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Brian,

Please find attached our updated PPM. We tried to remove all references to
"Venture Capital" in this document and go only with Growth Equity
terminology-- I believe the only reference to "Venture Capital" is now in
the risk factors relating to VCOCs.

Also note we added the 8% preference in the fund docs but not to this
document so I added it on page 21--please confirm language.

Finally, we rewrote the track record section to have RSTP stand on its own
rather than showing the returns of the legacy PE co-invest fund with which
we are affiliated. If that data is requested we can share it in a separate
disclosure.

The rest of the doc is largely the same with the exception of updated bios
for recent investments, address updates for our website (rstp.com is
launching next week) and new SF office.

I'd appreciate your comments on this as we plan to relaunch our marketing
as soon as possible as we move to our second closing.

Best,

John


John DeLoche
*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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