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OVERVIEW OF PULSAR VENTURE CAPITAL 5

INVESTMENT STRATEGY 7 How we invest and round sizes 9 Exits ­ Sale of Portfolio Companies 11

ADVISORY BOARD 15 CONNECTIVITY & CAPABILITIES 18 Deal­Flow and Co­Investment 18 Past Programs Metrics 22

FUND OVERVIEW 24 Investment Process 25 Criteria for the successful implementation of the Investment Process 25 Exit Strategy 26 Fund Expenses 27

ICO STRUCTURE 28

BOUNTY PROGRAM 30

Purchaser Eligibility + KYC / AML Compliance 32

RISK FACTORS 33

ANTI­MONEY LAUNDERING COMPLIANCE 42

RESTRICTIONS ON SALE OF PULSAR TOKENS 42

EXHIBIT A: Pulsar VC portfolio companies 43

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DISCLAIMER

THE PURPOSE OF THIS WHITE PAPER IS TO PRESENT THE PULSAR CROWDSALE PROJECT TO POTENTIAL TOKEN PURCHASERS IN CONNECTION WITH THE PROPOSED TOKEN LAUNCH. THE INFORMATION SET FORTH BELOW MAY NOT BE EXHAUSTIVE AND DOES NOT IMPLY ANY ELEMENTS OF A CONTRACTUAL RELATIONSHIP. ITS SOLE PURPOSE IS TO PROVIDE RELEVANT AND REASONABLE INFORMATION TO POTENTIAL TOKEN PURCHASERS IN ORDER FOR THEM TO DETERMINE WHETHER TO UNDERTAKE A THOROUGH ANALYSIS OF THE COMPANY WITH THE INTENT OF ACQUIRING PULSAR TOKENS (“PULSARS”).

NOTHING IN THIS WHITE PAPER SHALL BE DEEMED TO CONSTITUTE A PROSPECTUS OF ANY SORT OR A SOLICITATION FOR INVESTMENT, NOR DOES IT IN ANY WAY PERTAIN TO AN OFFERING OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION. THIS DOCUMENT IS NOT COMPOSED IN ACCORDANCE WITH, AND IS NOT SUBJECT TO, LAWS OR REGULATIONS OF ANY JURISDICTION WHICH ARE DESIGNED TO PROTECT INVESTORS. CERTAIN STATEMENTS, ESTIMATES, AND FINANCIAL INFORMATION CONTAINED IN THIS WHITE PAPER CONSTITUTE FORWARD­LOOKING STATEMENTS OR INFORMATION. SUCH FORWARD­LOOKING STATEMENTS OR INFORMATION INVOLVE KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES WHICH MAY CAUSE ACTUAL EVENTS OR RESULTS TO DIFFER MATERIALLY FROM THE ESTIMATES OR THE RESULTS IMPLIED OR EXPRESSED IN SUCH FORWARD­LOOKING STATEMENTS.

PURCHASE OF PULSARS INVOLVES A HIGH DEGREE OF RISK, AND PULSAR TOKEN PURCHASERS SHOULD NOT SPEND ANY FUNDS IN THIS CROWDSALE UNLESS THEY CAN AFFORD TO LOSE THEIR ENTIRE PURCHASE AMOUNT. SEE “RISK FACTORS” BELOW THAT MANAGEMENT BELIEVES PRESENT THE MOST SUBSTANTIAL RISKS TO AN INVESTOR IN THIS TOKEN CROWDSALE. IN MAKING A DECISION TO PURCHASE THE PULSARS, THE TOKEN PURCHASERS MUST RELY ON THEIR OWN EXAMINATION OF THE PROJECT AND THE TERMS THEREOF, INCLUDING THE UTILITY OF PULSARS, THE MERITS OF OWNING PULSARS AND RISKS INVOLVED.

THIS WHITE PAPER IS THE PRIMARY OFFICIAL SOURCE OF INFORMATION ABOUT THE PULSAR LAUNCH. NO PERSON HAS BEEN AUTHORIZED TO GIVE ANY INFORMATION OR MAKE ANY REPRESENTATION WITH RESPECT TO TOKEN CROWDSALE, WHICH IS NOT CONTAINED IN THIS WHITE PAPER, AND, IF GIVEN OR MADE, SUCH INFORMATION OR REPRESENTATION MUST NOT BE RELIED UPON. THE INFORMATION CONTAINED HEREIN MAY FROM TIME TO TIME BE TRANSLATED INTO LANGUAGES OTHER THAN ENGLISH OR USED IN THE COURSE OF WRITTEN OR VERBAL COMMUNICATIONS WITH EXISTING AND

PROSPECTIVE CUSTOMERS, PARTNERS, ETC. IN THE COURSE OF SUCH TRANSLATION OR COMMUNICATION SOME OF THE INFORMATION CONTAINED HEREIN MAY BE LOST, CORRUPTED, OR MISREPRESENTED. THE ACCURACY OF SUCH ALTERNATIVE COMMUNICATIONS CANNOT BE GUARANTEED. IN THE EVENT OF ANY CONFLICTS OR INCONSISTENCIES BETWEEN SUCH TRANSLATIONS AND COMMUNICATIONS AND THIS OFFICIAL

3 ENGLISH LANGUAGE WHITE PAPER, THE PROVISIONS OF THIS ENGLISH LANGUAGE WHITE PAPER SHALL PREVAIL.

THIS WHITE PAPER DOES NOT PURPORT TO BE ALL­INCLUSIVE OR CONTAIN ALL INFORMATION THAT A PROSPECTIVE TOKEN PURCHASER MAY DESIRE IN INVESTIGATING THE PROJECT. EACH TOKEN PURCHASER MUST RELY ON ITS, HIS OR HER OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THIS WHITE PAPER, INCLUDING THE MERITS AND RISKS INVOLVED IN MAKING A DECISION WITH RESPECT TO THE PURCHASE OF PULSARS. PRIOR TO MAKING A DECISION REGARDING THE PURCHASE OF PULSARS, A PROSPECTIVE PURCHASER SHOULD CAREFULLY REVIEW AND CONSIDER THIS ENTIRE WHITE PAPER.

PULSAR PURCHASERS ARE ENTITLED AND ENCOURAGED TO ASK QUESTIONS OF THE COMPANY OR ITS REPRESENTATIVES CONCERNING THE BUSINESS AND FINANCIAL CONDITION OF THE COMPANY AND THE TERMS AND CONDITIONS OF THE CROWDSALE, AND TO REQUEST SUCH DATA AS MAY BE NECESSARY TO ENABLE THEM TO MAKE AN INFORMED PURCHASE DECISION.

YOU ACKNOWLEDGE THAT YOU ARE NEITHER A CITIZEN OR PERMANENT RESIDENT OF THE REPUBLIC OF SINGAPORE, NOR DO YOU HAVE A PRIMARY RESIDENCE OR DOMICILE IN SINGAPORE. YOU ARE NEITHER A CITIZEN OR PERMANENT RESIDENT OF CANADA, NOR DO YOU HAVE A PRIMARY RESIDENCE OR DOMICILE IN CANADA. NONE OF THE OWNERS OR BENEFICIARIES OF ANY ENTITY ON BEHALF OF WHICH YOU ARE AUTHORIZED TO ACT, ARE U.S. CITIZENS OR PERMANENT RESIDENTS OF SINGAPORE OR CANADA NOR DO THEY HAVE A PRIMARY RESIDENCE OR DOMICILE IN SINGAPORE, OR CANADA. IF YOU, OR THE OWNERS OR BENEFICIARIES OF ANY ENTITY ON BEHALF OF WHICH YOUR ARE AUTHORIZED TO ACT, ARE ONE OF THE AFORESAID, YOU ARE NOT ELIGIBLE AND ARE STRICTLY PROHIBITED TO BUY PULSARS IN ANY FORM.

4 FORWARD LOOKING STATEMENTS Although forward­looking statements in this White Paper reflect the good faith judgment of management, forward­looking statements are inherently subject to known and unknown risks, business, economic and other risks and uncertainties that may cause actual results to be materially different from those discussed in these forward­looking statements. Token Purchasers are urged not to place undue reliance on these forward­looking statements, which speak only as of the date of this White Paper. We assume no obligation to update any forward­looking statements in order to reflect any event or circumstance that may arise after the date of this White Paper, other than as may be required by applicable law or regulation. Token Purchasers are urged to carefully review and consider the various disclosures made by us herein, especially in the section titled Risk Factors, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation, and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected.

Important factors that could cause actual product performance to differ materially from estimates or projections contained in the forward­looking statements include but are not limited to: ● Competitor’s response in the market. ● Changes in legislation affecting the ICO legality and markets ● Ability to control costs in general. ● General economic conditions in Europe, Asia, Russia, United States and other parts of the world. ● Continued restrictions in the credit and capital markets, which would impair our ability to access additional sources of liquidity, if needed. ● Our ability to anticipate and respond to constantly changing consumer demands. ● Our ability to attract and retain talented, highly qualified employees.

We undertake no obligation to update or revise any forward­looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable law. Because of these risks, uncertainties and assumptions, the forward­looking events discussed in this White Paper might not occur. To the extent that we use market data and industry standards in this White Paper, such information shall have been obtained from internal surveys, market research, publicly available information and industry publications. Industry publications generally state that the information they have provided has been obtained from sources believed to be reliable, but the accuracy and completeness of such information is not guaranteed.

We caution you that actual results or business conditions may differ materially from those projected or suggested in forward­looking statements as a result of various factors including, but not limited to, those described above and in the Risk Factors section of this White Paper. We cannot assure you that we have identified all the factors that create uncertainties. Moreover, new risks emerge from time to time and it is not possible for us to predict all risks, nor can we assess the impact of all risks on our business or the extent to which any risk, or combination of risks, may cause actual results to differ from those contained in any forward­looking statements. Purchasers of Pulsars should not place undue reliance on forward­looking statements.

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OVERVIEW OF PULSAR VENTURE CAPITAL

Pulsar Venture Capital (“Pulsar”) is an international early­stage venture capital fund and startup acceleration program. Our main office is located in Kazan, Russia and we maintain presence in Dublin, Ireland, Silicon Valley, California, Dubai, UAE, and Singapore.

Pulsar focuses on startups in blockchain/cryptocurrency, IT, hardware, and advanced materials. We help entrepreneurs identify business needs, pick target markets and define solutions. Our experience, international connections and broad expertise help us boost innovations, ease startup challenges and plant seeds for the next stages of product launch and market acceptance.

