US Market in 2013 January 2014 Page 1 of 2

Fig. 1: Number and Aggregate Value of US Venture Capital Deals Fig. 2: Number and Aggregate Value of US Venture Capital Exits Fig. 3: Breakdown of the Number of US Venture Capital Deals by by Year, 2007 - 2013* by Year, 2007 - 2013 State and Industry in 2013*

4,500 40 600 60 37.4 100% 10% 11% 8% 9% 10%

Aggregate Deal Value ($bn) 51.4 16% 4,000 Aggregate Exit Value ($bn) 90% 35 3% 2% 4% 2% 2% 31.8 500 47.4 50 30.9 30.4 46.0 8% 12% 11% Other 3,500 30.1 80% 14% 16% 4% 30 9% 26.2 11% 11% 8% Business Services 3,000 400 38.1 40 70% 6% 25 11% 9% 21.8 32.3 2,500 60% Telecoms 23% 20% 25% 20 300 30 27% 560 543 50% Other IT 2,000 4,022 No. of Exits 23.5 27% No. of Deals 503 486 32% 3,494 3,508 15 5% 1,500 3,052 200 408 18.1 20 40% Software 2,800 2,766 2,613 353 13% 10 331 30% 29% 27% 1,000 Proportion of Deals 14% Healthcare 100 10 42% 14% 500 5 20% Internet 27% 10% 21% 0 0 0 0 16% 15% 17% 2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013 0% No. of Deals Aggregate Deal Value ($bn) No. of Exits Aggregate Exit Value ($bn) CA MA NY TX WA Other State

Fig. 4: Number of US Venture Capital Exits by Type, 2007 - 2013 Fig. 5: Aggregate Value of US Venture Capital Exits by Type, 2007- Fig. 6: Breakdown of the Number and Aggregate Value of US 2013 Venture Capital Exits via IPO and Trade Sale by Industry in 2013

600 60 100% 2%1% 7% 4% 11% 10% 20 90% 1% 6% 21 6% 3% 2% 500 13 50 0.0 6% 9% Other 15 80% 9% 12% 0.0 0.0 Cleantech 70% 9% 23% 11% 16% 400 8 40 0.0 28.4 Telecoms 27 60% 14 0.0 454 416 31.4 24% 22% 300 30 50% Other IT 436 412 307 39.1 0.0 40% 52% No. of Exits 29.6 0.4 Software 200 20 307 0.0 27.9 16% 307 Proportion of Exits 30% 58% 3.3 31% Healthcare 21.2 100 22.6 20% 13 29 ($bn) Aggregate Exit Value 10 17.3 23 1.9 Internet 0.7 12.7 24% 80 10 16 10% 4 63 77 6.6 0.1 0.8 16% 5 44 43 0.3 3.7 6.3 10% 0 5 15 0.5 2.1 0 0% 2007 2008 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012 2013 No. of IPOs Aggregate Value No. of Trade Sales Aggregate Value IPO Sale to GP Trade Sale Write Off IPO Sale to GP Trade Sale Write Off of IPOs of Trade Sales

Fig. 7: Five Largest US Venture Capital Deals in 2013*

Portfolio Stage Deal Date Deal Size (mn) Investors Location Industry Company Name Series C/Round 3 Aug-13 361.2 USD Benchmark Capital, Google Ventures, TPG CA Telecoms Technologies, Inc. Unspecifi ed Genband Jan-13 343.5 USD - TX Telecoms Round Pinterest Series E/Round 5 Oct-13 225.0 USD Andreessen Horowitz, Bessemer Venture Partners, Fidelity Equity Partners, FirstMark Capital, Valiant Capital Partners CA Internet AirWatch Series A/Round 1 Feb-13 200.0 USD Insight Venture Partners GA Software Pinterest Series D/Round 4 Feb-13 200.0 USD Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, Valiant Capital Partners CA Internet

*Figures exclude add-ons, grants, mergers, secondary stock purchases and US Venture Capital Market in 2013 January 2014 Page 2 of 2

Fig. 8: Five Largest US Venture Capital Exits in 2013

Initial Portfolio Company Total Known Exit Value Investment Investors Exit Date Exit Type Acquiror (Exit) Industry Name Funding (mn) (mn) Date Accel Partners, DST Global, Elevation Partners, Firsthand Capital Management, General Atlantic, Goldman Sachs, Facebook* Sep-04 Greylock Partners, GSV Capital, Hercules Technology 2,617.4 USD Dec-13 Private Placement 3,850.0 USD - Internet , Meritech Capital Partners, Microsoft, T Rowe Price, The Founders Fund Management, TriplePoint Capital Battery Ventures, Greenspring Associates, Insight Venture ExactTarget, Inc. Jul-04 Partners, Scale Venture Partners, SV Angel, Technology 243.2 USD Jun-13 Trade Sale 2,500.0 USD Salesforce.com Software Crossover Ventures Benchmark Capital, Bezos Expeditions, Charles River Ventures, Digital Garage, DST Global, Firsthand Capital Management, GSV Capital, Insight Venture Partners, Institu- * Jul-07 tional Venture Partners, Kingdom Holding Company, Kleiner 1,402.5 USD Nov-13 IPO 1,820.0 USD - Internet Perkins Caufi eld & Byers, Morgan Stanley, Rizvi Traverse Management, Spark Capital, T Rowe Price, Union Square Ventures Alta Partners, Aperture Venture Partners, Exxel Group, Ivy Capital Partners, Lumira Capital, MediTech Partners, Mon- MAKO Surgical Corp. Apr-05 114.6 USD Sep-13 Trade Sale 1,650.0 USD Stryker Corporation Medical Devices treux Equity Partners, Skyline Ventures, Sycamore Ventures, Tudor Investment Corporation 5AM Ventures, Aravis, ARCH Venture Partners, Venrock, Madison Dearborn Ikaria, Inc.* Apr-05 - Dec-13 Sale to GP 1,600.0 USD Pharmaceuticals WRF Capital Partners

*Denotes partial exit

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