Subject: Fwd: Counsyl Incentives
From: "Neil Callahan" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Tue, 22 Jul 2014 18:25:57 -0400

Crazy but true - we really can control our own destiny here.  $50m of GP carry is over $10m or so each on 1 deal, never mind the fund or future deals -carpe diem!

Now we know how Romney got so rich! :)

--------------------
Neil Callahan
Rosemont Seneca
917-945-9516

Begin forwarded message:

> From: John DeLoche <[email-masked]>
> Date: July 22, 2014 at 5:59:08 PM EDT
> To: Neil Callahan <[email-masked]>, William Lee <[email-masked]>, Hunter Biden <[email-masked]>, Devon Archer <[email-masked]>, Rob Walker <[email-masked]>, Eric Schwerin <[email-masked]>
> Subject: Counsyl Incentives
> 
> Team,
> 
> Please take a look at this file which we can walk through at the beginning of our business development call for Counsyl tomorrow. 
> 
> Bottom line, our $55 million investment is already in the money to the tune of $1.5 million of GP value created in Counsyl. This is nothing compared to what we stand to gain if we mobilize the network to help them grow. 
> 
> I would be disappointed if we do not generate more than $50mm of GP value with this one deal. There is precedent for genetic testing companies to trade at significant premiums, including Myriad which has a $3bn market cap on a single test (BRCA1/2, which Counsyl is disrupting). Labcorp and Quest are both $9 billion companies and Illumina is a $23 billion company.
> 
> If Counsyl is truly to be the next generation Labcorp or Quest, they might be able to scale beyond a $5bn market cap (half that of Labcorp and Quest) which would create $80 million of wealth for the partnership, but they will need our help to do so. We are fortunate to be the largest shareholders in Counsyl and to have this opportunity. This one deal could create life changing wealth for us. Let's make it happen!
> 
> 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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