4. A.
L2 Point, a Delaware limited liability company, was founded in June 2019. The Firm’s
principal place of business is San Francisco, California. Kerstin Dittmar is the principal owner
and sole member of L2 Point. L2 Point is a woman-led emerging manager focused on
innovative capital solutions for growth companies.
4. B.
L2 Point provides discretionary investment management services to affiliated privately
offered, closed-end investment vehicles (each, individually, a “Fund” and, collectively, the
“Funds”) with respect to investments in portfolio companies and other investments. The
Funds are also referred to as the “Client” or “Clients.” L2 Point currently serves as the
investment adviser to L2 Point Opportunities I, L.P. (the “Main Fund”), as well as investment
adviser to certain Funds formed to co-invest in one or more investments with the Main Fund
and/or to invest in one or more particular investments (collectively, the “Other Investment
Vehicles”). The Main Fund and each Other Investment Vehicle are each referred to herein as
a Fund or a Client.
Generally, L2 Point pursues a structured equity investment strategy which aims to provide
investors in a Fund (the “Investors”) exposure to growth companies with mitigated
downside risk through structural protections and contractual returns, and meaningful upside
potential through equity participation.
L2 Point itself does not act as a general partner of any Fund. Instead, certain of L2 Point’s
affiliates serve as general partners or managing members of the Funds (each, a “General
Partner”) and rely on L2 Point to perform investment advisory services to the Funds.
In addition to L2 Point’s advisory business (advisory services provided to the Funds),
the Firm manages
a single purpose vehicle that indirectly invests in real estate which includes
single family homes.
4. C.
The Firm’s investment management and advisory services to the Funds are provided
pursuant to the terms of the limited partnership agreement, confidential private placement
memorandum, investment management agreement, subscription materials and/or other
governing agreements (collectively the “Governing Documents”) applicable to the relevant
Fund and are based on the specific investment objectives and strategies as disclosed in such
Governing Documents. Each Fund may impose restrictions on investing in certain types of
investments in accordance with achieving its investment objectives and strategies, or
pursuant to its Governing Documents. Investors should refer to the Governing Documents of
the applicable Fund for complete information regarding the investment objectives,
investment restrictions and other information with respect to such Fund.
In accordance with common industry practice, a General Partner will enter into “side letters”
or similar agreements with certain Investors pursuant to which the General Partner grants
the Investor specific rights, benefits and/or privileges that are not made generally available
to other Investors. These side letters or similar agreements generally are disclosed only to
Investors in the applicable Fund that have the right to review such side letters or similar
agreements or pursuant to a “most favored nations” provision.
4.D.
L2 Point does not participate in wrap fee programs.
4.E.
L2 Point had approximately $395,106,828 advisory Client regulatory assets under
management. As of that date, the Firm managed $395,106,828 on a discretionary basis and
no assets on a non-discretionary basis.