Founders Circle Capital LLC

Item 5: Fees and Compensation

A. Describe how you are compensated for your advisory services. Provide your fee schedule.
   Disclose whether the fees are negotiable.

The Firm's management fees generally range from between 1.0% to 2.5% per year and are based
on the committed capital of a Client. Subject to the terms of a Client's governing documents, the
management fee may be subsequently calculated using a different metric, such as the aggregate
cost basis of portfolio securities held by the Client, after, for example, a fixed period of time or
the occurrence of a triggering event.

Generally, incentive fees range from 10% to 20% of net profits and are payable according to
each Client's governing documents. The management fees and incentive fees are typically
negotiated with prospective investors in the initial formation of the Client and are described in
greater detail in each Client's applicable governing documents.

B. Describe whether you deduct fees from clients' assets or bill clients for fees incurred. If
   clients may select either method, disclose this fact. Explain how often you bill clients or
   deduct your fees.

We deduct management fees from Clients' assets. Generally, management fees are payable on a
quarterly basis, in advance, in accordance with the specific terms of the applicable governing
documents, as outlined in A above.

C. Describe any other types of fees or expenses clients may pay in connection with your
   advisory services, such as custodian fees or mutual fund expenses. Disclose that clients will
   incur brokerage and other transaction costs, and direct clients to the section(s) of your
   brochure that discuss brokerage.

Clients may pay other types of fees in addition to our advisory service fees, including but not
limited to expenses associated with Client operations. The additional expenses may include
organization costs, ongoing legal, accounting, audit, tax compliance, banking, insurance,
custodial, brokerage, consulting and other professional fees; the cost of governmental regulation,
including preparations of reports and other filings; and the costs of Partnership, General Partner
and Management Company compliance with applicable securities laws and registration or
licensing laws arising from the management of, or provision of advice to, the Clients, as
expressly provided for in the Client's applicable governing documents.

Please see Item 12 (Brokerage Practices) for additional information on potential expenses.

D. If your clients either may or must pay your fees in advance, disclose this fact. Explain how a
   Client may obtain a refund of a pre-paid fee if the advisory contract is terminated before the
   end of the billing period. Explain how you will determine the amount of the refund.

Generally, our Clients pay management fees in advance on the first day of the quarter. As the
Clients are closed-end funds they do not have a liquidation option and therefore no refund is
necessary. However, if the advisory contract is terminated during the life of a Client, the Firm
will refund to the Client's investors their pro rata portions of the pre-paid management fee
rounded to the end of the quarter in which the advisory contract is terminated.

E. If you or any of your supervised persons accepts compensation for the sale of securities or
   other investment products, including asset-based sales charges or service fees from the sale
   of mutual funds, disclose this fact and respond to Items 5.E.1, 5.E.2, 5.E.3 and 5.E.4
   Not Applicable.

Item 7: Types of Clients

Describe the types of clients to whom you generally provide investment advice, such as
individuals, trusts, investment companies, or pension plans. If you have any requirements for
opening or maintaining an account, such as a minimum account size, disclose the requirements.

As noted previously, the Firm provides investment services to private funds, as that term is
defined in Section 202(a)(29) of the Investment Advisers Act of 1940 (the "Advisers Act"). Each
of such private fund Clients are closed end funds. Investors in such Clients are typically high net
worth individuals, institutions, trusts, and profit sharing plans.

For investors in our Clients, the minimum requirement is generally $2 million for corporate or
institutional investors and $500,000 for individual investors. The general partner or manager of
each Client has the option to waive, in its sole discretion, this minimum requirement.