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Future of Venture — Confidential
Future of Venture
Webinar
Transpose Platform Management, LLC
June 2022
Future of Venture — Confidential 2
Important Disclosure
(1/2)
This investor update is furnished on a confidential basis exclusively to its intended recipient (“you” or the “Recipient”) and is not for redistribution or public use. The data and information presented are for
informational purposes only. The information contained herein should be treated in a confidential manner and may not be transmitted, reproduced or used in whole or in part for any other purpose, nor may it
be disclosed without the prior written consent of TI Platform Fund. By accepting this material, the Recipient agrees not to distribute or provide this information to any other person. The information is
qualified in its entirety by reference to the respective TI Platform Fund investment vehicle’s governing documents (the “Fund Documents”).
YOU SHOULD MAKE YOUR OWN DECISION WHETHER ANY TI PLATFORM FUND INVESTMENT VEHICLE MEETS YOUR INVESTMENT OBJECTIVES AND RISK TOLERANCE LEVEL. SHARES IN ANY TI
PLATFORM FUND INVESTMENT VEHICLE (THE “INTERESTS”) ARE OFFERED ONLY TO QUALIFIED INVESTORS. SUCH SHARES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED, (the “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF BY AN
INVESTOR. NEITHER THE US SECURITIES AND EXCHANGE COMMISSION (“SEC”), ANY STATE SECURITIES COMMISSION, OR ANY OTHER REGULATORY AGENCY OR GOVERNMENTAL AUTHORITY
HAS: (I) REVIEWED THE DISCLOSURES INCLUDED HEREIN; (II) APPROVED, DISAPPROVED, ENDORSED OR RECOMMENDED THESE SECURITIES; OR (III) PASSED UPON THE ADEQUACY OR ACCURACY
OF THE FUND DOCUMENTS. NO INDEPENDENT PERSON HAS REVIEWED OR CONFIRMED THE ACCURACY OR TRUTHFULNESS OF THIS DISCLOSURE, NOR WHETHER IT IS COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
AN INVESTMENT IN THESE INTERESTS INVOLVES SIGNIFICANT RISKS. ONLY INVESTORS WHO CAN BEAR THE ECONOMIC RISK OF THE INVESTMENT FOR AN INDEFINITE PERIOD OF TIME AND THE
LOSS OF THEIR ENTIRE INVESTMENT SHOULD INVEST IN THE SECURITIES.
This investor update shall not constitute an offer to sell or the solicitation of any offer to buy Interests, which may only be made at the time a qualified offeree receives the Fund Documents describing the
offering and related subscription agreement. These securities shall not be offered or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful until the requirements of the laws of such
jurisdiction have been satisfied.
Any decision to invest in a TI Platform Fund investment vehicle should be made only after carefully reviewing the Fund Documents, conducting such inquiries and investigations as you deem necessary, and
consulting with your own legal, accounting and tax advisors in order to make an independent determination of the suitability, risk and merits of investing with TI Platform Fund.
The information in this investor update is only as current as of the date indicated and may be superseded by subsequent market events or for other reasons. Nothing contained herein constitutes investment,
legal, tax or other advice nor is it to be relied on in making an investment or other decision. This investor update should not be viewed as a current or past recommendation or a solicitation of an offer to buy
or sell any securities or to adopt any investment strategy.
Private funds, such as the TI Platform Fund investment vehicles, are speculative investments and are not suitable for all investors, nor do they represent a complete investment program. Private funds are
available only to qualified investors who are comfortable with the substantial risks associated with investing in private funds and who are able to withstand a total loss of invested capital. An investment in a
private fund includes the risks inherent in an investment in securities. There can be no assurance that an investment strategy will be successful and investment results may vary substantially over time.
Economic, market and other conditions could also cause the Fund to alter its investment objectives, guidelines and restrictions. Nothing herein is intended to imply that TI Platform Fund’s investment
methodologies may be considered “conservative”, “safe”, “risk free” or “risk averse.”
Investors in a TI Platform Fund investment vehicle may have no right to or a limited right to redeem or transfer their interests in such investment vehicle. No Interests will be listed on an exchange and it is not
expected that there will be a secondary market for any Interests.
