• Investments are divided between the biotechnology and technology industries. 
  
• Investments are placed across companies at different life stages, including the start-up, early-stage, mezzanine, IPO and post-IPO.
  
• Our policy is to be fully invested.
  

Investments by Industry Cost Basis USD % Cash   1'679'057  3.96 Biotechnology 50'666'833  54.53 Technology 40'575'875 43.67 .    92'921'765  100.00

Investments by Industry NAV Basis USD % Cash  1'679'057 3.06 Biotechnology 36'736'031 66.88 Technology 16'512'120 30.06 .    54'927'208 100.00