LJ Ventures is an early-stage venture fund focused on sourcing, diligence, and growing companies, leveraging a strong network of founders and investors. The document outlines investment strategies, notable investments, and the team's expertise in aiding companies with fundraising, product development, and culture. Additionally, it provides performance data and investment criteria, emphasizing a focus on entrepreneurs with resilience and customer empathy.

1. Long Journey Ventures
E A R L Y S T A G E V E N T U R E F U N D

2. L J V E N T U R E S 2
DISCLOSURES
The statements set forth herein do not constitute an offer or solicitation to purchase limited partnership interests in LJ Ventures Fund
II, L.P., a Delaware limited partnership (“Fund,” which has not yet been formed), or any related vehicle. All statements made herein
are subject to change and subject in all respects to and qualified in their entirety by reference to the definitive legal agreements (such
as the limited partnership agreement (“LPA”) and subscription agreements), which shall be provided to any prospective investor upon
request and must be reviewed in detail. Each recipient of this document agrees that it may not be reproduced or distributed to others,
at any time, without the prior written consent of the Fund and that the recipient will keep permanently confidential all information
contained herein not already in the public domain.
In considering the investment performance information contained in this presentation, prospective investors should bear in mind that
past performance is not necessarily indicative of future results. There can be no assurance that the Fund will achieve results
comparable to those of the investors or funds listed. Some of the performance numbers listed are gross of fees, and actual returns to
investors will be net of fees, which can differ substantially.

3. L E E J A C O B S
Fmr. Partner AngelList; MHS
Capital
E L A I N E W H E R R Y
Meebo (acquired by Google
$100M); Dandelion Chocolate
P A S C A L L E V Y -
G A R B O U A
VP Business at Checkr; Angel
investor in Notion, Checkr, and
Trusted Health
J O N B R U C K
Founder Pocket (acq by Mozilla,
IndexTank (acq. by LinkedIn);
Xoopit Product Lead (acq by
Yahoo!)
L J V E N T U R E S 3
EXPERIENCED
BUILDERS AND
INVESTORS
World Class angel track
record. Investment in:
Founder/Managing
Director
B R I A N B A L F O U R
Founder and CEO of Reforge;
Hubspot
VENTURE
PARTNER
VENTURE
PARTNER
VENTURE
PARTNER
VENTURE
PARTNER
C Y A N B A N I S T E R
Entrepreneur and investor. Uber,
SpaceX, Carta, Postmates,
Niantic. Fmr. Partner at Founders
Fund.
Manager Director

4. 4
WE HAVE UNPARALLELED NETWORKS
THAT HELP US SOURCE, DILIGENCE, AND
GROW OUR COMPANIES.
L J V E N T U R E S
Cyan Banister AngelList & Reforge Ecosystem Unique Geographies
At AngelList, Lee identified the next
generation of investors & this network
has become a sourcing advantage.
As the CEO of Reforge, Brian is the
center of emerging leaders in tech and
this network helps us source and
evaluate companies.
Cyan is an early backer of multiple
iconic companies and deeply
entrenched in networks like the PayPal
Mafia. Cyan is an extremely connected
and sought after investor.
Lee has a deep network in LatAm and
has sourced great companies like
Pipefy, CargoX, Rappi, etc.
Pascal will be located in Paris & will
attract the best seed stage companies
in Europe before U.S investors.

5. L J V E N T U R E S 5
WE HELP
OUR
COMPANIES
WITH THEIR
TOUGHEST
CHALLENGES
FUNDRAISING
Lee spent 2+ years at AngelList and
has been directly involved in helping
founders raise $150m+.
PRODUCT & GROWTH
Brian’s ecosystem of world class
product and growth leaders from top
Silicon Valley companies.
RECRUITING & CULTURE
Elaine is a world class recruiting &
culture practitioner and has written
about it in publications like the WSJ.
PRODUCT DISCOVERY & STRATEGY
Jon is a product discovery expert, and
excels at leading founders through
product discovery and design sprints.

