Investment Interests

Osprey Ventures achieves superior financial returns in the highly competitive venture capital business because it:

• focuses on several specific investment sectors: (software, semiconductor, and communications). Osprey has picked these sectors because the firm's investment team (along with its Industry Expert Investors, and Venture Partners) possesses a broad domain expertise that quickly allows the Osprey deal team to analyze the critical issues behind an investment.
• leverages the financing and operating skills of the firm's investment team.
• leverages the expertise of the Osprey management organization.
• leverages the resources of the Managing Directors, their network, and that of the Industry Expert Investors, Advisory Board, and Venture Partners.

To optimize its proprietary deal sourcing capabilities, due diligence skills, and value creation techniques, Osprey has focused on technology companies primarily in the early and expansion-stages of commercial development.

The Fund invests in early-stage companies and provides active, hands-on assistance to the management teams in the operational growth of the business. In addition, the Fund invests in expansion-stage companies and provides active, focused consultation to the management team's rapid value creation. Investing in expansion-stage venture-backed companies is a challenging undertaking.

Expansion stage companies can be a promising area for investment because many of the early and growth stage risks have been reduced and it is possible to identify potential market leading companies with a much greater level of confidence. The expected return multiple for a typical expansion-stage investment is lower than at the early-stage, but the expected holding period for the investment is shorter and the risk of losing the investment is dramatically lower.

The Fund believes that expansion-stage investments may generate returns for investors that may lag behind those for early-stage investments in their very best years but offer investors a degree of predictability in our median returns.

There are a large number of target expansion-stage companies in the Fund's target technology sectors. The financings are competitive, but generally have received less focus from the traditional venture capital community, and the historical and current returns from this investment stage have been very attractive.

In summary, the Fund believes that its "barbell" investment strategy provides a compelling investment philosophy. Our Industry Expert Investors, Advisory Board Members, and Venture Partners provide proprietary deal flow, insight, market and technology validation and operating experience in both our early and expansion stage investments.