Sands Capital’s Global Innovation Fund III Close Featured in The Wall Street Journal

Disclosures:

The Global Innovation investment strategies are managed by Sands Capital Alternatives, LLC and are only available through private placement to qualified investors. The activities of the Global Innovation Strategy Team, including investment due diligence and sourcing, may be supported on an ad hoc basis by various members of the broader global research team of Sands Capital Management, as well as members of the Global Ventures Team of Sands Capital Alternatives. The companies referenced represent a selection of investments made by Sands Capital strategies and do not represent all investments made by the strategy.

Investment in a fund involves significant risk. The Global Innovation strategy is concentrated in a limited number of emerging technology and technology-enabled companies. Some of the risks impacting the strategy include technology-related risks, such as dependence on patents, cybersecurity risk, cryptocurrency risk, risks associated with investing in India and China and special risks, such as products or services not proving commercially successful or quickly becoming obsolete. No assurance can be given that a fund's investment objectives will be achieved. An investment is only suitable for sophisticated investors for whom an investment does not constitute a complete investment program, who have experience with similar types of investments, and who understand, are willing to assume, and have the financial resources necessary to withstand the significant risks involved in the investment, including the potential for a complete loss of capital. An investment strategy focused primarily on privately held companies presents certain challenges and involves incremental risks as opposed to investments in public companies, such as dealing with the lack of available information about these companies as well as their general lack of liquidity. Private equity funds often hold illiquid investments and their performance may be volatile. There also can be no assurance that companies will list their securities on a securities exchange; as such, the lack of an established, liquid secondary market for some investments may have an adverse effect on the market value of those investments and on an investor's ability to dispose of them at a favorable time or price.