Illustrative Financial Statements

1 Kpmg/aPrivate Equity & Venture CapitalIllustrative Financial StatementsDecember information contained in these Illustrative Financial Statements is of a general nature relating to private investment companies only, and is not intended to address the circumstances of any particular entity. The form and content of Financial Statements are the responsibility of any specific entity s management. These Illustrative Financial Statements : (a) are intended to provide general information on the application of accounting principles generally accepted in the United States of America effective as of December 31, 2015, and do not include all possible disclosures that may be required for private investment companies; (b) are not intended to be a substitute for management s review of applicable law or accounting standards or for professional judgment as to the adequacy of disclosures and fairness of presentation.

2 And (c) are being provided with the understanding that the information contained herein should not be construed as legal, accounting, tax or other professional advice or services, and that no one should act on any information contained herein without the appropriate professional advice provided in connection with the entity s particular situation. Although we endeavor to provide accurate and timely information, there can also be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Certain information contained in these Illustrative Financial Statements may be superseded as new guidance or interpretations are issued.

3 Financial statement preparers and other users of these Illustrative Financial Statements are therefore cautioned to stay informed of, and carefully evaluate, subsequent authoritative and interpretative guidance. 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS 509386 Table of ContentsPrivate Equity/Venture Capital, StatementsStatement of Assets, Liabilities and Partners Capital ..3 Schedule of Investments ..4 Statement of Operations ..6 Statement of Changes in Partners Capital ..7 Statement of Cash Flows.

4 8 Notes to Financial Statements ..9 AppendixAppendix A Investments in Private Investment Companies ..25 Appendix B Adoption of ASU 2015-07 ..30 Appendix C Liability for Unrecognized Tax Benefits ..31 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS 5093861 / Financial StatementsPrivate Equity/Venture Capital, 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity.

5 All rights reserved. NDPPS 509386kpmg / 2 Please refer to the conditions of use on the inside cover of this publication. 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS 5093863 / Financial StatementsPrivate Equity/Venture Capital, of Assets, Liabilities and Partners CapitalDecember 31, 20 XXSee accompanying notes to Financial Statements .(1) Refer to guidance in ASC 505-10-45-2 to determine classification of capital contributions receivable as an asset or as a reduction of partners capital.

6 (2) Private investment companies are permitted to present partners capital as a single caption. The information presented provides an example of the cumulative components of partners capital, which are commonly presented by venture capital , at fair value (cost $649,396,000)$ 780,640,000 Cash and cash equivalents8,215,000 Interest and dividends receivable500,000 Due from related parties57,000 Escrow proceeds receivable85,000 Capital contributions receivable(1)900,000 Other assets118,000 Total assets$ 790,515,000 Liabilities and partners' capitalLiabilitiesManagement fee payable$ 2,080,000 Capital distributions payable1,050,000 Notes payable100,000 Accrued expenses and other liabilities45,000 Total liabilities3,275,000 Partners capital(2)

7 Capital contributions600,000,000 Capital distributions(87,982,000)Syndication costs(150,000)Net investment loss(15,503,000)Net realized gain on investments144,379,000 Net unrealized gains on investments131,244,000 Net realized gain on foreign currency transactions5,231,000 Net unrealized gains on translation of assets and liabilities denominated in foreign currencies10,021,000 Total partners capital787,240,000 Total liabilities and partners capital$ 790,515,000 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved.

8 NDPPS 509386kpmg / 4 Private Equity/Venture Capital, of InvestmentsDecember 31, 20 XXSee accompanying notes to Financial of Shares or Principal AmountCostFair ValueInvestments, at fair valuePrivate operating companiesUnited StatesConsumer TechnologyPrivate Consumer Technology Company 1 Preferred Stock30,000,000$ 150,000,000$ 180,290,000 Common Stock10,000,00010,000,00033,000,000 Notes, , due 7/15/20XX $ 10,000,00010,000,00012,000,000170,000,00 0225,290,000 Private Consumer Technology Company 2 (1)Preferred Stock10,000,000100,300,000120,000,000 Warrants, expire 1/31/20XX3,000,000596,0003,000,000100,89 6,000123,000,000 Health CarePrivate Health Care Company 1 Preferred Stock7,500,00080,000,000100,000,000 Common Stock2,000,00025,000,00017,500,000105,00 0,000117,500,000 Private Health Care Company 2 Contingent consideration (2)

9 -100,000 Total United States 375,896,000 465,890,000 Percentage of partners capital59%ChinaConsumer TechnologyPrivate Consumer Technology Company 3 Common Stock15,000,00030,000,00035,000,000 Notes, , due 8/30/20XX $ 5,000,0005,000,0008,000,000 Warrants, expire 8/25/20XX8,000,000750,0001,250,00035,750 ,00044,250,000 Total China 35,750,000 44,250,000 Percentage of partners capital6%Total private operating companies$ 411,646,000$ 510,140,000(1) Private Consumer Technology Company 2 is held in JS Blocker Corp., which is wholly owned by Private Equity/Venture Capital, (2) An accounting policy election should be made as to whether contingent consideration is recognized as a Financial asset measured at fair value or treated as a gain contingency under ASC 450.

10 2016 KPMG LLP, a Delaware limited liability partnership and the member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. NDPPS 5093865 / Financial StatementsPrivate Equity/Venture Capital, of Investments (continued)See accompanying notes to Financial 31, 20 XXNumber of Shares or Principal AmountCostFair ValueMarketable securitiesUnited StatesConsumer TechnologyPublic Consumer Technology Company 1 Common Stock44,000,000$ 125,000,000$ 145,000,000 Public Consumer Technology Company 2 Common Stock32,000,000112,750,000125,500,000 Total United States237,750,000270,500,000 Percentage of partners capital34%Total marketable securities237,750,000270,500,000 Total investments, at fair value$ 649,396,000$ 780,640,000 Percentage of partners capital99%Investments by type, at fair valuePercentage of Partners CapitalCostFair ValueNet Unrealized Gain (Loss)