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artner Interests THIS CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM (THE "MEMORANDUM") HAS BEEN PREPARED SOLELY FOR USE BY THE PROSPECTIVE INVESTORS OF VALAR GLOBAL FUND III LP (THE "FUND" OR THE "PARTNERSHIP") AND SHALL BE MAINTAINED IN STRICT CONFIDENCE. EACH RECIPIENT HEREOF ACKNOWLEDGES AND AGREES
erience, the Founding Partners have operational backgrounds — Andrew founded and ran a restaurant group, James served as General Counsel and COO of Thiel Capital LLC ("Thiel Capital") and Peter co-founded and was CEO of PayPal and is a co-founder and the chairman of Palantir. The Partnership will be managed by A
D LIMITED PARTNERSHIP AGREEMENT (the "Agreement") is made and entered into as of June 24December , 20167 (the "Initial Closing Date"), by and among VALAR VENTURES GP 4141V LLC, a Delaware limited liability company (the "General Partner"), and each investor who is identified as a limited partner on EX
with maturities of less than twelve (12) months. 14.21 Thiel Persons. Thiel Persons shall mean Peter Thiel, Peter Thiel's retirement accounts and Thiel Capital LLC, a Delaware limited liability company, any wholly owned subsidiary of any of the foregoing, and any successor in interest thereto. 14.22 Treasury R
rivate Placement Memorandum Valar Ventures LLC 915 Broadway, Suite 1101 New York, New York 10010 Copy # Issued to: 148264373 vl EFTA00810400 VALAR Private Placement Memorandum Confidential Private Placement Memorandum VALAR GLOBAL FUND IV LP $150,000,000 Limited Partner Interests THIS CONF
, the Management Company or any member or employee or Affiliate thereof; provided, however, that Peter Thiel, Peter Thiel's retirement accounts and Thiel Capital LLC and any wholly owned subsidiary of the foregoing ("Thiel Persons") shall not be deemed as an Affiliated Party or an affiliate of any Affiliated Par
T This LIMITED PARTNERSHIP AGREEMENT (the "Agreement") of VALAR GLOBAL FUND III LP (the "Partnership") is made and entered into as of by and among VALAR VENTURES GP HI LLC, a Delaware limited liability company (the "General Partner"), and each investor who is identified as a limited partner on EXHIB
with maturities of less than twelve (12) months. 14.21 Thiel Persons. Thiel Persons shall mean Peter Thiel, Peter Thiel's retirement accounts and Thiel Capital LLC, a Delaware limited liability company, any wholly owned subsidiary of any of the foregoing, and any successor in interest thereto. 14.22 Treasury R
Entities connected to both VALAR and Thiel Capital LLC

Peter Thiel
PERSON
Prince Andrew
PERSONNo Limited
ORGANIZATIONVV Global LP
ORGANIZATIONBreather
PERSON
United States
LOCATION
Woody Allen
PERSONAllen & Company
ORGANIZATIONAndrew McCormack
PERSONEach Parallel Fund
ORGANIZATIONa Special Purpose Investment Fund
ORGANIZATIONLimited Partner's Capital Commitment
ORGANIZATION
Max Levchin
PERSONthe Management Fee Percentage
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATIONValar Ventures LLC
ORGANIZATION
Toronto
LOCATIONValar Global Principals Fund III LP
ORGANIZATION
Thiel Capital
ORGANIZATION
Montreal
LOCATION