Goldman Sachs Investment Partners

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

<div>
 
 Doctor on Demand is an online provider platform that allows users to consult doctors through video, text messages, or phone calls. The company&rsquo;s services include urgent care (24/7 access to doctors), behavioral health, preventive health, and chronic care. It does not currently offer subscription plans and charges on a per-visit basis. Patients can either set up an appointment with a doctor or opt for a doctor on demand, which will direct them to the next available practitioner. Doctor on Demand charges different fees based on the medical specialties. On-demand sessions can also be extended for an additional fee. 
 
 
 In addition to the business-to-consumer (B2C) model, Doctor on Demand also operates a business-to-business (B2B) model, providing a suite of virtual primary care services for the covered beneficiaries of employers and health plans. It was the first telemedicine company to integrate lab testing into its services in 2017. In May 2020, the company expanded telehealth services to the 33 million senior beneficiaries of the Medicare Part B program, becoming the first telehealth operator to do so. Doctor on Demand raised USD 75 million in July 2020 from General Atlantic, bringing the total funding to USD 235.7 million. The company was valued at USD 875 million after the round. The funds are being used to fund the growth and expansion of its virtual care model amidst the increased demand from the Covid-19 pandemic.
 
 
 In March 2021, Doctor on Demand and Grand Rounds entered into a merger agreement to form a new virtual primary care company. The terms of the merger were not disclosed but the transaction is expected to take place within the first half of 2021 subject to regulatory approval.&nbsp;The companies has also signed a definitive agreement to acquire Included Health, a care navigation platform for the LGBTQ+ community in May 2021. This marks the first LGBTQ-specific healthcare platform to be acquired by a leading telehealth provider and would enable Doctor on Demand to enhance its member-centric digital offering by supporting diverse and underserved communities as well as capitalizing on the growing demand for LGBTQ specific offerings.&nbsp;
 
 
 
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Property owners and real estate companies are able to handle larger portfolios while offering faster and cheaper services.

Residential PropTech

<div>
 
 Compass operates a real estate technology platform for real estate agents that offers a variety of services such as virtual workspaces for agents and buyers to collaborate, dashboards for insights on lead generation and marketing strategies, and AI-driven CRM tools. The company operates under a commission-based business model based on the number of houses sold.
 
 
 Compass acquired transaction management company Glide in April 2021. Glide helps real estate agents and their clients complete official seller disclosure forms electronically (these forms are used to disclose information about the conditions of the property), such as Transfer Disclosure Statement (TDS), Seller Property Questionnaire (SPQ), and Agent Visual Inspection Disclosure (AVID) in the state of California.&nbsp; The company also offers transaction management tools and eSignatures. Glide is currently used in more than half of residential real estate transactions in California. The platform is also offered to more than 60 associations of REALTOR and MLS organizations. Compass also 
 <a href="https://sp-edge.com/updates/10135?industryIds=37">
 announced in May 2022 to acquire
 </a>
 Consumer's Title Company of California (Consumer&rsquo;s Title), a title and escrow services provider for an undisclosed sum. Through this acquisition, Compass will leverage the license of Consumer&rsquo;s Title to operate in 58 counties within California to broaden its settlement service offerings and increase its operational presence within the region.
 
 
 As of February 2024, the company operated in 72 markets.&nbsp;
 
 
 For FY2023, Compass had reported a 19% YoY decline in total revenue to USD 4.9 billion, from USD 6.0 billion recorded in FY2022. The company also reported a 47% YoY reduction in net loss to USD 321.3 million for FY2023, from USD 601.5 million recorded in FY2022.
 
 
 Key customers and partnerships
 
 
 As of December 2023, the company had over 29,388 agents.&nbsp;
 
 
 In January 2024, Compass 
 <a href="https://sp-edge.com/updates/25524">
 partnered with Paramount Realty
 </a>
 to offer auction services to its agents and their clients on a national scale.
 
