Starting Your Venture Portfolio with a Smart, SELECT Simple Solution FUND OVERVIEW

• About AVG • Our Investing Model • Select Fund • Focused Funds • Fund Leadership Team

www.AVGFunds.com 2 ALUMNI VENTURES GROUP

• One of most active venture firms in world, with 300 Most Active VCs in US 2018 deals completed

• Mission: make simple, smart, accessible

• Evolved from a single $1.5M fund (2014) to 20+ funds, each ranging $5-15M. Now over $300M AUM.

• What’s different about us: Low minimums, diverse portfolios, annual or quarterly funds, great transparency

• Serve accredited investors; over 3,000 have invested with us

www.AVGFunds.com 3 WHY INVEST IN VC?

• VC has consistently delivered strong returns • VC can do well, even when other asset classes don’t Fewer IPOs Vs. Acquisitions & • Companies are staying private longer—or not going public at all

• Sophisticated investors typically put 5-15% of their portfolios in VC

30-year annual average for VC returns: 19.65% — ~2x the S&P 500

Net of fees, Cambridge Associates, US Venture Capital Index and Selected Benchmark Statistics June 30, 2018

www.AVGFunds.com 4 VC OPTIONS WERE POOR… UNTIL NOW

• Lack of access to the best deals • DIY is incredibly time intensive • Diversification is nearly impossible

www.AVGFunds.com 5 AVG TERMS

• Open to accredited investors

• Investor minimum generally $50K

• 10-year funds, largely invested in 1-2 years

• Single check and K-1

• One and fast distributions

• 2% & 20% carried interest (after fees returned)

www.AVGFunds.com 6 AVG INVESTMENT MODEL

• 40 full-time investment professionals out of 5 offices seeking & vetting deals, plus HQ resources

• We’re co-investors, looking to be a small participant alongside a leading VC firm with expertise in the sector

• Source deals via our 400,000 member community

• Huge deal funnel: sort through hundreds of deals before selecting best to invest in

• Share deals among our funds to write bigger checks

• Process: find, diligence, score, share with sibling funds

www.AVGFunds.com 7 CO-INVESTING WITH TOP VCS

We invest in deals alongside top VCs that most individuals never know about or get access to

• 500 Startups • F-Prime Capital (Fidelity) • New Enterprise Associates (NEA) • Accel Partners • Partners • Nokia Growth Partners • Andreessen Horowitz • Goldman Sachs Ventures • Norwest Venture Partners • Benchmark • Google Ventures • • Bessemer Venture Partners • • • • • SV Angel • Blockchain Capital • Caufield & Byers • Thiel Capital • CrunchFund • Lightspeed Venture Partners • • Founder Collective • Maveron • Winklevoss Capital • Foundry Group • Menlo Ventures •

www.AVGFunds.com 8 …AND WHY THAT MATTERS

VC IRRs 50% Source: PitchBook Benchmarks, Private Markets Data Through 3Q 2018

40%

30%

20%

10%

0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

-10% Top Quartile Median IRR Bottom Quartile

www.AVGFunds.com 9 www.AVGFunds.com 10 SELECT FUND: WHERE INVESTORS NOT CONNECTED TO ALUMNI FUNDS START

Berkeley Alums | Strawberry Creek Northwestern Alums | Purple Arch

Brown Alums | Waterman Penn Alums | Chestnut Street

Columbia Alums | Fission Princeton Alums | Nassau Street

Cornell Alums | Triphammer Stanford Alums | Spike Select Fund deals a subset Dartmouth Alums | Green D UCLA Alums | Westwood of all AVG Alumni Fund AVG Select Fund deals: chosen for Duke Alums | To w e r v i e w USC Alums | Expo diversification

Harvard Alums | The Yard UTexas Alums | Congress Ave

MIT Alums | Castor Wisconsin Alums | Bascom

Yale Alums | Blue Ivy

www.AVGFunds.com Neither Alumni Ventures Group nor any related funds are sponsored by, affiliated with, or otherwise endorsed by any university. 11 INVESTMENT PROCESS

InvestInvest in in about about 1 1-3- 3opportunities deals per / monthmonth

Investment Teams Fund Pulls from AVG Fund Deals Programmatic Selection • 40+ full-time professionals • We draw from the deals sourced and • Selected for diversity internally led by other AVG Funds • 5 regional offices • Selected for correlation to • Each Fund does 1-3 deals a month investment industry trends • Hundreds of years of venture investing experience • 1-3 deals per month chosen for Select Fund

www.AVGFunds.com 12 SELECT FUND

• Portfolio of 30-40 deals diversified across sector, • Open to all accredited investors stage, and geography • Deals chosen from all AVG to mirror • Co-investing alongside top VCs VC industry

SECTOR STAGE GEOGRAPHY

Sample Select Portfolio

www.AVGFunds.com 13 SAMPLE SELECT FUND

Visit our website to view the entire AVG portfolio

STAGE STAGE STAGE STAGE STAGE Growth Growth Early Early Early SECTOR SECTOR SECTOR SECTOR SECTOR BioTech / Genomics Health / Healthcare Transport Fintech AI / Machine Learning GEOGRAPHY GEOGRAPHY GEOGRAPHY GEOGRAPHY GEOGRAPHY New England California New York California New England Area CO-INVESTORS CO-INVESTORS CO-INVESTORS CO-INVESTORS CO-INVESTORS OrbiMed, F-Prime Andreessen Horowitz, Menlo Ventures Aspect Venture Autodesk, Borealis Capital Partners, Naspers, Thrive Partners, Accel Ventures Borealis Ventures, GV, Capital, BVC Partners, Pelion Thiel Capital Venture Partners

