<table><tr><th>From:</th><th>Joichi Ito</th></tr><tr><td>Sent:</td><td>Sunday, January 4, 2015 7:59 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Subject:</td><td>My new fund</td></tr></table>

Hey Jeffrey,

My last fund is doing pretty well - just started returning earnings to =nvestors with a number of good companies left in the portfolio. =hey've asked me to make another fund. I decided that the best =ay to do this and still play with you on larger deals was to limit the =ize of the investment from the fund to 5100K. That will let me do =ittle things quickly. Let me know if you'd be =nterested/willing to also invest in this fund.

Here's the email I sent out to my investors.

- Joi

Hi everyone. You're getting this email because you were either in =eoteny Labs or you've talked to me recently about investing with me.

I've decided to explore forming a small fund of mostly friends and =amily to invest in deal flow I see from time to time. Most of the deal =low will consist of small investments following a lead professional =nvestor in companies with which I am personally involved as an advisor =r board member. In some cases, I will be receiving additional =ompensation and stock options for serving as an advisor or board =ember. While these will not be included in the fund, any investment =pportunity I receive will be directed to the fund.

The idea for the fund is a small investment diversified fund. The fund =ill invest up to 5100K in every deal that I'm able to invest in. My =revious fund had a 30% carry, but I'm reducing it to 20% to balance the =act that in some cases I may be receiving compensation in addition to =he opportunity to invest. I will be investing 5100K of my own money in =he fund.

Please let me know if you're interested and I will send more details.

Thanks.

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