www.TrueWealthVC.com Gender Matters

Our mission is to deliver true wealth – to our investors, portfolio companies, and communities – by investing in women-led businesses in consumer health and sustainable products and technologies.

Women-led = At least one woman on the founding or executive team of significant decision making influence Women are Making the Decisions

85% of all consumer purchases are made… B Y

W 80% of all healthcare decisions are made… O M E N 66% of primary decisions over investable household assets are made…

Source: Marketing Zeus, US Dept of Labor, Center for Talent Innovation Women are Driving Higher Returns

Large Public Companies Small Businesses VC-Backed Start-Ups

Companies with Women-led private higher portion tech companies of women see… leaders enjoy…

Growth of 3 1 women- 5 2 4 5 owned $10M+ % revenue % 1 6 firms is faster ROI REVENUE % % …while using 33% ROE EBIT MARGIN less capital

Source: McKinsey & Company, American Express, Kauffman Foundation But There’s A Disconnect In the Venture Capital World 2% 3% 17% 1%

Total VC VC-backed dollars going VC-backed companies Women to companies with at least investment companies with a 1 woman on decision with a woman CEO executive makers in VC woman CEO team

Source: Babson College, PitchBook, Fortune The Fund Strategy is Designed to

Uncover Focus Invest

Focus on Well- Invest with Uncover Represented Gender Lens Hidden High Growth for Greater Growth Markets in Return, Opportunities Sustainable Leveraging in Consumer & the Underfunded Healthy Living Diversity Sector Companies Advantage No Gender-Lens Venture Fund in Central U.S.

A C B Texas is an advantageous home base for D deal flow F with a culture that supports innovation, E health and sustainability

Women-led Venture Funds Investing with Gender-Lens A. Golden Seeds: New York D. Female Founders Fund: New York B. Merian Ventures: E. Women’s Venture Capital Fund: Beverly Hills C. BBG Ventures: New York F. SoGal Ventures: Los Angeles Source: Springboard There is Untapped Deal Flow 35% 40% 2x

Women founders Total funding Growth rate of receiving on Kickstarter women starting funding through going to businesses Village companies with compared to Capital’s peer a woman CEO men selection process

Source: Kauffman Foundation, Stanford Social Innovation Review, American Express Women Entrepreneurs are

San Antonio is #1, BIG in Texas 3rd BEST city in the Houston is #2 and country for women Dallas is #4 in terms entrepreneurs of the greatest [Center for an number of women- Urban Future ] owned businesses DALLAS [AmEx] TEXAS ranks #2 in the U.S. for FASTEST GROWTH in the number of WOMEN-OWNED #1 in U.S. for BUSINESSES [AmEx] startup activity [Kauffman] AUSTIN HOUSTON

SAN ANTONIO

#1 overall in female entrepreneurship Home to 24 Fortune 500 [Wallet Hub] companies [Houston Business Journal]

Sources: American Express Reports 2014 & 2016, WalletHub, Center for an Urban Future, Kauffman Index, Houston Business Journal We Will Find Deals & Deals Will Find Us

