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Investment Strategy

We make two types of investments:

• In existing companies where we act in a traditional role as an outside venture capital / private equity investor; and
• In start-up companies that we co-found with seasoned management teams where we are active as high level advisors providing strategic guidance, and, if part of the business plan, temporary management.

Terrapin is flexible with regards to the sectors it invests in. As long as there is an understandable investment thesis, Terrapin will evaluate an investment opportunity. In general, we look at:

• Technology
• Healthcare, including services and devices (but excluding biotechnology)
• Basic Industry and Services
• Energy
• Retail, Food and Hospitality
• Media (but not original content)
• Real Estate

Terrapin looks to invest in U.S. based entities, though in rare cases, will invest abroad. We are flexible with regards to the size of deal we are willing to look at and will consider most investment structures, though we prefer equity investments.

Terrapin's target ownership level spans from control level equity stakes to small investments with no board seats. Our activeness with our portfolio companies varies greatly, depending on the presence of other investors, the industry, and the management team in question. With regards to seed and venture capital stage investing though, we only make investments when we feel we can materially help management grow their companies.

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Representative Investments

 

	Equipois Inc. manufactures and sells a patented mechanical arm that assists and supports workers doing sustained work with heavy tools, thus reducing worker injury and increasing productivity.
In May 2008, Terrapin led a $3.45 million Series B preferred stock offering. top
	Aldabra 2 Acquisition Corp. was a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an unidentified operating business.
Nathan Leight was the company’s Chairman of the Board. Jason Weiss was the company’s CEO. In June 2007, Aldabra 2 raised total gross proceeds of $414 million in its initial public offering. In February 2008, Aldabra 2 acquired the paper and packaging assets of Boise Cascade, LLC in a transaction valued at more than $1.6 billion, changed its name to Boise Inc., and began trading on the NYSE under the symbols BZ and BZ.WS top
	Aldabra Acquisition Corporation was a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an unidentified operating business.
Nathan Leight was the company’s Chairman of the Board. Jason Weiss was the company’s CEO. In February 2005, Aldabra rasied total gross proceeds of $55.2 million in its initial public offering. In December 2006, Aldabra merged with Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider of dredging services in the U.S., in a transaction valued at more than $400 million. top
	Nexsan Technologies, a pioneer of disk-based backup and Enterprise ATA/SATA storage technology, has been a driving force in the evolution of the information storage industry since 1999. Nexsan provides storage and data protection systems for corporate, compliance, disaster recovery, financial transaction data, active archiving and Information Lifecycle Management.
Terrapin provided secured convertible financing to the company in November 2006. top
	Underground Solutions Inc. (UGSI.PK) develops unique and proprietary technologies focused exclusively on underground pipelines, including drinking water infrastructure installation and rehabilitation.
In January 2006, Terrapin's private equity group participated in a $19 million private placement of UGSI common stock. top
	SeaChange Maritime LLC owns and operates container ships of between 1000-5000 TEU, which it places on short and medium-term time charters to leading container liner companies.
In March 2007, Terrapin participated in a $9.5 million redeemable/convertible preferred equity round. top
	Commerce360 Inc. is an Internet marketing firm that leverages its expertise in design, search optimization, affiliate programs, analytics and more to improve business performance.
Terrapin provided seed financing to the company in 2005 and participated in the company's financings in 2007 and 2008. top
	Altra Inc. acquires, develops and operates a portfolio of renewable energy projects throughout the United States specifically focused on the production and sale of ethanol and biodiesel.
In June 2005, Terrapin provided seed financing, along with several other investors, to a predecessor company. top
	Amplification Technologies Inc's revolutionary amplifiers and photodetectors have the potential to revolutionize the core functionality of next generation equipment for several industries, including medical diagnostics and communications.
Terrapin provided early stage financing to this semiconductor company with offices in New York and Moscow. top
	Eat Great Food LLC provided healthy, off-site catering services to K-12 schools.
Terrapin founded and capitalized Eat Great Food in 2005. top
	American Classic Sanitation LLC provides temporary site services for the construction and special-event industries including portable toilets, temporary fencing, and sink rentals.
Terrapin co-founded American Classic Sanitation and was the initial investor. Besides being the initial CEO, Jason Weiss was a member of the company’s Management Board at various times, and in 2004, the Chairman. Nathan Leight served on the Management Board. In March of 2004, United Site Services, Inc. purchased the company. At the time of the sale, ACS provided services to a geographic region extending from Southern California to Phoenix, Arizona, was the 8th largest privately held portable toilet company in the country, and had recorded 22 consecutive quarters of growth. top
	Diomed Holdings Inc. (AMEX:DIO) is a developer and marketer of minimally invasive medical technologies including its patented EndoVenous Laser Treatment (EVLT®) of varicose veins.
In September 2003, Terrapin participated in a private placement of Diomed common stock. In the fall of 2004, Terrapin sold its investment in the company. top
	e-STEEL Corp. was an Internet-based, neutral marketplace for the $700 billion global steel industry.
Terrapin co-founded e-STEEL. Nathan Leight was the company's initial CEO. In December of 1999, Terrapin sold its equity stake in e-STEEL to a Goldman Sachs-led group of investors. top
	Fasco Inc. is an Illinois based, ISO certified, value-added distributor of fasteners. Fasco assists clients by managing the finishing, packaging and inventory of parts.
Terrapin was involved with the company's acquisition financing. top
	PaperExchange.com Inc. was a web-based software platform for the trading of pulp and paper.
Terrapin co-founded the company and was the initial investor. Jason Weiss previously served as the CEO of the company. Nathan Leight served on the Board of Directors of the company. In September, 2000 Internet Capital Group (NASDAQ: ICGE) bought a majority stake, including all of Terrapin's holdings, in a transaction that valued the company at approximately $338 million. top
	VastVideo Inc. was a provider of special interest video content and related technology to web sites and iTV operators. VastVideo utilized its 18,000-title library to create subject-specific interactive VOD channels.
Terrapin founded VastVideo. top

Consulting Engagements

Terrapin Partners, LLC provides consulting for companies performing due diligence. We specialize in assessing technologies and systems, and in evaluating sales and marketing efforts. Our “best practices” approach to the due diligence process has been used to evaluate businesses ranging from medical device manufacturers to Internet companies.

 

	The Seafood Alliance LLC, an industry consortium created by 10 major seafood companies, was founded to explore the collaborative opportunities of business-to-business electronic commerce.
Terrapin provided strategic direction to help the Alliance determine its economic and partnership opportunities, including its ultimate merger with GoFish.com. top
	World Marketing Alliance Inc. was the nation's largest multi-level independent insurance brokerage before its acquisition by Aon Corporation in 2001.
Terrapin developed WMA's Internet strategy and provided interim management. top

For more information, please contact us at 212.710.4100 or info@terrapinpartners.com