EIS Fund Manager of the Year(2008)Finalist (2009, 2011 & 2012)

7 portfolio companies in the SVC2UK ‘100 Club’ 2013

Equity Gap Fund of the YearShortlisted (2012 & 201313)

17th April 2014

Important notice

This presentation constitutes a financial promotion and is made by MMC Ventures Limited (“MMC”) of 2 Kensington Square, London W8 5EP, a firm authorised and regulated by the Financial Conduct Authority (“FCA”). Prospective Investors are advised to consult their own independent financial adviser authorised by the FSA before contemplating any investment. Prospective investors should not regard the contents of this presentation as constituting advice relating to legal, taxation or investment matters and are advised to review the MMC EIS Fund Information Memorandum and to note the section headed Risk Factors when considering an investment.

Whilst MMC has taken reasonable care to ensure that all the information in this presentation is materially accurate and not misleading, no representation or warranty, express or implied, is given by or on behalf of MMC as to the accuracy or completeness of the information or opinions contained in this presentation.

Past performance is not necessarily a guide to future performance and may not be repeated. You should be aware that share values and income from them may go down as well as up and you may not get back all or any of the amount you originally invested.

The information in this presentation makes reference to EIS relief, IHT relief and CGT Deferral relief. The tax reliefs are those currently available and may be subject to future change and their availability is dependent on upon the individual circumstances of each investor.

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Our heritage

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Syndicate of experienced High Net Worth business angels

FCA authorisation secured

EIS and non-EIS deals

MMC launches EIS Fund

EIS deals only

MMC ECF raises £30m 10 year LLP incl. £20m from HMG and attracts endowments to MMC Co-Fund

Co-invests with EIS Fund

2004

£14m MMC London Fund from Mayor of London

Co-invests with EIS Fund

2000 20062002 2008 2010 2012 2014

MMC today: £130m+ of funds

raised;£10m+ invested

by team

• Extensive due diligence by institutions and Government • Invest only on the commercial merits of the deal: we co-invest institutional

and EIS money• Team has personal exposure to every EIS deal

Investment Focus

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Focus on sectors where UK is a world leader with a deep pool of expertise and talent available

Sector breakdown of current MMC investments(by number of companies)

19%

8%

12%

15%

23%

23% Business Services

Financial Services

Other

Digital Media

E-Commerce

Business Software

Investment stage

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Proof of Concept

Seed Stage

First Round

Second Round

Expansion Capital

Major Scaling Capital

Sou

rce

s o

f P

riva

te

Equ

ity

Fun

din

g

Founders, family, friends

Accelerators

Business angels & networks, seed funds

Corporate venture funds

IPO

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Early stage VCs

Growth VCs, private equity etc.

Deal Flow

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Focus on fast developing businesses that we can fund along the growth curve.

Aim to invest £5-6m per company over 2-3 rounds

1,000 plans reviewed

175 teams met

21 individual investment

rounds (new & follow on)

14 year old networkProactive search for deals in chosen sectors

Thorough filteringHuge bank of sector expertise

Co-investments with international VCs – e.g. Bessemer Venture, Chernin Group ,Tiger Global

In 2013

Recent investments

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Multi-niche e-commerce business focused on furniture retail

December 2013

Online home swapping community

September 2013

An online marketplace to list, discover and book short-term

retail space around the UK.

November 2013

Cloud-based CRM software tool for recruitment services market

March 2014

A recipe box business that delivers a weekly box of healthy, responsibly-sourced ingredients

November 2013

A curated online-movie service catering to independent and

art-house film enthusiasts

March 2014

The UK's largest fitness network.

February 2014

Europe's largest independent, full service mobile marketing

specialist.

February 2014

Considered approach to management

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Across current portfolio:

• Average revenue growth: 5x

• Over 2,000 jobs created

• Hands-on approach helps businesses build strong teams and drive good processes

• Attract substantial follow-on funds from major global institutional VCs

• Exit strategies explored and agreed from outset

“For investors with an appetite for backing young growth companies, MMC EIS is one of the most experienced and responsible managers in this sector.”

Allenbridge Tax Shelter Report (February 2013)

Attracting co-investment

• We are getting industry recognition for our deals, attracting generous co-investment. In 2013 alone we attracted over $100 million in total investment into the portfolio.

• During 2013 we invested in 18 companies, these deals attracted co-investment in every case, mostly from international institutional investors.

“Recognition in the industry goes a long way to illustrating the great work we’ve been doing funding and supporting high-growth businesses. We’re demonstrating significant long-term value being built in our portfolio.” – Bruce Macfarlane, Managing Partner

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Outstanding team: over 50 years of combined VC experience

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Bruce Macfarlane Managing Partner

Former ManagingDirector at Merrill Lynch.Bruce qualified as abarrister in London andan attorney in New York.

Alan MorganChairman

Alan spent 28 years atMcKinsey & Co where hewas head of the financialservices practice in UK,Europe and the Middle East

Jon CokerPartner

Formerly of globalleveraged fund team at JPMorgan. Jon has an MEngin Engineering Sciencefrom St Peters, OxfordUniversity.

Rory StirlingPartner

Rory was in the UK M & Ateam at Greenhill & Co,before going on tofound a start-up businessin the social media space.

Camilla DolanInvestment Manager

Formerly Consultant andCase Team Leader at Bain &Co specialising in fin-tech.She has an MA in Law fromMerton College, Oxford.

Simon Menashy Investment Manager

Previously senior consultantin the Strategy practice atDeloitte, working withmedia, telco andtechnology companies.

Margaret Perchik Financial Analyst

Has a BSc in Physics,completed a course inFinancial Engineering taughtby Columbia Universityprofessors and is training forher CFA I.

Anna SlemmingsSales & Marketing

Previously the marketingmanager for a mediaproduction company andpublisher of special interestreports for The Times.

Venetia Kennedy Investor Support & Team Assistant

Previously assistant atOxygen, an insurancebroker in the City.

Victoria FergusonLegal Counsel

Victoria is a qualifiedsolicitor. She waspreviously in privatepractice at the Londonoffices of Jones Day.

MMC in a snapshot

Offers investors exposure to a portfolio of hard-to-access, fast growing private UK companies, combining real capital upside potential with very

generous tax incentives.

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Experienced: founded in 2000 with c. £110m AUM

Dynamic: ranked 3rd most active early stage investor in the UK

Discerning: all new deals selected each year from massive deal flow

Focused: tech-enabled business in sectors where UK is a world leader

Engaged: active and supportive MMC involvement on every deal

Successful: strongly performing portfolio of 28 companies

Aligned: the team has invested over £10m across the portfolio

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Contact details

Anna Slemmings, Sales & marketingEmail: anna.slemmings@mmcventures.comTel: 020 7361 0221Website: www.mmcventures.com

MMC Ventures Limited2 Kensington Square

London W8 5EP