Confidential and not for Distribution Strictly for Institutional and Accredited Investors Only

Ufrate Chinese Accelerator

Silicon Valley August 30, 2016

AUTHOR OF LEADING BOOK ON VENTURE CAPITAL

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NEW BOOK ON CORPORATE VENTURE CAPITAL - CVC - THIS MONTH

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FUND II INVESTMENT FOCUS

GEOGRAPHYENTERPRISE &

CONSUMERSECTOR FOCUS STAGE

US-Focused and opportunistic

internationally with active LPs throughout the

world

Investing in B2B and B2C companies

Broad range of software / internet sector

investments. Ex: Mobile, IoT, MarTech, Big Data,

FinTech, Hospitality Tech, Enterprise SaaS

Late-Seed, Series A and Series B

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LATE SEED,A, BB2B B2C

RUBICON’S LP NETWORK IS A PLATFORM FOR DOING BUSINESS

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We leverage our network to source deals and help our portfolio companies expand into new markets in the US and across the globe

DIVERSE LP NETWORK ADDS VALUE TO STARTUPS

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Rubicon raises capital from corporates, individual high net worth angel investors, family offices and

institutional LPs creating a powerful network ready to help and go to bat for our startup portfolio.

FUND PORTFOLIO CONSTRUCTION ENABLES DOUBLE DONWN STRATEGY

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• Investing in 25 companies per fund lowers the risk of any single investment

• If you invest “all chips in” investing 10% of the fund into one deal and do that with 5 you have invested 50% of fund dollars into 5 of your 25 - second wave to de-risk

• Fund investing enables the strategy of double down on your winners

ADD VALUE TO YOUR PORTFOLIO

GOOD FOR DEAL FLOW

INVEST MORE CAPITAL INTO YOUR WINNERS

GAIN INSIDE INFORMATION WHILE HELPING PORTFOLIO

GUIDING INVESTMENT PRINCIPLES

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We adhere to these ten basic rules when evaluating a new investment

1. Must have a Minimum

Viable Product (MVP) that shows early

market traction

3. Must address a

large, high-value market opportunity

5. Must be revenue model-

focused with highly scalable,

positive unit economics

7. Must have a definable and realistic three-

to-five year potential exit

path

9. Rubicon must be able

to add real and significant

value

10. In exceptional cases, break the rules

8. Must have the potential to

return our capital at least 10x

6. Must be capital efficient with at least 18 months of cash

runway from current financing

round

2. Excellent management team with experience,

domain knowledge and

leadership qualities

4. The core product must be

software / technology-

focused

INVESTORS IN FUND II MAY CO-INVEST WITH FUND I AND FUND II CO’SInvestor in Fund II may co-invest with our VC fund in any Fund II or Fund I companies

Our investors have control of which companies they want to invest more into

INVESTMENT

RUBICON FUND

SIDECAR FUND

COMPANY

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MG

MT

FE

EC

AR

RYC

AR

RYM

GM

T FE

E

MAXIMIZE INTERACTION AND INFORMATION AMONG LPS AND PORTFOLIO

• Classic VC has zero contact from big LPs and the portfolio • Rubicon facilitates contact among LPs and the portfolio companies with sidecar

real-time transparency and culture of events and introductions

ANGEL INVESTOR LPs

CORPORATE LPs

FAMILY OFFICE LPs

GENERAL PARTNERS & VENTURE PARTNERS

RUBICON PORTFOLIO COMPANIES

ACTIVE PRIVATE & PUBLIC EVENTS & SPEAKERS & TVRubicon organizes and produces a busy calendar of public and private events

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All members of our team speak on panels and keynotes at major events on a weekly basis locally and around the

world including recent events in:

Beijing Shanghai

Chongqing Chengdu London

Stockholm Gothenburg

Amsterdam Eindhoven

Madrid Moscow

Johannesburg Boston

New York

Washington DC Chicago Austin

San Francisco Silicon Valley Los Angeles

San Diego

2 events per year in SF

2 events per year in NYC

Annual LP & portfolio co. BBQ in Palo Alto

Private holiday parties in New York and SF

Private LP - Portfolio lunches and dinners in many cities Andrew Romans is a

frequent speaker on ABC, CNBC and MSNBC on topics related to Venture Capital and author of a top selling book on VC

GO TO JAIL OR GO TO THE BANK

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• The venture capital market

benefits from the ability to

trade on inside information

• Venture Capital is a clear

way to beat the stock market

Gordon Gekko went to jail for inside trading (Michael Douglas in the movie Wall Street)

FUND I PORTFOLIO COMPANIES

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Stealth Stealth

CO-INVESTORS

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Fund I has co-invested with

Plus individual investors Eric Schmidt, Peter Thiel, Joe Lonsdale, Mark Pincus, The Rockefeller Family, Danny Meyer, Mark Cuban, Ashton Kutcher, The Zuckerberg Family, Semil Shah, David Tisch, Dustin Moskovitz, Jason Calacanis, Gary Vaynerchuk, Don Dodge

TRACK RECORD

* IRR is unrealized and measured by company valuations as defined by each company’s most recent round of funding

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19 (1 exit) 66% 3.2x 82%

Portfolio co’s to date (25 total expected in Fund I)

Sectors: Mobile, IoT, FinTech, Hospitality Tech, MarTech,

Enterprise SaaS, Big Data, etc.

