ABS Capital

Flashpoint Venture Capital invests in Western Tech Companies founded by expats from Emerging Europe & Israel. By combining our capital and expertise with the vision and talent of tech founders we are always pushing for the next flashpoint. Our sweet spot is business-to-business software-as-a-service solutions and business-to-consumer applications in the initial revenues stage (late seed-round “A”). We are happy to learn about any innovative software solutions, even in pre-revenue stages. StrategyFocus on late-seed and Series A stage companies, however could consider seed investments in areas of our sector expertise or with co-investors we know. The sweet spot is business-to-business software-as-a-service solutions, however, we also invest in compelling business-to-consumer applications. Our focus is on software or software enabled companies, but we could also consider “software-first” hardware businesses. Initial check size of US$1-4m, following up to US$15m over the life of our investment. We are seeking 10-20% stakes with Board roles to enable our value-add. We are sector and business model agnostic. Investment criteriaA team of expert founders having achieved good initial traction (US$50-200k MRR) and tackling a sizable problem. Compelling product with sticky customers and low/negative churn. Business models with solid economics and LTV/CACs above 3x. Scalable sales/marketing channels, either inbound or outbound. First-mover or other lasting competitive advantage. Time horizon to potential exit is not a major consideration. Investment processWe like meeting companies early on in their development. Even at that stage before we invest, we could be helpful with our network or professional advice. We apply a structured analytical approach to evaluating the company. We are always interested in learning more about financial and operating metrics. Our investment terms are company friendly and could be tailored to particular needs and situations. Post term sheet signing we have a standardised due diligence process across main business areas – business, tech/intellectual property, finance, legal, tax, and others. From term sheet signing to closing a transaction the process can take one or two months depending on the speed of the company in assisting in the due diligence process.

