Saints is what is generally known as a special situation investor. We look for opportunities to invest in situations where an investor wants immediate liquidity for tax, cash flow, or strategic motivations. This is called direct secondary investing and Saints is one of the leading investors of this type. In addition, we will look at opportunities to invest in restructuring opportunities or to acquire debt and convert it to an equity ownership position.

Direct Secondary Investments
Our direct secondary program seeks to acquire individual investments or a portfolio of investments from other venture capital and private equity investors seeking liquidity for their investment stakes. These investments may be in the form of either equity or debt. We work with venture capital and buyout firms with investments in funds that are recapitalizing, disbanding or near the end of the fund life ("end-of-life funds"). We work with commercial and investment banks seeking to reduce their exposure to private equity or dispose of direct equity or equity-like investments or loans, corporations and corporate venture capital groups seeking to gain liquidity for or to dispose of venture and private equity investments that are no longer strategically or financially relevant to the corporation, hedge funds seeking to monetize illiquid private investments for tax purposes or to free up capital for re-investment in new opportunities, company founders that desire to monetize founder shares, and other financial institutions selling private investments for regulatory, tax, accounting or financial reasons.

Within the secondary investment marketplace we are distinguished by our sole focus on the acquisition and management of direct investment stakes - we do not seek to acquire limited partnership interests.

We are selective in the assets we seek to acquire and/or manage but are quite flexible in how we structure a transaction to meet the needs of the current investors. As such, our secondary program is designed to provide a range of services to meet the specific needs of the current investor. We can provide immediate liquidity through the cash acquisition of the investment interest if this is desired for financial, strategic or tax reasons. In addition to gaining the benefits of immediate liquidity, we eliminate the need for the seller to continue the management and financial burden required to successfully manage a group of venture investments. Alternatively, if the goal of the current manager is to reduce the follow-on financial commitments or simply the management time required to support the portfolio, we can provide follow-on capital and management services and the current manager can then maintain an ongoing economic interest in the investments.

Direct Primary Investments and Special Situations
In addition to our secondary investment program, Saints will make direct investments in venture-backed companies. We will also invest in special situations where there are unique factors that prevent a company from raising money from traditional venture capital or private equity sources.