Firm Business Arthur Ventures Management 2, LLC and its relying adviser, Arthur Ventures Management, LLC (“Arthur Ventures” or the “Firm”) is a venture capital firm which invests in business-to-business software and services companies based in the US and Canada primarily at the early growth and growth stages. Based in Minneapolis, Arthur Ventures Management 2, LLC was founded in 2023 and Arthur Ventures Management, LLC was founded in 2013. Arthur Ventures serves as the investment adviser for, and provides discretionary investment advisory services to, private funds exempt from registration under the Investment Company Act of 1940 (the “Investment Company Act”). Each Fund is affiliated with a general partner (“General Partner”) with authority to make investment decisions on behalf of the Funds. The General Partners are deemed registered under the Investment Advisers Act of 1940, as amended, and the rules and regulations promulgated thereunder (“Advisers Act”), pursuant to Arthur Ventures’ registration in accordance with SEC guidance. The applicable General Partner retains investment discretion and investors in the Funds do not participate in the control or management of the Funds. While the General Partners maintain ultimate authority over the respective Funds, Arthur Ventures and the relying adviser have been designated the role of investment advisers. References to Arthur Ventures throughout this Brochure also refers to the General Partners, as the context requires. For more information about the Funds, General Partners and relying adviser, please see Arthur Ventures’ Form ADV Part 1, Schedule D, Section 7.A., Section 7.B.(1) and Schedule R. Advisory Services Arthur Ventures provides investment advisory services as a venture capital fund manager to its Funds. The Funds invest through privately negotiated transactions in operating companies, generally referred to as “portfolio companies”, in the business-to-business software industry. Each portfolio company has its own independent management team responsible for managing its day-to-day operations. In certain cases, members of Arthur Ventures or representatives appointed by Arthur Ventures serve on the boards of directors of , or otherwise act to influence control of the management of, such portfolio companies. Arthur Ventures’ investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions of such investments. Investments are made predominantly in nonpublic companies, although investments in public companies are permitted in certain instances. Specifically, on occasion, an Arthur Ventures portfolio company has been purchased by a public company or an Arthur Ventures portfolio company has gone public through an initial public offering. Arthur Ventures’ investment advice and authority for each Fund is tailored to the investment objectives of that Fund; Arthur Ventures does not tailor its advisory services to the individual needs

of investors in its Funds. The Fund investment objectives are described in and governed by, as applicable, the limited partnership agreement, subscription agreements, side letter agreements and other governing documents of the relevant Fund (collectively, “Governing Documents”). Investors determine the suitability of an investment in a Fund based on, among other things, the Governing Documents. The Firm does not seek nor require investor approval regarding each investment decision. Fund investors generally cannot impose restrictions on investing in certain securities or types of securities, other than through side letter agreements. Investors in the Funds participate in the overall investment program for the applicable Fund and generally cannot be excused from a particular investment except in certain circumstances pursuant to the terms of the applicable Governing Documents. In accordance with industry common practice, Arthur Ventures has entered into side letters or similar agreements with certain investors including those who make substantial commitments of capital, or for other reasons in the sole discretion of Arthur Ventures, in each case that have the effect of establishing rights under, or altering or supplementing, a Fund’s Governing Documents. Examples of side letters entered into include provisions whereby investors have expressed an interest in participating in co-investment opportunities or participating in a future fund, notification provisions, advisory committee representation, reporting requirements and “most favored nations” provisions, among others. These rights, benefits or privileges are not made available to all investors, consistent with the Governing Documents and general market practice. Commencing in March 2025, Arthur Ventures will make required disclosure of certain side letters to all investors (and in certain cases, to prospective investors) in accordance with the new Private Fund Rule. Side letters are negotiated at the time of the relevant investor’s capital commitment, and once invested in a Fund, investors generally cannot impose additional investment guidelines or restrictions on such Fund. There can be no assurance that the side letter rights granted to one or more investors will not in certain cases disadvantage other investors. Arthur Ventures does not participate in wrap fee programs. Principal Owners Arthur Ventures Management 2, LLC is controlled and ultimately owned by Managing Directors Patrick Meenan and Ryan Kruizenga. Arthur Ventures Management LLC is controlled by Messrs. Meenan and Kruizenga and is ultimately owned by Messrs. Meenan, Kruizenga and Founding Partner James Burgum. For more information about Arthur Ventures’ owners and executive officers, see Arthur Ventures’ Form ADV Part 1, Schedule A, Schedule B and Schedule R. Regulatory Assets Under Management As of March 31, 2023, Arthur Ventures managed approximately $1.478 billion in Fund regulatory assets under management, all managed on a discretionary basis.