Future of Venture — Confidential 3
Important Disclosure
(2/2)
Please note that for fiscal reporting purposes, reporting for underlying portfolio companies represent gross IRR while overall TIPL Fund reporting represents net IRR. Below you will find definitions for gross
and net IRR:
Gross IRR of an underlying manager represents the cumulative investment-related cash flows (i) for a given investment for the fund or funds which made such investment, and (ii) for a given fund, in the
relevant fund itself (and not any one investor in the fund), in each case, on the basis of the actual timing of investment inflows and outflows (for unrealized investments assuming disposition at the end of the
relevant fiscal quarter or other date specified) aggregated on a gross basis quarterly, and the return is annualized and compounded before management fees, carried interest and certain other fund expenses
(including interest incurred by the fund itself) and measures the returns on the fund’s investments as a whole without regard to whether all of the returns would, if distributed, be payable to the fund’s
investors. In addition, gross IRRs at the fund level differ from those at the individual investor level as a result of, among other factors, timing of investor-level inflows and outflows. Gross IRR does not
represent the return to any fund investor.
Net IRR of an underlying manager means the gross IRR applicable to a fund, including returns for related parties which may not pay fees or carried interest, net of management fees, certain fund expenses
(including interest incurred or earned by the fund itself) and realized carried interest all offset to the extent of interest income, and measures returns at the fund level on amounts that, if distributed, would be
paid to investors of the fund. To the extent that a fund exceeds all requirements detailed within the applicable fund agreement, the estimated unrealized value is adjusted such that a certain percentage of
the unrealized gain is allocated to the general partner of such fund, thereby reducing the balance attributable to fund investors. In addition, net IRR at the fund level will differ from that at the individual
investor level as a result of, among other factors, timing of investor-level inflows and outflows. Net IRR does not represent the return to any fund investor.
FMV of Investments is based on assumptions and is calculated primarily on undistributed returns only. FMV does not include the deduction of fees which are fully described in offering documents and the
Firm's Form ADV. Please see prior slide for presentation of net and gross returns. There can be no assurance that the Fund will be successful in obtaining the FMV when liquidating the portfolio.
The information in this investor update may contain projections or other forward-looking statements regarding future events, targets or expectations regarding the investment vehicles and the strategies
described herein and is only current as of the date indicated. There is no assurance that such events or targets will be achieved and may be significantly different from that shown here. The information in this
investor update, including any statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other
reasons.
Certain information contained herein has been obtained or derived from unaffiliated third-party sources believed by TI Platform Fund to be reliable. Neither TI Platform Fund nor any of its affiliates or
representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein.
General discussions contained within this presentation regarding the market or market conditions represent the view of either the source cited or TI Platform Fund. Nothing contained herein is intended to
predict the performance of any investment. There can be no assurance that actual outcomes will match the assumptions or that actual returns will match any expected returns. The information contained
herein is subject to change, and TI Platform Fund assumes no obligation to update the information herein.
Future of Venture — Confidential 4
Transpose Platform empowers entrepreneurs
with capital, creativity, and counsel to build
anything from the next breakout company to
entire factories of companies at internet scale.
“With our focus on company formation, Transpose
Platform aims to be a partner for institutional
investors for deployment into true early stage and
formation stage”
TI Platform Management, LLC was founded in 2015 and headquartered in Texas. TI Platform Management, LLC is SEC registered. Registration is not an endorsement
or recommendation by the SEC.
Confidential – Past Performance does not guarantee future results. There is no guarantee investment objectives will be achieved
Transpose Platform is a global formation stage venture capital firm partnering with exceptional founders
throughout their journey.
