1. PricewaterhouseCoopers/ National Venture Capital Association MoneyTree™ Report based on data from Thomson Reuters Shaking the MoneyTree ™ Q1 Update April 2009

4. MoneyTree Total Investments: Q1 2001 – Q1 2009 997 Q1 2008 1051 Q2 970 Q3 866 Q4 Q4 Q3 Q2 549 Q1 2009 869 Q1 2007 1043 Q2 997 Q3 1058 Q4 875 Q1 2006 949 Q4 909 Q3 963 Q2 732 Q1 792 Q3 826 Q2 814 Q4 2005 # of Deals 840 Q4 692 Q3 851 Q2 715 Q1 2004 2003 2002 2001 786 Q4 717 Q3 741 Q2 702 Q1 721 Q4 691 Q3 852 Q2 839 Q1 980 Q4 1004 Q3 1216 Q2 1283 Q1

5. MoneyTree Total Investments: 1980 – 2009 Annual Venture Capital Investments 1980 to 2009

6. Investments by Region: Q1 2009 Q1 2009 Total: $3,003.7 million in 549 deals 544.82% 2 AK/HI/PR 53.72% 8 South Central -52.70% 16 Colorado -54.53% 13 Philadelphia Metro -35.51% 6 North Central -63.26% 41 Midwest -62.38% 29 Southeast -57.19% 15 San Diego -0.26% 27 Northwest -28.24% 39 LA/Orange County -71.15% 9 Southwest -46.91% 549 Total Upstate NY Sacramento/N.Cal DC/Metroplex Texas NY Metro New England Silicon Valley Region -79.43% 4 -82.65% 2 -83.28% 20 -52.48% 24 -4.19% 54 -51.18% 67 -42.74% 173 % Change $ from Q4 ’08 # of Deals

7. Investments by Region – Quarterly Percent of Total U.S. Investments Top U.S. Regions Q1 ‘08– Q1 ‘09

8. Investments by Industry: Q1 2009 Q1 2009 Total: $3,003.7 million in 549 deals Visit www.pwcmoneytree.com for Industry definitions -32.86% 10 Computers and Peripherals 0.08% 9 Retailing/Distribution 9.77% 11 Healthcare Services -45.55% 11 Consumer Products and Services 42.15% 17 Business Products and Services -46.72% 16 Networking and Equipment 25.58% 17 Financial Services -34.61% 23 Semiconductors -22.91% 42 IT Services -26.81% 52 Medical Devices and Equipment -85.25% 8 Electronics/Instrumentation -72.45% 27 Telecommunications -44.56% 43 Media and Entertainment -74.95% 38 Industrial/Energy -46.34% 81 Biotechnology -41.98% 138 Software -46.91% 549 TOTAL Other Industry 78.19% 6 % Change $ from Q4 ’08 # of Deals

9. Investments by Industry – Quarterly Percent of Total U.S. Investments Top 5 Industries – Q1 ‘08 to Q1 ‘09

10. Investments by Industry: Q1 2009 – NY Metro Q1 2009 Total: $ $322,664,700 and 54 deals Visit www.pwcmoneytree.com for Industry definitions

11. Investments by Industry – Quarterly Percent of Total NY Metro Investments Top 5 Industries – 2005 to Q1 ‘09

12. Investments by Stage of Development: Q1 2009 Q1 2009 Total: $3,003.7 million in 549 deals -59.85% 146 Expansion Stage -45.93% 157 Early Stage -46.91% 549 Total Startup/Seed Later Stage Stage of Development -43.50% 47 -35.15% 199 % Change in $ Amount from Q4 2008 # of Deals

13. Investments by Stage of Development: Q1 2009- NY Metro Q1 2009 Total: $ 322,664,700 and 54 deals -9.0% 8 Expansion Stage -33.0% 19 Early Stage -4.0% 54 Total Startup/Seed Later Stage Stage of Development 27.0% 5 26% 22 % Change in $ Amount from Q4 2008 # of Deals

14. Investments by Sequence of Financing: Q1 2009 Q1 2009 Total: $3,003.7 million in 549 deals -50.79% 105 Second -36.31% 69 Fourth -47.51% 132 First -46.71% 155 5 th and Beyond -46.91% 549 Total Third Financing -51.60% 88 % Change in $ Amount from Q4 2008 # of Deals

