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7. InvestMaryland 2012 Timeline January 1DBED receives VC certification applications on behalf of MVFA January 16MVFA selects Altius Associates as VC Selection Consultant March 15Tax auction with insurance companies- raised $84 million March - May Consultant evaluates VC firms May 1 Deadline for VC certification June Altius presents ranking of VC firms; authorized by MVFA to conduct comprehensive due diligence process First payment of $28 million received from insurance companies OctoberFirst VC firm approved and announced to the public

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9. Tax Auction Winners CompanyAmt. Awarded Hartford Insurance$35,000,000 Metropolitan Life Insurance Company$22,500,000 Medical Mutual Liability Insurance Society of Maryland$10,000,000 New York Life Insurance Company$10,000,000 Chubb — Federal Insurance Company$6,100,000 Selective Insurance$5,000,000 GEICO$4,900,000 Travelers$2,500,000 Chubb — Great Northern Insurance Company$2,000,000 Agency Insurance Company of Maryland Inc.$1,000,000 Injured Workers Insurance Fund$1,000,000 TOTAL$100,000,000

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12. Venture Fund Applicant Pool  Application deadline: May 1, 2012  Received applications from 37 firms, 22 of which are based or have offices in Maryland  All 37 firms were certified

13. Applicant Pool – Stage  20 Early stage venture capital  10 Growth equity / Late stage / Small buyout  6 Multi-stage  1 Debt oriented

14. Applicant Pool - Focus  21 Technology / IT / Software focused  9 Life Sciences focused  7 Opportunistic or generalists

15. VC Firm Approval Process Comprehensive Due Diligence  Conducted by Altius  Required time: 60-90 days per evaluation Authority Votes  Confirm recommended firm  Determine commitment amount Contract Negotiations & Side Letter Development  Conducted by MVF Staff  Negotiations currently underway with four VC firms

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17. Maryland Venture Fund and InvestMaryland  Direct investment of $20.7 million of the InvestMaryland funds  Goal: InvestMaryland funds fully committed over a 2-3 year period  Investments will concentrate in early-stage Maryland based businesses  The first direct InvestMaryland investments happening now:  BrainScope – Medical devices to diagnose and treat traumatic brain injuries  Bambeco – Ecommerce company - eco-friendly fashion forward home decor  Maxtena – Advanced antenna and mobile communications  Pathsensors – Pathogen detection in food supply  Theranostics – Clinical diagnostic testing 17

18. Maryland Venture Fund Financing for Emerging Technology Businesses  Enterprise Investment Program  MD Enterprises Venture Capital Limited Partnership Investments Investment decisions are based on potential for returns, promotion of economic development and the creation of jobs

19. Maryland Venture Fund Enterprise Investment Program – $100,000 – 1,000,000  Direct equity investments in emerging high technology companies that have patented or proprietary products, manufacturing processes and a marketing strategy in place  Provides financing to move the enterprise to next stage of its development  Looking for opportunities to co-invest with the InvestMaryland VCs  Currently $8.86M of opportunities are in MVF’s pipeline.

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23. For More Information Thomas Dann at 410-767-6379 or tdann@choosemaryland.org