15+ Formation & accelerator platforms
1000+ Companies founded
15+ Board seats
70+ Companies supported directly
75+ Founders as Board, Chairman, Incubation
67 Unicorns & 4 Decacorns in our portfolio
Future of Venture — Confidential
Strong Network of Founders focused on Formation
Build a
Company
Build Multiple
Companies
Fund
or Studio
Build Companies
Network, Platform
& Accelerator
Funds
Build Platforms
Jack
Abraham
Tiago
Paiva
Ryan
Gilbert
Garry
Tan
Binny
Bansal
Hilary
Coles
Alexis
Ohanian
Eli
Broverman
Justin
Kan
Khaled Hussain Jason
Lemkin
Michael Suswal Gokul
Rajaram
Subrata Mitra
Andy
Dunn
Sid
Viswanathan
Partners with founders building companies Invest in venture funds started by prominent entrepreneurs
Girish Mathrubootham
Jeff
Cruttenden
5
Future of Venture — Confidential 6
Early
stage
Growth
stage
Late
stage
Public
equities
“LPs will invest into
The Sequoia Fund, an
open-ended liquid
portfolio made of public
positions”
“Asset managers
have begun to
invest more
aggressively in
private markets”
Fidelity, T. Rowe
Sequoia
Tiger
Andreessen
Early-stage to public
equities
Public equities to
early-stage
Early-stage to public
equities
Public equities to
early-stage
“Tiger”ization
Investment funds have evolved into multi-stage managers
Future of Venture — Confidential
This is a sample text.
Insert your desired text
here. This is a sample
text. Insert your desired
text here.
Recruiters
“Asset
managers have
begun to invest
more
aggressively in
private
markets”
VC Fund
Manager
Hedge
Fund
SPVs
Multi-stage
Funds
Rolling Funds
Asset class Investor
Scout Funds
Founders
Operators
Opportunity
Funds
Historically, VC Was a Bespoke Asset Class – Today,
Everybody is a VC
7
Future of Venture — Confidential 8
Global venture-capital activity ($Bn)
- by type of investor
Source: The Economist
Hybrid VC:
(Public/Private)
New Sequoia
Emerging
Managers:
The new old
Sequoia
Traditional VC:
Sequoia 25 Years
ago
From Relationship Capital to Transactional Capital
Many of today's VC investors are not classic VC firms, and when large VC firms become hybrid investors, a
gap is created that will be filled by emerging VC managers
VENTURE IS NO LONGER A “ACCESS”
CLASS
9
Future of Venture — Confidential
Venture
Capital’s
Pendulum
Transactio
nal
Capital
Late
Stag
e
Hand
s
Off
The Venture Capital Pendulum – Where Were We
Recently?
Abundant capital has replaced
due diligence and board seat
participation
Late stage valuations
are unrealistic and will
not follow the power law.
Multi-stage, multi-billion dollar
AUM VC firms have scaled
beyond reach of entrepreneurs
10
Future of Venture — Confidential
Are
Venture
Capital’s
Pendulum
Hand
s
Off
Valuatio
n
Resets Slower
Deployme
nt
LP
Oversig
ht
The VC Pendulum – Where We Are: The big reset is now
happening
Elevated cost of capital has led to
widespread valuation resets and higher
investor scrutiny – starting first in
public markets and now in private
markets
Future of Venture — Confidential 11
Public Market
Carnage
Source: Yahoo
Finance
BIG TECH STOCKS HIT BY DOUBLE WHAMMY – MAY YTD
PERFORMANCE
COVID TECH STOCKS PERFORMANCE – MAY YTD
The tech-heavy Nasdaq has fallen nearly 30% this year, whereas the U.K.’s FTSE 100 Index, a benchmark tilted toward heavy
industry and commodities, is roughly unchanged. Unprofitable tech companies have fallen about 50%, according to a custom
Goldman Sachs index.
Additionally, tech companies experienced $17B in equity losses in the Q1 as a result of
their aggressive investments in other companies during the extended bull market
COVID caused the prices of numerous shares to hit all-time
highs. Following are some notable names that surged 100
percent or more during the pandemic but have since declined
significantly
Future of Venture — Confidential 12
Crypto
Carnage
Price Drop
$BTC
$ETH
Retail
Crypto Lender
Halted fund
withdrawals
Insolvent
$12B
AUM
$4.8B
valuation
Celsius
Leading
Crypto Hedge
Fund
Margin
Calls
$10B
valuation
BlockFi
Deribit
Finblox
Margin
Providers
Counterpartie
s
Exposed
$10B+
valuation
Crypto
Funds
At least 10
Fund
Investments
by
2AC
Capital Call
Default
Risk
$1B AUM
Tera UST
Luna
~$60B AUM
Margin
Calls
Illiquidity
StEth
Contagion speads and shock waves reverberate from spiraling effects.
