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CONFIDENTIAL
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MAKR Venture Fund
AI and Infrastructure Investment
$1 Billion Target
Confidential
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Notice to Readers

The information contained in this document is strictly confidential and intended only for the use of authorized recipients. Recipients of this document are in receipt hereof in compliance with applicable exemptions in accordance with the Financial Services & Markets Act 2000 (Financial Promotions) Order 2005. Recipients of this document are hereby notified that any photocopying, scanning, reproduction or distribution, in whole or in part, to others at any time is strictly prohibited without the prior written consent of MAKR Venture Fund Ltd. (“MAKR” or the “Fund”) and GFI Capital Partners Ltd. (“GFI”) or any of their respective affiliates or subsidiaries. The information contained in this document is proprietary to the Fund and GFI. If you are not an authorized recipient of this document, please contact GFI at International House, 12 Constance Street, London E16 2DQ.

No representation or warranty, express or implied, is or will be made in relation to, and no responsibility or liability is or will be accepted by the Fund, GFI or any of their respective officers, servants, agents, employees or advisors as to or in relation to the accuracy or completeness of this document or any further written or oral information made available to the recipient or its advisers. The Fund and GFI each expressly disclaim any and all liability which may be based on such information or errors therefrom. In particular, no representation or warranty is given as to the accuracy of any financial information contained herein or as to the achievement or reasonableness of any forecasts, projections, management targets, prospects or returns.

In addition, this document does not constitute an offer and cannot be considered as an offer of, or an invitation to, subscribe for or to purchase any securities. The information in this document is in summary form for convenience of presentation. Under no circumstances can this document be used or considered as a commitment by the Fund or GFI. Such commitment can only be given subject to certain conditions, including but not limited to, the following conditions: (1) satisfactory documentation and (2) approval of relevant internal committees.

The information contained in this document is not intended to provide, and should not be relied upon for, accounting, legal, regulatory or tax advice or investment recommendations.

Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Fund; (ii) the expected development of the Fund’s business, projects, and joint ventures; (iii) execution of the Fund’s vision and growth strategy, including with respect to future M&A activity and global growth; (iv) sources and availability of third-party financing for the Fund; (v) completion of the Fund projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Fund’s material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this presentation are based upon what management of the Fund believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Fund undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

The distribution of this document in certain jurisdictions may be restricted by law. Accordingly, persons into whose possession this document comes are advised to inform themselves about and to observe any such restrictions. None of the Fund nor GFI accepts any responsibility to any person in relation to the distribution of this document in any jurisdiction.

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Navigation

Table of Contents

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Fund Contact
Paul-Michael J. Rebus
Paul-Michael J. Rebus
CEO
Global Fixed Income Capital Partners Ltd.
Office +44 (0) 20 3983 6711
UK Mobile +44 (0) 74 8464 0997
NA Mobile +1 (647) 523 1721
Email pmrebus@gficapitalpartners.com
GFI Capital Partners GFI CAPITAL PARTNERS LTD.
 
Carolyn Dunlop
Carolyn Dunlop
Director of Corporate Finance / General Counsel
Global Fixed Income Capital Partners Ltd.
Office +44 (0) 20 3983 6710
UK Mobile +44 (0) 74 8323 2910
NA Mobile +1 (647) 564 1646
Email cdunlop@gficapitalpartners.com
GFI Capital Partners GFI CAPITAL PARTNERS LTD.
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Leadership

