EFTA01043208.pdf

From: "jeffrey E." <[email protected]> To: James Fitzgerald <1 Subject: Re: Potential Valar Co-Invest — CONFIDENTIAL and TIME-SENSITIVE Date: Mon, 19 Jun 2017 21:27:53 +0000 tried to call On Mon, Jun 19, 2017 at 4:10 PM, James Fitzgerald <1 l> wrote: On Mon, Jun 19, 2017 at 3:36 PM, jeffrey E. <[email protected]> wrote: > Number to call > On Mon, Jun 19, 2017 at 2:40 PM James Fitzgerald l> wrote: >> Jeffrey, pinging you one more time in case you still wanted to discuss >> the Stash SPV. We are around all afternoon today >> Looking to make final allocations tonight. >> If we don't connect by phone, let's try to find some time to get >> together in-person in July or September after the summer holidays? We >> are close to fully invested in Fund 3 and are talking now with our >> existing investors about Fund 4. >> We're feeling great about both Fund 2 & 3 at this point and would love >> to catch you up on how the companies are doing. >>. » All the best, >> >> James >> On Wed, Jun 14, 2017 at 2:12 PM, jeffrey E. <jeevacation®gmail.com> wrote: >> > Can I call today »> >> > On Wed, Jun 14, 2017 at 1:59 PM James Fitzgerald » > wrote: »» »» All, »» »» For those who expressed interest in the Stash co-investment »» opportunity, we will be holding a conference call this Friday, June »» 14, at 10am New York time, to answer any questions you may have. Note »» that we would like to receive firm indications of interest (dollar »» amounts) by Monday of next week. »» »» If you'd like to join the call, please use the following dial-in »» instructions: »» »» Dialj Passcode: 438412# EFTA01043208 »» »» Best, »» »» James »» »» »» »» On Tue, Jun 13, 2017 at 2:57 PM, James Fitzgerald »» wrote: »>» Valar Investors: »»> >> >> > We are pleased to inform you that Stash Invest, which is the largest >> >> > investment in Valar Fund 3, has signed a term sheet for its Series C »» > financing round. Our allocation in the round exceeds Fund 3's >> >> > remaining reserves for this investment, so we are making a portion of >> >> > it available through a co-investment SPV (similar to the Transferwise »»> SPV we did in 2014 and 2016). » » > »>» The following details are confidential, so please do not disclose »>» them »» > outside of your respective firms: » » > >> >> > Lead investor: Coatue Management » » > »»> Round size: $40M Series C, with $25M from Coatue and the remaining >>>» from existing investors » » > »>» Valuation: $200M pre-money ($240M post-money). » » > >> >> > Last round valuation: As a reminder, we led the $25M Series B, which >> >> > closed in December of last year, at a $100M post-money valuation. The >> >> > current round represents a meaningful step up in valuation, and »» > reflects the continued rapid growth of the company over the past 6 »>» months (more than 2.5x growth in user base since December). » » > >> >> > We expect to make approximately $4M - $6M available to investors >> >> > through the new SPV. Our standard co-investment fees will apply (0% »» > management fees and 20% carry for existing Valar investors; full fees »>» and carry for outside investors). » » > »>» If you are interested in participating in this co-investment >> >> > opportunity, please let us know as soon as possible and we can share »» > further details. » » > »»> All the best, » » > »» > James and Andrew »» »» »» »» -- >> >> James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New »» York NY 10010 »> EFTA01043209  » > -- »> please note >> > The information contained in this communication is >> > confidential, may be attorney-client privileged, may >> > constitute inside information, and is intended only for >» the use of the addressee. It is the property of >» JEE >> > Unauthorized use, disclosure or copying of this >> > communication or any part thereof is strictly prohibited >> > and may be unlawful. If you have received this >> > communication in error, please notify us immediately by >> > return e-mail or by e-mail to [email protected], and >> > destroy this communication and all copies thereof, >> > including all attachments. copyright -all rights reserved >> >> »-- >> James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New » York NY 10010 • please note > The information contained in this communication is > confidential, may be attorney-client privileged, may > constitute inside information, and is intended only for > the use of the addressee. It is the property of > JEE > Unauthorized use, disclosure or copying of this > communication or any part thereof is strictly prohibited > and may be unlawful. If you have received this > communication in error, please notify us immediately by > return e-mail or by e-mail to [email protected], and > destroy this communication and all copies thereof, > including all attachments. copyright -all rights reserved James Fitzgerald / Valar Ventures / 915 Broadway / Suite 1101 / New York NY 10010 please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this EFTA01043210 communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01043211