Our seed investments empower entrepreneurs to create innovative new businesses by coupling initial capital with access to our proven team of company builders, who help launch, iterate on products and validate markets. Pulsar seed investments will typically range from US$100,000 – US$500,000 and early stage investments will typically range from US$500,000 – US$2,000,000 million to help the business achieve its goals and scale.

Our success is likely to be based in part on our International Acceleration program that is bridging innovation and capital in global markets along with providing top notch deal flow from partners. Pulsar’s International Acceleration program has attracted the interests of TechStars, 500 Startups, JFDI, GEC, NDRC, YCombinator, IIDF, Vertical VC; it also has been rated #1 in Russia in 2016 by UBI Global and has been running for over 4 years. In Europe we run a TechTour (w ww.techtour.com) and work with leading European, US and Asian investors such as Y Combinator, 500 Startups, Google Ventures, Andreessen Horowitz, Data Collective, Silicon Valley

6 Angels, TEC Ventures, EndeavorVision, The Guinness Enterprise Center, NDRC, Vertical VC, Golden Gate Ventures, Silicon Valley Partners, Garage Ventures. Pavel Korolev, our Founding Partner, is currently the President of Russian TechTour. Along with traditional venture capital investors, we also work closely with corporate venture capital such as Sberbank, Tatneft, Rostelecom, ICL, and others. Over the last few years the program has seen over 1,200 applicants, over 110 alumni including 29 portfolio companies.

We helped our alumni to raise over $12M, from leading global venture funds, in a short time after acceleration programs. Some of our portfolio companies, such as Vango Art, Pinscreen, AgFunder, ChannelMeter, Pipeline DB, Vyng, TryFit, Agelon, Agroinnovations have raised funds from international institutional investors.

We have a robust presence in Europe and UK through our office in Dublin, Ireland. Our current partners in Ireland include Enterprise Ireland, Guinness Enterprise Centre, NDRC, DCU Ryan Academy, amongst others. In 2016­2017 we hosted parts of our acceleration program in Dublin, jointly with Guinness Enterprise Center. We plan on continuing this cooperation in the upcoming years. We also maintain a significant presence in Silicon Valley, where we are proud to sponsor the leading VC/Startup conferences, such as Global Technology Symposium, Silicon Valley Open Doors and TechCrunch.

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INVESTMENT STRATEGY

Pulsar invests in companies that leverage the power of data to create new market­leading platforms, tools, and analytics that are inherently disruptive and have network effect. We source the deal­flow from our acceleration program and partners network. The goal for our acceleration program participants is to access the global market, raise funding, and find a strategic partners within 180 days program.

We focus on the companies that are in need of early stage funding. We target 25% and higher annual returns for the portfolio. Pulsar’s target holding period is 2­5 years for companies in its portfolio.

Thanks to our advisors and business analysts who follow the global market trends and innovation, we are able to predict which startups from Eastern Europe will have the highest potential of growth in the next 3­5 years and choose to work with them.

http://www.gartner.com/smarterwithgartner/gartner­top­10­strategic­technology­trends­for­2018/

8 We see the most potential in B2B (or B2B2C) products and focus our acceleration program and investments accordingly.

Aspect B2B B2C Market Focused, narrow, vertical Wide, diverse Buying process Couple of months From couple of minutes to days Selling process Consultative, based on relationship and Transactional, based on retail trust Production costs Higher price, from a few thousand to Mainly from a few dollars to a couple millions thousand Decision making Rational, depends on needs and budget Often emotional, based on wants and not needs Brand Value Brand identification is formed by Brand identification is formed by mass relationships marketing and social networks Consumption High due to higher prices, with higher Lower due to lower prices and less value with likelihood of repeated and additional sales frequent repeat sales life­cycle

Our investment model differs from that of what we call the “OLD” investment model approach. Our model of the “Lean Investor” begins with a large number of small investments, provides resources to speed up the process of entering the market, filters out failed startups, and increases the amount of investment in the winners through the seed and early stage rounds.

OLD model of Venture Capital Pulsar’s model for Venture Capital

Typical Early Stage Approach Quantitative Portfolio Approach Invests US$1­5M per deal Invests US$100K­2M per deal Total Portfolio Size: Total Portfolio Size: 10‑15 companies 25+ companies

• Outsized Risk, Low Return Potential • Controlled Risk, Outsized Return Potential • Narrow funnel makes it difficult to predict • Diversity of high volume investing still allows winners; best VCs still making bad bets. for a high error rate. • Need to create several large winners ($500M + • Non performers determined quickly ‑ lack of to return capital); majority of deals are funding facilitates quick write‑off with low write‑offs, low value deals or living dead. principal loss. • Acquirers often turned off on possible targets • Sell positions to acquirers, downstream after VC funding due to ‘price premium’. investors or secondary buyers. • Takes a long time: 5 years to deploy capital; 5 • Fund IRR quickly positive with smaller, early years to exit and still need fund extensions. exits and promising deals getting funded.

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How we invest and round sizes

Seed Early Stage $100K – $1M $500K – $2M

Minimal Viable Product Product development Business Model Sales and marketing Validation of the market opportunity Market Fit

Pulsar’s planned investment strategy will allocate funds between Blockchain/Cryptocurrency, IT, Hardware and Advanced Materials in a total of up to 30 investments. We plan on the following investment allocation schedule:

1 0 Pulsar VC Current Portfolio Companies

Our past investment experience includes 29 startup companies based in Russia, Ireland, and USA that either went through our International Acceleration program or received direct seed investments from Pulsar VC.

For detailed information about the portfolio companies, please review Exhibit A to this White Paper or ICO website h ttps://pulsarico.com

Purchase Share Current Capital Time period, round round asset Company Invested Year of IRR valuation valuation value $K Investment $M % $M 1 Pinscreen Inc 10 5.0 0.2% 2016 51 1020% 2 AgFunder 50 6.5 0.8% 2016 20 308% 3 EnergoLesProm 30 1.5 2.0% 2015 15 1000% 4 PipelineDB 50 10 0.5% 2015 15 150% 5 Channel Metter 50 6.0 0.8% 2014 10 167% 6 Vango 50 4.5 1.1% 2014 8 178% 7 Vyng 25 4 0.6% 2015 8 200% 8 Collectly 30 6.0 0.5% 2017 7.5 125% 9 Desk4Work 115 0.7 15.0% 2017 6 850% 10 A.A.C. Polymers 100 0.5 20.0% 2016 5 1000% 11 Ratelsys 60 0.3 20.0% 2017 3.5 1167% 12 GetCoder 100 0.5 20.0% 2016 2.5 500% 13 TryFit 115 1.2 10.0% 2016 2.5 208% 14 Mouse 115 0.6 15.0% 2017 2.5 417% 15 SmartClick 110 0.7 15.0% 2017 2.5 357% 16 Agelon 90 1.8 5.0% 2016 2.3 125% 17 MagicTab 45 0.45 10.0% 2014 2 667% 18 R­Visioneer 115 0.6 20.0% 2016 2 333% 19 TRiZAXE 80 0.8 10.0% 2016 2 250% 20 Agroinnovations 80 0.4 20.0% 2017 2 500% 21 Thermoabrasive Group 60 0.3 20.0% 2017 2 667% 22 Albiotech 85 0.85 10.0% 2016 1.9 223% 23 Flowito 60 0.24 25.0% 2017 1.7 708% 24 Capsule 65 0.3 20.0% 2017 1.5 500% 25 RegFM 70 0.6 8.0% 2017 1.5 250% 26 BeTrip! 60 0.2 30.0% 2017 1.2 600% 27 10 tracks 30 0.3 10.0% 2013 1 350% 28 Vendy 45 0.45 10.0% 2014 1 225% 29 SkiLine 41 0.4 10.0% 2017 0.8 200% 1 926 56.19 4 years 181.90 456% (total) (total) (total) (4.56x)

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Exits ­ Sale of Portfolio Companies Over the years Pulsar built a very strong network of M&A partners globally (strategic corporations and enterprises) who are looking for new technologies and talent to expand their corporate offerings. Pulsar is working closely with the innovation teams and corporate development to learn about their needs and gaps, sources the right investments in startups that will be a fit to be acquired in a short term. Insider knowledge and strong relationships allow Pulsar to strategically invest and exit earlier than other VCs.

Some of our notable past exits:

In case of MagicTab company, CityAds (strategic investor) bought part of Pulsar VC shares. We expect multiple exits starting from the beginning of 2018 and repurchase of Pulsar Tokens on the market.

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MANAGEMENT TEAM Our management team consists of highly skilled and experienced professionals. Our team brings years of experience and expertise into each startup’s success. We know what it takes to build great companies from startups!

Pavel Korolev Managing Partner, Founder Russia / Ireland / USA

Leader and founding partner of Pulsar Venture Capital with experience of creating numerous fast­growing companies. His activities are aimed at investing in companies, consulting entrepreneurs, supporting the development of portfolio companies and building relationships with participants in the global innovation infrastructure, development institutions. Pavel also served as Adviser to the Head of the Investment and Venture Fund of the Republic of Tatarstan (IVFRT), as well as in the position of Head of Venture Financing. Pavel received a Master’s degree in Electrical Engineering from the Kazan State Technical University, and attended the MIT Sloan's Global Executive Academy.

Leonard Grayver Partner USA

Leonard has represented venture capital funds, entrepreneurs, and startup companies in diverse industries, including medical devices, software, health care, electronics, IT, and alternative energy, for more than 15 years. He has varied experience with VC financings, fund structuring, due diligence (representing both management and investors, etc. Mr. Grayver regularly advises general and limited partners on fund structures, latest industry standards on business terms, and emerging issues. Mr. Grayver writes and lectures frequently on private equity, corporate, and technology licensing issues. He has authored a definitive Russian­language guide to venture capital financings. Leonard earned a B.A. from University of California Los Angeles, and a J.D. from UCLA School of Law.

Alexander Savchenkov Partner Russia / Ireland

Founder and CEO at Cityads Media. Founded by industry professionals with serial entrepreneurship successes and mastery in Smart traffic technology with solid understanding of carrier market trends and network monitoring technologies. Alexander was a co­founder of venture capital fund ­ The New Technologies Venture Capital Fund with US $130 million capital under management. Alexander is an experienced investment professional with Board­level participations spanning multiple environments ranging from start­up companies to multinational corporates.

