BGV VC Management LLC

Item 5. Fees and Compensation
Fees

In general, the Firm earns management fees, and affiliated general partners have the potential to
earn performance-based compensation, from each of the Funds. The Firm or its affiliates or
employees/partners may also receive certain Transaction Income (defined below). In accordance
with the relevant Governing Documents, Transaction Income is applied to offset or reduce the
management fee payable to the Firm by the Funds the (“Offsetting Amount”). To the extent the
Offsetting Amount reduces the Management Fee in a given quarter below zero, such excess amounts
shall be carried forward to subsequent quarters until fully applied to reduce the Management Fee.
Only the portion of Transaction Income attributable to a Fund’s investment in a portfolio company
shall reduce the management fees payable by that Fund. The Firm reserves the right to waive
management fees for certain affiliates and/or Limited Partners.

Refer to the applicable Governing Documents for detailed information on the amount and
calculation of fees.

Management Fee

The Firm typically receives management fees from the Funds (indirectly from Limited Partners)
and from its SPVs (indirectly from participants in those SPVs). Management fees are payable
quarterly in advance (dependent upon the applicable Governing Documents, but in no event will
management fees be collected 6 months or more in advance). Management fees are generally
between 0% to 2% per annum based on capital commitments or contributions, pursuant to the
applicable Governing Documents. Certain single Limited Partner SPVs will pay management fees
in a single upfront payment covering advisory services to that SPV for a period of 5 years.

In certain circumstances, advisory fees are non-refundable, even if the advisory relationship
terminates prior to the end of the applicable fee period. Prepaid advisory fees represent
compensation for advisory services to be provided over future periods and are earned over time in
accordance with the terms of the governing agreement.

Because advisory fees may be paid in advance and may be non-refundable, clients may pay more
in advisory fees than they would if the advisory relationship were terminated earlier. Clients are
encouraged to review the applicable advisory agreement for a complete description of advisory fees,
payment terms, and termination provisions.

Item 7. Types of Clients
The Firm provides investment advice only to the Funds or its SPVs, which are its only Clients.
Interests of the Funds are offered privately to a limited number of sophisticated investors, including
institutional investors and individuals who qualify to invest in the Funds because they have a
sufficiently high income or net worth. The Firm offers interests only through non-public
transactions in order to maintain their exclusion from “investment company” status under the
Investment Company Act of 1940, as amended (the “Investment Company Act”). Investors are
encouraged to thoroughly review the applicable Governing Documents, which set forth all of the
terms in detail.

The minimum commitment amount for investment in one of the Funds is generally $200,000
dollars, but the general partner reserves the right to negotiate a lower minimum investment.