QuestMark Partners

Don't aim for an exit, build for long-term standalone success

The best teams win

• $5-15 million for our initial investment, with ample reserves to support continued growth
• We build relationships with management teams and investors well ahead of a fundraising event
• This creates an immediate base of trust to build upon

We welcome "reverse" due diligence on QuestMark.

We're proud of the relationships we've built with our CEOs.

• With our limited partners and close co-investors, we have the capacity to invest $25-30 million in appropriate situations
• We typically lead financings; however, we welcome investing alongside co-investors that are growth-oriented, experienced in private market investing, and aligned in vision
• In either case, we will support the companies with equal vigor
• We prefer to complete due diligence and submit a fully-baked ready to invest term sheet
• We prefer companies with strong (and real) recurring revenue
• Stagewise, there's no magic revenue number; it's more about momentum and fueling a proven, go to market strategy
• We invest to accelerate and establish clear market leadership
• We invest in teams pursuing ideas big enough to support long-term standalone success
• We also fund acquisitions and are open to partial secondary purchases that maintain stakeholder alignments
• We're opportunists, with particular interest in enterprise software, vertically-focused cloud software, mobile software, tech-enabled business services, security, financial technology, consumer internet, and healthcare IT

THE LEVERAGE OF AN ENTIRE TEAM

• Our approach is active, often proactive, within the effective flow of management's efforts
• As an entire team, we work tirelessly on behalf of our companies
• This can be making the right introduction at a critical moment, paving the way for continued investor interest, or taking the requisite preparation time to be a true thought partner with your team
• We are glad to get deeply involved when called upon
• We've led financing processes, quarterbacked IPOs on behalf of the board, and negotiated deals with strategic partners
• Great alignment leads to better answers and quicker action
• We believe in establishing and maintaining effective dialogue and interaction between the management team, the board, and the investors
• During diligence, we provide a list to the prospective CEO of all of our past and current CEOs for reference
• Not all the situations worked out well from a return perspective, but we take pride in being a supportive partner in all situations
• We and our Limited Partners are patient
• Our holding periods have ranged from one to thirteen years

Ben Schapiro Founder & Partner

In 1966, Ben began his career in investment banking at Robert Garrett & Sons, which merged into Alex Brown & Sons in 1974 Throughout his 32-year tenure, his efforts encompassed institutional, international and private client accounts, real estate finance, corporate finance, merger and acquisition transactions as well as public and private investing in emerging growth companies In 1998, he left Alex Brown to organize QuestMark with the original investment criteria and objectives that exist today He has served as chairman, vice chairman and trustee or board member of a number of endowment funds, charitable organizations and professionally managed portfolios Ben graduated from Randolph-Macon College in 1964 with a degree in Economics

Ben currently is or has been a member or active observer on the boards of ADARA, Align Technology (ALGN), AngioScore (acquired by Spectranetics), Aspect Medical Systems (ASPM), eHealth (EHTH), Fortify Software (acquired by HP), GeneOhm Sciences (acquired by Becton Dickinson), GenVault (acquired by IntegenX), Guavus (acquired by Thales), Hospital Partners of America, IntegenX, Kodiak Networks (acquired by Motorola Solutions), Mformation (acquired by Clearlake Capital Group), Nimblefish (acquired by RR Donnelley), Rhythm NewMedia (acquired by blinkx), SeniorHealth, Salient Surgical Technologies (acquired by Medtronic), TrialPay (acquired by VISA), Vapotherm, Venafi, Xirrus (acquired by Riverbed), and Yub (acquired by Coupons com)

Tim joined QuestMark at its founding in 1998 as the Chief Financial Officer Through the end of 2005, he managed all internal financial matters and assisted with transaction sourcing, due diligence, and financial analysis Beginning in 2006, Tim relinquished the CFO role to focus on investment opportunities and his board positions

After receiving his MBA from the University of Virginia's Darden School in 1990, he spent from 1990 to 1998 working in various management capacities at operating companies and two start ups Tim is a graduate of Princeton University He is a Chairman Emeritus of Calvert School in Baltimore and a member of the Greater Baltimore Medical Center board

Tim currently serves on the boards of Discover Books and is a board observer for Urban Airship In the past, he served on the boards of Engineous Software (acquired by Dassault Systems), Enpirion (acquired by Altera), iStreamPlanet (acquired by Turner Broadcasting Systems), NetBotz (acquired by American Power Conversion), Overture Networks (acquired by ADVA Optical Networking), RealLifeHR (acquired by Hewitt Associates), Vidyo, and SeniorHealth and served as a board observer for Virtustream (acquired by EMC) and Applause (acquired by Vista Equity Partners)

Mike joined QuestMark in 2004 and became a partner in 2007 Prior to joining QuestMark, Mike was a management consultant with the Boston Consulting Group, where he worked with clients in the telecom, healthcare, energy, and retail industries Previously, he was an intelligence officer in the US Navy

Mike focuses on growth equity investments in emerging leaders in new markets, as well as companies positioned to assume substantial share in established markets through an advantaged approach Sector interests include SaaS/enterprise software, tech-enabled business services, consumer internet, and healthcare IT