Investment Themes

1. Our investments range between $500,000 and $3,000,000, although there are numerous instances where we have helped to arrange or been part of syndicates raising additional financing as needed.

2. We focus on companies that have reasonable prospects of generating $100 million or more in revenues or that have the potential to return five to ten times our invested capital by the end of the fourth or fifth year following our investment.

3. We invest in companies that we feel we can positively impact. Since the capital we invest is our own, we insist on being active investors and frequently take positions on the Board of Directors of the companies in which we invest. We look to provide our experience and insight to help enhance the value of our investment. To each of our portfolio companies, we bring our unique combination of operating experience and financial expertise as well as access to our extensive network of professional contacts.

4. We try to take meaningful stakes in the companies in which we invest so that the capital we provide makes a difference to the entrepreneurs we are backing and the returns we realize make a difference to us.

5. Our expertise and investment experience is in the financial, operating and marketing areas of business and in the biotechnology sector. We only invest in businesses that we are able to understand quickly or in which our expertise and experience provide added value. In recent years, our investments have had two main themes: direct to consumer sales of products or services, and early stage biotechnology investments through our longstanding relationship with Two River Partners, with whom we frequently co-invest.

6. We back leaders and teams who distinguish themselves through their creativity, hard work, integrity and perseverance. In the end, of course, we are in it to win, and we only invest in companies and entrepreneurs who share that same goal.