Backing Companies of Consequence

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• “IPOs” represents all Sapphire direct growth strategy investments that have had an IPO or public listing from the firm’s inception in 2011 to June 2025;
• “Exits” represents all Sapphire direct growth strategy investments that have had an IPO, M&A, or public listing from the firm’s inception in 2011 to June 2025;
• Assets Under Management” represents Sapphire’s Growth Strategy Regulatory Assets Under Management as of 12/31/2024 per ADV filed March 2025;
• “CEO NPS Score” represents the overall Net Promotor Score (82) Sapphire achieved, according to portfolio company feedback received by Sapphire as it relates to Sapphire’s role as an operating partner in companies in which Sapphire Growth strategy has invested and chose to participate in a survey that was conducted by Sapphire; as of April 2024. Companies in which Sapphire Growth strategy has both invested and has spent significant time as an operating partner were invited to participate in the survey, whereby not all portfolio companies Sapphire has invested in were invited to participate. Sapphire does not believe the invitation was biased for favorable results. The CEO NPS Score indicates the level of satisfaction portfolio company executives have had working with Sapphire as an operating partner on a scale of 0-100%. The CEO NPS Score does not in any way refer to the investment advisory services Sapphire provides to managed Funds;
• “Annual Talent Intros” represents relationship introductions made by Sapphire and third parties relating to talent business objectives during calendar year 2024;
• “Annual Customer Intros” represents relationship introductions made by Sapphire and third parties relating to customer business objectives during calendar year 2024;