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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
nd Slovakia. 4 CONFIDENTIAL 8 TRADE SECRET I C-7 EFTA00609572 PORTFOLIO / BREATHER Breather - Private Office Space on Demand Brier Description Breather operates a marketplace for branded, high- design, private office spaces that fill a need for a short term. quiet place to work. meet or relax. Breat
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
nd to be high-margin businesses focused on massive markets, such as currency transfer (Transferwise), banking (N26, Qonto), commercial real estate (Breather), insurance (Jetty, Coya), investing/retirement savings (Stash), accounting software (Xero), and human resources/compliance software (Kato). Given t
total number of Breathers worldwide to 433. Most of these new spaces were opened in their existing core cities of New York, San Francisco, London, Toronto and Los Angeles. Since reorienting around B4B (Breather for Business) and implementing commercial space utilization standards (starting Q1 2016), t
. An update on these major investments — and a few notes on some of the Fund's smaller investments - follows. In our last update, we announced that Breather had raised a Series C round led by Venky Ganesan of Menlo Ventures in November 2016. Google Ventures subsequently invested $5 million at the beginn
Entities connected to both Toronto and Breather

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China
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