Executive Management

Katy Huang
Katy Huang
General Partner & Fund Manager
Geneva, Switzerland
Katy is an asset manager-investor with over three decades of financial management experience at leading firms including Deutsche Bank, AllianceBerstein, and State Street. She innovated the structured market in 2005 with launch and management of $1.4 billion SIV-Lite. Katy has managed portfolios for institutions and UHNWI families and has completed over $20 billion in structured transactions. She advises clients on their investments and collaborates to deliver and integrate emerging technology solutions for smart city projects. Katy also guides start-up founders and companies. Katy holds CAIA, FDP and CWMA charters and is a 100 Women in Finance FinTech leader and global angel. She regularly contributes to CAIA curriculum development and exam grading.
Melanie Salvador
Melanie Salvador
General Partner & MAKR Multiplier MD
New York Metro Area, USA
Melanie is a skilled leader that has been operating in the telecommunications and technology sectors for over 15 years as CEO, CIO, COO and CSO. This followed more than 10 years of corporate banking experience at TD Bank, Raymond James and SS&C (a subsidiary of State Street). Her teams have scaled companies across North America, Latin America, Middle East and Asia. Melanie serves on the Boards of several private companies in the AI, telecom and technology sectors. She also actively works with global partners toward solving UN SDG. Melanie is the CEO and majority owner of The Teralight Group, an active telecommunications company serving the MENASA region for 25 years.
Michael Foley
Michael Foley
General Partner & MAKR Velocity MD
London, United Kingdom
Michael is a global technology and commercial strategist with over 35 years' experience across a wide range of industries and technologies. During his 14-year tenure with Microsoft, Michael was a Director and core member of the teams that initially designed Microsoft Office and Windows. For the past 10 years, Michael has been deeply involved in artificial intelligence, including creating enterprise AI solutions as well as being a COO and advisor with numerous companies in the areas of AI, robotics, web3 and blockchain. Michael is a co-founder in 5 deep tech companies delivering on AI in education, the future of work, digital twins of an individual's knowledge experience and sustainability and sovereign identity systems through blockchain.
Rimah Harb
Rimah Harb
General Partner & RainMAKR Alliance MD
Dubai, United Arab Emirates
Rimah is a technology commercial strategist with over 15 years of experience implementing commercial and operations plans targeted for scale in select global markets. With a telecom engineering and technology background and experience at DHL, Ericsson, and MPT, Rimah forged his skills and practiced leading coordinated commercial operations strategies with a special focus on bridging the gap between technical product builders and commercial teams at the target company to achieve steady sustainable scale. Rimah's core competency lies in catalyzing go-to-market strategies for accelerated growth, all supported by streamlined agile operations. He advises select AI and Data companies in North America and the GCC.

75+ advisors with experience across institutions including Morgan Stanley, Imperial College, MIT, and IOHK

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Structure

Basic Fund Terms

Target Fund Size
U.S. $1 Billion
Structure
  • Actively managed
  • Jersey LP / Delaware LP
  • U.S. $25 million minimum commitment
Investment Policy
  • Expected portfolio of 70+ portfolio companies
  • VC Focus: AI focused and/or data-driven companies across all industry sectors
  • Early to Mid-stage companies
  • Focus specific accelerator for early-stage investments
  • Geographic restrictions: none other than related to high risk unstable or regions of conflicts
Initial Investment Term
  • 5+2 years (5-year investment/management focus, 2-year realization optimization)
  • Conditional two, 1-year extension (realization optimization-based)
Proposed Management Fee
  • 2% per annum
  • Carried interest (Subject to hurdle rate): 20% up to 4x, 25% for 4-5x, and 30% for > 5x
Portfolio Return Targets
  • Targeted Return: 30%+ per annum
  • Gross multiple: 8.1x
  • Net multiple (TVPI): 5.4x
  • IRR: 35% (gross) / 27% (net)
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Executive Summary

MAKR Venture Fund

$1.5 trillion is projected to flow into smart city infrastructure by 2030. Most of it is positioned to underperform because the capital stack and the technology stack remain disconnected.

$1B
Fund Target
35%
Gross IRR Target
5.4x
Net TVPI Target
$4.5B
Pipeline Under Discussion

MAKR Venture Fund is designed to close that gap.

MAKR invests in AI and infrastructure technologies reshaping the physical world.

Three integrated components operate as a single engine: venture capital, deployment readiness, and commercial acceleration.

MAKR sources the deal, funds the company, and builds the deployment pathway.

MAKR X provides direct pipeline access to $4.5B+ in active projects across Europe, the Americas, and the GCC.

National modernization budgets and AI infrastructure spending are compounding; MAKR was purpose-built for this cycle.

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Structure

Fund Structure

Fund Structure
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The Thesis

AI Is Becoming Infrastructure

1
AI is becoming infrastructure.
2
Infrastructure requires integration.
3
Integration requires orchestration.
4
Orchestration requires architecture.

MAKR is that architecture.

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Differentiation

The MAKR Approach

MAKR's value-creating approach invests in portfolio companies and systematically prepares them to execute successfully in high-profile, real-world smart infrastructure projects.

Traditional VC
Capital
Board Seat
Passive Monitoring
MAKR Venture Fund LP
Capital
Ecosystem Integration
Policy Alignment
Project Deployment
Compounding Value
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Ecosystem Architecture

Three Complementary Pillars

MAKR Alliance

Ecosystem Orchestration Engine

Curates the ecosystem and facilitates partnerships across portfolio companies.

MAKR Velocity Program

Technical & Operational Integration

Prepares companies for deployment through technical readiness and integration support.

MAKR Multiplier

Smart Project Commercial Opportunities

Policy alignment and deal flow generation for smart city initiatives worldwide.