1 3 Yuri Rabinovich Partner USA

Yuri Rabinovich is an entrepreneur and investor, Founder at StartupMonthly Accelerator in Silicon Valley and Managing Partner at MonthlyVentures seed fund. In 2014 Yuri launched VERITAMO, a global marketplace and platform for high­end travel and hospitality. In 2011 Yuri founded StartupSocials community for entrepreneurs that quickly grew to 100K+ members and produced 300+ education and social events for the startup community globally. Yuri mentored hundreds of startups on their business model and strategy. Yuri holds MSc. and BSc in Information Systems from The Technion (Israel Institute of Technology), Israel.

Dmitry Shaposhnikov Investment Director, Head Acceleration Program Russia

Dmitry Shaposhnikov is an expert in the field of project management, innovation and search of new engineering decisions. Since 2008 Dmitry has worked as an expert in the fields of oil recovery, crude oil refining, petrochemicals and chemical engineering. From 2008 until 2011 he created and managed the system of innovative infrastructure governance of Kazan ( Volga region) Federal University (“KFU”). He also coordinated attracting investment of more that 2 billion rubles for scientific and innovation of the KFU projects and 35 small innovative enterprises. He is a former deputy manager of the Advanced Development Department at Investment and Venture Fund of the Republic of Tatarstan. Between 2013 and 2016 he acted as an Advisor to the Chair of KFU for cooperation with large companies and public corporations. He has organized effective collaboration with world leaders in radio electronics, global logistics, business informatics, IoT and petrochemicals.

Sergei Mitrofanov Investment Director, Portfolio Business Development and Branding Russia / Ireland / USA

Sergei Mitrofanov serves as a Deputy Director at Pulsar Venture Capital. Sergei has over 25 years of marketing strategy experience and is widely recognized for his pioneering new communication approaches and technologies in the development of brands and businesses covering retail, banking, FMCG and education sectors. Sergei is also a Partner at BRANDFLIGHT AB from 2010, where he served as the Managing Director for Russia & CIS from 2004 to 2009. In addition, Sergei is a member of the Medinge Group international branding think tank (www.medinge.org), where he served as a Board Director. Sergei has also been involved in corporate branding for such companies as Velle Oats, Atlant­M Cars, MONE Beauty, Inmarko (Unilever Ice Cream division), ECONIKA Women Footwear, GPC Drag Stores, Reikartz Hotels, MDM Bank, Urals Federal University, Ulmart Cybermarket, First BIT, and others. His destination­branding portfolio includes cities of Tbilisi, Batumi, St Petersburg, Tula, Macedonia Social Media hub, etc. Sergei earned an MBA from the Stockholm School of Economics, M.Eng. in Hydrodynamics from the Military Maritime Engineering Academy and B.A. in Economics from St. Petersburg State University.

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Ilia Karas Investment Director, Portfolio product development USA / Ireland

Ilia Karas brings unique engineering, business and product management background with entrepreneurial determination. He is a recognized problem­solver, providing vision, strategy and execution using effective and thoughtful decision making. Ilia currently leads product teams in designing, developing and managing Capital One’s flagship mobile apps (Android and iOS) for U.S. 9th largest bank. Ilia holds a B.A. in Finance and Information Systems from the University of Maryland.

Gadir Shiraliyev Investment Director, IR & Corporate Relationships UAE / USA

Gadir Shiraliyev has been the COO of Alba Commodities GmbH. since 2013. Alba Commodities has extensive experience in real estate development, production of construction materials, commodities trading, service of oil and gas industry, supply of medical equipment, and food and beverage industry in the FSU, Turkey, Middle East and Africa. At Alba Commodities, he was responsible for ensuring suitable operations management, implementation of strategic goals, and shaping the future of the business operations. Gadir brings experience and insights that will help Pulsar Venture Capital to advance its interests and shape the innovation ecosystem in the Middle East and FSU. Gadir graduated from Georgetown University, Edmund A. Walsh School of Foreign Service with an M.A. degree in Eurasian, Russian and East European Studies. Gadir holds a bachelor's degree in International Affairs: Middle Eastern Studies from the George Washington University.

Ivan Drobyshev Head of PR and Marketing Russia / Ireland

Ivan Drobyshev is an experienced PR manager. Ivan has worked for clients such as Symantec, Oracle, Citibank, and also supported startup competitions III and IV Russian Tech Tours and Generation S. Ivan holds a Masters degree in Public Relations from the Russian State University for the Humanities.

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ADVISORY BOARD

Igor Agamirzian Marvin Liao Ph.D. HSE, Moscow, Russia 500 Startups, SV, USA From 2009 until recently, Igor has served as the Marvin is a Partner at 500 Startups where he runs the Chief Executive Officer of the Russian Venture San Francisco based startup accelerator program Company (RVC), a half a billion dollar fund of funds. and venture capital fund. He Invests in Digital Media, Igor is currently a member of the Presidential Enterprise SAAS, Marketplace, Mobile, Commission for Modernization and Technological AdTech/MarketingTech, Digital Health, Internet of Development of the Russian Economy (MER) and Things & Fintech startups. Vice­President, Higher School of Economics (Moscow).

Bill Reichert Alexandra Johnson Garage Ventures, SV, USA Global Technology Symposium, Partner at Garage Ventures. Since joining Garage SV, USA Ventures in 1998, Bill has focused on early­stage For the last ten years, Alexandra has served as the information technology and materials science managing partner at DFJ Aurora venture capital fund. companies. He has been a board director or board She is also the founder and president of Global observer at CaseStack, WhiteHat Security, Technology Symposium, an annual three day Silicon ClearFuels Technology, Simply Hired, MiaSole, Valley technology/VC conference. Alexandra holds an D.light Design, ThermoCeramix, and VisaNow, MBA from University of California Berkeley. among others.

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Paolo Borella Jeffrey Paine Vertical, Helsinki, Finland Golden Gate Ventures, Singapore CEO & Co­founder of Vertical, where he heads the Entrepreneur and venture capitalist. He is a General acceleration program. Paolo has been involved in Partner at Golden Gate Ventures, an early stage seed business acceleration and startups for several years; fund for startups in Southeast Asia with strong ties to as Director of AppCampus the Aalto Silicon Valley. He also serves as the director of The University­Microsoft­Nokia program with a 21M EUR Founder Institute, global network of startups and fund he helped accelerate the Windows Phone mentors that helps entrepreneurs launch great ecosystem across the world. His previous work technology companies around the globe. included running a 7 million people, 10M EUR/year online community as a Vice President at Fox Mobile Distribution in Germany.

Eamonn Sayers Jordan Wahbe GEC, Dublin, Ireland Bay Angels, SV, USA Eamonn is a principal at the Dublin Business Jordan is managing partner, and run day to day Innovation Centre, where he has very successfully operations, and co­lead investment and strategy for managed and promoted the Guinness Enterprise Bay Angels, a leading angel group in Silicon Valley. Centre which is home to over 80 start­ups employing His 20+ years of experience includes hands­on work, over 320 people. Eamonn is also the founder of and leadership in high­demand, fast­paced, or World Sports Team which provides support to sports structured environments in engineering, business, people who suffer catastrophic injury in sport SW development, IT, Hi­Tech, Big Data/Analytics, IoT, Smart Home, and manufacturing

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Yinchao (Bril) Wang Voytek Siewierski Cardinal Pitch Club, China, USA Silicon Valley Venture Partners, Poland, USA Bril is the founder of the Silicon Valley and Voytek is the managing partner at Silicon Valley China­based Cardinal Pitch Club, which offers Venture Partners. Previously, he was the general multiple pitching channels for early stage startups. It partner at Rogers Venture Partners and prior to that devotes pitch coaching, investment network he was an Executive Director at NTT DoCoMo, expanding, and community building. Bril received a spending 6 years in Japan and 3 years in the UK. Master’s Degree in Engineering from Stanford Voytek played a key role in planning and University and a B.A. from Zhejiang University in implementing NTT DoCoMo’s Silicon Valley­based China. VC Fund – DoCoMo Capital.

Dmitry Mozhaev

FinstarLabs, Moscow, Russia Dmitry is the VP of Marketing/AdTech at Finstar Group, one of the largest private investment groups in Russia with assets over USD 2 bln. He has over 17 years of unique management experience in the IT, media and advertising industries and a successful experience of introduction and development of Internet technologies. For the last twelve years, he occupied senior executive positions in DNA Media, JV Media Group, IAB Russia, and Rambler Media Group. Dmitry holds a Master’s Degree in Theoretical Physics from the Ural State Technical University.

1 8 CONNECTIVITY & CAPABILITIES Deal­Flow and Co­Investment Pulsar Venture Capital takes a multi­pronged approach to sourcing deal flow. Not only do we rely on our outstanding startup acceleration program, we also co­invest with some of the world leaders in venture funding in early stages and have access to outstanding deal flow of most disruptive companies.

Silicon Valley Asia Europe

Eastern Europe & CIS

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We attract leading funds and corporate venture capital to co­invest in our portfolio companies and help them scale their offering to new markets leveraging strategic partners, funding and relationships to increase the chances for success.

We have adopted what we call a “Best­Of­Class Deal Flow Pipeline” that can be seen below. It is broader than the traditional sourcing options such as global VC funds use and it includes not only the VC partners referrals but various established referral channels:

Pulsar VC Pipeline ­ Student Groups ­ Research Labs ­ Universities & Colleges ­ Shared working spaces ­ Conferences and Events Startup Corporate Ecosystem ­ New products ­ Incubators ­ Spinoffs ­ Accelerators ­ Corporate ­ Angel Groups Development ­ VCs ­Innovation Labs

Network ­ Partners ­ PVC Alumni ­ Advisors ­ Mentors

2 0 ACCELERATION PROGRAM Our key asset in sourcing early stage deal flow and developing our portfolio companies into successful companies is our own International Acceleration program. The program is bridging innovation, expertise, advisors and venture capital in global markets. The program provides, top notch companies from Eastern Europe, seed funding and extensive support with business development from industry experts, mentors, advisors and investors.

