WestView Capital Management LLC (formerly, WestView Capital Management Company, Inc.), WVCP Management, LLC, WVCP Management V, LLC, WestView Capital Management III, L.P., WestView Capital Management IV, L.P. and WestView Capital Management V, L.P. (collectively, “WestView”), manage private equity funds that invest in operating companies, namely WestView Capital Partners III, L.P. (“Fund III”), WestView Capital Partners IV, L.P. (“Fund IV”), and WestView Capital Partners V, L.P. (“Fund V,” and collectively with Fund III and Fund IV, the “Funds”). All WestView entities are organized or formed under the laws of Delaware. WestView has the responsibility and authority for the selection of investments and management of the Funds. The Funds are structured as limited partnership pooled investment vehicles, in which the investors purchase limited partnership interests in private placement transactions and become limited partners of a Fund. A WestView entity serves as the general partner of each Fund. WestView also refers to the Funds herein as the “Clients”. WestView Capital Management Company, Inc. was formed in 2004 as a Delaware corporation, and in May 2023, converted to a Delaware limited liability company and was renamed WestView Capital Management LLC. The owners of WestView Capital Management LLC are Jonathan Hunnicutt (“Mr. Hunnicutt), Matthew Carroll (“Mr. Carroll”) and WestView Parent, Inc. (“WV Parent”). Mr. Hunnicutt and Mr. Carroll each own 25% of the outstanding units of WestView Capital Management LLC, while Carlo von Schroeter (“Mr. von Schroeter”) and Richard Williams (“Mr. Williams) each own 50% of the outstanding shares of WV Parent, which owns the remaining 50% of WestView Capital Management LLC. WVCP Management, LLC was formed in 2004 and serves as the general partner of WestView Capital Management III, L.P. (formed in 2013 to serve as general partner of Fund III), and WestView Capital Management IV, L.P. (formed in 2017 to serve as general partner of Fund IV). WVCP Management V, LLC was formed in 2022 and serves as the general partner of WestView Capital Management V, L.P. (formed in 2022 to serve as general partner of Fund V). The principal owner of WVCP Management, LLC and WVCP Management V, LLC is WestView Capital Management LLC. Mr. Hunnicutt, Mr. Carroll and WV Parent are each principal owners of each of WestView Capital Management III, L.P., WestView Capital Management IV, L.P. and WestView Capital Management V, L.P. The investment advice provided by WestView is generally limited to private equity investments. Such investments are further subject to the investment restrictions set forth in the governing documents (including side letter agreements with certain investors) of a particular Fund. WestView’s provision of investment advice to each Client is governed exclusively by the terms of the applicable organizational documents, generally an offering memorandum, governing documents and subscription agreement. All discussions in this Brochure of the terms, investment strategies, fees and risks applicable to a Client are qualified in their entirety by reference to the applicable organizational documents. WestView has approximately $2,061,538,790 in discretionary regulatory assets under management as of December 31, 2023. Item 5: Fees and Compensation WestView receives management fees from the limited partners of each of the Clients as compensation for the investment advice and administrative services it provides to the Clients. Under the governing documents of each of the Clients, none of the limited partners of the Clients have special economic rights, including the right to pay a special or discounted management fee. WestView is paid an annual management fee based on the committed capital of the Clients during the investment period. Each Client has entered into a management agreement with WestView Capital Management LLC, pursuant to which management fees collected by such Client are paid to WestView Capital Management LLC. Thereafter, WestView is paid an annual management fee based on invested capital. The management fee is paid quarterly in advance and is not negotiable by limited partners of the Clients. See also Item 6. Item 6: Performance Fees and Side-by-Side Management A WestView entity (generally the general partner of the applicable Client) receives performance fees or “carried interest” with respect to the vehicles it manages. For each Client, the general partner is entitled to receive carried interest with respect to each investment made by such Client, which is generally equal to a percentage of the distributed capital with respect to such investment after the return of invested capital and a preferred return. Pursuant to the governing documents of the Clients, WestView is required to make all investment opportunities that come to its attention available to a Client. However, the general partner of a Client has discretion to (i) withhold opportunities that it reasonably believes are not within the purposes of a Client’s investment strategy; (ii) withhold opportunities in which WestView and its affiliates have previously invested, prior to admitting