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SUBJECT TO THE GENERAL PARTNER'S ABILITY TO REJECT ANY COMMITMENT IN WHOLE OR IN PART. THE INTERESTS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT), OR ANY UNITED STATES STATE SECURITIES LAWS OR THE LAWS OF ANY FOREIGN JURISDICTION. THE I
TA00609521 VALAR Private Placement Memorandum 27 to accommodate the tax, regulatory or legal needs of investors (including, without limitation, non-United States investors) who would otherwise invest as Limited Partners of the Fund on substantially similar terms, including economic terms, as the Fund (collec
ntly outperformed common public market index references, such as the S&P 500.' Of the five major portfolio companies in Valar Fund 1, two (Xero and TransferWise) have already achieved valuations close to or in excess of a billion dollars. B. Team Dynamic & Experience The Founding Partners have a long, vari
of the world has become a much more fertile place for start-ups as the success of companies like Skype, Spotify, Zendesk, Atlassian, Shopify, Xero, TransferWise, Klama, HootSuite and others demonstrate. Moreover, the pool of talent abroad is deep — interestingly, many of the top founders in Silicon Valley ar
SUBJECT TO THE GENERAL PARTNER'S ABILITY TO REJECT ANY COMMITMENT IN WHOLE OR IN PART. THE INTERESTS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT), OR ANY UNITED STATES STATE SECURITIES LAWS OR THE LAWS OF ANY FOREIGN JURISDICTION. THE I
ary income on all or a portion of the gain from the sale of stock of a CFC. INVESTMENT BY THE PARTNERSHIP IN PASSIVE FOREIGN INVESTMENT COMPANIES. A non-United States corporation in which the Partnership invests may be classified as a passive foreign investment company ("PFJC') in one or more taxable years while t
references, such as the S&P 500.1 Out of a total 15 portfolio companies where Valar has invested at least $5 million since inception, two (Xero and TransferWise) have already achieved valuations in excess of a billion dollars and three (Breather, N26 and Stash) have already achieved valuations in excess of
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transfers. but it's not the most efficient or cost-effective solution as you you might get a bad exchange rate and pay high fees. We recommend using TransferWise. which is up to 5x cheaper and gives you a great rate. BANK INTERNASIONAL INDONESIA Branches' Swift Codes c AI/CIIMOSIt Institution SWIFT code
Entities connected to both United States and TransferWise

Prince Andrew
PERSON
Woody Allen
PERSONthe Securities and Exchange Commission
ORGANIZATION
New Zealand
LOCATION
Hong Kong
LOCATION
United Arab Emirates
LOCATION
Toronto
LOCATIONSilicon Valley
LOCATION
Amsterdam
LOCATION
Internal Revenue Service
ORGANIZATION
Stockholm
LOCATION
Department of Labor
ORGANIZATION
Peter Thiel
PERSON
China
LOCATION
Russia
LOCATION
Montreal
LOCATION
Georgetown University
ORGANIZATIONthe U.S. Department of Labor
ORGANIZATION
Fannie Mae
ORGANIZATION
LUXEMBOURG
LOCATION