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Guys,

We held the second closing today. As of now we have closed a total of $74
million in commitments for RSTP funds. With this closing, our annual fee
stream is $1 million before placement fees. This is a good start, and with
some more hard work before the end of the year we can realistically bring
this fee stream to north of $5 million annually.

Today we closed an additional $16,250,000 from Neuberger Berman, Brandon
Adams and Donnie Storino. Neuberger also confirmed they will commit another
$5 million to the fund in August from a Kentucky pension fund mandate they
just closed. That will bring the RSTP II, L.P. committed capital to about
$30mm, giving us the ability to write discretionary checks of up to $6
million.

Neuberger also committed a $10 million check to the Counsyl Series D which
will fund on Tuesday. This brings the Series D size up to $41.4 million,
more than doubling balance sheet cash and giving Counsyl significant
resources to accelerate growth.

Huge milestone to bring on our first institutional investor into RSTP II,
L.P. Congrats to all on this EPIC accomplishment! Following on our success
with Goldman, this shows we can close the most discriminating of
institutional LPs, who now also sit on our advisory board and are strong
references for us. Goldman is also going to investment committee on Tuesday
around taking the remaining $8.6 million of the Series D and also
committing to our fund directly before the August 5th final Series D
closing deadline. Julia is pumped we closed NB and this, along with the
direct oppty we are giving them for the first time, gives her ammo with her
IC.

We should have a distribution of fees next Tuesday reflecting this closing.
I am looking forward to working together to get the rest of this fund
closed. We are entering the second half of the year with the wind at our
backs. Word is getting out that we are the future of growth equity and have
the best team in the world.

Great work everyone!

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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