Shepherd Ventures' objective is to generate significant capital appreciation through a balanced portfolio of first and later stage equity investments in carefully selected, wisely shepherded growth companies. Our focus is on information technology and life sciences companies characterized by passionate and experienced management teams, compelling value propositions and extraordinary upside potential. We concentrate on companies located in Southern California and the Southwest, particularly San Diego, where we believe there is a significant shortage of venture capital.

FIRST STAGE COMPANIES WITH DISRUPTIVE TECHNOLOGIES
First stage companies are those with products that incorporate a disruptive technology, that are (or are about to be) commercially released, and that are capable of creating a valuable new paradigm in their category. In particular, we look for companies with completed products, where sales channels have been defined, and when possible, validated by a purchase order or letter of intent from a bona fide customer. Companies should exhibit a sustainable competitive advantage that will drive them to market or sector dominance and a credible path to profitability. Investments in these companies may be part of the first or second round of institutional capital. Seed stage opportunities will generally not be considered.

LATER STAGE COMPANIES INCLUDING THOSE WITH 'BACK TO BASICS' FUNDAMENTALS
Later stage companies are those that either have received prior rounds of venture capital, or have achieved growth and operational maturity without venture funding. These companies would be established technology companies with existing revenue and proven management teams. They likely will have profitable products, brand identity, market traction, and satisfied customers.

INDUSTRY SECTORS
The Shepherd Ventures Managing Directors, Venture Partners and Advisors are industry leaders who have extensive experience operating, guiding and investing in First and Later Stage information technology and life sciences companies. In particular, we seek investments in the following industry sectors:

Information Technology
Software
Enterprise Applications
Wireless & Mobile Computing
Networking
Communications Infrastructure

Life Sciences
Medical Devices
Biotherapeutics
Specialty Diagnostics
Bioinformatics
Healthcare IT