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Pillar Detail

MAKR Alliance

Ecosystem Orchestration Engine

Curating the MAKR ecosystem to help portfolio companies scale faster:

  • Introductions and identifying technical and go-to-market synergies between portfolio companies
  • Upskilling on key topics (e.g. agentic AI, cybersecurity, data monetisation, etc.), via master classes and roundtables
  • Facilitating offers from key service partners (cloud-hosting, digital marketing, LLMs, etc.)
  • Helping portfolio companies build scalable distribution channels
MAKR Alliance
Upskill
Synergies
Distribute
Partners
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Pillar Detail

MAKR Velocity Program

Technical & Operational Integration Scaling

MVP prepares portfolio companies to meet real-world, demand-led requirements from high-profile smart infrastructure projects, ensuring that technologies can integrate effectively, operate reliably, and scale across multi-company deployments.

Example

Creating an integrated constructiontech solution for smart projects, which combines construction management tech, agentic AI, robotics and drones from various portfolio companies.

01
Input
Company enters pipeline
02
Assessment
Technical & commercial fit review
03
Integration
Cross-company solution design
04
Testing
Real-world validation
05
Deployment Ready
Live on smart infrastructure projects
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Pillar Detail

MAKR Multiplier

Smart Project Commercial Opportunities

MAKR Multiplier serves as the policy, strategic intelligence, and deal flow pillar for smart city and intelligent community initiatives. Multiplier positions MAKR portfolio companies to capture opportunities in smart cities, smart ports, smart stadiums, and other intelligent community projects by ensuring market readiness, regulatory alignment, and commercial viability.

Target Markets

Smart cities, smart ports, smart stadiums, sustainable coastal developments, waste-to-energy, luxury resorts, and intelligent community projects.

LATAM GCC EUROPE
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The System

The MAKR Wheelhouse

MAKR Venture Fund
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Fund-Owned Commercial Entity

MAKR Xponential

MAKR Xponential (MAKR X) is a Fund-owned technology orchestrator and commercial engine for smart projects, positioned to scout and advise on AI and emerging technology deployments across smart infrastructure initiatives.

$4.5B+ Pipeline Under Discussion
Central Europe
Motor Sport Circuit
$165M
US Midwest / East
Waste to Energy
$700M
Central America
Sustainable Coastal Development
$2.47B
South America
Security & Public Safety
$325M
Jamaica
Transformative Smart City
$600M
US Midwest
Sustainable Luxury Resort
$120M
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Strategic Partnerships

MAKR X Partners & Infrastructure Bridges

A network of strategic partners positioned to accelerate deployment across regions and sectors.

U.S. Construction Bridge

130+ Years of Operating History

Active discussions with a major U.S. construction firm. Institutional execution credibility, public infrastructure procurement pathways, and government relationships.

LATAM Lead Investor

Capital Anchored to National Transformation

Active discussions with a major LATAM investor positioned as lead. Direct proximity to modernization initiatives across El Salvador, Panama, Costa Rica, and Guatemala.

Advisory & Domain Partners

Construction, Hospitality & Technology Leaders

Strategic advisors spanning construction, hospitality, consulting, and technology providing domain expertise and project access across regions.

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Global Reach

Cross-Regional Infrastructure Alignment

Central America
National modernization initiative
LATAM
Tourism & infrastructure corridor (potential lead investor)
GCC
Real estate & tourism megaprojects
United States
130+ year construction bridge
Europe
Intelligent sports ecosystem (Italian football club)

MAKR is building an integrated architecture at the intersection of AI and physical infrastructure modernization.

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Operating System

MAKR Hive

MAKR will ensure seamless and integrated operations across the various fund management activities, including the pillars, through its proprietary AI-driven platform, The Hive.

Foundational model developed. Licensed to MAKR Venture Fund.

  • Integrated document and due diligence management
  • Cross-pillar coordination and reporting
  • Portfolio monitoring and performance analytics
  • Innovation pipeline tracking
MAKR
Hive
Documents
Due Diligence
Innovation
Reports
Monitoring
Collaboration
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Illustrative Example

Intelligent Operating Environment

An illustrative example, still in progress, of how portfolio companies are designed to work together inside a smart infrastructure project.

PPC6

ORCHESTRATES

AI-powered market research and marketing platform coordinates scheduling, logistics, security protocols, and data flows across the project.

PPC1

VISUALIZES

Computer-generated holography platform renders real-time infrastructure data in control rooms and command centres.

PPC7

DETECTS

Wireless radio location tracking monitors environmental conditions, security perimeters, and structural integrity with sub-meter precision.

