Subject: Re: Qatar Holdings
From: "Devon Archer" <[email-masked]>
To: "John DeLoche" <[email-masked]>
Cc: "Hunter Biden" <[email-masked]>, "William Lee" <[email-masked]>, "Neil Callahan" <[email-masked]>
Date: Wed, 7 May 2014 10:09:59 -0400

Great.  We leave for Doha Saturday night and will have three days there retuning the 14th.  A clear framed ask is all we can ask for at this point.  Will follow through.

Devon Archer
646 436 3745

> On May 7, 2014, at 9:43 AM, John DeLoche <[email-masked]> wrote:
> 
> Guys,
> 
> I just got off the call with Mohammed at Qatar holdings. Great intro from Hunter and great call. He is the big boss that runs the group. There is a guy who runs fund commitments below him and they are totally coordinated. 
> 
> He also told me as he told Hunter in DC that they like to do co-investments and then fund commitments. We had the same conversation we have been having with Neuberger and others about the price of admission for co-investments in our deals being a fund commitment. He gets it and it was a constructive conversation. 
> 
> He said they typically like to do $100mm fund commitments but they do not want to be more than 20% of a fund. He understands our smaller fund size strategy and agrees with it. He said they can be flexible on the fund commitment size for venture/growth strategies.
> 
> We talked a lot about Counsyl and how attractive the deal is, the fact that we have over $50mm committed to the company already, etc.
> 
> The deal I proposed to him is that they dual track putting $50mm into our fund and we also convince Counsyl to increase the size of this round to $100mm so they can write a $50mm direct check into Counsyl. This would accomplish their goal of a minimum $100mm commitment and accomplish our goal of having them be a meaningful fund LP who would have priority for future co-investments.
> 
> He said we should keep the dialog going along these lines when Hunter is in Doha in the coming weeks. I think Hunter can sell him on the structure I proposed above when he is in Doha.
> 
> Let's discuss.
> 
> Best,
> 
> John
> 
> John DeLoche
> Co-founder and Managing Director
> Rosemont Seneca Technology Partners
> 333 Bush Street, 21st Floor
> San Francisco, CA 94104
> office: 415 767 1288
> mobile: 415 793 7070 
> 
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