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Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

Plaid offers white-label and full-stack FinTech infrastructure for financial institutions, wealth managers, and other enterprises to embed banking, payment, financial advice, and lending solutions to their FinTechs. Its core product is a screen scraper that accesses user bank account data (after login credentials are provided), scrapes it, and enables data querying through APIs. Accordingly, its APIs support onboarding, information, money movement, payroll, and fraud prevention, among others.The platform initially focused on white-label account linking services, but eventually transitioned to a consumer brand, with its logo residing inside FinTech apps in the bank linking experience. Plaid has a three-sided network, comprising ~500 million customers (accounts), 11,000 banks, and 2,600 FinTechs (as of May 2022).The company continues to expand its FinTech infrastructure product range. It <a href="https://sp-edge.com/updates/11674?industryIds=53">added several crypto exchanges </a>, including Binance.US, Gemini, Robinhood, and SoFi, to its network in July 2022, to allow developers to access and incorporate cryptocurrency asset data. This followed <a href="https://sp-edge.com/updates/6166">the “pay-by-bank” </a>solution launching in October 2021, to enable the US and European merchants to accept payments directly from user bank accounts. In February/March 2021, the company also launched income verification product “Simply Income,” along with “Deposit Switch,” which enables users to switch direct deposits to a different bank account.Plaid also launched a biometric identity verification tool in May 2022, to prevent fraud by leveraging KYC and AML capabilities. This came just four months after Plaid acquired the <a href="https://sp-edge.com/updates/7948">identity verification and compliance platform Cognito </a>for USD 250 million. The solution can reportedly verify identities in less than 30 seconds, and can also analyze email, phone, IP addresses, and device IDs.As of July 2022, its infrastructure connected enterprises to over 12,000 financial institutions (FIs) across the US, Canada, the UK, and Europe. Although Plaid connects user bank accounts with the FinTech apps, it is not directly involved in transferring money from the bank accounts. Instead, it has signed up more than 50 partners across the US and Europe (such as Square, Stripe, Silicon Valley Bank, and Galileo) to do so.Plaid charges its users in three main methods: 1) a per-request fee for transactions through Plaid, 2) a one-time fee when apps utilize Plaid to access customer bank accounts, and 3) a monthly subscription fee.Key customers and partnershipsThe company noted that its customer base grew by around 60% year-over-year (YoY) in 2020 and reached over 5,500 clients as of January 2022, including PayPal, Robinhood, Google, and Microsoft.Plaid announced that it aims to commit 75% of its traffic to APIs by the end of 2021, and in line with that has entered a series of open banking partnerships with leading FIs including Capital One (in June 2021) and <a href="https://sp-edge.com/updates/3557">US Bank </a>(in May 2021). Through these partnerships, the FIs customers can connect their accounts to third-party apps on Plaid’s network.Funding and financialsPlaid forecast its revenue to total USD 225 million in 2021. The company <a href="https://sp-edge.com/updates/4785">agreed to pay USD 58 million </a>in a class action lawsuit settlement in August 2021, over claims the company used banking login credentials to share data to third-party firms without prior consent.In January 2020, Visa attempted to acquire Plaid for USD 5.3 billion; however, the deal was called off in January 2021, due to a potentially long and complex litigation process. In April 2021, Plaid raised USD 425 million Series D funding at a USD 13.5 billion valuation which was supported by pandemic-led user growth (up 44% YoY over March-May 2020).The company also received an <a href="https://sp-edge.com/updates/4943">undisclosed amount of funds </a>from JP Morgan Private Capital Growth Equity Partners and Amex Ventures, in August 2021, as an extension to its Series D round. Plaid intends to invest the funds in expanding globally, developing new products and tools, increasing its workforce by 50% in 2021, and scaling its platform to meet increased demand from FinTechs.

