The Adirondack Venture Fund Limited Partnership was organized for the purpose of generating competitive equity returns, while simultaneously promoting responsible economic growth in the Adirondack North Country and Upstate regions of New York State. The primary regions targeted by the Adirondack Venture Fund, encompass “The Adirondack North Country”, New York’s “Tech Valley” and “The Quebec-New York Corridor” (collectively, the “Region”). This Region is currently experiencing an unprecedented rise in government and corporate business investment, research and development expenditures and economic expansion. Driving this surge in business development activity is the recognition, by large internationally prominent technology-based companies, that the Region offers an exceptional foundation for economic growth. The Region enjoys an above- average skilled workforce, a high standard of living, a relatively low cost of living compared to other prospering regions, outstanding educational and research centers, an exceptional transportation infrastructure, close proximity to major market centers, and outstanding government support programs. The following map identifies the various geographic areas encompassed in, and the business development initiatives benefiting, the Region. • New York’s Tech Valley is the economic development area encompassing 18 counties beginning with Clinton County to the North, at the Quebec border, and stretching to Orange County, just north of New York City. This area includes more than 18,000 businesses that employ over 450,000 individuals. The Tech Valley region includes more than 1,000 high-tech companies, and is home to corporate giants such as GE and IBM. The 2003 agreement by International SEMATECH to locate its $400M research and development program to Tech Valley was an important milestone for this area. • The Quebec-New York Corridor is a cross-border gateway organization founded jointly in 2001by the Federation of Quebec Chambers of Commerce and the Plattsburgh-North Country Chamber of Commerce. Currently more than 1000 organizations, companies and agencies are linked within the corridor. Joint economic development programs are under way in business sectors including transportation, information technology, biotechnology, energy, telecommunications, manufacturing, venture capital and tourism. • The North Country Region of New York State is that part of Upstate New York bordered by Vermont and Massachusetts to the East, Quebec, Canada to the North, Lake Ontario to the West and The I-90 NY State throughway to the South. • The Adirondack Park Region is positioned at the gateway connecting Upstate New York with Quebec, Canada. The Adirondack Region includes the 6 million-acre Adirondack Park, surrounding countryside and the western shore of Lake Champlain. • The Champlain-Hudson Trade Corridor is one of five officially recognized Cross-Border Economic Regions evolving along the north-south transportation systems which link the U.S. and Canada. The core zone from Albany to Montreal is growing rapidly with new commerce and economic activity, where north-south trade is almost doubling each year. The Adirondack Venture Fund is particularly interested in businesses likely to be a good "fit" in the geographic area and that will directly benefit from the unprecedented surge in Regional corporate and government investment and the economic development activity throughout the Region. These include biotechnology, advanced materials, renewable energy, telecommunications, nanotechnology, manufacturing, sustainable tourism, and natural resources. However, AVF will consider any company with a strong business model that meets AVF's investment criteria. The Fund anticipates that these businesses typically will be located or already doing business in the Region. However, the Fund also seeks to attract new businesses to the Region. The Fund does review investment opportunities and maintains the flexibility to invest outside of the Region

Adirondack Venture Fund
2038 Saranac Ave
Lake Placid, NY 12946
518.523.7092