Bancroft Private Equity GmbH has been granted a licence by means of an administrative decision on 06.03.2017 to operate as an Alternative Investment Fund Manager (AIFM) pursuant to Article 6 para. 1 in conjunction with Article 4 para. 1 and para. 2 of the Alternative Investment Fund Managers Act (AIFMG; Alternative Investmentfonds Manager-Gesetz), and is authorised to manage alternative investment funds (AIFs) with the following strategy pursuant to Point 9 and Point 10 item b of Annex 4 of Regulation (EU) No 231/2013: Private equity strategy: multi-strategy private equity fund.