Pulsar’s acceleration program not only targets new entrants into the market, but it serves as a development tool for our own portfolio companies. We put a great deal of thought and strategy into a multifaceted program that not only uses the classical “bootcamp” approach to acceleration but also our “individual” approach to each company. The individual approach is used as a development tool for companies and the acceleration program is adapted towards the specific needs of each company. We pride ourselves in having world class leaders such as Carl Power (NDRC), Eamonn Sayers (Dublin Business Innovation Centre), Bill Reichert (Garage Technology Ventures), Sven Lingjaerde (EndeavourVision), Paolo Borella (Vertical), Marvin Liao (500), amongst others, be part of our experts and mentors team.

2 1 The acceleration program is split into 5 complementary blocks: Step 1 ­ Selection Step 2 ­ Business Engineering

Collection of applications, due diligence with the Preparation of companies for the commercialization, involvement of international experts, presentation of market research, advising on business model, promising companies before the international developing a strategy for protecting intellectual committee in English, selection of the attendees. property, developing brand and identity, assisting in the preparation of investment materials

Step 3 ­ Bootcamp in Russia Step 4 ­ Bootcamp in Ireland

Training session with the involvement of leading 2 week training session in Dublin with leading domestic mentors and experts in building the mentors and experts in launching international strategy for accelerated business development, business, group and individual meetings with registration / re­registration of participating potential investors, customers, strategic and companies, development of road maps and strategy scientific partners

Demo Days

Demo days and individual meetings with international investors and business angels in Dublin, Silicon Valley, Moscow, Kazan to raise funds

We work with every team in the program to develop their startup ideas and create viable businesses. We help them hire employees, put in a leading management team and ultimately put them in front of potential investors and guide them through raising capital. We have raised over $12M, from leading global venture funds, for our alumni in a short time after their accelerator participation.

The acceleration program has grown from one country to over fifteen in the last two years (origin of applicants). In 2016 and 2017 we hosted a 2 week bootcamp session with our partners Guinness Enterprise Centre in Dublin, Ireland as part of the acceleration program.

In 2018 we plan to repeat and expand our collaboration in Ireland by hosting bootcamps and demo days to help build successful companies in the region by bringing together innovation and local business community.

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Past Programs Metrics

Some of the recent success stories of the 2016 acceleration program include:

Tryfit ­ 3D fitting footwear platform for all types of the shopper’s formal, casual and athletic activities. Launched pilot product and led them to raise funding from A didas, Ecco, and Ekonika. $1.5M.

Agelon ­ on line investigations service based on automated targeting, verification and surveying respondents in social networks. Launched in Europe, US, and Russia.

GetCoder ­ SaaS platform for searching, evaluation, and ranking of software developers. Launched pilot product and led them to raise $ 450K f rom S berbank and Superjob.

R­Visioneer/Easy2See ­ digital platform for stereo vision and reconstruction of the environment for robotic platforms for various purposes. Secured sales and led them to raise $ 500k f rom L ego, Kamaz, and others.

A.A.C. Polymers ­ designing and manufacturing products from heat­conductive polymer composites. Led them to raise $ 500K fr om N ational Lighting and NT­MDT, with a planned product launch in 2019.

Albiotech ­ a process to create bio­proteins from methane (in R&D stage). Led them to raise $ 1.3M.

2 3

2 4

FUND OVERVIEW

General Fund Information Jurisdiction

Planned fund size: US$ 30M Isle of Man

Lifecycle of the fund: 5 years

Proposed number of 25­30 Geography of operation portfolio companies Europe, USA, Russia, Asia Fee Structure: Management Fee 3% Carry 25%

Anticipated IRR 25­30%

Investment sectors Investment strategy

IT 30% B2B/B2B2C Blockchain/Cryptocurrency 30% 1. Seed / Seed+ ­ $100K ­ $1M Hardware 20% 2. Round A ­ $500K ­ $2M Industrial 20%

2 5 Investment Process

Search and Select Due­Diligence Closing

Analysis and selection Investment Detailed check Investment Deal of projects Committee Committee Selection of a project in Deal review by Full Due­Diligence Review of the Amendments to the accordance with investment committee ­ Product Investment Charter and other legal investment criteria ­ Technology Memorandum of documents of the Most votes ­> ­ Market projects by the company Identification of major Due Diligence ­ Management Investment Committee parameters of the ­ Legal aspects Most votes ­> Assigning partner from transaction ­ Finance Decision to invest Management Team ­ Business plan Evaluation by industry ­ Risks Consultation with Membership in the experts ­ Projections lawyers on the Board of Directors transaction

The Managing Partner The Managing Partner The Managing Partner The Managing Partner The fund invests makes the decision to decides on referral for prepares an investment decides to proceed and supports transfer the project to an expert examination memorandum and makes with the the company the Investment a request to the execution of the deal Committee Investment Committee

Criteria for the successful implementation of the Investment Process

To reach the set goals, fund team will be deeply involved in constant monitoring and management of the fund’s investments during the lifetime of the investment.

We believe that the main criteria for the successful implementation of the investment process are: ● Orientation of the company to the global market. Competitiveness in the global market with its products or services. ● Availability of a ready­made sample or pilot technology for implementation or organization of production and sales ● The availability of professional managers, consultants and best talent in the portfolio companies ● Implementation of GAAP/IFRS, the company's accounting and management accounting system (day­to­day operations) ● Implementation of the management system with management control through quarterly reports in order to achieve the planned indicators of the business plan, goals, objectives and stage. ● Monitoring tools and strict target for use of funds ● Preparation of the company for financing or sale to a strategic investor

2 6

Exit Strategy Our exit strategy relies not only on strategic investors/buyers but also on traditional VC firms that will invest at higher valuations.

2 7

Fund Expenses

The annual management fee of 3% will be used to cover the costs of the Fund management and the Acceleration programs: team salaries, operations, legal and accounting.

2 8

ICO STRUCTURE

The Fund Pulsar Venture Capital Limited, a limited company organized under the laws of Isle of Man

Tokens Issued Pulsar VC Tokens (“Pulsars”) will be offered for sale; issued on Ethereum blockchain

ICO Cap US$30,000,000

Start of ICO 30 October, 2017 at 6:00 AM P T

Duration of ICO Thirty days after the start of the ICO

Minimum Contribution 1 ETH or its equivalent in other means

Contributions accepted BTC and ETH

Preliminary token price for ICO 1 Pulsar = US$1.00

Bonus Staging Bonuses will decrease progressively from 15% to 0%, as follows:

1 5% ­ Day 1 10% ­ Day 2 5% ­ Week 1 3% ­ Week 2

Token Allocation $1,750,000 (or its equivalent in altcoins) will be distributed to the previous investors/team members for a 50% interest in the existing 29 portfolio companies.

The remaining proceeds from the Pulsars will be allocated as

follows:

8 0% ­ P ortfolio investments 15% ­ Operational expenses, including management fees 5% ­ ICO related expenses, including bounty payments

Token Buyback Within sixty days of each disposition of a Portfolio investment or

receipt of any dividend distribution from a Portfolio investment that

is an existing Portfolio Company, (the “Existing Portfolio Proceeds”), the Fund will apply 50% of the Existing Portfolio Proceeds to the buyback of Pulsars at the then current market price and distribute the other 50% of the Existing Portfolio Proceeds to the previous investors.

2 9

Within sixty days of each disposition of a Portfolio investment or receipt of any dividend distribution from a Portfolio investment that is not an existing Portfolio Company, (the “New Portfolio

Proceeds”), the Fund will first apply 75% of the New Portfolio

Proceeds to the buyback of the Pulsars at the then current market price and retain 25% as its success fee (“Success Fee”).

Clawback In the event that upon termination of the life of the Fund, the aggregate Success Fee exceeds 25% of the net profit of the Fund, the Fund will apply the excess Success Fee to the buyback of the Pulsars.

3 0

BOUNTY PROGRAM Pulsar VC Bounty Campaign is going to be launched on October, 9th and will last until November, 30th. Participants will be paid with Pulsar Bounty tokens at the end of the Bounty Campaign. Each participant’s bounty count will be calculated according to the total number of tokens gained by following the bounty terms. Please note that calculating all participants' tokens may take to a several business days after ending of the token sale.

Social Media Bounty Budget is 40,000 tokens will be allocated to this for Social Media Bounty program. Terms: ● Add social media information (email, Facebook URL, Twitter, LinkedIn, YouTube) to following google forms: 1. Facebook: h ttp://bit.ly/2xTAaqg 2. Twitter: h ttp://bit.ly/2xguZ4n 3. Youtube: h ttp://bit.ly/2xTLKSk ● Have at least 500 friends or followers; ● Set your Facebook, Twitter, YouTube accounts’ privacy settings public; ● Follow "Pulsar Venture Capital" Official accounts on Facebook, Twitter, Telegram, Slack or Medium; ● For Facebook and Twitter accounts: Like & Share posts and media content at least 1 time a week using all the hashtags: #TokenSale, #Ethereum, #PulsarVC #PulsarICO. If you miss 1 week of participation, you won’t get tokens for that time period; ● For YouTube blogs: add one Ad integration on your youtube channel: the information about Pulsar ICO and your attitude to that; ● Activity in each one of the social network will give you 25 tokens per week. ● Check your status in the spreadsheet: h ttp://bit.ly/2yJZcFi

To receive bounty, each person must participate till the end of token sale period. Multiple accounts registrations in a single social network are not allowed and will be banned.

