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(e.g., London, Berlin, Stockholm, Paris, Amsterdam), as well as the largest cities in North America outside of Northern California (e.g., New York, Toronto, Montreal) have fairly well established accelerator programs, angel investors and seed-stage investing communities. In particular, seed-stage ventu
bstitute for careful planning with a professional adviser. FIDUCIARY MATTERS AND PROHIBITED TRANSACTIONS GENERALLY. In considering an investment in the Partnership of a portion of the assets of any ERISA Plan, any Code Plan and any entity whose underlying assets include plan assets by reason of an investment in such
and, Seattle, Los Angeles, all of which feed into Silicon Valley; Conlidcanal & Trade Secret EFTA00810410 VALAR 5 Private Placement Memorandum Toronto, Montreal, and Boston, which feed into New York; or Amsterdam, Stockholm, Helsinki, and Tallinn, which feed into London). In Fund 4, Valar intends
bstitute for careful planning with a professional adviser. FIDUCIARY MATTERS AND PROHIBITED TRANSACTIONS GENERALLY. In considering an investment in the Partnership of a portion of the assets of any ERISA Plan, any Code Plan and any entity whose underlying assets include plan assets by reason of an investment in such
tments in all property types, in both the United States and Europe. Before joining Blackstone, Mr. Lax worked in TD Securities' real estate group in Toronto where he was involved in the valuation of investments across all asset classes. Mr. Lax received a BC from the University of British Columbia, wher
ent advice for a fee or other compensation to an ERISA Plan, is generally considered to be a fiduciary of the Plan. In considering an investment in the Partnership of a portion of the assets of any Plan, a fiduciary should determine, particularly in light of the risks and lack of liquidity inherent in an investment
Entities connected to both Toronto and the Partnership of a

United States
LOCATION
Prince Andrew
PERSON
Woody Allen
PERSON
Lawrence Krauss
PERSON
Samantha Power
PERSON
New Zealand
LOCATION
Montreal
LOCATION
North America
LOCATION
Amsterdam
LOCATION
McGill University
ORGANIZATION
Stockholm
LOCATION
Hong Kong
LOCATION
United Arab Emirates
LOCATIONthe U.S. Department of Labor
ORGANIZATIONSao Paulo
LOCATION
Peter Thiel
PERSON
Georgetown University
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION
China
LOCATION
Internal Revenue Service
ORGANIZATION