• Harvard Business School Alumni • Capital Factory – Mentor • National League of Cities - New Venture • International Accelerator - Mentor Speaker • UT Austin External Advisory Board, • CleanTech Open – Mentor • Startup Angels Summit – Speaker Cockrell Engineering School Competition - Judge • The Angel Forum - Advisor • UC Berkeley Mechanical • Athenahealth More Disruption • Rice Alliance Austin – Speaker Engineering Advisory Board Please - Judge • Energizing Health Houston - Coach • UT Austin Mechanical Engineering • Rice University Business Plan • 10th Annual Rice Alliance IT/Web Advisory Council Competition - Judge Venture Forum - Speaker • Medical Innovations Lab – Advisor • SBA InnovateHER - Judge •UT System, Changing Landscape of • CaseTexas Health Study: Catalyst, Dell • The Ocean Exchange – Judg Tech CommercializationDreamIt - Speaker Medical School – Advisor PR• & Texas 4000 – Advisor • SXSW Interactive – Speaker • AARPDreamIt Health Innovation@50+ • Women@Austin - Advisor • McCombs BusinessAccess for Good = LivePitch – Advisor Speaking• Dell Medical School Word– Senior Of Summit – Speaker • SXSWAccess Accelerator – Advisor Advisor • Texas MBA Women'sTHE go Forum-to - • Project Liberty Digital IncubatorEngage – • Harvard- i-Lab President'sMouth Speaker • Capital Factory – Mentor AdvisorMinority Challenge - Judge accelerator for • Harvard Business School Alumni ments• International Accelerator - Mentor • SXSW V2Venture - Coach • TiE Texas Funding Forum - Judge • National League of Cities - New ProgramVenture • CleanTech Open – Mentor minorities • SXSW Eco - Coach • Texas Venture Labs - Judge Speaker • UT Austin External Advisory Board, Competition - Judge • HATCH Pitch - Judge • Startup Angels Summit – Speaker Cockrell Engineering School • Athenahealth More Disruption • UC Berkeley Mechanical • The Angel Forum - Advisor Please - Judge • Rice Alliance Austin – Speaker Engineering Advisory Board • Rice University Business Plan • UT Austin Mechanical Engineering • Energizing Health Houston - Coach Competition - Judge • 10th Annual Rice Alliance IT/Web Advisory Council • SBA InnovateHER - Judge • MedicalWe Innovations are deploying Lab – Advisor a similar brand awarenessVenture and Forum social - Speaker media • The Ocean Exchange – Judg •UT System, Changing Landscape of • Texas Health Catalyst, Dell • Texas 4000 – Advisor Medical Schoolstrategy – Advisor so women entrepreneurs want ourTech investmentCommercialization $.- Speaker • Women@Austin - Advisor • SXSW Interactive – Speaker • AARP Health Innovation@50+ • Dell Medical School – Senior LivePitch – Advisor • McCombs Business for Good Active in the innovation community Advisor Summit – Speaker • SXSW Accelerator – Advisor • Harvard i-Lab President's • Project Liberty Digital Incubator – • Texas MBA Women's Forum - Challenge - Judge Speaker Advisor • TiE Texas Funding Forum - Judge • SXSW V2Venture - Coach • Texas Venture Labs - Judge • SXSW Eco - Coach • HATCH Pitch - Judge $250k Grant from U.S. Dept. of Commerce

• True Wealth Ventures was 1 of 8 recipients across the country • Money for marketing the fund to entrepreneurs and sourcing deals • Through public-private partnership with UT Dell Medical School and ecosystem support: Sustainable Consumer & Consumer Health Total Market Size = $1.59 TRILLION

This category includes products The focus here is more on “health and technologies for the home care vs sick care” and includes that are more sustainably- most health-related solutions produced or use fewer toxic where a consumer is involved in ingredients. This includes, but is not the purchasing or use decision, limited to, solutions like sustainably- with the explicit exception of any produced building materials, eco- solutions requiring heavy FDA friendly appliances, smart approval (e.g. no pharma, no windows, home IoT for energy implantable medical devices). This efficiency, recycled or sustainably- includes, but is not limited to, produced home goods including food-as-medicine, health tech, beauty & fashion, sustainably- health IoT / wearables produced food and the food / digestibles, quantified self, and systems/ag tech behind it, and wellness products and solutions. better packaging. Portfolio Company Investment #1 • First investment is an Austin-based company • The founder and CEO, JeanAnne Booth, is a serial entrepreneur who sold her last company to Texas Instruments, and before that was the founder of a company that sold to Apple • The company makes a very smart watch for seniors that allows them to “age in place” by detecting falls, providing medication reminders, and helping with directions home Portfolio Company Investment #2 • BrainCheck is a mobile brain health tracking solution that helps monitor brain performance and health for individuals, athletic teams, senior organizations, and doctors around the world. • As the CEO of BrainCheck, Dr. Yael Katz alongside visionary neuroscientist and co-founder, Dr. David Eagleman, developed a more accessible brain health monitoring solution for the millions of people suffering from concussions, dementia and other brain-related conditions Portfolio Company Support is Designed for High Growth