Bitcointalk Signatures Bounty Budget is 40,000 tokens to be allocated to this bounty. Terms: ● We are looking for active bitcointalk users. All members need to post at least 50 posts having the Pulsar VC signature by the time the Token sale ends to be eligible for a reward; ● Users with negative trust are not eligible for the bounty campaign; ● Posts in the alternate cryptocurrencies section are required; ● Spam is strictly prohibited. Users found spamming will be immediately and permanently disqualified, reported to the moderators, and banned from any other bounty campaign; ● Using multiple signatures at the same time is prohibited; ● Users are not allowed to change their signature in the middle of the campaign. Bounty: 1. Member: 60 tokens / week 2. Full Member: 70 tokens / week 3. Senior Member: 80 tokens / week

3 1 4. Heroic Member: 90 tokens / week 5. Legendary Member: 100 tokens/ week Signature campaign instructions: 1. Add the Pulsar VC signature campaign bb­code matching your account rank to the signature field of your Bitcointalk profile. 2. Fill this form to participate in the Pulsar VC signature bounty campaign: h ttp://bit.ly/2xVpcyr 3. Check the status of your signature campaign application here: "Signature campaign participants list" 4. Make at least 10 quality posts in a week. 5. Check your status in the spreadsheet: h ttp://bit.ly/2fRJ2G7

Blogging Bounty Budget is 40,000 tokens All Bounty Program participants may earn additional tokens by writing and publishing an article/review or create a video about Pulsar VC or Portfolio companies with mentioning ICO. Submit your articles at http://bit.ly/2y7nhYY. Tokens are calculated depending on the blog main topic accordingly: ● blogs about Cryptocurrencies and Token Sales – 30 tokens; ● blogs about Blockchain Technologies – 20 tokens; ● blogs about Economics and Finances – 30 tokens; ● other and aggregator blogs – 10 tokens. Terms: ● your text or video must be original; ● article text must contain at least 500 word and video must be at least 2 minutes long; ● your text or video must include links to Pulsar VC Token Sale and/or to the relevant bitcointalk topic; website where the article or video will be published should have at least 5,000 visitors per month; ● Accepted languages: English, Spanish, German, French, Russian, Chinese, Japanese, Indonesian, Korean, Hindi; All articles and videos will be reviewed by Pulsar VC support team, which means that some of them might be rejected. Bad quality articles and videos will be declined from the campaign.

3 2

Purchaser Eligibility + KYC / AML Compliance

Pulsar VC is restricting the sale of its tokens to citizens and residents of the United States (unless they are certified “accredited investors” within the meaning of the Securities Act of 1933), Singapore and Canada.

Pulsar VC has consulted with its legal advisors and shall conduct its token sale in full compliance of know your customer (“KYC”) rules and regulations across jurisdictions of its sale. Pulsar VC collects and stores personal information of the purchasers of Pulsars as well as verifies the identity of purchasers. In addition, Pulsar VC complies with anti­money laundering (“AML”) rules and regulations worldwide and screens token purchasers in accordance with a formal AML policy (the “Pulsar VC AML Policy”) that has been approved by the Board of Directors of Pulsar Venture Capital Limited. You may view the Pulsar VC AML Policy at https://pulsarico.com/AMLPolicy.pdf

3 3

RISK FACTORS

An investment in the Fund involves a high degree of risk, and is suitable only for investors of substantial means who have no immediate need for liquidity of the amount invested and who can afford a risk of loss of all or a substantial part of such investment. References herein to “the Fund,” “we,” “our,” “us” and like terms include, as the context may require, the Fund, the Management Team, or the Management Team.

In addition to factors set forth elsewhere in this memorandum, prospective investors should carefully consider the following.

RISKS RELATED TO THE FUND’S BUSINESS

The Fund is a recently formed entity with no operating history.

The Fund is a recently formed entity with no operating history. As a result of the lack of operating history, investors have limited information upon which to base an investment decision, and there is no assurance that the Fund will achieve its stated objectives and business plan.

Although the Fund’s Management Team collectively has considerable experience in capital markets transactions and the launch and management of new initiatives, it has no experience with the management of funds similar to the Fund. The past performance of investments undertaken by the Management Team, directly or indirectly, is not necessarily indicative of the future results of the Fund’s investments. Notwithstanding the past performance of these projects, on any given investment, the Fund may incur substantial losses.

Risk inherent in venture capital investments

The types of investments that the Fund anticipates making involve a high degree of risk. In general, financial and operating risks confronting portfolio companies can be significant. While targeted returns should reflect the perceived level of risk in any investment situation, there can be no assurance that the Fund will be adequately compensated for risks taken. A loss of an investor’s entire principal is possible. The timing of profit realization is highly uncertain. Losses are likely to occur early in the Fund’s life, while successes often require a long maturation. Early­stage and development stage companies often experience unexpected problems in the areas of product development, manufacturing, marketing, financing, and general management, which, in some cases, cannot be adequately solved. In addition, such companies may require substantial amounts of financing which may not be available through institutional private placements or the public markets. The percentage of companies that survive and prosper can be small. Investments in more mature companies in the expansion or profitable stage involve substantial risks. Such companies typically have obtained capital in the form of debt and/or equity to expand rapidly, reorganize operations, acquire other businesses, or develop new products and markets. These activities by definition involve a significant amount of change in a company and could give rise to significant problems in sales, manufacturing, and general management of these activities.

Investment in companies dependent upon new scientific developments and technologies

3 4

The Fund plans to invest primarily in technology­related companies. The specific risks faced by technology companies include:

● Rapidly changing science and technologies; ● Products or technologies that may quickly become obsolete; ● Scarcity of management, technical, scientific, research and marketing personnel with appropriate training; ● The possibility of lawsuits related to patents and intellectual property; and ● Rapidly changing investor sentiments and preferences with regard to technology sector investments (which are generally perceived as risky).

The Fund is dependent upon the Management Team for its future success.

The Fund depends on the diligence, skill and network of business contacts of the Management Team. For a description of the Management Team, see the description of the management team, above. The Management Team will be responsible for evaluating, negotiating, structuring, closing and monitoring the Fund’s Portfolio Investments. The Fund’s future success will depend on the continued service of the members of the Management Team. The departure of any of the members of the Management Team of the Management Team could have a material adverse effect on the Fund’s ability to achieve its investment objectives.

The Fund’s financial condition and results of operation will depend on its ability to manage future growth effectively.

The Fund’s ability to achieve its investment objective will depend on its ability to grow; which will depend, in turn, on the Management Team’s ability to identify and invest in assets that meet the Fund’s investment criteria. Any failure to manage the Fund’s future growth effectively could have a material adverse effect on the Fund’s business, financial condition and results of operations.

The Fund operates in a highly competitive market for investment opportunities.

A number of entities will compete with the Fund to make the types of investments that the Fund plans to make. The Fund will compete with other public and private funds; commercial and investment banks, private and public finance companies, and a number of other investors. Many of the Fund’s competitors are substantially larger and have considerably greater financial, technical and marketing resources than the Fund. Some competitors may have a lower cost of funds and access to funding sources that are not available the Fund. In addition, some of the Fund’s competitors may have higher risk tolerances or different risk assessments, which could allow them to consider a wider variety of investments and establishment relationships than the Fund. The Fund cannot assure you that the competitive pressures we face will not have a material adverse effect on the Fund’s business financial condition and results of operations. Also, as a result of this competition, the Fund may not be able to take advantage of attractive investment opportunities from time to time, and the Fund can offer no assurance that the Fund will be able to identify and make investments that are consistent with the Fund’s investment objective.

Minority Investments

3 5 The vast majority of the Fund’s investments are expected to be minority stakes in privately held companies. In addition, during the process of exiting investments, the Fund is highly likely to hold minority equity stakes if portfolio holdings are taken public. As is the case with minority holdings in general, such minority stakes that the Fund may hold will have neither the control characteristics of majority stakes nor the valuation premiums accorded majority or controlling stakes.

No assurance of additional capital for investments

After the Fund has financed a company, continued development and marketing of products may require that additional financing be provided. In particular, technology companies – in which the Fund expects to invest – have substantial capital needs that are typically funded over several stages of investment. No assurance can be made that such additional financing will be available and no assurance can be made as to the terms upon which such financing may be obtained. Alternatively, the Fund, either directly or through one of its Portfolio investments, may elect to sell developed or undeveloped technology to existing companies. No assurance can be made that buyers for such technology can be located.

A prolonged economic downturn or recession would adversely affect the Fund’s financial results.

The economies of the various jurisdictions in which the Fund may invest have undergone in the past and may, in the future, undergo a period of economic slowdown. An economic downturn or a recession may have a significant adverse impact on the Fund’s operations and the Fund’s financial condition because it could negatively affect the value of businesses underlying the Fund’s Portfolio investments.

RISKS RELATED TO THE FUND

The Management Team has not yet identified all investments that will be made by the Fund.

As of the date of this Memorandum, the Fund’s investments have not been fully identified. Investors will be relying on the ability of the Management Team to identify and evaluate the investments to be made by the Fund. Because such investments may occur over a substantial period of time, the Fund faces the risks of changes in valuations and the capital markets. Even if the investments of the Fund are successful, the returns may not be realized by the Partner for a period of several years.

The Management Team could have difficulty identifying, negotiating and closing suitable investments.

Although the Management Team has been successful in identifying suitable investments in the past, the Fund may be unable to find a sufficient number of attractive opportunities to meet its investment objectives. The success of the Fund will depend on the ability of the Management Team and its Management Team to identify suitable investments, to negotiate and arrange the closing of appropriate transactions and to arrange the timely disposition of a sufficient number of suitable investments. There can be no guarantee that a sufficient number of such investments will be available and that the Fund will therefore be able to invest all funds committed for investment by its investors. The Management Team’s ability to identify or acquire appropriate Portfolio Investments may have an adverse effect on the Fund’s results of operations.

Potential liabilities

3 6 In connection with its investments, the Fund may negotiate the right to appoint one of the Management Team of the Management Team as a member of the Portfolio Company’s board of directors. Such membership on the board of directors of a company can result in the Fund or the individual director being named as a defendant in litigation. Typically, Portfolio Companies will have insurance to protect directors and officers, but this insurance may be inadequate.

The Fund may not realize gains or income from its investments.

The Fund seeks to generate both current income and capital appreciation. However, the Fund’s Portfolio Investments may not appreciate in value and, in fact, may decline in value, and the debt securities the Fund invests in may default on interest and/or principal payments. Accordingly, the Fund may not be able to realize gains or income from its investments. Any gains that the Fund does realize may not be sufficient to offset any other losses experienced. Any income that the Fund realizes may not be sufficient to offset its expenses.

Investments made by the Fund are speculative in nature.

All investments are speculative in nature and the possibility of partial or total loss of capital exists. Investors should not subscribe to or invest in the Fund unless they can readily bear the consequences of such loss.

It is possible that the Fund could generate unrelated business taxable income for tax­exempt Token Holders.

The Management Team expects to minimize the Fund’s income that is subject to unrelated business income tax to the extent reasonably practicable and consistent with its goal of maximizing pre­tax returns of all the Partners. Thus, prospective investors should be aware that the Fund may generate income subject to unrelated business income tax.

Most Fund investments will be illiquid in nature.

Investments made by the Fund are likely to be illiquid. Illiquidity may result from the absence of an established market for the investments, as well as legal, contractual or other restrictions on their resale by the Fund. Dispositions of investments may be subject to contractual and other limitations on transfer or other restrictions that would interfere with subsequent sales of such investments or adversely affect the terms that could be obtained upon any disposition thereof.

