The following presentation is neither an offer to sell securities nor a solicitation of an offer to buy securities. The securities of our VCC funds are sold only by prospectus and through registered investment advisors. Investors should consult with their own investment advisors and obtain a copy of our applicable prospectus before making a decision to invest in one of our VCC funds.

An investment in one of our VCC funds is speculative and high risk.  This presentation includes reports of past performance.  There is no guarantee that past performance will be indicative of future performance.

There is no market for our securities and liquidity may depend upon our ability to redeem our shares after the required hold period which is five years following the date we have invested our investors’ funds.  There is no guarantee that we will be able to redeem our shares if, as and when requested to by an investor.  Investors should consider this investment a long-term investment.

An investment in our securities includes a tax credit in prescribed circumstances.  Investors should review our prospectus for a full discussion on the tax aspects of an investment in our securities