Summary

Fund Performance Data

Latest NAV (USD) 1.01 per share (as per 30th of June 2008, unaudited)

Assets Under Management

$118mn

Target Size

$250mn

Situations

Focus is on high growth unlisted companies in Russia and the CIS with exits via strategic sale or IPO within 2-4 years from acquisition. Industry Focus infrastructure, financial services, consumer sector, real estate

Geography

Russia, Ukraine, Kazakhstan and other CIS countries

Target IRR

minimum 30%*

Fund Setup and Legal Structuring

closed-end fund, admitted to trading on the London Stock Exchange’s Specialist Fund Market (SFM) as of May 29th 2008 (ticker DVPS LN).. Requirements for deals: English law preferred, non-liquidity risk protection is desirable, shareholder agreement, operating agreement, Board of Directors seat

Co-investments

possible co-investment with a strategic investor(s), private equity or hedge funds

Time Horizon

4 years (with 2 single year extensions ), investment horizon 2-4 years

Equity Stake on Entry

5% to 49% growth stage on growth stage of companies

Degree of Involvement

active monitoring, seat on the Board of Directors,

Portfolio

investment size of $10 - 30mn; number of investments: 10-13 companies

Value-Add

financial strategies, tool-pack to prepare for a liquidity event, legal, tax and audit consulting, support in negotiations financial strategies, tool-pack to prepare for a liquidity event, work with external consultants, support in negotiations, possible management of corporate governance function, IR and preparation for a liquidity event, enhancement of business planning and managerial accounting

Team

4 partners of Da Vinci Capital, two directors, three analysts; in-house lawyer, support from industry sector analysts and non-executive board members, support from the industry groups of BSG

Decision Making

Board of directors of Da Vinci Capital Management Ltd.

Maximum Investment Size

$20mn; through consortium of friendly funds – $100mn

Instruments

equity, debt with warrants, private convertibles, etc

 

* - Target information may not guarantee future actual returns and other targets