When investing in multiple jurisdictions, the Fund will be exposed to currency risk.

The Fund will invest its capital in jurisdictions outside of the United States. As such, the Fund will generally be exposed to currency risk. The currency price of a non­U.S. investment can decline rapidly for a variety of reasons, including political, economic or technical trends, events or developments. The Fund may not hedge currency risk.

Investing in multiple countries involves unique considerations that do not normally arise in the context of U.S. investments.

The Fund expects to invest in countries in Eastern Europe. As a result, its investments involve certain considerations not typically associated with investments in U.S. issuers or securities denominated or traded in

3 7 U.S. dollars. These considerations include: (a) the potential effect of foreign exchange controls (including suspension of the ability to transfer currency from a given country or to realize on Fund investments) and changes in the rate of exchange between the U.S. dollar and other currencies in which the Fund’s investments are denominated, which changes will affect the U.S. dollar value of the Fund; (b) the application of foreign tax law, changes in governmental administration or economic or monetary policy or changed circumstances in dealings between nations; (c) the effect of local market conditions on the availability of public information, the liquidity of securities traded on local exchanges and transaction costs and administrative practices of local markets; (d) the fact that the Fund’s assets may be held in accounts by custodians, or pledged to creditors of the Fund, in jurisdictions outside of the United States, so that there can be no assurance that judgments obtained in United States courts will be enforceable in any of those jurisdictions; and (e) in some countries, political or social instability or diplomatic developments could adversely affect, or result in the complete loss of, such investments. The possibility of expropriation, confiscatory taxation or nationalization of foreign bank deposits or other assets, lack of comprehensive tax, legal and regulatory systems, which may result in the Fund being unable to enforce its legal rights or protect its investments, and the imposition of foreign governmental laws or restrictions could affect investments in securities of issuers in those nations. Restrictions and controls on investment in the securities markets of some countries may have an adverse effect on the availability and costs to the Fund of investments in those countries. Foreign settlement procedures and trade regulations may involve certain risks (such as delay in payment or delivery of securities or in the recovery of the Fund’s assets held abroad) and expenses not present in the settlement of domestic investments. Costs may be incurred in connection with conversions between various currencies. In addition, the income and gains of the Fund may be subject to withholding taxes imposed by foreign governments for which investors may not receive a full foreign tax credit.

Risks associated with investing in developed countries are compounded when investing in emerging markets.

Investing in underdeveloped emerging markets entails all of the risks of investing in developed countries to a heightened degree. These heightened risks include: (a) greater risks of expropriation, confiscatory taxation, nationalization, and less social, political and economic stability; (b) the smaller size of the market for such securities and a lower volume of trading, resulting in lack of liquidity and in price volatility; and (c) certain national policies that may restrict the Fund’s investment opportunities including restrictions on investing in issuers or industries deemed sensitive to relevant national interests.

The Token Holders have no direct control over the Fund’s operating or investment policies or procedures, which results in substantial reliance on the Management Team.

The management, financing and disposition policies of each of the Fund and its policies with respect to certain other activities, including its distribution and operating policies, are determined by the Management Team. To the extent permitted by the Fund’s Fund Agreement, these policies may be changed from time to time at the discretion of the Management Team without a vote of the Partners of the Fund. Although the Management Team has no present intention to make any such changes, such changes could be detrimental to the Token Holders’ interests in the Fund.

Interests in the Fund may be highly illiquid.

Interests in the Fund will not be registered under the Securities Act or any other securities law and ordinarily will not be transferable unless registered under applicable federal, state and/or other securities laws or unless

3 8 an exemption from registration under such laws is available. White we will try to list the Pulsars on crypto exchanges, there are no guarantees that the Pulsars will be accepted for trading. As such, each prospective Token purchaser must consider its investment to be illiquid.

Projections and opinions expressed by the Fund, Management Team are based on current knowledge, and are limited as such.

Statements contained in this memorandum that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of the Management Team. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed on them. No assurance can be given that returns from the Fund will be equal or similar to those achieved or expected to be achieved by prior investments of the Management Team, and no assurances can be given that actual results will meet the Fund’s stated objectives.

The expected group of Token Holders is diverse in ways that could lead to changing interests and conflicts.

The Token Holders of the Fund may include persons or entities organized in various jurisdictions who may have conflicting investment, tax and other interests with respect to their investments in the Fund. The conflicting interests of individual Token Holders may relate to or arise from, among other things, the nature of investments made by the Fund, the structuring of the acquisition of Fund investments and the timing of disposition of investments. Such structuring of Fund investments may result in different returns being realized by different Token Holders. As a consequence, conflicts of interest may arise in connection with decisions to be made by the Management Team, including with respect to the nature or structuring of investments, that may be more beneficial for one Token Holder than for another Token Holder. In selecting and structuring investments appropriate for the Fund, the Management Team will consider the investment and tax objectives of the Fund as a whole, not the investment, tax or other objectives of any Token Holder individually.

The Fund does not expect to enjoy significant current income from its investments.

The return of capital and the realization of targeted returns, if any returns are achieved, from the Fund’s investments will generally occur only upon the partial or complete disposition of a downstream investment, either through securitization or sale. Although current returns from investments may vary, prior to partial or complete disposition, there may be no current return on many of the Fund’s investments, and the Management Team is not obligated to manage investments to maximize current returns.

Third­Party Involvement

The Fund may co­invest with third parties through joint ventures or other entities. Such investments may involve risks not present in investments where a third party is not involved, including the possibility that a co­venturer or partner of the Fund may, at any time, have economic or business interests or goals that are inconsistent with those of the Fund, or may be in a position to take action contrary to the Fund’s investment objectives. In addition, the Fund may be liable for the actions of its co­venturers or partners. While the Management Team intends to review the qualifications and previous experience of joint venture partners, it does not expect to obtain financial information from, or to undertake private investigations with respect to, prospective joint venture partners.

3 9 Potential Conflicts of Interest

The Management Team is required to devote such time to the Fund as is consistent with the Fund achieving its investment objectives. The Management Team and the Management Team may have other interests and engage in business activities in addition to those relating directly to the Fund. Such activities may include providing management or advisory services to other collective investment vehicles or accounts. Accordingly, the Management Team and the Management Team may have a conflict of interest in the allocation of time and effort in connection with the provision of such management and advisory services to the Fund, on the one hand, and the other funds or advisory accounts on the other. The Management Team is nonetheless subject to a fiduciary duty to act with the utmost good faith in all dealings with the Fund.

Success Fee

The Success Fee may create an incentive for the Management Team to cause the Fund to make investments that are riskier or more speculative than would be the case if the Success Fee payment was not made.

Regulatory Concerns

The Management Team believes that the nature of the Fund and the Token Sale will not subject it to the registration requirements of the CIS Act and the Financial Services (Collective Investment Schemes) Regulations 2011. There is no assurance that the Management Team’s belief in this regard will continue to be correct. Due to the various burdens of compliance with the CIS Act, the performance of the Fund’s investment portfolio could be materially adversely affected, and risks in involved in financing developing companies could substantially increase, if the Fund becomes subject to the CIS Act. Neither the Fund nor its counsel can assure investors that, under certain conditions, changing circumstances, or changes in the law, the Fund may not become subject to the CIS Act or other burdensome regulation. The Token Sale will likely be regarded as sale of securities by the US Securities and Exchange Commission and the European Securities and Markets Authority. As such, the sales of Tokens will be prohibited in the US and the EU without registration with the appropriate regulatory bodies. The Management Team is not registered as an investment advisor under the Investment Advisers Act of 1940; the Alternative Investment Fund Managers Directive, or the CIS Act and will not provide investment management services to any class of person which would require it to obtain such a license.

FATCA

The Foreign Account Tax Compliance Act (“FATCA”) aims to combat tax evasion by preventing U.S. persons from hiding income and assets from the Internal Revenue Service (“IRS”). The principal enforcement mechanism is imposition of a 30% withholding tax on U.S. earnings for entities that are not FATCA – compliant. Gibraltar has entered into a Model 1 Intergovernmental Agreement (“IGA”) with the U.S. that can ease the reporting and withholding burdens with respect to the Fund. However, the IGA will require the government of Gibraltar to promulgate rules to carry out the IGA and requires certain compliance measures by the government of Gibraltar with respect to the U.S. The Fund might be subjected to burdensome rules and regulations. If there is a lack of compliance with such rules and regulations or compliance with the government’s own compliance obligations, tax withholding may be imposed under FATCA.

SPECIFIC RISKS APPLICABLE TO PULSAR TOKENS

4 0 Risk of Losing Access to Pulsars Due to Loss of Private Key(s), Custodial Error or Purchaser Error

A private key, or a combination of private keys, is necessary to control and dispose of Pulsars stored in your digital wallet or vault. Accordingly, loss of requisite private key(s) associated with your digital wallet or vault storing Pulsars will result in loss of such Pulsars. Moreover, any third party that gains access to such private key(s), including by gaining access to login credentials of a hosted wallet service you use, may be able to misappropriate your Pulsars. Any errors or malfunctions caused by or otherwise related to the digital wallet or vault you choose to receive and store Pulsars, including your own failure to properly maintain or use such digital wallet or vault, may also result in the loss of you Pulsars. Additionally, your failure to follow precisely the procedures set forth for buying and receiving Pulsars, including, for instance, if you provide the wrong address for the Purchaser Address, or provides an address that is not ERC­20 compatible, may result in the loss of your Pulsars.

Risks Associated with the Ethereum Protocol

Because Pulsars are based on the Ethereum protocol, any malfunction, breakdown or abandonment of the Ethereum protocol may have a material adverse effect on the Pulsars.

Risk of Mining Attacks

As with other decentralized cryptographic Pulsars based on the Ethereum protocol, the Pulsars are susceptible to attacks by miners in the course of validating Token transactions on the Ethereum blockchain, including, but not limited, to double­spend attacks, majority mining power attacks, and selfish­mining attacks. Any successful attacks present a risk to the Pulsars, including, but not limited to, accurate execution and recording of transactions involving Pulsars.

