Palisades provides investment advisory services to venture capital and growth stage funds, including Palisades Ventures, L.P., Palisades Qualified Investors, L.P., Palisades Non-Qualified Investors, L.P. Palisades Growth Capital II, L.P. and Palisades Growth Capital III, LP (collectively, the “Palisades Funds” or the “Funds”, and each individually a “Fund” or a “Palisades Fund”), that are each exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). Palisades is the investment adviser to each of the Palisades Funds with its principal place of business located in Los Angeles, CA. Palisades was formed as a Delaware limited liability company in 2000. As the investment adviser for each Palisades Fund, Palisades identifies investment opportunities and participates in the acquisition, management, monitoring and disposition of investments for each Palisades Fund. Palisades primarily provides investment advisory services related to venture capital and growth stage investments in Technology, Media & Telecommunications, and business services sectors (the “Target Sectors”). In addition to the Target Sectors, Palisades also provides investment advisory services related to venture capital and growth stage investments in Technology Enabled Sectors, including Healthcare Services, Consumer/Retail, Manufacturing Services, Environmental Services and Financial Services. These venture capital and growth stage investments generally take the form of privately-negotiated investment instruments. Palisades provides investment advisory services to each Palisades

Fund pursuant to a separate investment advisory agreement (each, an “Investment Advisory Agreement”). The terms of the management services to be provided by Palisades to a Palisades Fund, including any specific investment guidelines or restrictions, are set forth in each Fund’s Investment Advisory Agreement and in each Fund’s partnership agreement. Palisades or its related entities also may enter into side letter agreements with certain investors in the Palisades Funds, establishing rights under, or supplementing or altering the terms of, the applicable limited partnership agreements relating to such Palisades Funds with respect to such investors. While Palisades and its related entities have no obligation to offer any such additional rights, terms or conditions to any other investor in such Palisades Funds, Palisades and its related entities generally disclose the presence of such arrangements to all limited partners of the relevant Palisades Funds. Once invested in a Palisades Fund, investors cannot impose additional investment guidelines or restrictions on such Palisades Fund. Palisades reserves the rights to waive the minimum investment for certain investors within the Palisades Fund. In connection with the provision of its investment management services, Palisades entered into a Fund Administration Services Agreement (“FASA”) with Centre Partners Management LLC (“Centre”), an established third-party private equity firm to provide finance, bookkeeping, compliance, information technology and other administrative services to Palisades and the Palisades Funds. As of December 31, 2023, Palisades managed a total of $147,473,922 of client assets, all of which are managed on a discretionary basis.