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FIDENTIAL ISSUE # CONFIDENTIAL OFFERING MEMORANDUM [DATE] 2011 BHV OPPORTUNITES FUND SCA, SICAV-FIS Societe d'investissement a capital variable — fonds d'investissement spicialist NO APPLICATION FOR THE ADMISSION OF BHV OPPORTUNITIES FUND SCA, SICAV-FIS (THE "COMPANY") TO THE OFFICIAL LIST OF SPECIALISED INVESTMENT
ies set out by International Private Equity and Venture Capital Valuation Guidelines, published by the European Venture Capital Association (EVCA), the British Venture Capital Association (BVCA) and the French Venture Capital Association (AFIC) in March 2005, as may be amended from time to time; (vi) Investments registered in the na
NG MEMORANDUM [DATE' 2011 RANQUE-14A-VILLAND-OPPORTIJNITIESBHV OPPORTUNITES FUND 4-SCA, SICAV-FIS Societe d'investissement eo kcapital variable — fonds d'investissement specialise NO APPLICATION FOR THE ADMISSION OF BANQUEs-1441144,1-ANDBHV OPPORTUNITIES FUND -I,SC4 'I 'w-ris (THE "COMPANY") TO THE OFFICIAL LIST
uation of portfolio companies set out by international Private Equity and Venture Capital Valuation 'i thustatigsairo i li . peariMenuan (EVCA), the British Venture Capital Association (BVCA) and the French Venture Capital Association (ARC) in March 2005, as may be amended from time to time; PERS-44F-1-6O 2450.-4 30 0095739-00000
BHV Opportunites Fund SCA, SICAV-FIS Societe d'investissement a capital variable — fonds d'investissement specialise organisie sous la forme dune societe en commandite par actions Silge social: [address] CONSTITUTION DE SOCIETE DU [DATE] 2011 N° In
ies set out by International Private Equity and Venture Capital Valuation Guidelines, published by the European Venture Capital Association (EVCA), the British Venture Capital Association (BVCA) and the French Venture Capital Association (AFIC) in March 2005, as may be amended from time to time; (1) investments registered in the nam
Entities connected to both fonds d'investissement and the British Venture Capital Association
Banque Havilland SA
ORGANIZATIONCompartment on that Valuation Date
ORGANIZATIONthe Management Share
ORGANIZATIONthe Grand Duchy of Luxembourg
ORGANIZATIONCompartments
PERSONregister a Transfer
ORGANIZATIONGrand Duchy
LOCATION
John F. Kennedy
PERSON
Armenia
LOCATION
Moldova
LOCATION
Uzbekistan
LOCATION
Kyrgyzstan
LOCATIONthe Carried Interest
ORGANIZATIONthe Portfolio Companies
ORGANIZATIONPortfolio Companies
ORGANIZATIONOrdinary Shares
ORGANIZATIONValuer
PERSONAuditor
LOCATIONBusiness Day
ORGANIZATIONthe Indemnified Persons
ORGANIZATION