- a market with lots product/market fit. human values including engineer and a growth Southern California. commercial success. When of real potential customers -- a desirability and usability, engineer. This technical trio a company is scaling for good market always pulls business viability, and will either carry founder growth, it's critical to reserve product out of potential breakout technology feasibility. Design shares or have high first- plenty of runway by keeping startups, not the other way innovation, aka the Unfair employee ownership in the the burn low. around. Market is king. Design Advantage, lies in the company. sweet spot between the complimentary priorities.
  • 9. TEAM Core operating team ryan SWAGAR brandon ZEUNER boz BUNDALO zach HAMILTON MANAGING PARTNER MANAGING PARTNER TECHNICAL PARTNER ASSOCIATE co-founder of Venture51, co- co-founder of Venture51,co- partner at Venture51, co- hustler at Venture51, co- founded Republic Project, founded Republic Project, founded Upward. Founding founder of Homely, & co-founded Upward. co-founded Upward. team at Republic Project, MBerry. #Surfer #Skier #Canadian #Golfer #Skier Interact (makers of ACT! & unicorn engineer & designer #Surfer SalesLogix - sold to Sage in #designexpert, #technical ’01), Flypaper (Acquired in guru #wikedsmart ’11), #Golfer #Skier #Surfer RESUME RESUME RESUME RESUME extended team DARRIN S. BROWN ALAN BALDACHIN MATT STOVER TODD BARNHART GUNDERSON DETTMER HBALLP MG STOVER SILVERHAWK FINANCIAL Fund Legal Council Fund Deal Council Compliance & Reporting CFO