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Barbell Deck 6 www.AVGFunds.com AVG Offers Smart, Simple Venture Portfolios How We Can Partner with You to Build Your Investment Adviser Business 0 ALUMNI VENTURES GROUP VC IS A FANTASTIC ASSET CLASS Venture Capital Has Consistently VENTURE IS AN IMPORTANT ASSET Delivered 2x of S&P 30-year annual average for VC returns 18.31% CONSISTENTLY STRONG RETURNS Top quartile of venture firms far outperform the venture index Asset class has strong tailwinds 1 ALUMNI VENTURES GROUP Give Your Clients Access to Venture • Most sophisticated portfolios should have a venture allocation of 5-15% • Largely uncorrelated with other assets • AVG provides smart, simple approach to VC investing 2 ALUMNI VENTURES GROUP How Do You Build a Smart Venture Portfolio? AVG’s Five Rules of Smart Venture Investing 3 ALUMNI VENTURES GROUP AVG RULES Venture allocation 5-15% 1. Pick the Appropriate Allocation for most individuals • Endowments and foundations in top quartile of performance had ~15%+ allocation to private TOP PERFORMERS PUTTING MORE MONEY IN PRIVATE INVESTMENTS investments • Top-decile performers increased allocations over past 20 years to 40%+ in many cases 4 ALUMNI VENTURES GROUP AVG RULES 2. Build a Large Venture Portfolio “N” should be at PERFORMANCE BY PORTFOLIO SIZE least 50 deals—like our Select Fund • Power law “hits” industry • Minimal chance of loss at 50 investments • For 3x fund returns, the bigger the portfolio the better 5 ALUMNI VENTURES GROUP AVG RULES STAGE 3. Diversify Your Portfolio • Diversify by sector, stage, geography, lead manager, vintage • AVG Select Fund a good example SECTOR GEOGRAPHY 6 ALUMNI VENTURES GROUP AVG RULES 60% of AVG’s deals are co -invested with top 4. Invest with Smart Money -quartile VCs VENTURE FIRM IRRS—BY QUARTILE RANKING • Top-quartile firms dominate returns 50% • Investing alongside strong leads—especially top- 40% quartile—makes a big difference 30% The first takeaway is that funds with the top 20% returns come from the prominent venture capital firms we all know and love….Second, 10% funds can be successful without a large number 0% of billion-dollar valuation investments and a 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 herd of unicorns. -10% Source: PitchBook Benchmarks, Private Markets Data Through 3Q 2018 Source: www.benzinga.com/economics/15/07/5720899/the-holy-grail-tracking-top-venture-capital-returns 7 ALUMNI VENTURES GROUP AVG RULES 5. Invest with Discipline • Evaluated and scored by experienced investors • See lots of deals • Rigorous due diligence 8 ALUMNI VENTURES GROUP PRACTICING WHAT WE PREACH AVG Follows Every Smart VC Best Practice • Our Select Fund portfolio is ~50 venture investments • We diversify portfolios across sector, stage, geography, and lead investor • We co-invest with top-quartile investors • We run a highly disciplined and rigorous investing process nd 5 2 9 500K ~250 100 Offices in VC Activity Supporters Deals/Year Employees SECOND MOST ACTIVE VC FIRM IN U.S. 9 ALUMNI VENTURES GROUP AVG: Your Venture Capital Service Provider What We Offer You & Your Clients 10 ALUMNI VENTURES GROUP ONE OF WORLD’S MOST ACTIVE VCS Deep Product Line & Staff • 100 full-time professionals; half are full-time VC investors • Five offices, with four in VC hubs (SF, Boston, NYC, Chicago) • Community of 4,000 investors and 500,000 subscribers, growing 50% YoY • 17 alumni funds (open to alumni), source of all Select Fund investments 11 ALUMNI VENTURES GROUP HOW WE GET ACCESS TO THE BEST DEALS Identifying Top Prospects ~1000 deals/mo Network + Boots on the Ground Gaining Access to Deals • Active deal searching by our teams, with robust due diligence • Sharing deals with VC firms (because we don’t lead) • 500K connected network can help source, vet, and aid portfolio companies Vetting & Scoring • Shared back office staff to help execute Close on Best ~15 deals/mo Monitor 12 ALUMNI VENTURES GROUP AVG’S SIMPLE PRODUCT LINE Select Fund Draws from Deal Flow of Alumni Funds 17 Alumni Funds Deals sourced & shared by ~50 investment professionals from alumni communities Berkeley Alums | Strawberry Creek Duke Alums | Towerview Penn Alums | Chestnut Street USC Alums | Expo Brown Alums | Waterman Harvard Alums | The Yard Princeton Alums | Nassau Street UTexas Alums | Congress Ave Columbia Alums | Fission MIT Alums | Castor Stanford Alums | Spike Wisconsin Alums | Bascom Cornell Alums | Triphammer Northwestern Alums | Purple Arch UCLA Alums | Westwood Yale Alums | Blue Ivy Dartmouth Alums | Green D DraftIndex behind-like ourSelect alumni Fund funds Drafting on deals from Alumni Funds Select | Diversified, index-like portfolio of select AVG deals 13 ALUMNI VENTURES GROUP AVG PRODUCT LINE SAMPLE SYNDICATION DEALS COMPANY SECTOR NOTABLE RAISE/EXIT Immune system