Investor Presentation March 2016

Recommendations

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Current Portfolio Allocation Internet, 21% Media & Media Technology, 15% Healthcare, 6% Technology, 23% FinTech, 10% Cash, 15% Other, 11% Note: Fair values. List does not include all investments. 14
Exits to date Positive exits: • Amaya (PIPE) – Gain of ~75% • Aurinia – Gain of ~150% • BTI – Details TBA publicly • Chieftain Real Estate – Gain of ~25% • Enterprise (PIPE) – Gain of ~100% • Guestlogix (PIPE) – Gain of ~25% • Infraredx – Gain of ~25% Other Major Exits • Lignol – Cash recovery of $5+ million • WorldGaming – Cash recovery of $6+ million Note: Rounded, unaudited numbers. Some figures may be estimates. Includes FX impact. 15
Page 1 and 2: Investor Presentation March 2016 Di
Page 3 and 4: Agenda • Why look at DCF? • DCF
Page 5 and 6: DCF at a Glance (December 31, 2015)
Page 7 and 8: The DCF Investment Thesis • Canad
Page 9 and 10: Our Thesis is Clearly Playing Out 2
Page 11 and 12: The Portfolio - IPO Class Names Tec
Page 13: Portfolio Evolution December 2013 D
Page 17 and 18: The risks of VC/PE investing? • H
Page 19 and 20: DCF Valuation Considerations $4.00
Page 21 and 22: BuildDirect • BuildDirect Marketp
Page 23 and 24: Vision Critical • Vision Critical
Page 25 and 26: Difference RM Real Estate Play •
Page 27 and 28: Other Selected Company Updates Jan
Page 29: 29 Q&A

Investor Presentation March 2016

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