3AC
13
Future of Venture — Confidential
Venture
Capital’s
Pendulum
Incubatio
n
Early
Stag
e
Relationsh
ip
Capital
The VC Pendulum – Where We’re Going
Internal incubation of
crypto, web3, and DAOs
New technologies like
Blockchain and DAOs
present
Multi-stage, multi-billion dollar
AUM VC firms have scaled
beyond reach of entrepreneurs
Future of Venture — Confidential 14
Future of Venture From Partnership to Factory
VC 1.0
VC 2.0
VC 3.0
1970 2005 2020 2030 2040 2050
We Are
Here
PARTNERSHIP
MULTI-PR
ODUCT
ACCELERATORS
&
STUDIOS
STARTUP
CREATION
PROTOCOLS DECENTRALIZED
AUTONOMOUS ORGS
PRIVATE
PUBLIC
Future of Venture — Confidential 15
Factories of Startups – Industrialising the company creation
process
Today, there are start-ups factories that, like Toyota, are creating innovations. These factories combine craft and mass
production.
Capital
+
Co-founder/
Talent
3
2
1 4 5 6
Capital
+
Idea Generation
&
MVP
Capital
+
Design
Customers
(POC & Commercial
Agreements)
Capital
+
Build Out
Management
&
Recruit CEO
Capital
+
GTM & build
Commercial
team
Capital
+
Compa
ny
Future of Venture — Confidential 16
Venture Ingredients
Price Discipline
Value Creation
Finding Alpha
Invest in Builders
Governance
Leadership
Conviction
Authenticity
Thinking Big
Missionaries
Transpose Investment
Principles
1
2
3
4
5
6
7
8
9
10
VS
Quick Deployment
Speculation
Big Money
Limited Diligence
Chasing Beta
Hands Off Investing
Price Insensitivity
Mercenaries
Solo Capitalists
Investor Ego
VC Principles in 2020-2021
1
2
3
4
5
6
7
8
9
10
Future of Venture — Confidential
Transpose Platform is focused on formation Investing
Factories of
Startups / Studios
API Based
Funds
Chairman
Program
Platform
Funds
• Building start ups at internet scale.
• Largest investor in EF and partner in other prominent “startup” factories.
• Supply Proprietary information regarding which companies are gaining traction before
traditional investors
• Track startup growth at the earliest stages
• Invest in founders that are advising and mentoring the next generation of
founders
• Build companies in-house with engineers and founders as chairman
• Build multiple companies and helps LPs invest directly with founders / builders
• Enable Repeat entrepreneurs to build companies with likelihood of higher success
• Building decentralized value & staking in other protocols
• Investing in formation funds which have spun up their own DAOs (SPC & others)
and DAO-native venture communities
17
DAO’s
Future of Venture — Confidential 18
Transpose Partners Across A Founders Journey
Build a
Company
Build Multiple
Companies
Incubation
Deeply Involved in Select
Companies
Founders have a number of different paths
Form a VC Fund
Invest in companies
Builds their first
startup learning
how to operate and
grow a company
Decides to build another
company or invest and go
the VC route
Invests in few deals but takes
an active role as co-founder
or advisor
Forms a VC fund
focused on investing
with a strategy
Builders Mentors
Founder Studio Chairman VC Platform
VC Focus LP Focus
No Optimal
Partner
Future of Venture — Confidential
Cryptocurrencies represent a novel
mechanism for incentivizing action.
19
Blockchain Technology is the Future of the Internet1
Blockchain disintermediates traditional
forms of communication and
organization.
Blockchain software is globally
accessible from anywhere and at any
time.
$22.5T
Financial
Services2
$1T
$7.5T
Media &
Entertainment2
Total market
capitalization of all
cryptocurrencies
1
Representative of Transpose view.
2
Represents global market size in 2021.
Source: Globe Newswire. CoinMarketCap, as of April 24, 2022.
$1T
Market cap of all
cryptocurrencies
The largest incumbents across all verticals are adopting Web 3.0 technologies into their
business.
