• 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    4'976'368  3.96 Biotechnology 50'908'210  40.56 Technology 69'636'612 55.48 .    125'521'190  100.00

Investments by Industry NAV Basis USD % Cash  4'976'368  3.07 Biotechnology 99'733'309 61.49 Technology 57'484'301 35.44 .    162'193'978 100.00