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The “Founder-Friendly Investors” award is a program designed by Inc. Magazine to help founder-led companies accelerate growth and create revenue. Private equity and venture capital firms that have exited U.S.-based, founder-led portfolio companies are eligible to apply. For investments to qualify, portfolio company founders must have remained actively involved in their business for at least one-year post-investment. Winning firms are selected based upon their investments and founder references. Graycliff is not aware of the number of advisers also surveyed for the award. Like all entrants, Graycliff paid a fee to be considered for this award. This award is not to be construed as indicative of Graycliff’s future performance. Reference to an award is only one piece of information relevant to an evaluation of an investment adviser such as Graycliff. Finally, this award represents information as of a specific date and time and may not reflect important information related to an evaluation of the investment adviser which has occurred prior to, or subsequent to the award. The 2022 List of Founder-Friendly Investors was published by Inc. Magazine in October 2022.