UGVP Management, LLC ("UGVP” or the “Adviser") is a limited liability company that was formed on February 7, 2014, in the State of North Carolina. Greg Bohlen and Patrick A. Cairns jointly own 100% of UGVP. UGVP generally provides investment advisory and sub-advisory services to various private investment funds and special purpose vehicles (“SPVs”) for the purpose of facilitating certain investments by one or more UGVP Funds and/or investors, as well as certain investment accounts (collectively, the “UGVP Funds”). The Adviser makes investment decisions on behalf of many of the UGVP Funds (such UGVP Funds, the “UGVP Discretionary Funds”) and makes investment recommendations on behalf of other UGVP Funds (such UGVP Funds, the “UGVP Advisory Funds”). A related person of the Adviser generally acts as general partner of each UGVP Fund. The Adviser takes whatever actions are necessary to monitor the activities of any investments made by the UGVP Funds and the financial position of the general partners of the UGVP Discretionary Funds. The UGVP Funds typically invest in securities that are not publicly traded, including investments in venture capital and private equity investment funds (“Investment Funds”) and early and growth stage operating companies (“Direct Investments”). The Adviser may also make investment decisions with respect to the securities of public and private companies held by the UGVP Funds. The Adviser manages all of the UGVP Discretionary Funds on a discretionary basis in accordance with the terms and conditions of each UGVP Discretionary Fund’s Governing Documents (as defined below). The Adviser manages the UGVP Advisory Funds on a non‐discretionary basis in accordance with the terms of each UGVP Advisory Fund’s Governing Documents. Investment recommendations made to the UGVP Funds are often subject to approval by an advisory committee or similar entity. In the future, UGVP may provide advisory services to other types of advisory clients. Interests in the UGVP Funds are offered exclusively to accredited

investors pursuant to Section 3(c)(1) and/or qualified purchasers pursuant to Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “Investment Company Act”). In general, the UGVP Funds are formed to make, hold and dispose of privately negotiated equity and equity‐ related investments, either in Investment Funds or Direct Investments. The Adviser tailors its advisory services to the specific investment objectives and investment restrictions of each UGVP Fund pursuant to the confidential private placement memorandum, limited partnership agreement, LLC operating agreement, or other governing documents of such UGVP Fund (the “Governing Documents”). Investors and prospective investors should refer to the Governing Documents for more complete information on the investment objectives and investment restrictions with respect to such UGVP Fund. There is no assurance that any of the UGVP Funds’ investment objectives will be achieved. In accordance with common industry practice, one or more of the UGVP Fund general partners may enter into “side letters” or similar agreements with certain investors pursuant to which the general partner grants such investors specific rights, benefits, or privileges that are not generally made available to other investors. The Adviser does not enter into such side letters if they would result in a material change in the investment objectives of the UGVP Funds. The Adviser does not participate in wrap fee programs. As of December 31, 2023, the Adviser is able to provide its regulatory assets under management as of September 30, 2023, which are $320,604,383, under management on a discretionary basis, and $301,107,143 under management on a non-discretionary basis. The entire amount of regulatory assets under management as of December 31, 2023, will be provided via an other-than-annual amendment to this Brochure at such time as the necessary asset valuations are received (see expanded disclosure in Schedule D, Miscellaneous within the Adviser’s Form ADV Part 1).