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Rothy’s is a footwear company that manufactures recyclable, machine-washable shoes made from single-use plastic bottles. It also makes sustainably produced clothing and related accessories such as handbags. As of March 2024, Rothy's sells its products through an online platform and through its more than 20 retail stores in 19 countries. The company entered the wholesale market in 2023 and plans to open an additional 10 stores in 2024.As of March 2024, the company had recycled over 166 million single-use plastic bottles and repurposed more than 603,000 pounds of ocean-bound marine plastic for its bags and accessories.&nbsp;As of March 2024, the company operates a 300,000-sq-ft manufacturing facility in China.Key customers and partnershipsRothy’s entered into a partnership with water company Evian (September 2021) to deploy its plastic recycling technology to recycle the latter's water bottles and convert them into a tennis-focused capsule collection of bags and tennis wear. In August 2022, the two companies announced the launch of a limited-edition, <a href="https://www.prnewswire.com/news-releases/rothys-and-evian-water-debut-limited-edition-tennis-inspired-capsule-collection-made-with-recycled-evian-water-bottles-301610427.html">tennis-inspired capsule collection</a> made with repurposed evian water bottles.Funding and financials&nbsp;<a href="https://sp-edge.com/updates/7457">In December 2021</a>, Rothy’s secured a strategic investment of USD 475 million from&nbsp; Brazilian lifestyle company Alpargatas (which owns the flip-flop brand Havaianas), which gave the latter 49.9% ownership of Rothy’s. Through the funds raised, Rothy’s planned to expand into global markets, increasing retail presence and attracting more customers.

Eliminating financial intermediaries by directly connecting individuals and businesses

P2P Financial Platforms

Cadre is a technology-driven commercial real estate investment platform founded in 2014 by Ryan Williams. The company aims to provide accredited investors with access to institutional-quality real estate deals that were traditionally only available to large financial institutions. Cadre uses data science, machine learning, and proprietary tools to identify high-potential markets and properties, streamline the acquisition process, and optimize asset management. The platform focuses on income-producing properties in major US markets, targeting a balanced portfolio allocation with approximately 50% in multi-family properties and the remainder in office, industrial, and hotel assets.
Cadre's investment strategy emphasizes value-driven opportunities in the top 15 growth markets across the US, primarily in Sunbelt cities and select major metropolitan areas. The company offers two main investment options: individual deal-by-deal investments and the Cadre Direct Access Fund, which provides diversified exposure to multiple properties. As of 2022, Cadre had closed more than USD 5 billion in real estate transactions across 25 US markets and returned over USD 340 million to investors. The platform reported an average net internal rate of return (IRR) of 27.7% on its realized investments.
One of Cadre's key differentiators is its secondary market, which allows investors to potentially sell their positions during quarterly windows after an initial six-month holding period. This feature aims to provide more liquidity compared to traditional real estate investments, which typically have longer lock-up periods. Cadre also emphasizes transparency, providing detailed information about each investment opportunity and regular updates on portfolio performance.
Key customers and partnerships
Cadre primarily caters to accredited investors, including high-net-worth individuals and institutions. The platform requires a minimum investment of USD 25,000 for its Direct Access Fund and USD 50,000 for individual deal-by-deal investments. As of 2022, Cadre served approximately 50,000 members across various distribution channels.
In May 2022, Cadre announced a partnership with the BlackRock Impact Opportunities Fund to acquire the Harvest at Marmalade apartments in Salt Lake City, Utah. This collaboration aligns with both companies' focus on promoting diversity and inclusion in the real estate industry. Cadre also partnered with Ethos Real Estate, a minority-led firm, for this acquisition, demonstrating its commitment to working with diverse operators and investors.
Cadre has established relationships with approximately 400 local operating partners across the US, leveraging their expertise in specific markets and property types. The company also collaborates with various financial institutions and real estate professionals to source and manage investment opportunities.
In November 2023, it was announced that Yieldstreet, another alternative investment platform, had agreed to acquire Cadre. This acquisition is expected to create a combined entity with a collective investment value of over USD 9.7 billion, serving more than 500,000 members across various distribution channels. The merger aims to strengthen Cadre's position in the market and potentially expand its offerings to a broader investor base.

Travel Tech

Omio is a Berlin-based travel platform that allows users to search, compare and book transportation options across Europe, the US, and Canada. Founded in 2013 as GoEuro, the company rebranded to Omio in 2019 to reflect its expanded global presence. Omio's platform aggregates and displays train, bus, flight, ferry and car rental options from over 1,000 transportation providers across 37 countries. Users can compare routes, prices, and travel times across different modes of transport in a single search.The company's technology integrates directly with transportation providers to offer real-time pricing and availability. Omio generates revenue through commissions on bookings as well as service fees. As of 2022, Omio's platform facilitated enough ticket sales to fill 30 trains and 300 buses daily. The company has seen significant growth, with ticket bookings in 2022 reaching 140% above pre-pandemic levels. Omio has also observed a shift toward mobile bookings, with 80% of tickets now purchased via its mobile app.Key customers and partnershipsOmio has partnerships with hundreds of transportation companies across Europe and North America, including major providers like Renfe, Deutsche Bahn, SNCF, Flixbus, and Amtrak. In 2022, Omio partnered with Uber to integrate its inventory into the Uber app in the UK, allowing Uber users to book train and coach tickets. In 2023, Omio collaborated with Ecosia to launch a "tree-planting rail travel search tool" that promotes train travel as a more sustainable transport option. Omio has also integrated its booking capabilities into platforms like Kayak and Huawei devices.&nbsp;In August 2024, Omio announced a partnership with Ryanair to sell the airline's tickets as an approved online travel agent.

