Slide 1: Western Technology Investment
Exhibit 99.2 Western Technology Investment
Slide 2: Explanatory Note
N O T E 2 On August 26, 2022, P10, Inc. (“P10”) Explanatory announced that it entered into a Purchase and Sale Agreement through its subsidiary, P10 Note Intermediate Holdings LLC, to acquire the outstanding membership interests of Westech Investment Advisors LLC, a California limited liability comp
Slide 3: Firm Overview
Firm Overview WTI has been a capital partner to entrepreneurs and innovative companies over the last four decades
Slide 4: WTI Overview
F I R M O V E R V IE W 4 WTI Overview • Founded in 1980 as a pioneer in the venture debt market • Invest primarily in the United States, with deals completed internationally and a burgeoning • Provides senior secured debt capital to technology and European opportunity set life science companies • Te
Slide 5: Fund History
F I R M O V E R V IE W 5 Fund History 10 $500 Institutional Debt Funds COMMITTED CAPITAL RAISED ($USD MILLIONS) $460 $424 AS OF JUNE 30, 2022 $375 $294 $7.8B+ $270 $250 Loan Commitments $217 $110 $47 1,400+ Portfolio Companies VLL I VLL II VLL III VLL IV VLL V VLL VI VLL VII VLL VIII VLL IX WTI X Ne
Slide 6: Highlights
F I R M O V E R V IE W 6 1. Stable, recurring management fee revenue, based on 10-year WTI contractual partnership agreements Highlights 2. Established reputation and thoughtful investment process 3. Strong market position in a high barrier-to-entry growth industry 4. Diverse base of long-term insti
Slide 7: Industry Overview
Industry Overview Venture Debt serves the growing market and evolving needs of the VC community
Slide 8: VC Equity Activity
I N DU S T R Y O V E R V I EW 8 VC Equity $342 B 17,000 17,322 Activity 15,000 VC growth driven by increasing opportunity set and reallocation of public capital to private companies 12,899 13,000 12,578 11,543 11,303 11,900 Deal Activity ($B) 11,000 $167 B 9,932 10,866 Deal Count 10,389 $146 B $145
Slide 9: Venture Debt Activity
I N DU S T R Y O V E R V I EW 9 Venture Debt $33.6 B $33.1 B $33.1 B 4,000 Activity 3,500 3,619 3,203 Venture Debt market benefits from $25.6 B continued tailwinds across the 3,000 3,122 broader VC market 2,686 2,587 2,819 2,500 2,460 $17.2 B Deal Activity ($B) 2,065 2,000 $15.0 B $14.7 B Deal Count
Slide 10: The WTI Model
The WTI Model A distinct, founder-friendly approach to providing flexible and scalable venture debt
Slide 11: Investment Process & Philosophy
T H E W T I M O DE L 11 Investment Process & Philosophy I N V E S T M EN T M O DE L Operates closed-end private capital vehicles through a BDC / LLC structure Provides “Founder-Friendly Capital” as a value-added partner to technology and life science companies Finances growth opportunities, runway e
Slide 12: Platform Built for Down and Euphoric Markets
T H E W T I M O DE L Down Markets Robust Top-quality deals with improved pricing and structure as VC equity capital becomes more expensive • Companies increasingly value capital to grow past previous Platform valuations and raise successful new rounds Built to produce consistent Structural protectio
Slide 13: Unique in Flexibility + Scale
MOST FLEXIBLE T H E W T I M O DE L 13 Unique in Commercial Banks Public BDCs Niche Lenders Flexibility + Scale FDIC-regulated entities Less regulated than Specialized lenders • Reputable brand known for with financing offerings traditional banks. Larger focused on financing AR, providing “Founder-Fr
Slide 14: Management Team
Management Team Seasoned management team with extensive networks in the venture industry
Slide 15: Management Team
M AN AG E M E N T T E AM 15 Background: Venture Partner at Outlook Background: VeriSign, Wilson Sonsini, and Ventures, Chief Investment Officer at Los Alamos National Laboratories MetaMarkets. Founder & CEO of “Left at Education: B.S., University of Kansas; Albuquerque”, a VC-backed restaurant chain
Slide 16: Management Team
M AN AG E M E N T T E AM 16 Background: President and CFO of IP Wireless, Background: Founded and led a number of CEO and CFO of iAsiaWorks, and venture backed startups: CEO of scanR Inc, CFO of Phoenix Network VP of Bus. Dev. for iMediation S.A., SVP Corp. Dev. IPIX Corp, and multiple roles at Inte
Slide 17: Management Team
M AN AG E M E N T T E AM 17 Background: Previously a partner at Background: CEO of current WTI portfolio Deloitte. Led the Northwest asset management company CustomMade, an online D2C audit practice. Over 20 years of experience custom jeweler. Previously served as one of serving alternative asset ma
Slide 18: Disclosures
Disclosures
Slide 19: Important Disclosures
1 / 2 I M P O R TAN T DI S C L O S U RES 19 This material is solely for informational purposes. This document is not an offer to sell or the solicitation of an offer to buy an interest in any fund sponsored by WTI, which may be made only at the time a qualified offeree receives a Confidential Privat
Slide 20: Important Disclosures
2 / 2 I M P O R TAN T DI S C L O S U RES 20 The presentation has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. The information contained herein is subject to change at any t
Slide 21: Thank you
Thank you.