Expansive whitespace
to disrupt & enable
commercial
enterprise
Future of Venture — Confidential 20
DAOs empower the startup community to drive the
platform, akin to the current cohort of incubators and
accelerators
Startup Factories
DAO formation tools provide valuable
analytics and infrastructure for spinning up
companies in Web3
DAOs have emerged as the formation arena in Web3
Formation Infrastructure
European Web3 startup
ecosystem
Community for technologists
Community of YC alumni
Web3-native accelerator at
forefront of DAO technologies
Purpose-built formation
tooling for DAO verticals
Platform for DAO governance
Formation tooling for
communities
All-in-one formation
tooling for investment
clubs
Future of Venture — Confidential 21
Thank You
Alex Bangash
alex@transposeplatform.vc
(732) 685-8060
Trang Nguyen
trang@transposeplatform.v
c
(415) 812-7618

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In Conversation with Alex Bangash (TI Platform) & Trang Nguyen (Transpose Platform), Factory of Startups and the Future of Venture Capital

  • 1. Future of Venture — Confidential Future of Venture Webinar Transpose Platform Management, LLC June 2022
  • 2. Future of Venture — Confidential 2 Important Disclosure (1/2) This investor update is furnished on a confidential basis exclusively to its intended recipient (“you” or the “Recipient”) and is not for redistribution or public use. The data and information presented are for informational purposes only. The information contained herein should be treated in a confidential manner and may not be transmitted, reproduced or used in whole or in part for any other purpose, nor may it be disclosed without the prior written consent of TI Platform Fund. By accepting this material, the Recipient agrees not to distribute or provide this information to any other person. The information is qualified in its entirety by reference to the respective TI Platform Fund investment vehicle’s governing documents (the “Fund Documents”). YOU SHOULD MAKE YOUR OWN DECISION WHETHER ANY TI PLATFORM FUND INVESTMENT VEHICLE MEETS YOUR INVESTMENT OBJECTIVES AND RISK TOLERANCE LEVEL. SHARES IN ANY TI PLATFORM FUND INVESTMENT VEHICLE (THE “INTERESTS”) ARE OFFERED ONLY TO QUALIFIED INVESTORS. SUCH SHARES HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, (the “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF BY AN INVESTOR. NEITHER THE US SECURITIES AND EXCHANGE COMMISSION (“SEC”), ANY STATE SECURITIES COMMISSION, OR ANY OTHER REGULATORY AGENCY OR GOVERNMENTAL AUTHORITY HAS: (I) REVIEWED THE DISCLOSURES INCLUDED HEREIN; (II) APPROVED, DISAPPROVED, ENDORSED OR RECOMMENDED THESE SECURITIES; OR (III) PASSED UPON THE ADEQUACY OR ACCURACY OF THE FUND DOCUMENTS. NO INDEPENDENT PERSON HAS REVIEWED OR CONFIRMED THE ACCURACY OR TRUTHFULNESS OF THIS DISCLOSURE, NOR WHETHER IT IS COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL. AN INVESTMENT IN THESE INTERESTS INVOLVES SIGNIFICANT RISKS. ONLY INVESTORS WHO CAN BEAR THE ECONOMIC RISK OF THE INVESTMENT FOR AN INDEFINITE PERIOD OF TIME AND THE LOSS OF THEIR ENTIRE INVESTMENT SHOULD INVEST IN THE SECURITIES. This investor update shall not constitute an offer to sell or the solicitation of any offer to buy Interests, which may only be made at the time a qualified offeree receives the Fund Documents describing the offering and related subscription agreement. These securities shall not be offered or sold in any jurisdiction in which such offer, solicitation or sale would be unlawful until the requirements of the laws of such jurisdiction have been satisfied. Any decision to invest in a TI Platform Fund investment vehicle should be made only after carefully reviewing the Fund Documents, conducting such inquiries and investigations as you deem necessary, and consulting with your own legal, accounting and tax advisors in order to make an independent determination of the suitability, risk and merits of investing with TI Platform Fund. The information in this investor update is only as current as of the date indicated and may be superseded by subsequent market events or for other reasons. Nothing contained herein constitutes investment, legal, tax or other advice nor is it to be relied on in making an investment or other decision. This investor update should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. Private funds, such as the TI Platform Fund investment vehicles, are speculative investments and are not suitable for all investors, nor do they represent a complete investment program. Private funds are available only to qualified investors who are comfortable with the substantial risks associated with investing in private funds and who are able to withstand a total loss of invested capital. An investment in a private fund includes the risks inherent in an investment in securities. There can be no assurance that an investment strategy will be successful and investment results may vary substantially over time. Economic, market and other conditions could also cause the Fund to alter its investment objectives, guidelines and restrictions. Nothing herein is intended to imply that TI Platform Fund’s investment methodologies may be considered “conservative”, “safe”, “risk free” or “risk averse.” Investors in a TI Platform Fund investment vehicle may have no right to or a limited right to redeem or transfer their interests in such investment vehicle. No Interests will be listed on an exchange and it is not expected that there will be a secondary market for any Interests.