Digitizing the commercial real estate value chain

Commercial PropTech

Cadre is a commercial real estate investing platform that provides accredited investors and institutions access to carefully curated investment opportunities in properties such as multi-family apartment buildings, office spaces, and hotels. The company leverages a data-driven approach, combining institutional experience with proprietary technology to identify and vet investment prospects offering the potential for outsized returns.Cadre's investment process involves rigorous analysis based on in-house data models and a nationwide network spanning 400 local operating partners. This allows the company to pinpoint opportunities across markets it identifies as high-growth, such as the "Cadre 15" markets. Investments offered on the platform typically have hold times of 5-8 years, which is typical for commercial real estate investments.When investing through Cadre, investors receive a membership interest in a special purpose entity, usually an LLC created specifically for the investment. This LLC holds the equity, preferred equity, or debt interest in the property. Investors receive regular cashflow from sources like rental income and a share of the appreciation upon sale or refinancing of the property.Past offerings on Cadre have projected returns in the range of 11-27%, with most showing an internal rate of return (IRR) around 13%. The platform charges fees that typically range from 2-5%, including upfront commitment fees and annual management fees.In November 2023, Cadre was acquired by alternative investment platform Yieldstreet. As part of the acquisition, Cadre's CEO Ryan Williams assumed the role of Yieldstreet's global head of Institutional Partnerships &amp; Clients, leading a new division focused on broadening institutional access.

Built Technologies is an enterprise technology company that provides cloud-based construction lending software. Its collaboration software brings the draw management process online and helps reduce construction loan risk, increases loan profitability, transforms the borrower experience, and simplifies compliance.  The company was founded in 2014 and is headquartered in Nashville, Tennessee.

STORES support the development of an economy driven by commitment, passion, and fun. They support the digitalization of business, such as opening online shops, POS cash registers, cashless payments, and online reservation systems.

Ualá is a technology company providing a comprehensive financial ecosystem that allows users to manage payments, request loans, and invest in various financial products. With services including a prepaid Mastercard, savings accounts, and investment options, Ualá aims to enhance financial inclusion.

Rothy's transforms sustainable materials into beautiful products for life on the go. Redefining expectations of comfort, style, and sustainability, Rothy’s began by turning single-use plastic water bottles into artfully-designed shoes and recently furthered its commitment to material innovation with the launch of The Bag Collection using recycled marine plastics. Considering every step of production, Rothy’s owns and operates its state-of-the-art production workshop and uses a proprietary 3D knitting process to significantly reduce material waste. Since launching in 2016, Rothy’s has repurposed over 60 million water bottles and today is approaching two million customers worldwide. Rothy's has raised a total of $44M in funding over 3 rounds, including secondary investments. In total, only $5M out of outside capital has gone on Rothy’s balance sheet. Their latest funding was raised on Dec 18, 2018, a secondary investment from Goldman Sachs.

Shift is an online marketplace for buying and selling used cars.  Acting as a personal concierge service, the company details cars, lists them on multiple lists, handles test drives, and finds intent buyers. Charging a Shift Service Fee for registration, car prep services, and sales tax, Shift provides customers with a 150-point concierge report that includes specs, high-resolution photos, vehicle history, and results on their cars before purchase.

Care/of is a healthcare technology company dedicated to simplifying consumer health, starting with a fully personalized vitamin pack. Their first product is a vitamin experience delivered monthly to consumers, personalized to the individual customer's unique body, lifestyle, values, and health goals. Care/of is a New York City based technology company founded on the basis of honesty, quality, and personalization.