Leverage gender diverse leadership to better understand customer needs, design more efficiently and go to market more effectively

Syndicate opportunities Surround companies with including existing expert advisory boards relationships with VCs through relationships with interested in increasing LPs, UPWARD, women leaders in their Women@Austin & others portfolio The Team Brings Deep Experience…

• UC Berkeley PhD in Green Design and Mfg with Minor in Public Health; UT Austin mechanical engineer BS • UT Dell Medical School, Senior Advisor for Health IoT • UT Austin External Advisory Board for Engineering School • 10 years of executive level operating experience including directly reporting to 3 Fortune Global 500 CEOs, leading M&A and integrations, portfolio management, and running two business lines • McKinsey & Co; Fremont Ventures • Rising Tide Fund – Founding Investor Sara Brand • Co-founder of largest draught-only self-distributed brewery in U.S. Founding GP • Harvard MBA, Duke BA in Biology • Former DreamIt CEO, a top US accelerator; Launched DreamIt women, minority and health programs • UT Dell Medical School, Texas Health Catalyst Advisor • Former start-up founder • 15 years of executive level operating experience, including 7 as CEO • Advised and invested in 150 early stage companies • 4x return on 1st fund at 4 years and 2x return on 2nd fund in 2 years Kerry Rupp General Partner …Covering All Stages of the Process Accelerator, Angel Investor, Traditional VC, Corporate M&A, Founders

• Invested in Rising Tide Kauffman • Significant corporate due • VC deal structuring experience fund to source angel deals diligence experience on medium for new and follow-on funding • Sourced thousands of ($330M) to large transactions ($500k-$5M, seed-Series B) applications per year for DreamIt ($5.4B) • Corporate acquisition/exit side accelerators through PR, social • VC experience for new and valuation and deal structuring media, events, on-campus follow-on funding experience recruiting, and targeted • Reviewed thousands of • Business development outreach using AngelList accelerator applications per year experience structuring licensing • Closed corporate partner to winnow down to 30 deals, revenue share deals programs to target deals in • Reference checked mngmt • Designed DreamIt Fund

SOURCING specific niches teams and customers • Designed and managed

DUE DUE DILIGENCE • Built then leveraged large agreements for terms with

network of affiliated DEAL STRUCTURING accelerators mentors/industry expert opinions

• Hands-on portfolio company • Corporate side acquisition and integration experience (negotiations, support at 1 of “top 10 VC firms financial modeling, due diligence, communications, integration) for adding value to portfolio • Startup side acquisition experience (due diligence prep, internal/external companies” communications; integration) • Large tech company portfolio mgmt experience across R&D, business lines and time horizons • Advisory board and non-profit Unrealized Avg Fund Invested Live Fund board experience Fund Net Return Inv Size To Date Cos Val • Built and then leveraged large Multiple Life network of affiliated mentors to support companies DreamIt $20M $15M 133 2x 2 yrs $27M II DEAL MANAGEMENT EXITS & TRACK RECORD The Fund Structure is Simple

Standard Micro-VC

Early stage Standard 4 yr companies, ~12 terms: 2.5% investing often companies mngmt fee, cycle; leading in portfolio 20% carry 10-yr fund deals

Size: $20M Designed for Return

Fewer losses Support Select Deploy 1/3 than high growth companies of capital venture: businesses with for less tech with potential to new/seed risk, more potential for return 1/2 investments; execution early exits the fund 2/3 for risk, (highly (singles and follow-on mitigated acquisitive doubles vs. investments by strong market unicorn (Series A execution focus) homeruns) and B) support The Strategy is Differentiated

Opportunities are undercapitalized

Women-Led

Verticals Market is are high largely Sustainable Austin/ growth Consumer/ untapped Texas Health Why Invest ?