6. “
“When considering the amount they invested and the value they added, they are
the most valuable investor we have. They helped recruit growth consultants and
Lee helped prepare me for the fundraise and made a lot of helpful intros.”
D A Y O E S H O , F O U N D E R O F T R A V E L J O Y
L J V E N T U R E S 6

7. Joe Thomas, CEO Loom
“Brian went above and beyond helping us vet
our first growth hire and Lee went above and
beyond helping us strategize our Series A.
10/10 would recommend.”
7
S E E D +
COMMITTED EARLY
We were introduced to
company by General
Catalyst and invested in
Seed+.
S U P P O R T
REFORGE CONTENT
Loom leveraged Reforge
(Brian’s company) content
to design monetization
strategy.
S E R I E S B
GROWTH ROUND
$30M Series B from
Sequoia Capital.
S E R I E S A
CONTINUED SUPPORT
Kleiner Perkins leads
$11M Series A. We are
one of the few who
earned right to maintain
pro-rata.
L J V E N T U R E S
VALUE ADD:
GROWTH &
FUNDRAISING
S E R I E S B - 2
GROWTH ROUND
$29M Series B-2 from
Sequoia Capital and
Coatue at 2x Series B
valuation after 5 months.

8. 8
VALUE ADD:
FUNDRAISING
S E E D S U P P O R T S E R I E S A
COMMITTED EARLY
Committed to the company when
company had 1 installation.
INTRODUCED CEO TO
FOUNDERS FUND
Helped with fundraising pitch
design and made introductions
that resulted in 2 lead term
sheets.
CONTINUED SUPPORT
Bain led $30M Series A. We
invested in round and continue to
advise CEO.
L J V E N T U R E S
Chase Lochmiller, CEO CRUSOE
“Lee was instrumental in the early stages of
our development. He helped shape our
fundraising strategy and process. We are
extremely glad to have him involved.”

9. Alessio Alionço, Pipefy CEO
“Lee is a hyper connector. He can navigate
the whole industry.”
9
S E E D
COMMITTED EARLY
We were among the first
investors to commit to invest.
The company was pre-revenue.
S U P P O R T
INTRO TO NETWORK
Introduced CEO to Dan
Scholnick from Trinity Ventures
who led seed round.
S E R I E S B
CONTINUED SUPPORT
Added key team member on
growth team and helped recruit
an independent board member.
$45M Series B from
Insight.
S E R I E S A
FUNDRAISING STRATEGY
Helped Alessio (CEO) orient the
business model and get to a
Series A. Openview and Trinity
led Series A.
L J V E N T U R E S
VALUE ADD: HIRING/
RECRUITING

10. “
“The round definitely would not have come together without Lee’s help, and I’m
not just saying that. From the moment when we started to when we finished
fundraising, he’s put in a lot of work in terms of helping us with the pitch and
introducing us to the right people. He’s been super helpful.”
D A R I A E V D O K I M O V A , F O U N D E R O F V O I C E O P S
L J V E N T U R E S 10

11. 11
VALUE ADD:
FUNDRAISING
S E E D S U P P O R T S E R I E S A
First Fund to Commit
Committed at white paper stage
INTRODUCED CEO to Bain
Helped with fundraising pitch
design and made introductions
that resulted in 2 lead term
sheets.
CONTINUED SUPPORT
a16z led $25M Series A.
L J V E N T U R E S

12. L J V E N T U R E S 12
OUR PILOT FUND INVESTED APPROX.
$10M BETWEEN 2016-19. IT’S WORKING.
YEAR
Multiple of Invested
Capital (MOIC) - Gross
2017
2016
2018
*Our investments data is GROSS MOIC, unaudited and in some cases relies on 3rd party source. Realized is gross capital returned and not net of fees. Data is through July 1,
2020. Important to consider this our best estimate. 2018 investment, Compound Finance has been converted to a token and in June we realized a portion of the position. While
COMP token is trading at approx. $210, we are restricted in our ability to sell and thus holding it at $157.50 to reflect illiquidity.
Capital Realized
2019
Invested Capital Value Capital Unrealized