IHS Markit is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings. Its energy offerings are focused on upstream, midstream, downstream, and power/gas/coal/renewables (PGCR) services. HS Markit is a dynamic team that includes more than 5,000 analysts, data scientists, financial experts and industry specialists. Our global information expertise spans numerous industries, including leading positions in finance, energy and transportation.

Zola is a wedding company that reinvents the wedding planning and registry experience to make the happiest moment in the couples' lives even happier. From engagement to wedding and decorating a first home, Zola is there, combining compassionate customer service with modern tools and technology. All in the service of love.

Doctor On Demand is a video telemedicine company, offering on-demand and scheduled visits with US-licensed healthcare providers via any smartphone, tablet, or computer. It focuses on providing solutions for employers, health plans, retail clinics, and health systems. With solutions for employers, health plans, retail clinics, and health systems, Doctor On Demand is redefining the industry with top-rated customer experience, highest clinical standards, and implementation and customer success directors, as well as 24/7 customer support. The company was founded in 2013 and is headquartered in San Francisco, California.

Meican.com (美餐) is a platform and website focused on providing mobile ordering of foods, detailed take-out menus as well as personal and enterprise meal ordering services. It enables users choose meals by themselves from many cooperative restaurants and enjoy personalized delicacy. Meican.com also enables enterprises become efficient in terms of delivering orders as well as solving the problems of food classification and settlement so that they can focus on their core business. Meican.com has vast experience of product research and development and offline operation due to its professional team.  Established in Jan. 2011, Meican.com covers four major cities like Beijing, Shanghai, Guangzhou and Shenzhen, and it owns more than 30,000 cooperative restaurants.

Fabhotels provides its clients with a budget hotel chain in India. It partners with smaller hotels for providing standardized services to budget travelers.

MoneyHero Group is a fintech company that focuses on personal finance aggregation and comparison, aiming to empower individuals for a better financial future. The company's key pillars include Personal Finance Platforms and B2B Business, fostering partnerships with Creatory Channel Partners and Content Creators under eKos_connect. MoneyHero Group shapes the future of finance through technology and connectivity.

Cadre is an online marketplace that connects investors and operators of real estate.  It enables investments and transactions, provides a sophisticated technology product for managing processes, and powers predictive analytics for its investors. Investors are able to sell their interest on the secondary marketplace thereby introducing liquidity into an antiquated industry. They are able to gain transparency, efficiency, and liquidity through the use of its proprietary technology, and are able to make better, more data-driven decisions.  Founded by Ryan Williams, Cadre was launched in 2014.

Hyphen Group is a network of finance companies. They empower and connect people to a better financial future through innovative tools, personalized digital experiences, and expert insights, and accelerate the digitization of the financial industry.

ResearchGate is the professional network for researchers. Over 20 million researchers use researchgate.net to share and discover research, build their networks, and advance their careers. Based in Berlin, ResearchGate was founded in 2008. Its mission is to connect the world of science and make research open to all.

Ring is an outdoor home security company that provides homeowners a line of preventative outdoor security doorbells and cameras. It is on a mission to reduce crime in neighborhoods and empower consumers by creating a Ring of Security around homes and communities with its suite of smart home security products: Ring Video Doorbell, Ring Video Doorbell Pro, Ring Stick Up Cam, and the new Ring Floodlight Cam. With these security devices, Ring has created the neighborhood watch for the digital age and continues to prevent burglaries and keep homes around the world safe. The company was established in 2012 and is based in Santa Monica, California.

Networked Insights provides analytics that enables companies to make data-driven marketing decisions and improve media efficiency. The result is optimal marketing spend. Customers like MTV, Samsung, Kraft, RIM, MillerCoors, Group M, MediaBrands, Starcom, and Mediavest use Networked Insights to help them improve media efficiency, reveal content opportunities and inform marketing decisions.  It was founded in 2006 and headquartered in Chicago, Illinois.

Hubba is a software company that uses a combination of machine learning and personal curation to match brands with buyers. It also serves as a commerce network designed to empower independent companies to connect on business opportunities to grow their business. Hubba allows buyers to discover new products to meet their customer demands. Through this, brands get increased distribution for their products. Currently, Hubba powers over 75,000 small-medium businesses. It was founded in January 2011 and is based in Toronto, ON.