investors to a Client; (iii) withhold opportunities in which an existing Client has a pre-existing interest; and (iv) make an opportunity available exclusively to a particular Client, or to allocate such opportunity amongst multiple Clients. All such determinations by a Client’s general partner are subject to the approval of the applicable Client’s limited partner advisory board (each, an “Advisory Board”). The Advisory Boards of the Clients each consist of representatives of the limited partners of the applicable Client. Members of an Advisory Board are appointed and can be removed by the general partner of such Client. No affiliates of WestView sit on any of the Advisory Boards. The duties of the Advisory Boards generally include reviewing and approving potential conflicts of interest submitted by a Client’s general partner and reviewing valuation methodologies employed by a Client’s general partner. Item 7: Types of Clients WestView provides investment advice and portfolio management to its Clients, the three Funds. The Funds’ investors are generally individual investors that meet the “accredited investor” standard, sophisticated institutional investors, corporate pension plans, profit sharing plans, college endowments, fund of funds, pooled investment vehicles, public employee deferred compensation plans and trusts. Item 8: Methods of Analysis, Investment Strategies, and Risk of Loss Methods of Analysis; Investment Strategy WestView focuses on middle-market companies which have demonstrated both consistency and growth in their historical financial performance. WestView targets opportunities in the business services, software, IT services, healthcare technology and outsourcing, growth industrial, and consumer sectors. Each of the Funds invests in both control and non-control transactions. In non-control transactions, a Fund’s investment, often together with capital from senior or mezzanine debt sources, may be used to fund recapitalizations and liquidity payments to existing owners and/or acquisitions or other expansion needs. A Fund’s investments in these situations may often take the form of preferred stock or subordinated debt with attached equity that may be senior in ranking to retained common equity interests. These investments may also include numerous protective provisions such as blocking rights with respect to major corporate events such as the sale or merger of the company, the issuance of debt or equity capital, dividend payments or asset sales. These investments may also include mandatory redemptions; put rights, accruing dividends and a wide variety of other shareholder rights. Each of the Funds also invests in control transactions. In these transactions a Fund may be flexible in owning less than 90% to 100% of its companies and may often seek to invest in securities that have seniority over retained common equity interests. These control investments may be used to fund buyouts and recapitalizations of existing ownership and/or to fund acquisition and expansion needs of a Fund’s portfolio company. Material Risks Participation in the Funds requires the ability and willingness to accept high risks and lack of liquidity. The Funds are subject to restrictions on transferability and resale and will not be able to be transferred or resold except as permitted under the Securities Act of 1933, as amended, and, the applicable state securities laws, pursuant to registration or exemption. All types of investing involve a certain amount of risk, including the loss of invested funds. Investors in the Fund should be prepared to bear the loss of their entire investment including specific risks of loss associated with the investment in private equity securities. These include but are not limited to:
• Long-term Holding Risk: The holding periods for the Funds’ investments are typically more than three years. Thus, there may be a number of years when the only income from a WestView Fund, if any, is interest income from its temporary investments. Because income in such situations is generally not expected to be significant, operating expenses may exceed income during that period.
• Liquidity Risk: The Funds generally invest in private companies, the shares of which are not publicly traded. Unless a portfolio company subsequently succeeds in obtaining approval from the relevant authorities to list its shares on a recognized exchange, this avenue to liquidity will not be available to WestView, which must then rely on other means to achieve liquidity. In addition, the Funds may be precluded from selling its shares in a public portfolio company for some time after such portfolio company’s initial public offering.
• Leverage: Use of leverage may increase the exposure to adverse economic factors such as significantly rising interest rates, downturns in the economy or deterioration in the condition of any given portfolio company or its industry. In the event a portfolio company is unable to generate sufficient cash flow to meet principal and interest payments on its third-party indebtedness, the value of the Fund’s investment in such company can be significantly reduced or even eliminated.
