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Gents,

Good progress on Lyft (Project Leo) and Counsyl this week Goldman.

They are checking conflicts on Leo with the goal of going to investment committee around a $25mm investment that we would manage. They are aware if deal timing and are going to operate accordingly. Leo closed $80mm of the $150mm round yesterday (Coatue and Andreessen). Deal memo in progress.

On Counsyl, they are very enthusiastic about moving forward with a primary/secondary round. The thought is to price a $20mm primary as well as buy an additional $10mm of secondary (an additional $30mm investment we would manage). We are likely submitting term sheet to Counsyl Monday on this.

They are looking forward to the closing dinner which will also possibly be a due diligence trip for them around the additional Counsyl investment. Julia is bringing her fiancé to dinner. Would be great for all of us to being spouses if possible. We can make this an official RSTP fundraising event and expense travel/hotel for teams and families.

Let's discuss in the partner call Monday.


Best,

John


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