13. 13
WE CONSISTENTLY
INVEST WITH THE BEST
X6 X3 X2
X5 X3 X2
X4 X1 X1
Co-investors
L J V E N T U R E S

14. L J V E N T U R E S 14
4 OF EVERY 5 INVESTMENTS MADE IN 2016
RAISED FOLLOW ON CAPITAL
COMPANY INITIAL
ROUND
CO-INVESTORS
/FOLLOW-ONS
LAST FUNDING ROUND
Seed
Seed
Series A
$25M Series B- General Catalyst
$25M Series A- A16Z
$125M Series D- General Atlantic
Seed
$8M Series A- Founders Fund & 8VC
Seed $30M a16z Series A+ & Unusual

15. L J V E N T U R E S 15
CONTINUED
Seed+
Seed
Seed
$30M Series B- Sequoia
$16M Series A- Cavu
Secondary Exit to Nestle
$45M Series B- Insight
COMPANY INITIAL
ROUND
CO-INVESTORS
/FOLLOW-ONS
LAST FUNDING ROUND
Seed $9M Series A- True Ventures

16. L J V E N T U R E S 16
INVESTMENT CRITERIA
Core Investments:
• 35-40 core investments of approx. $400k- $700k
• Founders with long standing relationship from network
• We are generalists and keep an open mind about market. We gravitate toward founders who have a
history of perseverance and grit (i.e. immigrants) and deep customer empathy.

17. L J V E N T U R E S 17
OCT 2020 UPDATE

18. L J V E N T U R E S
18
NEW FUND PORTFOLIO HIGHLIGHTS
COMPANY Summary CO-INVESTORS
All in one-platform for
Freelancers
ADP for 30 hour workers
Stealth transportation
All your data in a spreadsheet
QVC for Gen-Y
Co-invested with Ludlow Ventures +
Founders of AllBirds, Warby Parker,
Flatiron Health
Led round with Box Group
+CMO of Plaid participating
Co-invested with Bloomberg
Beta, Naval Ravikant, etc.
Led round and introduced CEO
to NextView
Series A led by Matt Cohler at
Benchmark*
Venmo + Shopify for micro
merchants
Co-invested with Founder
Collective
CashDrop
Deno
A secure runtime
for JavaScript and TypeScript
from the founder of Node.js
Dan Scholnick (New Relic,
Gatsby, Docker)
* Term sheet signed.

19. L J V E N T U R E S 19
IN THE LAST FEW MONTHS, OUR
COLLECTIVE ANGEL PORTFOLIO’S
MOMENTUM CONTINUES.
Raised at 156x
markup from
seed
Raised at 12x
angel valuation
in 2 years
$600M market cap,
~25x seed investment in
2 years. We exited 1/3
of our position locking
in an approx. 6x (at fund
level) in 2 yrs.**
* Postmates transaction not closed until Q1 2021 and is pending regulatory approval. ** Based on July 1, 2020 price. Note: Coin is quite volatile The Compound position is held in an SPV.
Sold to Uber
for $2.65B*
Went public at
$4.4B via SPAC
$16M Series A
led by Sequoia

20. L J V E N T U R E S 20
SUPPORTED BY WORLD CLASS LPS
M A R C A N D R E E S E N
Founder of Netscape and
Andreesen Horowitz
I N V E S T O R S & O P E R A T O R S
F R O M T O P B R A N D S
P E T E R T H I E L
Founder of PayPal and Founders
Fund

21. L J V E N T U R E S 21
SUMMARY OF TERMS
• Target Fund Size: $30M
• Fund Life: 10 years + 2yr option to extend
• Investment Period: 5 years
• Management Fee: Average ~2%
• Carry: 20%

22. Join us!
L J V E N T U R E S 22

23. L J V E N T U R E S
Appendix

24. L J V E N T U R E S 24
WE HAVE A HISTORY OF
GETTING GREAT ACCESS
Opportunistic investments made via SPV (no direct relationship with company).
COMPANY INITIAL
ROUND
CO-INVESTORS
/FOLLOW-ONS
LAST FUNDING
ROUND
Series A
Series B
Series B
Series C
Series C
Series D

25. L J V E N T U R E S 25
OUR VALUE ADD APPLIES TO A BROAD
RANGE OF COMPANIES