Cambridge Capital is a leading investor in the supply chain sector. The firm focuses on transportation, logistics, distribution, technology, and related fields. The team is led by Benjamin Gordon and other executives who have founded, built, advised, and invested in some of the most successful firms in the supply chain arena.

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Cambridge Capital Supply Chain Fund
Summary
Private and Confidential

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Why Cambridge Capital?
Overview
Cambridge Capital is a private investment firm focusing on high growth companies at the intersection
of supply chain and technology. For nearly two decades, our team has been considered a leader for
supply chain companies. We began as advisors at BGSA, and then became investors at Cambridge.
Market Opportunity
▪ The supply chain sector is a vital market. It represents close to 30% of the US economy.
▪ This industry is large, growing, and fragmented, with over 10,000 target companies.
▪ Asset-light and technology-based companies are particularly attractive, as they are cycle-
resistant and grow faster than GDP.
Cambridge Capital
Cambridge core advantages include:
1. Proprietary insights: unparalleled domain expertise
2. Top team: two decades of operating, investing, and transactional experience together,
including proprietary relationships with over 10,000 companies in the sector
3. Track record of value creation: including well-known successes like XPO, Grand
Junction, and others

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19th Century:
The Railroad
20th Century:
The Box
21st Century:
The Digital Supply Chain
▪ In 1869, Leland Stanford drove the
Golden Spike into the ground in
Utah, creating the first coast-to-
coast railroad
▪ Railroad fortunes were built by the
Vanderbilts, Carnegies, and Flaglers
▪ In 1956, Malcolm McLain refitted
an oil tanker to carry 58 shipping
containers from Newark to
Houston
▪ Containerization helped fuel the
fortunes of shipping and trucking
empires like Maersk and JB Hunt
▪ “The Amazon Effect” sparks a new
ecosystem in automation, e-commerce
fulfillment, and the digital supply chain
▪ New billion-dollar winners emerge,
including Uber, GENCO, Descartes and
XPO
Proven opportunities to build multi-billion dollar fortunes over time
Why Supply Chain?

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Electric
Theme Insight Examples
The Future: Key opportunities in today’s supply chain
Our Investment Thesis
The Uber model is transforming entire industries, based on a 160 million-
strong “gig economy,” and with broad applications in transportation.
Shared Economy
Connected
Autonomous
E-commerce/
Digital Logistics
Consolidation
Globalization
Last Mile “The Amazon Effect” is driving new supply chain models, and
producing 23% growth in the $10 billion same-day/last-mile market
As global trade grows, the demand for dense global networks is
increasing, creating opportunities in cross-border logistics
In the fragmented world of logistics, the top 50 control just over 50%
of the market. XPO showcases how to consolidate it.
Ecommerce is a $2 trillion market, growing at 16%. This produces
opportunities for new logistics models in digital logistics.
Self-driving trucks have already appeared, led by truck safety and fuel
applications. Level 4 self-driving cars are less than 2 years away.
Connected cars are a $30 billion market growing 6x in the next 3 years.
We see opportunities in connectivity and in transport cybersecurity.
Electric vehicles are becoming cost-competitive, fueling 30% growth
in vehicles, infrastructure rollouts, and new supply chain networks.

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Team of Experts in Supply Chain
Deep domain expertise
Cambridge Capital Team Cambridge Capital Advisors
Benjamin Gordon – Partner
▪ Founder, BGSA
▪ Founder, 3PLex
▪ Yale BA, Harvard MBA
▪ 17-year history with the firm
Dave Stubbs – Partner
▪ Previously Kuehne + Nagel Lead Logistics
▪ Built company from 0 to $400M
▪ Haverford BA, Wharton MBA
▪ 17-year history with the firm
Shai Greenwald – Director of Business Development
▪ Previously FleetBoston Financial, EMC
▪ Built BGSA’s business development
▪ Boston University MBA
▪ 17-year history with the firm
Matt Smalley – Vice President
▪ Previously Macquarie Capital, Insight Venture Partners
▪ $1 billion of executed private equity investments
▪ NYU Stern BS
▪ 8-year experience as an investor
Jack Holmes – Senior Advisor
Former President, UPS Freight
Herb Shear – Senior Advisor
Former CEO, GENCO (now FedEx)
Gene Tyndall – Senior Advisor
President, MonarchFx;
Former President, Ryder Logistics
Paul Svindland – Senior Advisor
CEO, Celadon
Doug Waggoner – Senior Advisor
Chairman and CEO, Echo Global Logistics
Rimas Kapeskas – Partner
▪ Former VP Strategy and Managing Director, UPS
Strategic Enterprise Fund
▪ Univ of Connecticut BS, Emory MBA
▪ 34 years logistics experience
▪ 9 years investment experience

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Partnering with Companies Ready for Future Growth
Differentiated Technology Outstanding Management Strong Growth Orientation
Investment Characteristics and Underwriting Parameters
▪ Preferred Investment Size: $10-50 million equity investments
▪ Ownership: Comfortable investing in a majority or minority capacity
▪ Use of Proceeds: Growth capital, strategic initiatives, acquisitions, and shareholder liquidity
▪ Partnership Approach: We invest in partnership with management to add tangible value
Logistics Distribution Last-MileTransportation Automation
Investing in Successful Businesses Across All Segments of the Supply Chain
▪ Companies that employ technology to drive
differentiation
▪ Disruptive business models and a unique
offering in the market
▪ Category leadership, first-mover advantage,
or other barriers to entry
▪ Top-notch management teams with clear
vision for future growth
▪ Experienced leaders with demonstrated
ability to achieve growth and profitability
objectives
▪ Profitable, growing companies
▪ Strong base of recurring revenues and
positive cash flows
▪ Well positioned to accelerate further
growth and gain market share
A unique sector-focused strategy in the supply chain
Cambridge Capital Investment Criteria