Founded in 2008, Serent Capital is a leading lower-middle market private equity firm focused on investing in high growth service and technology businesses. Our operating model is distinct in its focus on business building. We strive to be an involved, value-added investor, capable of providing significant operational and strategic support to our portfolio company CEOs on the most critical issues that they face as their companies scale. Serent Capital’s ability to assist its companies is based on its principals’ experience as CEOs, strategic advisers, and Board Members, and a deep network of formal and informal advisors. Our mission is to deliver extraordinary returns by partnering with outstanding executive teams to grow exceptional businesses. Our success in this mission comes from our persistent adherence to our values. Created by founders, for founders When you partner with an investor, you’re looking for a partner with the right values, working style, and personality to build an amazing relationship. Serent was created by experienced founders and operators to offer growing companies the guidance we wished we’d had. With Serent, you can partner with experts who have been there – so we can find opportunities together that will help you scale your business faster. Purpose-driven partnership Imagine the difference it could make to your business if you could rely on top-tier industry experts to guide you through planning your pricing structure or hiring your head of marketing. With Serent, that’s exactly what you get. With everything we do, we strive for collaborative decision making. You can always expect an honest conversation, knowing we’re working toward what’s best for your business. More than financial partners Working with experts is the best way to get better, faster. That’s why we invest in hiring the seasoned pros on our Growth Team – and offer their guidance to you without consulting fees. Whether you’re developing new marketing channels, expanding your team, or rolling out a new service, we’ll connect you with the right people to provide support through every step of the process. Our valuesPerformance: Demanding of excellence, unyielding in the search for truth, upholding the obligation to dissent, disciplined. Partnership: Trust, support, and respect – both internally and with our portfolio executive teams and employees. Our portfolio companies come first, Firm second, self third. Development: High expectations, invest in the individual, reap the rewards as a firm. Entrepreneurship: Valued in our firm, in our professionals, in our portfolio companies and their leadership. Principled: Fiercely protective of our reputation for professionalism and integrity, with everyone in our universe: executives, employees, intermediaries, investors, service providers. Investment focus & criteria We invest significant time and resources researching attractive industry segments. As a result, we can quickly assess whether we are interested in investigating a business further. This often takes place within 72 hours. If we are interested, we are able to leverage our research and move quickly to complete a transaction. Serent invests in great businesses with exciting growth prospects. Our investment approach is to identify sectors with robust growth, and then to invest significant time and resources researching those sectors to identify attractive business models. We focus predominantly on services businesses, particularly ones with moderate to light capital intensity, requiring limited capital expenditures. We also look for companies at key inflection points, where they can benefit from our experience and expertise in business building. GROWING SECTORS: We like businesses that operate in sectors that are undergoing significant change, with dynamics that create or expand a market opportunity beyond what has been available historically. Examples include sectors that are benefiting from strong demographic trends, from shifting distribution, sourcing, or staffing models, or from technology enablement. SCALABLE BUSINESS MODELS: We like emerging new businesses that have developed a “secret sauce” in the form of capabilities, resources, proprietary content/information, or other types of intellectual property. Typically, this secret sauce is delivered in the form of a service and has subscription or recurring revenue. These services benefit from increasing scale, which helps establish a sustainable and defensible market position. OPPORTUNITY TO BUILD BUSINESSES: We prefer to invest in companies that will benefit from the experience and expertise of Serent’s principals in business building. We believe that by partnering together, we can build great companies and earn great returns. We are open to buying businesses where an owner may not want an active role going forward, and we are very comfortable working with those owners and companies to ensure a smooth and successful transition for all parties. SIZE Serent Capital typically invests from $20 million to $200 million in B2B software companies with a strong product market fit and 30%+ Net Promoter Score (NPS). In general, the companies in which we invest have the following characteristics: REVENUE: We are comfortable with a range of annual recurring revenues, from $5 million (or a path to $5 million) to $100 million GROWTH: We focus on growing businesses and look for annual growth from 20-1000% PROFITABILITY: We look for businesses that are profitable or have a path to profitability STRUCTURE We make investments of the following types: RECAPITALIZATIONS: We provide liquidity for entrepreneurs looking to sell a majority or minority stake in their businesses, while allowing them either to retain operational control or to bring in a new management team. BUYOUTS: Through a highly collaborative process, we are able to develop thoughtful and successful exit strategies for business owners. Our versatile approach allows us to partner with existing management teams or to engage new management if needed. GROWTH CAPITAL: We bring our business building experience and financial capital to bear to make significant investments that accelerate growth. This is typically done in conjunction with a recapitalization. In our investments, we look for a meaningful ownership stake and always look for a role for Serent to work actively with management in building the business.

We focus on founders building technologies that are redefining legacy industries Long-Term Capital We invest for the long-term; we’ve guided many of our portfolio companies to IPO or acquisition - and beyond. Concentrated Portfolio Making just four to five investments per year, we run a concentrated portfolio to ensure every company we back receives the resources it requires. Value-Add Partner We leverage our Global 2000 network, extensive experience, and operational expertise to drive value. Target Investment Criteria We've been partnering with founders of industry-disrupting, fast-growing tech businesses since 2006, working with companies that have strong product-market fit and generate $5 million to $100 million-plus in annual sales. We typically take minority stakes, investing between $20 million to $100 million. Investment Size $20 million to $100 million Company CharacteristicsEstablished product-market fit Substantial customers & a large TAM Strong teams with shareholder alignment 20%-100%+ growth Generally recurring or reoccuring revenue High customer retention Strong market position, with competitive moats Solid unit economics Structuring ApproachWe support without seeking control. We are minority investors, with a lead investor mindset who take board representation. We provide capital for growth/expansion, acquisition financing, optimizing capital structure and shareholder liquidity needs.

