| DUE DILIGENCE QUESTIONNAIRECompany name :Date : Incorporation date :Sector : Location :Round size : Web site :Existing investors : Company contact :Questionnaire :

Existing need/challenge and your solution1. Please describe the need you want to fulfill, the challenge you are facing.2. Please describe your solution.

Technology3. Please describe the technology you have developed.4. What is the IP ownership and current situation?5. What is your IP strategy?6. Is there any dispute regarding the IP?

Company7. Who are the founders? What is their role in the company?8. Who are the key employees? What is their role in the company?9. Please describe the ownership of the company.10. Please provide a flow chart of the HR of the company.11. Is there any dispute between the company and an employee?12. Are any employees leaving the company?13. Do you have a motivation strategy/plan?

Current economic situation, business drivers and risks14. What is the current economic situation in your sector?15. Please describe the key business drivers of the Company.16. What are the main factors that can affect the future of the Company? (Geography, micro-macro economy, regulatory....)17. Please describe the key business risks within the Company and specify how you address that.

Business performance18. Please comment the business and the geographic development in your sector.19. How do you react to that?20. What are the expected growth opportunities for the next 3 years for your sector and your company?21. How do you plan to monitor your business performance?

Business plan and financials22. Which is the last updated version of the BP?23. What is your current capacity utilization (human capital, etc.)?24. How do you plan to control costs and which measures have already been implemented?25. What is the scale of revenue you need to reach in order to break even?26. What is your monthly current burn rate?27. What is you minimum operating cash level required in the short and midterm?28. Please detail planned capital expenditure requirements. How are these evaluated?29. Do you have a tax ruling? What is your future expected tax rate?30. Do you have a dividend policy?31. Please provide some information on current tax losses carry forward, including maximum amount per year that can be offset against future profits and expiry dates of different tranches,32. What is the plan B of the company.

Positioning33. In the short term, where in the value chain do you position your company?34. And in the medium-long term?

Infrastructure35. What kind of infrastructure does your company need?36. Are there any agreements already in place?

Market and Competition37. Briefly describe the market and its major players.38. Please describe your direct competitors.39. Please describe your technological advantage. How do you differentiate from your competitors?40. How can you sustain your advantage?41. Are there any competing products currently under development?42. How do you set prices?43. Please describe development/launch failures of products from your competitors.44. How is your monitoring and survey strategy?

Customers and sales45. Who are the customers of your company?46. How did you organize your distribution channel?47. Can you provide us with a list of key prospect customers?48. How is the sale process? (Customer acquisition strategy, sales cycles, key people involved....)49. What is the outlook for the next 2 years?50. How do you plan to establish your brand?

R&D51. What is the R&D strategy of your company?52. What is the status of the different projects in the pipeline?53. What are the metrics used to monitor the progress of the projects?54. What is the roadmap for the launch of your current/future products?55. Please detail development/launch failures of internal products.

Current round and financing policy56. What is the size of the current round of financing?57. Who is the lead investor?58. Who are the other investors?59. Please detail the uses of the foreseen capital increase.60. How do you expect to finance future growth after this round of financing?61. What is the size of the next foreseen financing round?62. Do you have a funding policy strategy for the medium term?63. Do you have a credit line with a bank? Are you in discussion with other financial intermediaries?64. Do you have any outstanding convertible loans? Please detail key terms.65. Do you plan to finance yourself with new convertible loans?66. Do you have any other loan or liability?67. Are you planning to apply a 'one share-one vote' policy in the short to medium term?68. Do you profit from any guarantees or other help from state entities?

Shareholders69. Are the existing shareholders from management and employees taking part to this round of financing?70. Are there any shareholders that want to sell their participations?71. Is there an ESOP?

Previous financing rounds72. Please provide a cap table summarizing the different past price offerings, amounts raised and names of investors.73. Please correlate with the development of your company.

Accounting and auditing74. Do you plan to change your accounting methods? (CH-GAAP to IFRS,.....)75. Please describe your relationship with your auditors. Have there been any disagreements or discussions?76. Is the company aware of any problem in its internal accounting, reporting and risk management systems?77. When do you expect the audited financial statements for last year?

Legal and tax78. Is the Company aware of any ongoing or upcoming claims or court proceedings?79. Are there any tax risks? Are there any disputes with the tax authorities?80. Is the Company aware of any ongoing or upcoming antitrust issues or violations of the competition law?

Documents and references81. Could you please set up a secured web room where to post all the confidential documents that we will need to consult? (see due diligence list enclosed)82. Could you please give us some names and referrals from your providers, partners and clients?83. Who are the KOL who could provide advisory on your company?

Exit84. Please provide a detailed description of the Exit strategy for the company.85. Please provide a benchmark for your strategy.