PPC6

DELIVERS

Field operators access the integrated stack via proprietary smartphone device on-site.

PPC6
AI Engine
PPC1
Holographic Eyes
Integrated Stack
PPC7
Precision Location
PPC6
Delivery Platform

* MAKR takes a board seat and actively engages in portfolio company governance.

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Global Pipeline

Construction — The Infrastructure Bridge

01
Partner
Major U.S. construction firm with 130+ years of operating history and deep public infrastructure reach
02
Scale
Public procurement, government relationships, and institutional-grade execution capability
03
Opportunity
Embed AI, robotics, drones & digital twins into generational construction environments
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Global Pipeline

LATAM — Capital Anchored to National Transformation

Active discussions with a major LATAM investor as lead investor.

01
El Salvador
Country-wide modernization
02
Panama
Tourism-driven smart infrastructure
03
Costa Rica
Smart tourism expansion
04
Guatemala
Regional development

MAKR X positioned as technology partner across this corridor.

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Global Pipeline

GCC — AI Inside Purpose-Built Cities

Active discussions with major real estate developers across the GCC.

01
Technology
AI-native platforms, digital twins, and robotics across flagship megaprojects
02
Market
The most ambitious urban development cycle happening anywhere in the world
03
MAKR Role
Technology infrastructure layer spanning the entire development ecosystem
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Global Pipeline

Europe — Intelligent Sports Infrastructure

Active discussions as technology partner to a professional football club in Italy.

01
Capabilities
Smart access, biometric entry, AI fan engagement, security, mobility & data monetization
02
Platform
Stadium as a controlled, high-density, data-rich infrastructure environment
03
Scalability
Model designed to replicate across European sports venues
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Fund Details

Investment Policy

Predominantly equity and joint-venture arrangements, targeting 30%+ expected ROI per annum, subject to portfolio balance, concentration limits, and overall portfolio risk.

20%
Seed
40%
Series A
30%
Series B
10%
Series C

Expected portfolio of 70+ companies across all industry sectors.

VC Focus: Early to mid-stage AI and data-driven companies across all industry sectors.

Geography: No restrictions, other than high risk, unstable, or regions of conflict.

Exit Strategy: Clear and defined exit strategies required prior to investment in potential portfolio companies.

Portfolio Composition: Common shares, preferred shares, hybrid securities, and joint-venture arrangements.

Diversification: Various concentration limits to target a balanced and diversified portfolio.

Note: Detailed investment policy and procedures available upon request.
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Target Allocation

Focus Areas

Projected exit multiples and timelines by sector

Focus Areas Allocation Projected Exit Multiple Avg Exit (Yrs)
Smart Living 25% 9.5x 5
AI Infrastructure 25% 10.5x 5.5
Identity and Security 15% 7.0x 6
Travel, Transportation and Logistics 15% 8.5x 6.5
Entertainment, Media and Sports 10% 7.5x 7
Health and Wellness 10% 10.0x 6
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Leadership

A Selection of MAKR Advisory Members

David Shrier
David Shrier
Drove $11bn of technology growth initiatives in academia & private sector. Launched MIT & Oxford Fintech and Blockchain classes and Oxford Cyber Security for Business.
John Osborne
Technology and telecom advisor specializing in digital media and AI innovation. Former CTO at Mobeam, successfully acquired by Samsung in 2017.
Caroline Chan
Caroline Chan
Former VP & GM of Telco and Edge AI at Intel Corporation. 15+ years leading 5G infrastructure, wireless strategy, and telecom innovation at Intel. Director of EnerSys (NYSE: ENS).
Felix Wass
Felix Wass
International, blue-chip, startup, and turnaround expert, disrupting traditional physical businesses via AI & robotics. Transformed infrastructure business into a hybrid physical/digital market.
Jozef Wallis
Group CEO of Terraprima Group with 17 years in digital adtech, business development, and executive management. Award-winning company builder and active investor.
Roger Singh
Multiple exits including Rubikloud & Scalar Decisions. LP & Entrepreneur-in-Residence, avid race car collector.
Barbara Bickham
Award-winning CTO & VC with 35+ years in technology and entrepreneurship. Founder of Trailyn Ventures; Managing Director of Women's Innovation Fund.
Dave Bialek
Dave Bialek
Co-Founder & CEO of ReKTGlobal; owner of Rogue Esports and London Royal Ravens. 25+ years in sports marketing and media. SBJ Forty Under 40 recipient.
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We are not riding the AI wave.
We are building the infrastructure layer beneath it.

MAKR
VENTURE FUND

Confidential. For Intended Recipients Only

GFI Capital Partners MAKR Venture Fund