Investing in Women-Led Startups

Deborah Weinswig

Managing Director

deborahweinswig@fung1937.com

US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016

June 15, 2016

2

About Fung Group

TRADING LOGISTICS DISTRIBUTION RETAILING

Li & Fung Limited Listed on SEHK

Global Brands Group Listed on SEHK

Fung Retailing Limited Privately Held Entity

Convenience Retail

Asia Limited

Listed on SEHK

Trinity Limited

Listed on SEHK

Branded Lifestyle Holdings Limited

LiFung Kids (Holdings) Limited

Toyrs “R” Us (Asia)

Suhyang Networks

UCCAL Fashion Group

Privately Held Entities

Fung Holdings (1937) Ltd.

A privately held entity and major shareholder of the Fung Group

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About Fung Global

• Fung Global Retail & Technology advises retailers, real estate developers and tech companies on projects

situated at the intersection of retail, tech and/or fashion.

• Our team offers a robust knowledge bank and significant experience in the retail, fashion and tech fields.

We are involved in many areas of the business and believe this allows us to offer a unique perspective by

focusing on the future and where the sector is heading.

A Unique Combination of Retail, Fashion & Tech

RETAIL FASHION TECH

4

NAME UR PRICE

SELF-

CHECKOUT

EVANGELIZE THRIVE

EXPERIENTIAL RETAIL: MAKE THE STORE AN AWESOME PLACE

CUSTOMER ENGAGEMENT: HOW DO YOU CONVERT THE CONSUMER

ALL CHANNEL: The CONSUMER CAN SHOP WHEREVER +

WHENEVER

REACTION COMMERCE

NEW RETAIL MODELS: HOW WILL THE CONSUMER SHOP IN THE

FUTURE

Four-Quadrant Disruptors Framework with

Women-led Startups

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Our Accelerator Partnerships

ENTREPRENEURS ROUNDTABLE

ACCELERATOR

6

Our Accelerator Partnerships Percentage of Women-Led Startups

ENTREPRENEURS ROUNDTABLE

ACCELERATOR 30% 100%

100% 15%

30% 30%

40% 100%

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Women In The Tech Sector Tech Leadership Roles Held by Women

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Women-Led Startups: General Trend

15% Of the companies receiving venture

capital had a woman on the executive team

5.6% Of firms with women

decision-makers

raised more than $100M since 2009

3% Of total venture capital goes to companies with

women CEOs ($1.5B out of $50.8B between 2011-

13)

9% Of total seed stage

investments are given

to companies with women entrepreneurs

13% Of total early stage

investments are given

to companies with women entrepreneurs

86% Of venture-funded

businesses have

zero women in management

positions

Source: Womenwhotech.com

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Women-Led Startup VC Funding

117 209 342 486 523 555

1100

1500

2000

2200

2500 2450

9.5% 11.7%

14.3%

17.4% 16.8% 17.9%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0

500

1000

1500

2000

2500

3000

3500

2009 2010 2011 2012 2013 2014

U.S. Venture Funded Companies by Founder Gender

Source:Crunchbase

# of Funded

Companies [by

First Funding

Round Recorded]

% of Total

Companies w/

Female Founder

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1. INSTITUTIONAL AND ORGANIZATIONAL

2. GLOBAL WOMEN ENTREPRENEURSHIP EVENTS

3. INCREASING VC FUNDING

4. IMPROVED ANGEL INVESTMENT

5. EMERGING CROWDFUNDING FOR WOMEN

6. BETTER ROE FROM WOMEN-LED BUSINESSES

Drivers

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Institutional and Organizational Funding Institutions and Organizations

1

12

Global Women Entrepreneurship Events 2

Alibaba

“Global Conference on

Women and

Entrepreneurship”

Women Who Tech

“Women Startup

Challenge”

Women in STEM Summit

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Increasing VC Funding 3

• In 2013, 18% of venture capital deals

went to women-led companies,

while only 5% of women-led

companies received funding in 1999

by US VC funds

• Female-founded companies

received the largest investments

• Retail (43%)

• Media (17%)

• Software(6%)