We focus on businesses with strong products in growing markets where we can facilitate a change in performance by scaling sales, strengthening leadership, and enhancing operations. At Palisades, we are passionate about partnering and supporting companies that offer products and solutions that can help end-customers change their ways of doing business and potentially transform their industries. We help scale businesses by building leadership teams, identifying growth areas, and executing on operational improvements. Our value creation playbook has been developed over more than 20 years of investing in B2B software. WHERE WE OPERATE We target companies headquartered in the United States. We also support many of our existing portfolio companies in their expansion efforts globally. WHERE WE INVEST We typically deploy between $5-25m in equity per investment, acquiring both majority and minority stakes. We invest in software companies with proven business models, rich intellectual property, high recurring revenue, and long-term growth potential. We focus on enterprise software companies with scalable business models that are intrinsically profitable. We focus mainly on business-critical software that makes a real difference for the end-customer and carries a solid value proposition in the form of a high ROI. We look for opportunities where we can bring our company building experience to create shareholder value. We are flexible as to the size, form, and structure of investments we make. Our minority investments can consist of both an acquisition of shares from existing shareholders and a capital increase in the company supporting growth. WE HELP BUILD THE LEADERSHIP BENCH We assist in coaching, recruiting, and strengthening management teams and board members. WE HELP SCALE SALES ORGANIZATIONS We help scale sales and marketing teams with a blended focus on process, sales tools, metrics, and talent. WE HELP INVEST IN R&D We support innovation in the product development process including investment in and development of structured product development and innovation processes. WE PARTNER WITH MANAGEMENT Collaboration matters to us. We work closely with management teams to define success and create a sustainable roadmap for growth. Growth is not always predictable or linear, so we course-correct and refine strategies as necessary. We help build teams, advise on resource allocation, and pursue M&A opportunities. Palisades has established an operating team and partner network that works in conjunction with portfolio company executives and Palisades investment professionals to support execution of high impact strategic initiatives.

Crew Capital was co-founded by Brandon Deer & Daniel Dines, both officers at UiPath. The firm's unique strategy is driven by active operator GP's, and combines the flexibility of angel-style investing with institutional-grade resources for founders. With a presence in Miami, New York, and Europe, the firm is backing leading companies across B2B software, fintech, digital health, e-commerce, and tech-enabled services.

We are patient and committed investors with a view towards the entrepreneur’s long-term success. We take an artisan approach to venture capital because every company is unique and different. Our portfolio companies benefit from our extensive enterprise relationships by building strategic partnerships and accelerating revenue. The strength of our firm resides in our team approach to venture capital. STAGE: We invest in expansion-stage companies post product with early customer success. SECTORS: We focus on software, hardware and technology enabled services. VALUE-ADD: We help entrepreneurs accelerate revenue and reduce costs. From Humble Beginnings to Lifetime Friends Our families came to America with a one-way ticket, little money, and our entire lives packed in a few suitcases. Growing up in immigrant households, we lived by stretching a dollar as far as possible. And in order to assimilate into the American culture, we’ve developed an insatiable curiosity to learn from anyone, anywhere. We do not take anything for granted. Even though we grew up with very little, we embraced the American Dream that by doing an honest day’s work, we can achieve success. Through grit and determination, we fought our way and worked all throughout our childhood and school to pay for our own education. Our paths crossed after college, where we became roommates and have remained friends for the past 15 years – and counting. We believe it’s not a coincidence that some of the most valuable and iconic technology companies in the U.S. were founded or co-founded by immigrants or children of immigrants. These entrepreneurs include Steve Jobs (Apple), Sergey Brin (Google), Jeff Bezos (Amazon), Eduardo Saverin (Facebook), Larry Ellison and Bob Miner (Oracle), Andrew Viterbi (Qualcomm), Jensen Huang (Nvidia), Max Levchin, Luke Nosek, Peter Thiel, and Elon Musk (PayPal), Jerry Yang (Yahoo), Pierre Omidyar (eBay), Eric Yuan (Zoom) and many more. Our history shapes our firm’s values of being budget conscious, building authentic relationships, and upholding integrity. We take our values seriously, and we consider ourselves lucky to have landed in venture capital careers where we can help the next generation of entrepreneurs with those similar values achieve their success. Our Professional Background Our careers have included experience in finance, operations, and venture capital. We have been trained by leaders and legends on Sand Hill Road having invested at Kleiner Perkins Caufield & Byers (KPCB) and Institutional Venture Partners (IVP) – both firms were founded in the early 1970s and have backed some of the most iconic companies in the world including Amazon, Google, Netflix, and Twitter.