<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Monday, June 27, 2016 5:20 PM</td></tr><tr><td>To:</td><td>Andrew McCormack</td></tr><tr><td>Subject:</td><td>Re: direct investments?</td></tr></table>

thanks for thinking of me , have your friend contact=me directly if you like

On Mon, Jun 27, 2016 at 1:08 PM, Andrew McCormack > wrote:

## Jeffrey,

I hope all is well with you, I ha=e a quick question: do you make direct investments into companies? A=good friend of mine, Constantin Bisanz, started a company called ALOHA a f=w years ago. They make a range of healthy foods and products that th=y sell online and through big retail stores like Target. They've=done very well and are on track to hit a $60M run rate this year.

I'm a personal investor in ALOHA, but Retail and CPG b=ands are sectors we don't invest in through Valar (too much capital ne=ded for our modest fund), so I thought I'd see if you were interested =n taking a look. In any event, Constantin is a great guy and I think=you'd enjoy meeting him. He has high-quality investors already (=a href="https://www.crunchbase.com/organization/aloha/investors" target=3Ir_blank">https://www.crunchbase.com/organization/aloha/investors) an= is looking for a larger check ($20M- $30M) in this next fundraising from a=group that understands consumer brands but isn't private equity. =div>

Of course, if this isn't interesting - no worries.=C2 Either way, it would be great to catch up in person sometime. =ould be great to update you on Fund 2 and what we're looking forward t= finding for Fund 3.

All the best,

=/div>
Andrew

PS=- Here is Constantin talking about ALOHA and deck is attached: https://vimeo.com/15752=147

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