• Limited Number of Investments: The Funds participate in a limited number of portfolio investments and, as a consequence, the aggregate return of the Funds can be substantially adversely affected by the unfavorable performance of

even a single portfolio investment.
• Limited Transferability of Interests: Limited partnership interests in a Fund are highly illiquid, have no public market and are not transferable except with the consent of the general partner of a Fund. Voluntary withdrawals from the Funds by investors are not permitted except under certain limited circumstances, generally relevant only with respect to investors subject to ERISA.
• Dependence on General Partners: The limited partners of the Funds have no right or power to participate in the management of the Funds. The limited partners of a Fund must rely on that Fund’s general partner and its investment professionals to make investment decisions consistent with a Fund’s investment objectives and policies, negotiate and structure a Fund’s investments, administer, monitor and add value to the portfolio companies and dispose of such investments. The success of the Funds depends significantly on WestView’s investment professionals.
• Highly Competitive Markets for Investments: The business of identifying, negotiating, acquiring, monitoring, managing and selling investments is highly competitive, and involves a high degree of uncertainty. The Funds encounter competition from other persons or entities with similar investment objectives. These competitors may include other investment partnerships, corporations, business development companies, leveraged buyout entities, small business investment companies, and individual investors.
• Reliance on Portfolio Company Management: Although the Funds intend to invest in companies with strong and stable management, there is no assurance that the existing management team of a portfolio company, or any new management team, is able to operate such company successfully. Furthermore, although the performance of each portfolio company is monitored, it is primarily the responsibility of company management to operate the business on a day-to-day basis.
• Taxation: Certain risks related to an investment in the Funds are discussed in the offering memoranda of each of the Funds. Investors are urged to consult their own tax advisors with respect to their own tax situations and the effect of an investment in a Fund.
• Potential Forfeiture of Limited Partner’s Interest: Substantial penalties may be imposed upon a limited partner of a Fund that fails to make any installment payment of its capital commitment, unless payment of that installment would be unlawful because of new laws or regulations applicable to that limited partner.
• General Partner’s Interest: The capital commitment of a general partner to a Fund represents only a small portion of such Fund’s aggregate capital commitments. Distributions of portfolio profits to limited partners of a Fund may be proportionally less than those corresponding to their aggregate capital commitments, and distributions of portfolio profits to the general partner of such Fund may be proportionally greater than those corresponding to its capital commitment. The right of a general partner of a Fund to its carried interest may create an incentive for the general partner to make investments that may be more risky or speculative than otherwise.
• Force Majeure Events: The Funds’ portfolio companies may be affected by force majeure events (i.e., events beyond the control of the party claiming that the event has occurred, including acts of God, fire, flood, earthquakes, outbreaks of an infectious disease, pandemic or any other serious public health concern, war, terrorism and labor strikes). Some force majeure events may adversely affect the ability of a party (including a portfolio company or a counterparty to a Fund or a portfolio company) to perform its obligations until it is able to remedy the force majeure event. In addition, the cost to a portfolio company of business interruption or repairing or replacing damaged assets resulting from such force majeure event could be considerable. Certain force majeure events (such as war or an outbreak of an infectious disease) could have a broader negative impact on the world economy and international business activity generally, or in any of the countries in which the Funds may invest. Additionally, a major governmental intervention into an industry, including the nationalization of an industry or the assertion of control over one or more portfolio companies or its assets, could result in a loss to a Fund that has invested in that portfolio company, including if its investment in such portfolio company is canceled, unwound or acquired (which could be without what the Fund considers to be adequate compensation). Any of the foregoing may therefore adversely affect the performance of a Fund and its investments.
