SJF Ventures: SJF Ventures: Mission-Driven Venture Capital

www.sjfund.com

Regional Investment Roundtable on Sustainable Job Growth, Pittsburgh, PA

June 5, 2006

Rick Larson, Managing Director

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Institutional InnovationInstitutional Innovation

SJF Ventures• Founded in 1999 with offices in Durham and Philadelphia• $32MM under management in two funds• Now investing from SJF Ventures II

SJF Advisory Services• 501(c)(3) nonprofit• Founded 2001• Entrepreneurial, workforce, and sustainability assistance to portfolio and prospect companies

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SJF Investment FocusSJF Investment Focus Strategy and Sectors: Rapidly-growing companies whose

competitive advantage includes environmental or workforce innovation. Sectors:Clean technologies in mainstream markets

Technology-enabled business services

Premium and natural consumer products

Geographic Focus: Primarily eastern US

Investment Size: $500K to $1.5MM investments, independently or with a syndicate in rounds up to $7MM

Investment Stage: Expansion-stage companies with revenues of $1MM to $20MM at an inflection point for growth

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Clean Technologies ExampleClean Technologies Example

Location: Titusville, PA and Harrisburg, PA

Business Description: Salvage Direct provides salvage vehicle management services and hosts online auctions for the auto insuranceindustry.

SJF Investment: $575K, September 2002

Jobs Creation: 27 jobs at investment, 64 jobs today (70% entry-level)

Highlights: • Rapid, profitable growth, $2MM 2002 to $11MM 2004

• Efficient automotive reuse and recycling

• Rural Appalachian revitalization

• Quality employment and supportive culture for advancement

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Business Services ExampleBusiness Services Example

Location: Nelsonville, OH

Business Description: Ed Map provides software tools, management support and fulfillment services that help institutions and corporations manage educational materials distribution for distance learning programs.

SJF Investment: $607K, March 2004

Jobs Creation: 23 jobs at investment, 60 jobs today (58% entry-level)

Highlights: • Revenue growth - $1.5MM in 2003, $12MM in 2004, currently at a $36MM annual run rate

• Quality jobs in rural Appalachia with community revitalization

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Consumer Products & Exit ExampleConsumer Products & Exit Example

Location: Harrison, NY and Yonkers, NY

Business Description: DDF produces skincare products, including cleansers, moisturizers, anti-aging and acne treatment products

SJF Investment: $200K, November 2001; $610K exit, April 2004

Jobs Creation: 75 jobs at investment, 132 jobs at exit (73% entry-level)

Highlights: • 3X return in 2.5 years for a 67% IRR

• Early exit through sale to private equity fund

• Employee stock option plan and other benefits

• Relocation to expanded facility in Empire Zone in Yonkers, NY