  • 3. Future of Venture — Confidential 3 Important Disclosure (2/2) Please note that for fiscal reporting purposes, reporting for underlying portfolio companies represent gross IRR while overall TIPL Fund reporting represents net IRR. Below you will find definitions for gross and net IRR: Gross IRR of an underlying manager represents the cumulative investment-related cash flows (i) for a given investment for the fund or funds which made such investment, and (ii) for a given fund, in the relevant fund itself (and not any one investor in the fund), in each case, on the basis of the actual timing of investment inflows and outflows (for unrealized investments assuming disposition at the end of the relevant fiscal quarter or other date specified) aggregated on a gross basis quarterly, and the return is annualized and compounded before management fees, carried interest and certain other fund expenses (including interest incurred by the fund itself) and measures the returns on the fund’s investments as a whole without regard to whether all of the returns would, if distributed, be payable to the fund’s investors. In addition, gross IRRs at the fund level differ from those at the individual investor level as a result of, among other factors, timing of investor-level inflows and outflows. Gross IRR does not represent the return to any fund investor. Net IRR of an underlying manager means the gross IRR applicable to a fund, including returns for related parties which may not pay fees or carried interest, net of management fees, certain fund expenses (including interest incurred or earned by the fund itself) and realized carried interest all offset to the extent of interest income, and measures returns at the fund level on amounts that, if distributed, would be paid to investors of the fund. To the extent that a fund exceeds all requirements detailed within the applicable fund agreement, the estimated unrealized value is adjusted such that a certain percentage of the unrealized gain is allocated to the general partner of such fund, thereby reducing the balance attributable to fund investors. In addition, net IRR at the fund level will differ from that at the individual investor level as a result of, among other factors, timing of investor-level inflows and outflows. Net IRR does not represent the return to any fund investor. FMV of Investments is based on assumptions and is calculated primarily on undistributed returns only. FMV does not include the deduction of fees which are fully described in offering documents and the Firm's Form ADV. Please see prior slide for presentation of net and gross returns. There can be no assurance that the Fund will be successful in obtaining the FMV when liquidating the portfolio. The information in this investor update may contain projections or other forward-looking statements regarding future events, targets or expectations regarding the investment vehicles and the strategies described herein and is only current as of the date indicated. There is no assurance that such events or targets will be achieved and may be significantly different from that shown here. The information in this investor update, including any statements concerning financial market trends, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. Certain information contained herein has been obtained or derived from unaffiliated third-party sources believed by TI Platform Fund to be reliable. Neither TI Platform Fund nor any of its affiliates or representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein. General discussions contained within this presentation regarding the market or market conditions represent the view of either the source cited or TI Platform Fund. Nothing contained herein is intended to predict the performance of any investment. There can be no assurance that actual outcomes will match the assumptions or that actual returns will match any expected returns. The information contained herein is subject to change, and TI Platform Fund assumes no obligation to update the information herein.
