1st December, 2022

WM Partners Co., Ltd.
Alternative Investment Capital Limited
Announcing the Completion of the Investment in Femto Growth I L.P.
WM Partners Co., Ltd. (President: Yasuo TOKUNAGA, Head Office: Chiyoda-ku,
Tokyo, "WM") and Alternative Investment Capital Limited (President: Reijiro SAMURA,
Head Office: Chiyoda-ku, Tokyo, "AIC") announced that Japan Private Equity
Opportunity 2021 Investment Limited Partnership (“JEPOF2021"), which jointly
operated by WM as a general partner and AIC as its investment adviser, completed theinvestment in Femto Growth I LP (the "Fund"(*1)).
(*1) The Fund was formed as a continuation fund for Femto Startup LLP and Femto Growth Capital
L.P..

Continuation funds could be the solutions to the various needs of stakeholders, suchas General Partners (“GPs”), Limited Partners (“LPs”), and Portfolio Companies, in thelater stage of the Private Equity Funds (“PE Funds”). This is due to the fact that suchfund schemes offer liquidation opportunities to existing LPs, in which GPs are able totransfer some of the assets in the existing fund to the continuation fund.
Through the operation of the JPEOF2021, WM and AIC have provided adequate
liquidation opportunities to domestic investors and offered flexibility in fundmanagement to fund managers of PE funds, thereby contributing to the further
development of the domestic PE fund markets.

Femto Partners LLP / Tetsuya ISOZAKI" Since we would like to establish a structure of providing continuous support for portfolio
companies’ growth beyond the existing fund's expiration, we consider the best way by
discussing with our investors. Especially with profound discussions with WM and AIC,
with both parties being active in the fields of secondary transaction and primary
investment, regarding that kind of scheme, we've successfully formed the continuation
fund which is not often heard in Japan and received unanimous consent from all theinvestors of the existing funds. We greatly appreciate your continuous support for thegrowth of portfolio companies."

AIC Managing Director / Yuichi NAKAHAMA"GP-led transaction, such as fund restructuring using continuation funds, has recently
reached about half of the global secondary transactions and been established as one of
the liquidation options for LPs. However, it has not been used actively in the domestic
market yet. We strongly believe that the completion of this transaction with Femto
Partners LLP will contribute to the "development of the domestic secondary market andPE fund market", which is the primary objective of JPEOF2021. We are delighted to haveparticipated in such a meaningful and worthwhile transaction."

WM Director / Shohei SUZUKI"It is a great honor for us to have an opportunity to participate as an investor in thecontinuation fund formed by Femto Partners LLP, a pioneering venture capital firm. We
had various discussions with Femto Partners LLP in forming this Partnership, apioneering case in Japan, and we successfully achieved it with the support of our
stakeholders. WM Partners will continue to engagement with investors and fundmanagers of domestic PE funds and provide solutions customized to the needs of our
stakeholders."<Contact for inquiries>
WM Partners Co., Ltd.
Kakimi koujimachi Annex Bldg.4F, 3-2 Kojimatchi, Chiyoda-ku, Tokyo 102-0083 JapanTEL 03-6261-4601
Contact person: Shohei SUZUKI
E-mail jpeof@wmpartners.jp
Alternative Investment Capital Limited
6F, Tekko Building 1-8-2 Marunouchi, Chiyoda-ku, Tokyo 100-0005, JapanTEL 03-5218-5228
Contact person: Yuichi NAKAHAMA
E-mail secondaries_group@aicapital.co.jp