Risk of Hacking and Security Weaknesses

Hackers or other malicious groups or organizations may attempt to interfere with the Pulsars in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus­based attacks, Sybil attacks, smurfing and spoofing. Hackers or other malicious groups of organizations may also attempt to get access to private keys or other access credentials in the wallet, vault, or other storage mechanism used to receive and hold the purchased Pulsars.

Risks Associated with Markets for Pulsars

The Company does not anticipate supporting or otherwise facilitating any secondary trading or external valuation of Pulsars. This therefore creates illiquidity risk with respect to the Pulsars you purchase. Even if secondary trading of Pulsars is facilitated by third party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. A number of exchanges have announced that they will not allow Pulsars that may be characterized as securities from trading on the exchanges; so to the extent that the Pulsars are characterized as securities, many exchanges will disallow their trading on these exchanges. Furthermore, to the extent that third­parties do ascribe an external exchange value to Pulsars (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile and diminish to zero.

Risk of Uninsured Losses

4 1 Pulsars are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss or loss of utility value, there is no public insurer, such as the Federal Deposit Insurance Corporation, or private insurance arranged by Company, to offer recourse to you.

Risks Associated with Uncertain Regulations and Enforcement Actions

The regulatory status of the Pulsars and distributed ledger technology is unclear or unsettled in many jurisdictions. It is difficult to predict how or whether regulatory agencies may apply existing regulation with respect to such technology and its applications, including the Pulsars. It is likewise difficult to predict how or whether legislatures or regulatory agencies may implement changes to law and regulation affecting distributed ledger technology and its applications, including the Pulsars. Regulatory actions could negatively impact the Pulsars in various ways, including, for purposes of illustration only, through a determination that the purchase, sale and delivery of the Pulsars constitutes unlawful activity or that the Pulsars are a regulated instrument that require registration or licensing of those instruments or some or all of the parties involved in the purchase, sale and delivery thereof. Company may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.

Risks Arising from Taxation

The tax characterization of Pulsars is uncertain. You must seek your own tax advice in connection with purchasing Pulsars, which may result in adverse tax consequences to you, including withholding taxes, income taxes and tax reporting requirements.

Risk of an Unfavorable Fluctuation of Virtual Currencies

If the value of ETH, BTC or other virtual currencies fluctuates unfavorably during or after the Crowdsale, the Company team may not be able to fund investments in Portfolio companies in in the manner that it intended. In addition to the usual market forces, there are several potential events which could exacerbate the risk of unfavorable fluctuation in the value of ETH, BTC or other virtual currencies, including another DAO­like attack on the Ethereum network, or significant security incidents or market irregularities at one or more of the major cryptocurrency exchanges.

Risks Arising from Lack of Governance Rights

Because Pulsars confer no governance rights of any kind with respect to the Company, all decisions involving the Company and its investments in Portfolio companies and disposition of such investments will be made by the Company at its sole discretion. These decisions could adversely affect the value of any Pulsars.

Unanticipated Risks

Cryptographic Pulsars such as the Pulsars are a new and untested technology. In addition to the risks included herein there are other risks associated with your purchase, possession, and use of the Pulsars, including unanticipated risks. Such risks may further materialize as unanticipated variations or combinations of the risks discussed herein.

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ANTI­MONEY LAUNDERING COMPLIANCE The Management Team and the Fund are subject to the provisions of the Proceeds of Crime Law, 2015 of Gibraltar (collectively, the “Law”). To ensure compliance with Gibraltar’s anti­money laundering laws and regulations the Fund and the Management Team reserve the right to request such information as is necessary to verify the identity of a prospective Pulsar Token purchaser. If, as a result of any information or other matter which comes to his attention, any person resident in Gibraltar knows or suspects that another person is engaged in money laundering or is involved with terrorism or terrorist property and the information for that knowledge or suspicion came to their attention in the course of their business the person will be required to report such belief or suspicion to the applicable authorities in Gibraltar. Such report shall not be treated as a breach of any restriction upon the disclosure of information imposed by law or otherwise.

RESTRICTIONS ON SALE OF PULSAR TOKENS

The following restrictions on distribution are not exhaustive and do not constitute legal advice. No representation is made that the restrictions set out below are complete or accurate.

Singapore: The Pulsars have not been registered for distribution to the public in the European Union in accordance with the Monetary Authority of Singapore. The Fund shall not sell the Pulsars to any residents of Singapore and the residents of Singapore are prohibited from purchasing the Pulsars, either directly or indirectly.

Canada. The Pulsars have not been registered for distribution to the public in Canada in accordance with the Canadian Securities Administration. The Fund shall not sell the Pulsars to any Canadian Persons (as defined in the Terms of Token Sale) and the Canadian Persons are prohibited from purchasing the Pulsars, either directly or indirectly.

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EXHIBIT A: Pulsar VC portfolio companies

1. Pinscreen

Industry ­ Mobile Model ­ B2C Short description ­ Revolutionizing digital communication and online human interactions with user­generated and personalized 3D virtual avatars. Website ­ h ttp://www.pinscreen.com Pulsar VC ownership ­ Founders ­ Hao Li (F B L inkedIn) , CEO and Co­founder, Frances Chen (F B) , $10K / $5M cap on Co­founder, Stanley Kim (F B) , Co­founder valuation Latest valuation (based on last round raised) ­ $51M Funds raised ­ $3.5M

2. AgFunder

Industry ­ Mobile Model ­ B2C Short description ­ Revolutionizing digital communication and online human

interactions with user­generated and personalized 3D virtual avatars. Pulsar VC ownership ­ Website ­ h ttp://www.pinscreen.com $50K / $6,5M cap on Founders ­ Hao Li (F B L inkedIn) , CEO and Co­founder, Frances Chen (F B) , valuation Co­founder, Stanley Kim (F B) , Co­founder Latest valuation (based on last round raised) ­ $51M Funds raised ­ $3.5M

3. EnergoLesProm

Industry ­ GreenTech (energy safety) Model ­ B2B Short description ­ Producing innovative, mobile, industrial plants for processing Pulsar VC ownership ­ of wood, agricultural residues and derived bio­oil, which can be used as fuel for $30K / 2% boilers. Website ­ h ttp://energolesprom.ru Founders ­ Andrey Grachev CEO (F B) Latest valuation (based on last round raised) ­ $15M Funds raised ­ $2,5M Participant in other acceleration programs ­ RVC

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4. Pipeline DB

Industry ­ Analytics Model ­ B2B Pulsar VC ownership ­ Short description ­ PipelineDB is a real­time analytics database that runs queries $50K / $10M cap on continuously on incoming data. Queries are posed once in advance and the valuation results are updated incrementally as new data arrives. Benefits include extremely low latency, no need to write and deploy realtime application code in front of the database, no external datastores to manage, full wire compatibility with PostgreSQL, and a highly cost­effective infrastructure. Website ­ h ttps://www.pipelinedb.com Founders ­ Jeff Ferguson, Co­Founder and President ( FB), Derek Nelson (L inkedIn) , Co­Founder and CEO Latest valuation (based on last round raised) ­ $15M Participant in other acceleration programs ­ Y Combinator

5. Channel Meter

Industry ­ Analytics Model ­ B2B Short description ­ ChannelMeter is a platform for online video analytics and Pulsar VC ownership­ influencer management. We help media companies and brands leverage the $50K / $6M cap on power of online video influencers and their massive audiences by providing valuation software for discovery, enrollment, accounting, payments, and tools necessary for a successful online video network. Website ­ h ttps://www.channelmeter.com Founders ­ Eugene Lee, Co Founder & CEO ( FB, L inkedIn) Latest valuation (based on last round raised) ­ $10M Participant in other acceleration programs ­ 500 Startups

6. Vango

Industry ­ Marketplace Model ­ B2C

Short description ­ Vango helps you find original, affordable art and visualize it in Pulsar VC ownership ­ your space. You can decorate your home or office by simply taking a picture of the $50K / $4,5M cap on wall where you want to hang your art. Based on this picture and your personal valuation taste, Vango recommends original art for you and enables you to virtually see art hanging on your wall. After previewing the art on your wall you can share with your friends via Facebook and Pinterest to provide validation and get feedback before you buy. With a transparent pricing model, artists sell for more the more popular they are. Vango provides a friction­free marketplace where artists and buyers connect to create and find original art. Website ­ h ttps://www.vangoart.co Founders ­ Ethan Appleby CEO & Founder ( FB), Patrick Coughlin Co­Founder (FB), Brandon Flayler Co­Founder ( FB), Win Raguini Co­Founder ( FB). Latest valuation (based on last round raised) ­ $8M Funds raised ­ $2,35M Participant in other acceleration programs ­ 500 Startups

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7. Vyng

Industry ­ Video, Mobile Model ­ B2C Short description ­ Bringing emotion to how conversations start on mobile. Website ­ h ttp://vyng.me Founders ­ Paul Kats, Founder ( FB), Art Haedike, Co­Founder ( FB), Jeffrey Pulsar VC ownership ­ Chernick, Co­Founder ( FB) $25K / $4M cap on Latest valuation (based on last round raised) ­ $8M valuation Funds raised ­ $2,5M

8. Collectly

Industry ­ SaaS Model ­ B2B Short description ­ Collectly helps healthcare providers collect more past due Pulsar VC ownership­ invoices by helping patients get out of the debt as smooth as possible. $30K / $6M cap on Website ­ h ttps://collectly.co valuation Founders ­ Levon Brutyan CEO & Co­founder ( FB), Maxim Mizotin CTO & Co­founder ( FB) Latest valuation (based on last round raised) ­ $7,5M Funds raised ­ $1,9M Participant in other acceleration programs ­ Y Combinator

9. Desk­4­Work

Industry ­ Real estate and development; Workplace marketplace Model ­ B2B2C Short description ­ Desk4.Work is revolutionizing the way how people find and Pulsar VC ownership ­ book convenient work desk nearby on­demand in co­working spaces for a less $115K / 15% than 1 day. We are like AirBnB for getting work desk in co­working spaces. Website ­ under construction Founders ­ George Arefiev ( FB) CEO Latest valuation (based on last round raised) ­ $6M Funds raised ­ $115K

10. A.A.C. Polymers

IIndustry ­ Composite polymer materials Model ­ B2B Short description ­ Developed innovative composites that combine processability of polymers with heat conduction of metals. The unique properties allow the Pulsar VC ownership ­ material to create products that combine the design complexity (including 3D), $100K / 20% resistance to aggressive external environment, ease and reliability. The availability of resource and the universality of the equipment makes it possible to organize production anywhere in the world with minimal logistic costs. Website ­ h ttp://aacpolymers.ru Founders ­ Andrey Kosenov ( FB) CEO, Aleksey Gaydanin CSO, Sergey Safronov CTO Latest valuation (based on last round raised) ­ $5M Funds raised ­ $100K