drugs $132M raised July 2018, led by Fidelity, …Add Syndications Theil Consumer credit $17M raised August 2018, led by Sallie Mae • Offered to our top 5% of customers • Normally requires $250K investment minimum Financial services for $34.5M raised March 2019, with women MarchRethink Impact, PSP Growth, across AVG Funds to access Syndications Salesforce Ventures, Khosla Ventures, • ~8-10 AVG Syndication deals a year 14 Food delivery $77M raised Aug 2017, led by Nestle subscription • All deals have been invested in by AVG fund and scored well Industrial safety $20M raised Sept 2018, led by RTP technology Ventures • Syndication members simply opt into what interests them 3D micro-location $24M raised Feb 2018, led by Fontinalis technology Partners • Standard 2/20 fee structure applies Holographic display $28M raised August 2019, led by Bosch Venture, Taiwania Capital Personal loans $32M raised Feb 2017, led by Rakuten 14 ALUMNI VENTURES GROUP HOW IT WORKS FOR YOUR CLIENTS Terms & Process • Investment size $50K to $10M • 10-year funds, largely invested in 1-2 years, with some reserves TERMS • 2% annual management fee x 10 years; fee discounts for capital commitments of $1M+ • 20% carry after 100% of committed capital (including mgmt. fees) are returned to investor; AVG shares in 20% of profits • White glove customer service • Investor proves accreditation, signs documents ONBOARDING • We build a portfolio of 30+ diverse companies PROCESS • 24/7 on portal, regular statements, newsletters and other info sharing • When companies are acquired or IPO, our investors receive a check 15 ALUMNI VENTURES GROUP READY ACCESS TO INFORMATION Investor Reporting • Transparency, with timely and open accounting and reporting • 24/7 access to online Investor Portal • Semi-annual statements • Single K-1 per fund (delivered by end of March) 16 • Consistent mark-to-market price • Gains generally distributed upon liquidity event • Highly responsive Investor Relations Team 16 ALUMNI VENTURES GROUP Working with Investment Advisers Benefits to You and Your Clients 17 ALUMNI VENTURES GROUP 17 Totals reflect sum of your client commitments—not what any single client invests AVG INVESTOR TIERS $50K Benefits for All $1M+ Benefits for minimum Investors minimum Investors Who Commit More • Smart, simple venture portfolios • At $1M+ commitment, 1.9% management fee on all investments • First shot at next year’s fund • At $3M+ commitment, 1.8% management fee on all investments • K-1 sent in March • At $10M+ commitment, 1.6% management feel on all investments • Investor Portal & updates • Investor onboarding package • Access to Syndications 18 ALUMNI VENTURES GROUP SMART MONEY INVESTING IN VENTURE Endowments’ VC Allocation 19% Yale University The best-performing 14.2% Princeton University endowments access alternative investments 15.7% Bowdoin College 19 ALUMNI VENTURES GROUP Source: Investopedia NEXT STEPS Interested? • Contact us if you’re interested in learning more about how we can work together AVG is a good fit for • If you want to move forward, we’ll provide marketing 10-20% of your clients materials • Select your most suitable prospects and introduce them to venture capital • For those interested, schedule a 1x1 with AVG: call, dinner, webinar Email us at [email protected] 20 ALUMNI VENTURES GROUP IMPORTANT DISCLOSURE Each of the various funds of Alumni Ventures Group is a different series of Launch Angels Funds, LLC, doing business as Alumni Ventures Group Funds (AVG Funds). Each of the funds involves a different investment portfolio and risk-return profile. The manager of each fund is Launch Angels Management Company, LLC, doing business as Alumni Ventures Group (AVG), a Massachusetts-based venture capital firm. AVG is a for-profit company that is not affiliated with or officially sanctioned by any school. This summary document is for preliminary informational purposes, and no offering of securities is made with this document. Offers are made only pursuant to formal offering documents, which describe risks (which are significant), terms, and other important information that must be considered before an investment decision is made. Contact [email protected] with questions, or requests for additional information on AVG or AVG funds. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and this fund involves substantial risk of loss, including loss of all capital invested. Moreover, you should not assume that any of the above content serves as the receipt of, or as a substitute for, personalized advice about investments. All documents referred to in this material are available upon request from eligible investors and should be reviewed by you and your advisors for a complete understanding of their provisions. Early-stage
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