Omio offers a multi-mode search tool that compares and combines rail, air, bus, and car for destinations. The tool is designed to suggest nearby airports and train routes connect up where they would like to go and also estimating the entire length of travel time. After pulling in diverse data sources to offer various route options, Omio also makes it easier to visualize which routes are better and compare the cost of different travel options, displaying a comparative chart based on what is the cheapest or fastest. The platform does not include urban public transport options in any market such as buses but rather is designed for helping travelers make long-distance travel plans. The company was founded in 2012 and headquartered in Berlin, Germany.

Plaid is the technology platform providing the tools and access needed for the development of a fully modern, and digitally-enabled financial system.  Plaid makes it easier and safer for developers from the smallest startups to the largest financial institutions to build innovative financial services and applications. Plaid offers beautiful consumer experiences, developer-friendly infrastructure, and intelligence tools that give everyone the ability to build the future of financial services. Plaid was launched by William Hockey and Zach Perret in 2012 and is headquartered in San Francisco, California.

SMS Assist provides business services to deliver unprecedented transparency and control within the facilities maintenance industry. Most large multi-location chains rely heavily on local subcontractors to provide their facility maintenance services, like electrical, plumbing, carpentry, and mechanical repairs, floor and window cleaning, landscaping, snow removal, parking lot maintenance, and dozens of other services. Management responsibility for these services is often delegated to the operating units, and as a result, significant opportunities to leverage technology, economies of scale, and subject matter expertise are lost. As a national integrator with over 40,000 unique customer sites under contract, SMS Assist helps customers reduce spend on facilities services by an average of 20 percent while maintaining or improving quality and providing radical transparency.

Momo is a FinTech startup that offers a mobile, electronic wallet, and payment application for iOS and Android devices. Its products help customers in Vietnam make nationwide cash transfers, pay more than 100 types of bills, recharge mobile phone accounts, settle personal loans, and purchase services such as software license and online game cards, airline and movie tickets, etc. The company’s payment system partners with 24 domestic banks and foreign payment networks, including JCB, MasterCard, and Visa.

thredUP is transforming resale with the mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest resale platforms for women's and kids' apparel, shoes and accessories. thredUP is extending the life cycle of clothing, changing the way consumers shop and ushering in a more sustainable future for the fashion industry.

Spotify is a commercial music streaming service that provides restricted digital content from a range of record labels and artists. Users can browse through the interface by artist, album, genre, playlist, record label, and direct searches. It also enables individuals to create, share, and edit playlists with other users. If users want recommendations, they can integrate their system with Last.fm, an application that provides music recommendations based on listening history. The radio feature installed in Spotify creates random playlists for its users that are related to preferred artists. Spotify is available for mobile device platforms such as Android, Blackberry, Boxee, iOS, Linux, MeeGo, Squeezebox, Windows mobile, and more.

Pinterest is a visual bookmarking tool for saving and discovering creative ideas. It helps its users to discover and do what they love--including recipes, arts and crafts, clothing, and home projects. Its site and app allow its users to save and post images on different boards, categorized and curated to each user's individual tastes. Users can also follow boards created by other users, and re-post (or ''pin'') items to their own boards. The company was launched in 2009. To date, the site has more than 150 million monthly users and has more than 1,000 employees.

Foodpanda is a global online food delivery marketplace that enables users to place orders at local restaurants via its website or mobile application. Customers enter their postcodes on the site, browse for food from a list of restaurants, and place the order; foodpanda processes the order details, sends out an SMS to customers to confirm orders and their estimated delivery time, and passes the details to partner restaurants; and the restaurants deliver the food to customers. It is called foodpanda in Asia and Europe and hellofood in Africa, Latin America, and the Middle East. Foodpanda has partnered with more than 60, 000 restaurants globally, including Pizza Hut, Subway, KFC, McDonalds, and Jollibee. Foodpanda was launched by Ralf Wenzel and Benjamin Bauer in 2012 and is operated from Berlin, Germany with presence in over 40 countries and 500 cities across 5 continents.