  • 4. Future of Venture — Confidential 4 Transpose Platform empowers entrepreneurs with capital, creativity, and counsel to build anything from the next breakout company to entire factories of companies at internet scale. “With our focus on company formation, Transpose Platform aims to be a partner for institutional investors for deployment into true early stage and formation stage” TI Platform Management, LLC was founded in 2015 and headquartered in Texas. TI Platform Management, LLC is SEC registered. Registration is not an endorsement or recommendation by the SEC. Confidential – Past Performance does not guarantee future results. There is no guarantee investment objectives will be achieved Transpose Platform is a global formation stage venture capital firm partnering with exceptional founders throughout their journey. 15+ Formation & accelerator platforms 1000+ Companies founded 15+ Board seats 70+ Companies supported directly 75+ Founders as Board, Chairman, Incubation 67 Unicorns & 4 Decacorns in our portfolio
  • 5. Future of Venture — Confidential Strong Network of Founders focused on Formation Build a Company Build Multiple Companies Fund or Studio Build Companies Network, Platform & Accelerator Funds Build Platforms Jack Abraham Tiago Paiva Ryan Gilbert Garry Tan Binny Bansal Hilary Coles Alexis Ohanian Eli Broverman Justin Kan Khaled Hussain Jason Lemkin Michael Suswal Gokul Rajaram Subrata Mitra Andy Dunn Sid Viswanathan Partners with founders building companies Invest in venture funds started by prominent entrepreneurs Girish Mathrubootham Jeff Cruttenden 5
  • 6. Future of Venture — Confidential 6 Early stage Growth stage Late stage Public equities “LPs will invest into The Sequoia Fund, an open-ended liquid portfolio made of public positions” “Asset managers have begun to invest more aggressively in private markets” Fidelity, T. Rowe Sequoia Tiger Andreessen Early-stage to public equities Public equities to early-stage Early-stage to public equities Public equities to early-stage “Tiger”ization Investment funds have evolved into multi-stage managers
  • 7. Future of Venture — Confidential This is a sample text. Insert your desired text here. This is a sample text. Insert your desired text here. Recruiters “Asset managers have begun to invest more aggressively in private markets” VC Fund Manager Hedge Fund SPVs Multi-stage Funds Rolling Funds Asset class Investor Scout Funds Founders Operators Opportunity Funds Historically, VC Was a Bespoke Asset Class – Today, Everybody is a VC 7
  • 8. Future of Venture — Confidential 8 Global venture-capital activity ($Bn) - by type of investor Source: The Economist Hybrid VC: (Public/Private) New Sequoia Emerging Managers: The new old Sequoia Traditional VC: Sequoia 25 Years ago From Relationship Capital to Transactional Capital Many of today's VC investors are not classic VC firms, and when large VC firms become hybrid investors, a gap is created that will be filled by emerging VC managers VENTURE IS NO LONGER A “ACCESS” CLASS
  • 9. 9 Future of Venture — Confidential Venture Capital’s Pendulum Transactio nal Capital Late Stag e Hand s Off The Venture Capital Pendulum – Where Were We Recently? Abundant capital has replaced due diligence and board seat participation Late stage valuations are unrealistic and will not follow the power law. Multi-stage, multi-billion dollar AUM VC firms have scaled beyond reach of entrepreneurs
  • 10. 10 Future of Venture — Confidential Are Venture Capital’s Pendulum Hand s Off Valuatio n Resets Slower Deployme nt LP Oversig ht The VC Pendulum – Where We Are: The big reset is now happening Elevated cost of capital has led to widespread valuation resets and higher investor scrutiny – starting first in public markets and now in private markets
  • 11. Future of Venture — Confidential 11 Public Market Carnage Source: Yahoo Finance BIG TECH STOCKS HIT BY DOUBLE WHAMMY – MAY YTD PERFORMANCE COVID TECH STOCKS PERFORMANCE – MAY YTD The tech-heavy Nasdaq has fallen nearly 30% this year, whereas the U.K.’s FTSE 100 Index, a benchmark tilted toward heavy industry and commodities, is roughly unchanged. Unprofitable tech companies have fallen about 50%, according to a custom Goldman Sachs index. Additionally, tech companies experienced $17B in equity losses in the Q1 as a result of their aggressive investments in other companies during the extended bull market COVID caused the prices of numerous shares to hit all-time highs. Following are some notable names that surged 100 percent or more during the pandemic but have since declined significantly
  • 12. Future of Venture — Confidential 12 Crypto Carnage Price Drop $BTC $ETH Retail Crypto Lender Halted fund withdrawals Insolvent $12B AUM $4.8B valuation Celsius Leading Crypto Hedge Fund Margin Calls $10B valuation BlockFi Deribit Finblox Margin Providers Counterpartie s Exposed $10B+ valuation Crypto Funds At least 10 Fund Investments by 2AC Capital Call Default Risk $1B AUM Tera UST Luna ~$60B AUM Margin Calls Illiquidity StEth Contagion speads and shock waves reverberate from spiraling effects. 3AC
