Life Sciences Fund
Description
• Target investments at the intersection of life sciences and technology including:
o Early detection and prevention of cancer and other diseases
o Molecular diagnostics and personalized medicine
o Consumer/patient empowerment
• Target fund size: $250-400m
• Term: 10 years
• Expected Launch: January 2014
Structure
• Branding: DST
• Three partners: DST, Boris Nikolic and Saurabh Gupta
o Boris and Saurabh will be Managing Partners
• GP contribution: DON of fund size
• Joint decision making
• Operational support to be provided by DST Global Advisors
Economics
• Carried interest split:
o DST — 50%
o Boris Nikolic — 25%
o Saurabh Gupta — 25%
• Management fee share:
o Boris Nikolic to receive 100% of all fees (less expenses) on the first $5m of fees
o All fees beyond the first $5m (less any remaining expenses) to be split in line with carried interest
Key LP Terms
• $10m+ capital commitment
• 2.0% management fee and 20% carried interest on net returns
Key Investment Terms
• Non-controlling investments
• Founder friendly terms
STRICTLY CONFIDENTIAL
EFTA_R1_00412215
EFTA01948118