AFFILIATES

Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP)

BFTP has been working to assist early stage technology companies since 1982 and is one of the most active seed investors in the region, having invested nearly $50 million in more than 300 companies over the past 15 years. BFTP/SEP has played a role in the creation of many of the region’s leading technology companies, and together with the statewide network of Ben Franklin offices, has been recognized as significantly increasing the odds for the young companies it champions.

BFTP/SEP nurtures young companies by actively investing capital, assisting companies with management and mentoring programs and matching companies with qualified investors. As a result of their efforts BFTP/SEP has created a vibrant business network which spans the entire technology startup ecosystem, including angel investor networks, service providers, later-stage venture capital funds and the technology entrepreneur community.

The fund hopes that it will further the mission of BFTP/SEP by providing a source of capital for growth companies that, with the Fund's investment, can continue to develop new technologies and grow and stimulate the economic region supported by BFTP/SEP.

BFTP/SEP is a sponsoring limited partner and strategic partner of the fund, providing Emerald Stage2 access to its broad network of resources including more than 30 professionals located in three offices across Southeastern Pennsylvania: six of whom focus solely on finding and working with portfolio companies, and four who support company commercialization efforts.

For more information about BFTP/SEP: www.sep.benfranklin.org

Emerald Asset Management (Emerald)

Emerald is a leading regional Asset Management firm, headquartered in Lancaster, PA, with $3.0 billion in assets of under management. Founded in 1991, Emerald is a growth-oriented equity investor that has provided strong returns to its investors using a research-focused investment philosophy that leverages an 18 person research and portfolio management team. With three offices across Pennsylvania, Emerald has a strong regional presences and an enduring focus on investing in Pennsylvania that has fostered relationships with many of the region's leading private and public companies.

Emerald has made a substantial economic commitment to the fund and has active Investment Committee representation. The Fund anticipates that Emerald's representatives on the Investment Committee will provide the fund access to Emerald's analytical resources, industry knowledge and investment research team to assist in finding, evaluating, assisting, and exiting portfolio companies.

For more information about Emerald: www.teamemerald.com

In addition to the above Strategic Partners, Internet Capital Group (ICG), a pioneer in acquiring and building on-demand software companies, is also a Limited Partner in the fund.

For more information about ICG: www.internetcapital.com