Epstein Secrets

d gears in mid-2012 to move away from biomass and to focus on making syngas from natural gas. This is not a new idea: Exx- onMobil built a plant in New Zealand in 1986 to turn natural gas into methanol and then gasoline, but aban- doned its efforts when the price of petroleum dropped dramatically in the mi

ines with 20 million gallons of algal jet fuel, and teamed up with a green fuel-station network to offer biodiesel in a test run in San Francisco's Bay Area. But it takes a lot of water—and a lot of energy to move that water around—in order to grow algae in large quan- tities, and tailor-making microbes

low-ons Cost basis by sector: • Fintech • Software • Marketplaces • Other Cost basis by geography: • US & Canada • Europe • Australia/New Zealand • Other VALAR EFTA00810242 Results Fund Inception Capital Commitments Current FMV Gross/Net Multiples Gross/Net IRRs DPI % of Fund

York base allows us to: • Avoid Silicon Valley bias • Identify and work with companies anywhere — from SF to Berlin — at a much earlier stage than Bay Area firms. • Compare opportunities across geographies. We are only looking for global winners but we don't presume they will all be in California. 18

eter, and ultimately spinning out as a stand-alone strategy with significant capital commitments from outside investors: 2010: Valar Ventures LP, a New Zealand partnership (the "New Zealand Fund), made Valar's if rst investments in New Zealand. Approximately 40% of the capital commitments to the New Zealan

rst choice when companies are looking to raise new financing rounds, particularly in New York (where working with a local investor is preferable to Bay Area money) and in Europe (where partnership with a US firm is viewed as a strong validation of a startups prospects). 3. In-House Research: The Interne

rlines with 20 million gallons of algal jet fuel, and teamed up with a green fuel-station network to offer biodiesel in a test run in San Francisco’s Bay Area. But it takes a lot of water—and a lot of energy to move that water around—in order to grow algae in large quan- tities, and tailor-making microbes i

ged gears in mid-2012 to move away from biomass and to focus on making syngas from natural gas. This is not a new idea: Exx- onMobil built a plant in New Zealand in 1986 to turn natural gas into methanol and then gasoline, but aban- doned its efforts when the price of petroleum dropped dramatically in the mid