“Companies with a female founder performed 63% better than investments with all-male founding teams.” -First Round Capital, based on 10 yrs of seed-stage VC from one of the largest seed stage funds in the world

Market verticals Diversity is where are high growth Market is largely the magic and well untapped and happens and the represented for a underfunded returns correlate gender diverse team advantage

It’s the right thing to do and economically a great thing to do. This presentation constitutes neither an offer to sell, nor a solicitation of an offer to buy, securities and may not be interpreted as either such offer by any recipient of this presentation, irrespective of the manner in which such recipient received this presentation. APPENDIX Founding General Partner Sara holds a Ph.D. in Green Design and Manufacturing, a minor in Public Health and Energy, and a Management of Technology Certification from UC Berkeley. She holds a BS in Mechanical Engineering from UT Austin where she now serves on the Cockrell School of Engineering's External Advisory Board as well as the Texas Health Catalyst Panel at UT’s new Dell Medical School where Sara fosters health technology innovations across industry, academia and community.

Sara has also cultivated a diverse portfolio of leadership experiences including: • Investing out of a $150M venture fund with four other investment professionals at Fremont Ventures in San Francisco, named as one of the top 10 venture capital firms for adding value to portfolio companies Dr. Sara T Brand • Working in large tech companies including Intel, Applied Materials and Advanced Micro Devices and directly with 3 Fortune 500 CEOs in strategic and operational capacities • Leading $0 to $100M business units • Buying start ups and integrating into large publicly-traded corporations & leading company mergers and cross-functional dynamics • Resolving client issues across the semiconductor value chain with McKinsey & Co. in San Francisco • Founding (512) Brewing Company, the largest draught only, self- distributing microbrewery in the United States

Founded True Wealth Ventures on the mission to drive investment toward women-led startups operating in high-growth health and sustainable consumer markets, the Fund seeks out the very best, up-and- coming companies to unlock the wealth of innovation today’s women leaders have to offer.

[email protected] (415)218-6824 General Partner Kerry Rupp is a Venture Partner at True Wealth Ventures, a new early-stage venture capital fund investing in women-led businesses in consumer health and sustainable products and technologies. In addition, Kerry provides innovation & strategy consulting through her DisRuppt practice, leveraging over 20 years' experience launching and growing startups and new lines of business. Her core service areas are Corporate Innovation, Strategy & Business Development, Venture & Corporate Development and Economic Development. Kerry is also a national instructor for the National Science Foundation’s Innovation Corps (I-Corps) program. She is an active startup coach who is asked to judge at startup competitions nationwide and is a frequent speaker on entrepreneurship, innovation and early-stage investing. She serves as a mentor at Capital Factory, Galvanize, and International Accelerator and is on the Advisory Panel of the Texas Health Catalyst program at Dell Medical School. Previously, Kerry was CEO at DreamIt, a Top Ten US startup accelerator and early-stage venture Kerry Rupp fund, where she was directly involved with the launch of over 150 companies. During her 5- year tenure with DreamIt, she grew its programs to five cities, raised a $15+M follow-on fund, and initiated the DreamIt Access (minority entrepreneur), DreamIt Athena (female entrepreneur), and DreamIt Health programs. These specialty programs were conducted in partnership with Ventures, Penn Medicine, Independence Blue Cross, Johns Hopkins University, Northrup Grumman, Kaiser Permanente, the state of Pennsylvania and the SBA. As a General Partner at DreamIt, Kerry reviewed thousands of startup applications, led the DreamIt Fund II LP fund design, raised funds, performed due diligence and made investment decisions. As of Q1 2015, the Fund had completed 37 financings and had an unrealized net return of 2x on an average investment life of 1.5 years. At that time, DreamIt companies in aggregate had gone on to raise more than $270M in follow-on funding with an aggregate enterprise value of more than $810M. Before DreamIt, Kerry was herself the founder of an online travel service, Holiday Golightly, which organized unique group travel excursions for women. She has also advised senior executives at Allrecipes.com, ReadersDigest, LexisNexis, Payscale, and Taleo on stategy, business development and marketing. She has held Vice President level positions at AllRecipes.com, Jobster, Classmates.com and LexisNexis. Kerry began her career as a consultant with McKinsey and Andersen Consulting (now Accenture). Kerry holds an MBA from Harvard Business School and a BA in Biology from Duke University. Kerry serves on the board of Texas 4000 and on the leadership teams of Women@Austin, The Angel Forum, and the Austin chapters of Harvard Business School Alumni Club, Harvard Business School Alumni Angels and the DukeGEN Global Entrepreneurship Network. She is an avid adventurer that has visited over 50 countries and 49 US states.

