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Scott Johnson, Managing Director

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2 OVERVIEW OF NAV

We are early-stage venture investors in Cambridge and Washington DC with a track record of success

§  Helping great entrepreneurs build businesses…

§  That are fund-makers for our investors…

§  Around core investment themes that we understand well.

CEOs/Founders Of Top Performing NAV Portfolio Companies

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The Greatest Platform for Innovation… Ever.

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§  According to comScore, smartphone penetration in the U.S. was near 75% at the end of 2014.

SMARTPHONE PENETRATION: 75%

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5 WHAT ARE VCs SEEING? MOBILE eHEALTH

§  Very hot sector with high valuations and activity levels

§  Started with wrist bands measuring activity.

§  Now more data focused - seeing consumer information, booking and purchase.

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6 WHAT ARE VCs SEEING? FINTECH

§  Mobile payment is unsolved.

§  Cross border remittance – seeing a lot of activity

§  Peer-2-peer is active but maturing

§  Bitcoin – not seeing anything

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7 WHAT ARE VCs SEEING? EDUCATION

§  A lot of “tablet in the classroom” activity

§  Assessment, curriculum development, the entire classroom workflow is on the table

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8 WHAT ARE VCs SEEING? SECURITY

The world is waking up to the reality that your phone is your identity and it is easy to steal.

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9 WHAT ARE VCs SEEING? GAMES

§  Mostly late stage VC – we can’t predict winners

§  Huge engagement, proven monetization.

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10 WHAT ARE VCs SEEING? ENTERPRISE

§  Mobile salesforce productivity and effectiveness

§  Mobile CRM apps

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11 WHAT ARE VCs SEEING? UBERIZATION

§  Find anything nearby, now

§  Local market efficiency

–  Neighbor’s vegetables, laundry, you name it…

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12 WHAT ARE VCs SEEING? ADVERTISING

§  Mobile advertising is unsolved

§  Local is what we are seeing the most