customers at any given time against a control group of a client's customers that Granify does not engage with. An early Valar seed investment from Fund 1. by the second half of 2014. Granify began to achieve product-market fit as it shifted its focus from small online businesses to much larger ecomme

commenced investing capital less than 24 months prior to the period indicated and therefore such return information was deemed not meaningful. (3) Fund 1 and Fund II were structured such that investments were made from either fund depending on which fund had available capital. Apollo does not different