[email protected] (512)739-5672 Kerry’s Track Record at DreamIt

Unrealized Fund Invested Live Avg Inv Fund Fund Net Return Size To Date Cos Life Val Multipe

DreamIt II $20M $15M 133 2x 2 yrs $27M

Data as of June 30, 2017 DreamIt Ventures Footnotes "DreamIt Fund I" Metrics "DreamIt Fund II" Metrics • The term “DreamIt Fund I” is an artificial construct that • DreamIt Fund II is a more traditional fund, using a DreamIt uses to aggregate the data from 5 separate standard “2 and 20” structure. As in “Fund I”, DreamIt “mini-funds”, one for each of 5 cycles of the received common stock equity in return for the accelerator from 2008 through 2011. company’s participation in the accelerator and, sometimes, a small stipend payment. Unlike “Fund I”, • Each mini-fund is a 10-year fund. The investment DreamIt also often conducts follow-on investing in the period for all of these funds has been completed. The companies in Fund II. funds will close, respectively, in 2018 through 2021. • This is a 10-year fund. As of the time of this data, the • Kerry Rupp was a Principal (GP) for only 3 of those 5 fund was still accepting new limited partners to commit cycles (PHL2010, NY2011, PHL2011, or Jan 1, 2010 capital to the fund. The investment period is still open, through December 31, 2011) and therefore these and DreamIt is still accepting new companies into the metrics only include the data from those 3 mini funds. accelerator (and fund), as well as conducting follow- • For the companies in these mini-funds, DreamIt on investing in existing portfolio companies. The fund received common stock equity in return for the will close in 2022. company’s participation in the accelerator and, • Kerry Rupp was a General Partner of this fund from sometimes, a small stipend payment. DreamIt did not initiation through March 31, 2015. She was involved in do follow-on investing in any of these companies. the selection of all of the companies from the • These mini-funds were not traditional “2 and 20” accelerators from 2012NYC through 14PHL (or Jan 1, funds. DreamIt sold shares to a limited number of 2012 through Dec, 31, 2014). She was involved in the investors (LPs), and the DreamIt Principals (GP) owned decisions regarding follow-on investments for all the majority of the carry. For “apples-to-apples” companies through Mar 31, 2015. (Note that Kerry was comparison to other funds, however, this data has not involved in any follow-on investment decisions been modeled such that the “unrealized net return made for those companies after March 31, 2015, multiple" calculation assumes a traditional 2/20 model. however the financial returns of those companies are included, since she was involved in the initial investment decisions in these companies.) DreamIt Ventures Footnotes (cont.)

Assumptions • All calculations are based on funds deployed/invested to-date and expenses incurred to-date plus pro- rated management fees to-date. (Pro-rated management fees means the amount is calculated as 2% per year to-date times the total amount of the funds deployed and expenses incurred). [ie, the calculations do not take into account funds committed but not yet deployed, nor the management fees that are earned on those funds. Those will be accounted for in future periods, once the funds are deployed.] • Given that most of the companies in these funds have not yet exited, almost all of the data consists of unrealized returns. Any realized distributions to-date are included at cash value. The rest of the returns data is based on an estimate of the fund’s holdings in each portfolio company. • Current company valuations are assumed to be those from their most recent investment round led by a professional investor. • If a priced round, the valuation is assumed to be the actual post-money valuation of the round. • If a convertible note with a cap, the valuation is assumed to be the cap of the note. • If a convertible note with no cap, the valuation is assumed to be five times the amount invested. • If a company has not yet had an investment round other than the accelerator, the valuation is assumed to be zero. • The fund’s estimated value of its equity in each company is a straight calculation of the percentage of fully-diluted equity the fund owns times the company valuation as determined above. There is no distinction made between classes of stock, nor a detailed assessment of the impact of the cap table “waterfall” on the ultimate distribution of capital to the fund.