Source: Pitchbook

8%

10% 10% 10%

11%

12%

16% 16% 17%

18%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Percentage of Global VC Deals Investing in Companies

With Female Founder

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Improved Angel Investment 4

• In 2014, there were 82,633 women angel

investors versus 57,967 in 2013

• This figure has grown by over 7x since

2004

• In 2014, women angels represented

26.1% of the angel market, a significant

increase from 19.4% in 2013

Source: AngelList

4%

8%

11%

14%

22%

Developer Tools

Entreprise Software

Fashion

Organic Food

Women Focused

Percentage of Women Investors by Market as of 2014

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Emerging Crowdfunding For Women 5

Equity-Based Crowdfunding

• The overall success rate was 20% while

women-led companies had a 23%

success rate

• On average, women-led companies

raised $422,370 versus $405,295 overall

Reward-Based Crowdfunding

• Women had a 70% success rate versus

61% for men in reaching their goals on

Kickstarter

• Women-owned technology companies

have a 65% success rate compared to a

30% success rate for male-owned

technology companies

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Emerging Crowdfunding For Women

Plum Alley is crowdfunding

for women by women,

founded by Deborah

Jackson.

Indiegogo, with Danae

Ringelmann as one of its

founding members,

reported that 42% of its

crowdfunding campaigns

are run by women.

Crowdfunder has Rita

Ravindra as its Chief

Operations Officer.

5

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Better ROE From Women-Led Businesses 6

• Women-led private technology

companies achieve 35% higher

return on investment

• Women-led venture-backed

companies are bringing in 12%

higher revenue than male-owned

tech companies (Kauffman

Foundation)

• 80 women CEOs produced equity

returns 226% better than the S&P

500 from 2002 to 2014 (Quantopian)

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NAME UR PRICE

SELF-

CHECKOUT

EVANGELIZE THRIVE

EXPERIENTIAL RETAIL: MAKE THE STORE AN AWESOME PLACE

CUSTOMER ENGAGEMENT: HOW DO YOU CONVERT THE CONSUMER

ALL CHANNEL: The CONSUMER CAN SHOP WHEREVER +

WHENEVER

REACTION COMMERCE

NEW RETAIL MODELS: HOW WILL THE CONSUMER SHOP IN THE

FUTURE

Four-Quadrant Disruptors Framework with

Women-led Startups

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Today’s Examples

is a social shopping community for jewelry where

customers can also help people in need by shopping

Find new jewelry

pieces from up and

coming designers

Follow your friends and

create your own jewelry

mood boards

Help those in need by

purchasing products

from The Joy Box

aspires to automate the process of curating window

displays, endcaps, and online lookbooks for retailers

and shoppers

Take your product catalogues

and merchandiser’s looks to

the right customer

Run fashion looks

through proprietary

algorithms with user data

Tailor perfect outfits for

shoppers to use in ads

or stores

Relish in 35 years of

experience in the jewelry

industry and key global

supply relationships

Provide excellent quality

engagement rings with

reasonable pricing

Let customers find their

perfect ring style

without leaving home

modernizes jewelry shopping and makes it convenient

and fun

is an online booking marketplace that allows customers

to make salon appointments anytime, anywhere

Create a marketplace for

consumers to easily book

hair and beauty

appointments

Book and confirm

appointments 24 hours a

day from any web or

mobile device

Make hair and beauty

more convenient and

enjoyable

provides in-home skincare treatments that are

personalized to each customer

Deliver professional

skin care treatments to

your home

Customize your skincare

experience with in-house

developed products

Embrace traditional

therapies and only use

the best natural

ingredients

makes plug & play sensors for clothing that

connects with the Internet of Things

Lead the way from

wearables to

“Disappearables”

Transform ordinary

garments into functional

wearables

Consist of sensors that can be

integrated into clothing as

simply as a zipper by any

manufacturer

offers collections of the best beauty products from

around the globe

Source the best yet

hard-to-find beauty

products from around

the globe

Feature a personal,

luxurious shopping

concierge with phone

consultation

Start with the bag and

create your own travel

kits easily

Thank You!

Deborah Weinswig

Managing Director

deborahweinswig@fung1937.com

US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016

June 15, 2016