  • 13. 13 Future of Venture — Confidential Venture Capital’s Pendulum Incubatio n Early Stag e Relationsh ip Capital The VC Pendulum – Where We’re Going Internal incubation of crypto, web3, and DAOs New technologies like Blockchain and DAOs present Multi-stage, multi-billion dollar AUM VC firms have scaled beyond reach of entrepreneurs
  • 14. Future of Venture — Confidential 14 Future of Venture From Partnership to Factory VC 1.0 VC 2.0 VC 3.0 1970 2005 2020 2030 2040 2050 We Are Here PARTNERSHIP MULTI-PR ODUCT ACCELERATORS & STUDIOS STARTUP CREATION PROTOCOLS DECENTRALIZED AUTONOMOUS ORGS PRIVATE PUBLIC
  • 15. Future of Venture — Confidential 15 Factories of Startups – Industrialising the company creation process Today, there are start-ups factories that, like Toyota, are creating innovations. These factories combine craft and mass production. Capital + Co-founder/ Talent 3 2 1 4 5 6 Capital + Idea Generation & MVP Capital + Design Customers (POC & Commercial Agreements) Capital + Build Out Management & Recruit CEO Capital + GTM & build Commercial team Capital + Compa ny
  • 16. Future of Venture — Confidential 16 Venture Ingredients Price Discipline Value Creation Finding Alpha Invest in Builders Governance Leadership Conviction Authenticity Thinking Big Missionaries Transpose Investment Principles 1 2 3 4 5 6 7 8 9 10 VS Quick Deployment Speculation Big Money Limited Diligence Chasing Beta Hands Off Investing Price Insensitivity Mercenaries Solo Capitalists Investor Ego VC Principles in 2020-2021 1 2 3 4 5 6 7 8 9 10
  • 17. Future of Venture — Confidential Transpose Platform is focused on formation Investing Factories of Startups / Studios API Based Funds Chairman Program Platform Funds • Building start ups at internet scale. • Largest investor in EF and partner in other prominent “startup” factories. • Supply Proprietary information regarding which companies are gaining traction before traditional investors • Track startup growth at the earliest stages • Invest in founders that are advising and mentoring the next generation of founders • Build companies in-house with engineers and founders as chairman • Build multiple companies and helps LPs invest directly with founders / builders • Enable Repeat entrepreneurs to build companies with likelihood of higher success • Building decentralized value & staking in other protocols • Investing in formation funds which have spun up their own DAOs (SPC & others) and DAO-native venture communities 17 DAO’s
  • 18. Future of Venture — Confidential 18 Transpose Partners Across A Founders Journey Build a Company Build Multiple Companies Incubation Deeply Involved in Select Companies Founders have a number of different paths Form a VC Fund Invest in companies Builds their first startup learning how to operate and grow a company Decides to build another company or invest and go the VC route Invests in few deals but takes an active role as co-founder or advisor Forms a VC fund focused on investing with a strategy Builders Mentors Founder Studio Chairman VC Platform VC Focus LP Focus No Optimal Partner
  • 19. Future of Venture — Confidential Cryptocurrencies represent a novel mechanism for incentivizing action. 19 Blockchain Technology is the Future of the Internet1 Blockchain disintermediates traditional forms of communication and organization. Blockchain software is globally accessible from anywhere and at any time. $22.5T Financial Services2 $1T $7.5T Media & Entertainment2 Total market capitalization of all cryptocurrencies 1 Representative of Transpose view. 2 Represents global market size in 2021. Source: Globe Newswire. CoinMarketCap, as of April 24, 2022. $1T Market cap of all cryptocurrencies The largest incumbents across all verticals are adopting Web 3.0 technologies into their business. Expansive whitespace to disrupt & enable commercial enterprise
  • 20. Future of Venture — Confidential 20 DAOs empower the startup community to drive the platform, akin to the current cohort of incubators and accelerators Startup Factories DAO formation tools provide valuable analytics and infrastructure for spinning up companies in Web3 DAOs have emerged as the formation arena in Web3 Formation Infrastructure European Web3 startup ecosystem Community for technologists Community of YC alumni Web3-native accelerator at forefront of DAO technologies Purpose-built formation tooling for DAO verticals Platform for DAO governance Formation tooling for communities All-in-one formation tooling for investment clubs
  • 21. Future of Venture — Confidential 21 Thank You Alex Bangash alex@transposeplatform.vc (732) 685-8060 Trang Nguyen trang@transposeplatform.v c (415) 812-7618