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11. Ratelsys

Industry ­ Industrial IoT Model ­ B2B Short description ­ Hard Core LPWAN for Wireless Industrial IoT. Aerospace and Radar Systems technologies for extreme noise immunity. Website ­ under construction Pulsar VC ownership ­ Founders ­ Timur Galeev, CEO $60K / 20% Latest valuation (based on last round raised) ­ $3,5M Funds raised ­ $90K Participant in other acceleration programs ­ Skolkovo

12. GetCoder

Industry ­ HR Model ­ B2C Pulsar VC ownership ­ Short description ­ HR technology to estimate coder’s skills. See detailed contact $100K / 20% information whenever publicly available: links to accounts in social networks, e­mail, Skype, etc. Languages: Discover what programming languages and technologies are used by the candidate. All data in the summary are based on, and verifiable with GitHub links. Find suitable candidates who already know the technology you use. Website ­ h ttps://getcoder.io Founders ­ Dmitry Kondratyev ( FB), CEO, Marat Mingazov, CTO, Giancarlo Succi, CSO Latest valuation (based on last round raised) ­ $2,5M Funds raised ­ $160K Participant in other acceleration programs ­ Enterprise Ireland, Competitive Start Fund

13. Try.Fit

Industry ­ E­commerse Model ­ B2B

Short description ­ Solution identifies the best match footwear (size & model) for Pulsar VC ownership ­ all intended activities (walking, running, jumping, snowboarding, hiking, etc.) by $115K / 10% analyzing digitally simulated geometric and physical collisions between 3D fitting clones of the shopper’s foot and the shoes in these activities. The solution includes mobile & in­store scanning of the feet & footwear. This innovation would generate the highest shopping confidence and use satisfaction for in­store & online shoppers. Website ­ h ttp://try.fit Founders ­ Vagan Martirosyan, CEO ( FB) Latest valuation (based on last round raised) ­ $2,5M Funds raised ­ $765K

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14. Mouse

Industry ­ Music Model ­ B2C Short description ­ Mouse provides a crowdsourcing platform for live music. Mouse allows emerging and established artists to gauge where their fans want to

see them next. Mouse lets fans experience live music wherever they want, while Pulsar VC ownership ­ giving artists and venues guaranteed revenue through direct ticket sales and $115K / 15% VR/360 streaming. Website ­ h ttp://www.mouselive.com Founders ­ Ilia Karas CEO ( FB), Eugene Gavrilov COO Latest valuation (based on last round raised) ­ $2,5M Funds raised ­ $115K

15. Smart Click

Industry ­ Mobile Payments Model ­ B2C Short description ­ Mobile solution for payments for gasoline and other goods at Pulsar VC ownership­ the gas stations including bonus and incentives program. $110K / 15% Website ­ under construction Founders ­ Gregory Semakov CEO, Robert Usmanov ( FB), CTO Latest valuation (based on last round raised) ­ $2,5M Funds raised ­ $110K

16. Agelon

Industry ­ Market Research Model ­ B2B Short description ­ AGELON is an online service for conducting market research. Pulsar VC ownership ­ Its innovation solutions are focused on the target audience and respondents $90K / 5% verification on the basis of the big data analysis in social media. As a result, it helps to reduce marketing research costs by 2­3 times in addition to increase data acquisition rate by 10­15 times. Website ­ h ttps://agelon.ru Founders ­ Denis Bezenkov ( FB), CEO Latest valuation (based on last round raised) ­ $2,3M Funds raised ­ $146K

17. Magic Tab

Industry ­ Marketplace Model ­ B2C Short description ­ Magic Tab is a solution to attract new clients to shopping sites and increase loyalty through gamification, bonuses and sharing incentives. Website ­ h ttps://magictab.ru Founders ­ Rinat Anisimov, CEO ( FB) Pulsar VC ownership ­ Latest valuation (based on last round raised) ­ $2M $45K / 10% Funds raised ­ $245K

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18. R­Visioneer E asy2see

Industry ­ Machine vision applications Model ­ B2B Short description ­ Conducts advanced research, development and implementation in the field of virtual and real test environments for robots. We develop Arduino­style system that will change the approach to machine vision. Pulsar VC ownership ­ Website ­ h ttp://www.easy2see.me $115K / 20% Founders ­ Dmitrii Chikrin, CEO Latest valuation (based on last round raised) ­ $2M Funds raised ­ $115K

19. TRiZAXE

Industry ­ Boats equipment Model ­ B2B Short description ­ Trim system for boats that reduces the fuel consumption while Pulsar VC ownership ­ increasing the speed and stability. $80K / 10% Website ­ h ttp://trizaxe.com Founders ­ Maxim Ovdienko ( FB), CTO Latest valuation (based on last round raised) ­ $2M Funds raised ­ $80K Participant in other acceleration programs ­ RVC, Generation S

20. Agroinnovatons

Industry ­ AgTech Model ­ B2B Short description ­Agroinnovations project AGRO.AI is a SaaS platform for dairy

herd management and data analysis. Project aims to provide a solid Pulsar VC ownership ­ decision­making software solution that will reduce the costs associated with herd $80K / 20% management and will help to increase dairy farms productivity.

Website ­ h ttp://agro.ai/ Founders ­ Dusaev Marat ( FB), CEO, Malinovskii Georgii, CTO, Galiullin Eduard, Implementation Specialist Latest valuation (based on last round raised) ­ $2M Funds raised ­ $135K Participant in other acceleration programs ­ RVC, Generation S

21. Thermoabrasive Group

Industry ­ Oil&Gas field services Model ­ B2B Short description ­ Onsite solution for oils pipes cleaning Website ­ under construction Pulsar VC ownership ­ Founders ­ Alex Skvortscov, CEO $60K / 20% Latest valuation (based on last round raised) ­ $2M Funds raised ­ $60K

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22. Albiotech

Industry ­ Biotech Model ­ B2B Short description ­ Technology of creating Bioprotein from methane Pulsar VC ownership ­ Website ­ under construction $85K / 10% Founders ­ Mike Fishman CEO ( FB) Latest valuation (based on last round raised) ­ $1,9M Funds raised ­ $1M

23. Flowito

Industry ­ Marketplace Model ­ B2C Short description ­ 3D App designer of flower bouquets. The mobile App allows Pulsar VC ownership ­ users to create their own, unique bouquets without leaving home and order $60K / 25% delivery of the bouquet anywhere in the world and share it in social networks. Market of flowers internet sales grows by 15­20 percent per year. For 2016 Russian market value is €3 bln, world value €40 bln. Website ­ h ttp://www.flowito.com Founders ­ Ruslan Gaisin ( FB), CEO, Danil Kuznetsov CTO Latest valuation (based on last round raised) ­ $1,7M Funds raised ­ $104K

24. Capsule

Industry ­ Nano Modified composite materials Model ­ B2B Short description ­ Dispersed particles encapsulation methods for improving uniform distribution of dispersed filler particles in the polymer matrix by increasing the wettability of these particles by forming on the surface of each particle of the Pulsar VC ownership ­ filler polymer shell. The technology can be used in Aerospace, Automotive, $65K / 20% Construction, Electrical engineering. Website ­ under construction Founders ­ Max Danilaev, CEO, Dmitriy Pashin ( FB) , CBDO Latest valuation (based on last round raised) ­ $1,5M Funds raised ­ $65K

25. Reg FM

Industry ­ Events Model ­ B2B Short description ­ The simplest networking web­application for events and

conferences providing matchmaking based on business needs. Pulsar VC ownership ­ Website ­ h ttps://reg.fm $70K / 8% Founders ­ Faem Akhmetzyanov ( FB), CEO, Igor Golenastov ( FB), СTO, Natalya

Podkina ( FB), CMO Latest valuation (based on last round raised) ­ $1,5M Funds raised ­ $110K Participant in other acceleration programs ­ IIDF Acceleration Program, Generation S

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26. BeTrip!

Industry ­ Travel Model ­ B2C Short description ­ Smart navigator that builds the most interesting route based on the best places on your route and your preferences. The route is built based on proprietary algorithm that analyzes all the social posts and recommends the best Pulsar VC ownership ­ destinations to visit on your trip. $60K / 35% Website ­ h ttp://betrip.io Founders ­ Vladislav Tkachuk ( FB), CEO Latest valuation (based on last round raised) ­ $1,2M Funds raised ­ $60k

27. 10Tracks

Industry ­ Music Model ­ B2C Short description ­ 10tracks is a cloud music storage and streaming service which enables owners of large music collections to enjoy their music over Android, iOS, WP8 devices. A unique storage system helps to upload music to the cloud 30

times faster, save space and lower costs. Songs can be uploaded to the cloud Pulsar VC ownership ­ from iTunes, Winamp and multiple different devices, preserving unique folder and $30K / 10% subfolder structure, and allowing music listening without internet access.

Website ­ h ttp://10tracks.com Founders ­ Vlad Vernigora, CEO ( FB) Latest valuation (based on last round raised) ­ $1M Funds raised ­ $230K Participant in other acceleration programs ­ Microsoft grant program

28. Vendi

Industry ­ Vending machines production Model ­ B2B Short description ­ Vendi is a mobile payment service for vending machines. A plug­and­play solution with no internal upgrades required to the vending machines. Not only increases sales, but allows for loyalty programs and analytics Pulsar VC ownership ­ for vending companies, as well as logistics efficiencies. $45K / 10% Website ­ h ttp://www.hellovendi.com Founders ­ Alex Brysyakin ( FB), CEO Latest valuation (based on last round raised) ­ $1M Funds raised ­ $45K Participant in other acceleration programs ­ RVC, Generation S 29. SkiLine

Industry ­ Polymer chemistry in sports Model ­ B2B Short description ­ New sliding surface for cross country skis using RFBR Pulsar VC ownership ­ (Formation in the gas phase encapsulated polymer powders with nanoparticles) $41K / 10% Founders ­ Evgeny Bogoslov, CEO, Dmitriy Pashin ( FB), CBDO Latest valuation (based on last round raised) ­ $0,8M Funds raised ­ $41K