Page 166 - Demo

Recent InvestmentsHealthcare Business ServicesEducationPractice management group providing solutions for diseases of joints, muscles, bones and arthritisAnesthesia and administrative supportservices for in-office and ambulatorybased surgical proceduresMulti-specialty behavioral health platform providing rehabilitation services to young adultsTechnology-enabled language solutions provider helping organizations communicate across 250+ languagesMulti-site, multi-therapeutic, clinical research site network serving pharma, biotech companies and CROs Provider of a complete range of cosmetic surgery and cosmetic dermatology servicesProvider of business and operational support services to endodontic, oral surgery and periodontic partnersAdvisory services for hospitals and physicians enabling healthcare providers to qualify under value-based paymentmodelsDevelops, markets and implements SaaS solutions for financial and businessanalyticsProvider of managed cloud services and enterprise workload consultingservices across cloud platformsManaged IT and private cloud services for financial services and life sciences companiesEntertainment payroll and accounting servicesProfessional services company investing in architecture and engineering firmsFull-service IP consulting firm providing technical, valuation, and strategic advice to patent owners and law firmsBusiness process outsourcing partnerserving SMBs across the U.S.Fire & life safety containment services provider focused on the spread of fire,smoke, water & infection in buildingsLegal service organization that supports law firms focused on legal recoveryNationwide provider of multi-site rollouts and refreshes and facilities maintenance servicesSalesforce consulting firm helping firms with go-to-market technology strategyEducational content provider focused on foundational and supplementalliteracyProvider of educational videos and reference databasesProvides research-based educationsolutions for students in Pre-K through12th grade Technology-based education solutions toschool systems and home-schoolingfamiliesInvestments as of January 2026 * Indicates Past Portfolio Company*****Operator of the Williamsburg Northside School in Brooklyn, NYProvider of assessments, stakeholder surveys, self-evaluation systems and professional development services**Practice management group partneringwith lower extremity care clinicsthroughout the United StatesConsulting firm specializing in procurement / sourcing strategy and spend management advisory servicesImportant Disclosures%u2013 This material is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities. All investmentsinvolve risk and may lose value. Unless otherwise stated, investments are not guaranteed. Advisory services are provided by VSS Fund Management LLC, a registeredinvestment adviser with the U.S. Securities & Exchange Commission. Registration does not imply a certain level of skill or training. The portfolio companies listed are forillustrative purposes only and do not represent all investments made by VSS. Past performance is not indicative of future results. For a complete list, visitvss.com/portfolio. This communication does not constitute investment advice, research, or a recommendation. Opinions and strategies are subject to change. Anyreferences to specific securities or markets are for illustrative purposes only. This material was prepared without regard to the specific objectives, financial situation, orneeds of any particular investor.Investments: The investments presented represent a diversified selection spanning VSS%u2019s primary sector focus areas: healthcare, business services, and education, andwere chosen based upon objective criteria.(1) Third-Party Ratings and Recognitions%u2013 Inc.%u2019s 2025 List of Founder Friendly Investors: Published in October 2025. Based on firms that exited at least one founder-ledportfolio company within the previous five years. It evaluates growth among companies partnered with private equity, venture capital, or debt firms. Compensation wasprovided by the adviser. M&A Advisors%u2019 Private Equity Firm of the Year %u2013 Up to $5B AUM: Published in November 2024. The adviser paid a standard application fee butdid not provide any compensation for the recognition. Global M&A Network%u2019s Outstanding Firm in USA Private Equity%u2013Lower Middle Market: Published in June 2024.Based on deals closed between February 1, 2023, and February 1, 2024. No compensation was provided by the adviser.Provider of electrical and other specialty trade services for commercial, residential and industrial clients in the Northeast