(Lifetime Fund I IRR)*

96% IRR (2014 cohort)*

23% IRR (2015 cohort)*

Avg. markup of 2014 investments

146% cash-on-cash return with zero losses in

Fund I since inception*

of Fund I’s 2014 cohort have raised

up-round capital from institutional investors

ANIMATING THE NETWORK THROUGH EVENTS

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Our event speakers have included senior venture capitalists and corporate development executives from the following firms

RUBICON IS DESIGNED TO MAXIMIZE VALUE

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We’ve designed every aspect of Rubicon around delivering value to our LPs and portfolio co’s

We only invest in companies where we can add tangible, difference-

making value (and then we get our hands dirty)

VALUE

We draw upon our industry-leading LPs

throughout the investment process, from sourcing to

diligence to portfolio support

ACTIVE LPs

We animate and cross-pollinate our founder and LP network via unique and

engaging events

EVENTS

The Fund + Sidecar model gives LPs greater control over risk and capital, and

encourages active LP involvement in the

portfolio

FUND + SIDECAR

FULL-TIME INVESTMENT TEAM > HIRING ONE CHINESE IN SAN FRANCISCO

Joshua Siegel General Partner

New York

• General Partner of Georgetown Angels (former) • Director of Market Intelligence at Citicorp Debt Capital Markets • Manager Eastern European Banking Platform at Citibank • Established successful real-estate business in 2002 – focusing on Historic Real Estate development • Became an active angel investor and board advisor in 2007 in New York • Mentor at Entrepreneurs Roundtable Accelerator (ERA) in New York City • Mentor at StartupBootCamp Fintech NYC • Mentor and Judge at Virtual Enterprises International, Inc. • MBA Georgetown University, BA Boston University and a Degree in Gastronomy from the Institute of Culinary Education in New York.

Andrew Romans General Partner

San Francisco

• General Partner of Georgetown Angels (former), The Founders Club & Georgetown Venture Partners • Author of best selling book on Venture Capital (McGraw Hill), finishing new book on CVC in coming weeks • Founder & President of The Global TeleExchange (The GTX), a $50M venture-backed telecom VoIP venture • Managing Director EMEA at VC-backed Sentito Networks (acquired by Verso Technologies), Sales Director at VC-backed Motive Communications (NASDAQ IPO) • Began career in 1993 working in the UNIX computing industry • Fluent in English, German & French, conversant in Czech & Slovak • MBA in Finance Georgetown University on scholarship, BA University of Vermont

• Technology Investment Banking Analyst at Cowen and Company in New York (former) • Sales Intern at Barclays IPRS Group in New York • Business Development Intern at WePay, a finch startup in Palo Alto backed by August Capital, Highland Capital and YC • Three year member of the Boston College Venture Competition while an undergrad • BS in Finance, Minor in International Studies for Management with a focus on Eastern Europe, Cum Laude

Mat Kaliski Associate New York

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17 VENTURE PARTNERS AND GROWING

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• Board Member, Adveq, $5.5 billion venture capital fund of funds, retired MD, founder of Adveq’s European business

• Chairman Board of Trustees of Swiss pension fund Alvoso

• Member of the Board of Northern Horizon Capital, a Danish real estate fund with EUR 1,5bn+ assets under management

• General Partner, Mohr Davidow Ventures • Venture Partner, Morgan Stanley Venture Partners • CEO, Zip2 (Elon Musk's 1st company), sold for $307m

cash • CEO, LensVector, raised $37.5m VC funding • Stanford University, MBA, MS, BS, BA

André Jaeggi Zurich, Switzerland

Derek Proudian Silicon Valley, CA

• CEO of multiple technology companies, raised over $500 million, including private equity, IPOs in U.S. and E.U., and secondary follow-on and PIPE transactions while growing market capitalizations from $15 million to $1.7 billion

• Recognized expert in Board Governance

•Early employee & Vice-President of Worldwide Sales, Software-Defined Storage at VMware

•Head of M&A at Patni Systems ($200m revenues) •Stanford EE, Harvard MBA

Larry Stambaugh San Diego, CA

Parag Patel Silicon Valley, CA

• EMEA Director at LinkedIn, leading team spanning 20+ markets. Part of the LinkedIn EMEA LMS Leadership team

• Previously VP Online at IDG Sweden, including investments for IDG Ventures in the Nordics

• Previously Editor-in-Chief and Publisher, IT and biotech

• MBA from INSEAD

• Chief of Staff, Legal Department, Goldman Sachs • Managing Director, New Business Development, Corporate Executive Board

• Founding Partner, The Forefront Law Group • Williams College, Harvard Law Fredrik Bernsel