15. First Sequence Financing – Number of Deals First Sequence Deals

16. First Sequence Financing – Investment Amount First Sequence Investments

17. First Sequence Financing – Percent of Total U.S. Investments

18. First Sequence Deals in Startup & Early Stage Companies

19. Median Deal Size vs. Mean Deal Size – Quarterly Total U.S. Investments

20. Post-Money Valuations – Early Stage Companies Q4 2001 to Q4 2008 12 Month Average Source: Thomson Reuters

21. Post-Money Valuations – Expansion Stage Companies Q4 2001 to Q4 2008 12 Month Average Source: Thomson Reuters

22. Post-Money Valuations – Later Stage Companies Q4 2001 to Q4 2008 12 Month Average Source: Thomson Reuters

23. Q1 2009 – Most Active Venture Investors 8 Boston, Massachusetts Oxford Bioscience Partners 8 Menlo Park, California Versant Ventures 8 Menlo Park, California Morgenthaler Ventures 9 Columbia, Maryland Maryland Technology Development Corporation (AKA: TEDCO) 9 West Conshohocken, Pennsylvania First Round Capital 9 Menlo Park, California Kleiner Perkins Caufield & Byers 10 Menlo Park, California Menlo Ventures 10 Waltham, Massachusetts Polaris Venture Partners 10 Lexington, Massachusetts Highland Capital Partners LLC 11 Menlo Park, California Draper Fisher Jurvetson (FKA: Draper Associates) 13 Westport, Connecticut Oak Investment Partners 8 Bellevue, Washington Ignition Partners (FKA: Ignition Corporation) 8 Menlo Park, California Sequoia Capital 8 Palo Alto, California Accel Partners 8 Menlo Park, California August Capital Management 11 Boston, Massachusetts SV Life Sciences Advisers (Schroder Ventures Life Sciences) 11 Palo Alto, California Venrock Associates Total Deals Location Venture Capital Firm

24. Q1 2009 – Most Active Venture Investors – NY Area 2 Boston, MA Oxford Bioscience Partners 2 Palo Alto, CA Meritech Capital Partners 2 New York, NY Ascend Venture Group LLC 2 New Haven, CT Elm Street Ventures 3 Larchmont, NY Bessemer Venture Partners 3 New York, NY SAS Investors 4 Trenton, NJ New Jersey Economic Development Authority 3 New York, NY Union Square Ventures 3 West Conshohocken, PA First Round Capital Total Deals Location Venture Capital Firm

25. Q1 2009 – Top 10 Deals in NY Metro Early Later Expansion Later Later Later Expansion Early Later Later Stage Software Software IT Services Telecommunications Software Semiconductors IT Services Medical Devices and Equipment Biotechnology Software Industry $12.0 New York, NY Outbrain, Inc. $12.99 New York, NY SchoolNet, Inc. $13.0 New York, NY Yodle, Inc. (FKA: Natpal, Inc.) $15.0 Hackensack, NJ Vidyo, Inc. (FKA: Layered Media, Inc.) $15.0 New York, NY TradeCard, Inc. (FKA: Full Service Trade System, Inc.) $16.0 Bridgewater, NJ Enpirion, Inc. $25.0 New Haven, CT Rib-X Pharmaceuticals, Inc.. $34.02 New York, NY Quadriserv, Inc. $18.0 New York, NY Tremor Media, Inc. (FKA: Tremor Network, Inc.) $25.0 Budd Lake, NJ InSet Technologies, Inc. $ Invested Location Company

26. Analysis of Venture-Backed IPO and M&A Activity * Includes all companies with at least one U.S. VC investor that trade on U.S. exchanges, regardless of domicile **Only accounts for deals with disclosed values Source: Thomson Reuters and National Venture Capital Association 115.7 337 78.4 470.2 6 2008 49.6 56 0 0.0 0 2009 Q1 140.3 61 0 0.0 0 2008 Q4 96.3 86 187.5 187.5 1 2008 Q3 113.6 106 56.5 282.7 5 2008 Q1 126.7 84 0 0.0 0 2008 Q2 177.0 373 120.1 10,326.3 86 2007 116.8 369 90.6 5,075.1 56 2006 85.1 346 121.0 11,378.0 94 2004 104.9 352 78.7 4,485.0 57 2005 Average M&A deal size** Number of Venture-backed M&A deals Average Venture-Backed Offering Size ($M) Total Venture-Backed Offering Size ($M) Number of IPOs* Date

27. Venture Capital Fundraising Data current as of January 19, 2009 Source: Thomson Reuters & National Venture Capital Association 3,518.4 47 36 11 Q4 ’08 4,316.0 40 37 3 Q1 ’09 8,393.3 62 49 13 Q3 ’08 9,246.7 78 55 23 Q2 ’08 6,485.5 81 60 21 Q1 ’07 8,660.6 85 68 17 Q2 ’07 8,595.8 77 62 15 Q3 ’07 28,278.5 214 167 47 2008 31,866.0 239 184 55 2006 10 26 61 63 55 First Time Funds 61 59 188 173 156 Follow-On Funds 7,120.1 71 Q1 ’08 11,907.5 85 Q4 ’07 35,649.4 249 2007 Quarter 28,747.5 236 2005 19,156.0 211 2004 VC Raised ($M) Total Number of Funds Year

28. Closing Thoughts & Comments

29. David Silverman Parner (646) 471-5421 [email_address] © 2008 PricewaterhouseCoopers LLP. All rights reserved. "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers LLP (US). 