*These deals are representative of the type of deals an investor might expect in the AVG Select Fund www.AVGFunds.com SELECT FUND SAMPLE PORTFOLIO

COMPANY INDUSTRY STAGE LEAD CO-INVESTOR COMPANY INDUSTRY STAGE LEAD CO-INVESTOR PharmaCCX Oncology Early Accel PropelPLM SaaS Early Norwest Venture MitraBiotech Life Sciences Growth Northpoint Ventures Smitten Other Early 3rd Creek Ventures SimpleMachines TMT Early Baidu Ventures PartySlate TMT Early Hyde Park Venture Vector Space Space Tech Growth Kodem Growth Gifnote Mobile Early Gregg Smith Systems RapidSOS Mobile Growth Playground Global Vyrill AI/Machine Learning Seed Lisa Wang ModBoot Robotics/Drones Early Bright Success Capital Hatch Apps SaaS Seed Revolution Lily AI AI/Machine Learning Seed NEA BlastPoint Big Data Seed Quake Capital Oxygen Fintech Early City Ventures TRM Labs Crypto/Blockchain Seed Blockchain Capital Clear Labs Life Sciences Growth Menlo Ventures NPM SaaS Early True Ventures GoGig Industrials Early Quiet Thunder Somna Therapeutics Wearables Seed 30Ventures ParkWhiz Mobile Early New Spring Capital Alba Mobile Seed Dadneo Capital Mighty Buildings 3D Printing Early Khosala Ventures Wrench Mobile Early Tenaya Capital Happie HR Tech Seed NXT Ventures Ollie Pet Tech Early Canaan Partners Rylo TMT Growth Alpaca Real Estate Tech Early Lightspeed Venture Sorcero Edtech Seed Pearl Investment CumulusDS IoT Early Shell Ventures

www.AVGFunds.com 15 INVESTING OPTIONS

• Invest via a self-directed IRA • Non-US investors can more quickly and easily invest via our Offshore Vehicle • Investors who commit $100K get access to Syndication deals • Investors in Select can opt into other Focused Funds for as little as $10K

www.AVGFunds.com 16 FOCUSED FUNDS FOCUSED FUNDS

• Generally $50K investor minimum; $10K minimum when added to commitment to the Select Fund • Open to all accredited investors • Focus: specific investing thesis • Deal flow from actively managed AVG Core Funds • Quarterly closes

www.AVGFunds.com 18 FUND REVIEW

ELITE ENGINEERS • Elite engineers have founded or run companies that today have a market cap in trillions of dollars More info • We invest in companies solving some of tech’s hardest problems (Artificial Intelligence, SpaceTech, etc.) • Senior Partner Alain Hanover

FIRST CHECK FUND • Good early investments in private companies can be huge difference makers, with winners offering outsized returns More info • We make many small bets, keeping significant reserves to chase winners • Managing Partner Lynn-Ann Gries

FRONTIER • We seek investment opportunities across US—outside CA, NY, MA More info • Lower operating costs, more attractive valuations • Senior Partner Greg Baker

SOCIAL IMPACT • First, we look for good deals: financial motive More info • We also seek ventures with a positive social impact: sustainable cities and communities, clean energy, climate action, and more • Senior Partner Gail Gilbert Ball

WOMEN’S • First, we look for good deals: financial motive More info • We also support for women founders, venture investors, business and tech leaders AND/OR positive impact on women in areas of opportunity, health, education, or wellbeing • Senior Partner Gail Gilbert Ball

~20-30 deals in a fund portfolio, $50K minimum, open to accredited investors

www.AVGFunds.com 19 TEAM

Anton Simunovic Gail Gilbert Ball, Alain Hanover Chief Investment Officer Senior Partner Senior Partner

• 20+ years of experience as VC investor, • Banking executive, regulator, service • 30+ years of experience as a VC, angel entrepreneur, and operating executive in provider: COO of Bancorp Bank, investor, CEO, serial entrepreneur, companies from startups to Fortune 10 Capital One, PNC Bank, Chase and Board Member, advisor Federal Reserve Bank of Richmond • Founded and led Vener8 Technologies, a Payment Studies Group • Co-founder of Common Angels, New tech commercialization company he England’s leading Angel group started with GE • 30 years in fintech (payments, payments risk mitigation, M&A) • Led Software & Internet Infrastructure Group at GE Equity, investing $72M

Lynn-Ann Gries Greg Baker Deborah Walden Managing Partner Senior Partner Senior Partner

• Career in financial arena: investment • 15 years as entrepreneur in corporate • 25+ years experience in business banking and VC leadership, business development, development and growth strategies for early-stage social impact ventures and startups, M&A • Led Fund III at Early Stage Partners, nonprofit organizations CIO at JumpStart, VP for McDonald • 10 years as investment professional in • Private consultant, clients include MIT Investments packaging, electrical products, professor and former dean launching a chemicals, manufacturing higher ed venture, and various social ventures focused on national security and foreign policy

www.AVGFunds.com 20 INTERESTED?

To learn more about our Funds, please contact: [email protected] IMPORTANT DISCLOSURE INFORMATION

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 companies are risky investments, not suitable for all investors.

www.AVGFunds.com 22