London, UKDonald Carlson

New York, NY

17 VENTURE PARTNERS AND GROWING

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• Chairman and Managing Partner, WM Partners Inc. Japan • CEO and Chairman, Japan Asia Investment Co.., Ltd • Member of the Investment Committee , DBJ Capital • Member of the Board, JVCA • Keio University, B.A. in Law

• Chairman, Swiss San Francisco Chamber of Commerce • Professor of Venture Capital, University of Santa Clara • Advisor to VC funds & VC backed startups:

Ecosystem Ventures, Natural Ma, Neurotune, Hera Biomedical, Prionics, Hyseq/Nuvelo • Professor, Johns Hopkins University School of

Medicine

Moriyoshi Matsumoto Tokyo, Japan

Fabio Rupp Silicon Valley, CA

• Counsel at Palantir Technologies • Jacobson Fellow of Social Entrepreneurship at NYU

Law • Advisor/GC, AGI Partners • Portfolio Manager, Archangel Venture Capital • Previously practiced at Shearman & Sterling LLP • New York University School of Law

• Managing Director - Jones Lang LaSalle • President - Cornish & Carey Commercial • Executive Vice President • CB Richard Ellis • Founder of real estate private equity fund • Stanford University

Shawn Pelsinger New York, NY

Erik Doyle Silicon Valley, CA

• President, LATISTA-Textura (NYSE: TXTR) • Co-founder and CEO, LATISTA, mobile cloud

software (Acq. by NYSE: TXTR) • Senior VP, NIC, Inc. (NASDAQ: EGOV), successful IPO • Senior Manager, IBM, ran $300m distribution channel • MBA, Georgetown University McDonough School of

Business • Awarded patent and patents pending, mobile

solutions area

• Founder and CEO of ServeMeNow • Senior Sales and Product Management at Siebel

Systems • Senior Sales and Product Management at Silicon

Graphics • Product Line Manager & Senior Account Executive

Oracle Corporation • Product Marketing Hewlett-Packard • BS Stanford University Electrical Engineering

Christopher Ramsey New York, NY

Don Galles London, UK

17 VENTURE PARTNERS AND GROWING

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• EIR at Blackstone NC • Former CEO of Yap, VC backed cloud computing

company acquired by Amazon.com • 10 years at IBM, Program Director at Pervasive

Computing • Serves on advisory boards at Pennsylvania State

University & University of North Carolina • LP at DreamIt Ventures • Eisenhower Fellow & Truman National Security Fellow

Igor Jablokov Raleigh, NC & Charleston,

SC

Amos Ben-Meir Silicon Valley, CA

• Member Investor at Sand Hill Angels • Serial silicon valley startup technologist - 6 startups

of which 4 had successful exits, most recent one in 2012 • Founder & VP Engineering at Veloce Technologies

(Acquired by Applied Micro in 2012) • Managed small to large 100+ engineering teams at

AMD, Redback Networks / Siara Systems (acquired by Ericsson), AppliedMicro / Veloce Technologies, Agami Systems & Tera Microsystems • Led engineering teams at National Semiconductor in

Israel & Silicon Valley • B.S. Technion - Israel Institute of Technology

• Founder and CEO, CrankWheel • Partner, Investa angel fund • Senior Staff Software Engineer at Google (9+ years), Tech

Lead for teams in Google Desktop, Toolbar and Chrome • Senior Engineer at GreenBorder, acquired by Google • Co-founder, CTO

Michael Lucente New York, NY

Jói Sigurðsson Iceland & Silicon Valley

• CEO, Decision Machine • Former Managing Director, Merril Lynch • Early Investor in Facebook • Former manager of a $5bn family office • 30+ years of experience in international finance • Advisor, investor and board member at several companies

and funds

Greg Schmergel Boston, MA

• Cofounder and CEO, Nantero, Inc. • Raised over $90m in VC funding from Globespan, CRV, DFJ,

etc. • Former SVP, Strategy, About.com • Former Founder & CEO, ExpertCentral.com • Board Member, Massachusetts Technology Leadership

Council • Winner, Ernst & Young Entrepreneur of the Year, New

England, Emerging Technology, 2006 • Judge in business plan competitions such as

MassChallenge, MIT Business Plan Competition • MBA, Harvard Business School

FIRST TRIP TO CHINA WAS AMAZING!

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http://s613.photobucket.com/user/Andrew_Romans/library/

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WELCOME SIGN WITH MY NAME ON SIDE OF BUILDING

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PLANS FOR CHINA

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1) Raise LP dollars from Chinese LPs

2) Introduce our existing portfolio companies to them for growth in China

3) Recruit Chinese (PRC natives) team for Rubicon China

4) Raise Rubicon China RMB Fund and launch Mirror

www.mirror.vc

RUBICON VENTURE CAPITAL

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In the centuries since Julius Caesar led a Roman legion across the Rubicon River, “crossing the Rubicon” has become synonymous with irrevocably committing oneself to a bold and revolutionary course of action. At Rubicon we’re committed to revolutionizing venture capital and building an enduring VC franchise.

ANDREW@RUBICON.VC