Harris & Harris Group Since 1983, Harris & Harris Group has had a strong reputation for investing in proprietary technology companies. Their primary focus is on interdisciplinary life sciences companies, where innovative biology intersects with innovation in areas such as electronics, chemistry, physics, materials, information, technology, engineering and mathematics. Harris & Harris Group differentiates itself from its competitors because its investments are not divided into specific funds. They currently invest in 25 small portfolio companies with total investments of $172 million. Distinctive approach to biotechnology We see profitable potential in Harris & Harris Group due to their unique focus on founding, incubating and building transformative companies from disruptive science. Their focus on biology, which has become their approach to creating high-value life companies, sets them apart from the competition. They believe in interdisciplinary innovation that will solve current and future life challenges. Tulane Endowment is interested in investing in innovations that will fundamentally change the future and improve people's lives. We are also interested in Harris & Harris Group and the biotechnology sector due to its youth and rapid growth. With expected growth of 10.8% over the next 10 years, we believe demand will increase. Tulane Endowment seeks investments in industry segments with a rapid rate of technological change like that of Harris & Harris. In recent years we have seen increased demand for therapeutic products and genetically modified crops, so we believe this sector will remain in the growth phase of its economic life cycle for the duration of our investment and... paper halves. .....and other brands. Tulane Endowment sees Repairogen as a great investment opportunity and seeks to support such startups, as there is a lot of room for development and many growth opportunities both domestically and internationally. Valuation Harris & Harris Group valued Repairogen at $1,368,055 using comparables. This is a high valuation for a company that is in the research and development phase. However, this company offers a very unique product that attracts customers in both the health and cosmetics industries. Repairogen's exit strategy is a merger or acquisition, which is a typical exit strategy for the cosmetics industry and a safer exit strategy than an IPO. Tulane Endowment is very excited to provide funding to this company, because we believe Repairogen has many opportunities to expand globally and gain a competitive advantage once it reaches the cosmetics market.