Revision 3; January 26, 2004

The ideal equity investment opportunity would have the following characteristics:

(not necessarily a complete team) with relevant success in developing similar technology, starting up new businesses, and penetrating similar markets.

A market opportunity sufficiently large to create a business with revenues greater than $25 million within 5 years.

Exciting, unique products or services that meet important customer needs, obsolescing existing alternatives.

A compelling, well-articulated strategy for capturing and defending a significant market share, including key execution milestones.

A thorough understanding of the competitive landscape and a sustainable, overwhelming competitive advantage.

Strong and defensible underlying intellectual property.

Supported by a detailed list of underlying assumptions that stand up to typical investor cynicism.

Deals requiring $250K-$2MM at pre-money valuations of less than $5MM, with little or no need for additional private equity financing. Alternatively, a credible ability to accomplish significant business milestones that will attract the next funding level.

A credible, multi-option exit strategy, achievable within 5 years, with an ROI of at least 10X invested capital.

Early stage opportunities in technology, communications, e-commerce, healthcare, and industrial products and services, principally located in the New Hampshire coastal region.

Candidate firms must have the need and desire for advice and coaching, and willing to work with us as we actively advance the company.