GLYNN CAPITAL MANAGEMENT LLC

The Firm's investment advisory services consist of identifying and evaluating investments in public and private companies in the technology sector, structuring, negotiating, consummating investments on behalf of the Clients, managing and monitoring such investments, and disposing of such investments. GCM pursues a venture-capital investment strategy for some of its Funds, a long-only public equities investment strategy for some of its Funds and a public/private strategy for other Clients. The Separately Managed Accounts employ a long-only public equities investment strategy. In addition, two Separately Managed Accounts managed by the Firm hold a diversified portfolio of the securities of US-based businesses. The Firm employs a fundamental research approach for all strategies.

The Firm employs different investment strategies depending on the type of fund or account. For Venture Funds, they pursue a venture-capital investment strategy. For Public Funds and Separately Managed Accounts, a long-only public equities investment strategy is used. For Hybrid Funds, a public/private strategy is implemented. Two Separately Managed Accounts hold a diversified portfolio of the securities of US-based businesses. The Firm's Public Funds and the majority of its Public Separately Managed Accounts utilize a concentrated long-only investment strategy. This approach focuses on the technology sector and holds a limited number of individual investments, which does not provide diversification to investors. A fundamental research approach is used for all strategies, involving meetings with various stakeholders to evaluate potential investments based on factors like market opportunity, management quality, business model, and competitive advantages.

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