Uber develops and operates a ridesharing mobile application that connects consumers with partner drivers. The application allows users to submit trip requests, which are then routed to available drivers. It facilitates the arrangement and scheduling of transportation and logistics services through third-party providers. Uber operates in various cities worldwide, providing applications for multiple platforms, including Windows Phone, iPhone, Blackberry, and Android.

NextNav operates a platform intended to offer indoor location services and applications. Its platform offers location-enabling technology with carrier-grade reliability for use in buildings and urban areas where satellite-based geographical positioning service signals cannot reach, enabling clients to avail urban and indoor positioning for public safety and commercial applications.

Boqii Holding Limited (NYSE: BQ) is China's largest pet-focused platform in terms of revenue in 2019 and number of customers as of December 31, 2019, and maintains the largest pet-focused online community in China's pet market in terms of the number of registered users as of December 31, 2019 (according to Frost & Sullivan). At Boqii, we love pets. We are the leading online source for pet products and supplies in China with our broad selection of high-quality products including global leading brands, local emerging brands, and our own private label, Yoken and Mocare, offered at competitive prices. Our online sales platforms, including Boqii Mall, which can be accessed through our mobile app, website and Weixin/WeChat mini programs, as well as our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Our Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets.

Baozun Commerce is a provider of brand management solutions in China. It is an e-commerce service partner founded in 2007. It focuses to help brands and retailers to become successful in China. Baozun provides end-to-end services, including web site design, development and hosting, IT infrastructure, customer service, warehousing and logistics services as well as digital marketing solutions.  Baozun Commerce connects brands and consumers in China using their local know-how and robust e-commerce supply chain technology and services. It strives to protect and enhance brands’ images online while enabling increased engagement with Chinese consumers to drive sales and profit.

Compass is a real estate technology company that provides an online platform for buying, renting, and selling real estate assets. Its end-to-end platform supports the entire buying and selling workflow by pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless. Compass operates in 22+ regions across the United States including New York, Los Angeles, and Orange County, Chicago, San Francisco, Boston, Washington D.C., South Florida, The Hamptons, Santa Barbara and Montecito, San Diego, Seattle and Eastside, Philadelphia, Connecticut, Westchester, Aspen, Boulder, Denver, Atlanta, Austin, and Central Texas, Dallas-Fort Worth, Houston, Nashville, and Lake Tahoe. The firm was founded in 2012 by Ugo Di Girolamo, Ori Allon, and Robert Reffkin in New York, New York.

Fluid Inc., the digital shopping innovator, designs and builds digital shopping experiences that brings brands to life, making the shopping experience fun, vivid, intuitive and social. In addition to design and development services, Fluid's offering includes the Fluid Retail interactive merchandising suite which enables engaging customer experiences that drive conversion, customer satisfaction, and brand loyalty.  Fluid's customers range from mass-market retailers to luxury goods manufacturers, and include top brands such as: Sears, Benefit Cosmetics, Elie Tahari, Diapers.com, Nine West, Reebok, The North Face, and Vans. For more information, visit [www.fluid.com](http://www.fluid.com/), and follow us on Twitter [@Fluid](https://twitter.com/#!/fluid) or Facebook [FluidInc](http://www.facebook.com/FluidInc).

ANGLEE is a brand and online shop of cosmetic products for women.

Mimeo is the innovator of online managed content distribution and printing. Their global footprint and cloud-based platform provide customers with the way to create, manage, and distribute content they rely on to do business.

Novexel is a pharmaceutical company that researches and develops novel class antiinfectives for the treatment of severe and difficult to treat bacterial and fungal infections. The Company has an extensive portfolio of antibacterial and anti-fungal compounds, R&D programs, and intellectual property. Novexel’s focus is on novel antimicrobial compounds with activity against multi-resistantorganisms. Novexel’s expertise in Biology, Medicinal Chemistry, Pharmacology, Microbiology and Clinical Development positions the Company at the forefront of the discovery and development of novel therapies for infectious disease.

Goldman Sachs Investment Partners is a global team of professionals from a wide range of backgrounds with one common goal—driving technology-based disruption. They have invested more than $6 billion in over 100 late-stage venture capital and growth equity transactions since 2003. They are dedicated to partnering with entrepreneurs around the world to build revolutionary businesses.

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