• Pandemic Occurrences: Occurrences of epidemics or pandemics, depending on their scale, may cause different degrees of damage to global, national and local economies. COVID-19 (also known as novel coronavirus or coronavirus disease 2019) presents unique, rapidly changing and hard to quantify risks. In general, it has resulted in a significant reduction in commercial activity on a global scale that has adversely impacted many businesses. Governments, on the national, local and state level, have instituted a variety of measures including lockdowns, quarantines and states of emergencies, which collectively may slow the global economy to the point where it enters a recession. Although it is possible that the COVID-19 outbreak may be contained over a reasonable period of time (as vaccines are approved and deployed globally), there can be no assurance this will be the case and, in the meantime, global equity, bond and credit markets may be adversely affected. Such disruption may adversely affect the Funds’ portfolio companies and investment returns.
• Potential Ongoing Banking Crisis: Inflation, and resulting rapid increases in interest rates, have led to a decline in the trading values of previously issued government securities with interest rates below current market interest rates. Certain financial institutions holding significant positions in these government securities have accumulated substantial unrealized losses, which has impaired or could impair the ability of such institutions to meet customer and other liquidity needs. One such financial institution was Silicon Valley Bank (“SVB”), which faced the prospect of a possible “run on the bank” as depositors became concerned about the solvency of the bank and the ability of depositors to access their funds. SVB’s position became increasingly untenable and, on March 10, 2023, regulators shut down SVB and placed it in receivership under the Federal Deposit Insurance Corporation (“FDIC”). Shortly thereafter, Signature Bank was also placed in FDIC receivership. Market concern about the SVB and Signature Bank situations, as well as the risks posed to other similar-profile banks, created the potential for a domino effect across the U.S. banking sector, which was confronting its most significant set of challenges since the 2008 financial crisis. If the banking sector situation continues to deteriorate, the U.S. and/or other global economies would be adversely affected, including the possibility of recession, the duration and severity of which are difficult to predict. Among other things, a weakening in the macroeconomic situation could make it more difficult for the Funds to identify and source investments; finance and other consummate investments which are sourced or refinance existing investments; and dispose or otherwise monetize investments at attractive valuations. In addition, it is possible that the incidence of Fund investor capital call defaults may increase. The cumulative effect of the foregoing could adversely impact the value of the Funds’ holdings and overall Funds’ performance. o SVB Banking Relationship Risk: WestView Capital Management LLC currently has a material cash deposit account at SVB, Fund III currently has a material cash deposit account at SVB, Fund IV currently has a material cash deposit account at SVB and is a borrower under a credit facility with SVB, and Fund V currently has a material cash deposit account at SVB and is a borrower under a credit facility with SVB. In response to SVB being placed in FDIC receivership, and later being acquired by First Citizens Bank, WestView and the Funds initiated additional banking relationships with other banking institutions, but there can be no assurance, that WestView or the Funds will not have a business relationship with another bank or other financial institution that, in the future, is placed in receivership. o Custody Risk: If a bank has custody of Fund assets and the bank goes into receivership, the receivership could adversely impact the safekeeping of those assets and the ability to retrieve and secure such assets, and the Fund may experience delayed access to deposits or other financial assets or the uninsured loss of deposits or other financial assets. To mitigate this risk, WestView tries to select custodians with a strong balance sheet and significant capital base by conducting due diligence on financial stability including a review of the bank’s financial statements, credit ratings, and any other information regarding the bank's financial health. WestView will also, to the extent possible, diversify custodian risk by using multiple custodians to reduce the impact of a single custodian’s failure. o Risk of Access to Fund Subscription Lines or Other Working Capital Facilities: If a bank provides a Fund with a capital call subscription line or other working capital facility and the bank goes into receivership, the availability of funds under that line or facility could be adversely affected, which could in turn adversely impact the Fund’s ability to consummate investments or pay Fund expenses in a timely manner. WestView believes it can mitigate this risk by doing business with banks that have strong balance sheets and, if it has concerns that a bank will not be able to fund a subscription or other working capital facility, to call capital instead from its limited partners. Limitation of Risk Disclosures. The description of risks in this Item 8 does not purport to be a complete enumeration or explanation of the risks involved in WestView’s investment program. In addition, as WestView’s investment programs develop and change over time, as described in a Fund’s offering memoranda, Clients and investors may be subject to additional and different risk factors.