1. AIA Capital Technology Fund, L.L.C.
Long/Short Technology Fund

2. 2
Disclaimer/RiskDisclosure
THIS DOCUMENT SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF ANY OFFER TO BUY AN INTEREST IN AIA CAPITAL TRADING, LLC,
AIA CAPITAL TECHNOLOGY FUND, LLC, AIA CAPITAL INVESTMENTS, LLC, (“THE FUND”), OR ANY PRIVATE INVESTMENT FUND MANAGED BY SHAWN
BALDWIN, WHICH MAY ONLY BE MADE AT THE TIME A QUALIFIED INVESTOR RECEIVES A CONFIDENTIAL PRIVATE OFFERING MEMORANDUM (“CPOM”),
WHICH CONTAINS IMPORTANT INFORMATION (INCLUDING INVESTMENT OBJECTIVES, POLICIES, RISK FACTORS, FEES, TAX IMPLICATIONS, AND RELEVANT
QUALIFICATIONS), AND ONLY IN THOSE JURISDICTIONS WHERE PERMITTED BY LAW. IN THE CASE OF ANY INCONSISTENCIES BETWEEN THE DESCRIPTIONS
OR TERMS IN THIS DOCUMENT AND THE CPOM, THE CPOM SHALL CONTROL.
THE INFORMATION CONTAINED HEREIN IS FOR USE BY THE INTENDED RECIPIENT AND CANNOT BE REPRODUCED, SHARED, OR PUBLISHED IN ANY
MANNER WITHOUT THE PRIOR WRITTEN CONSENT OF AIA CAPITAL TECHNOLOGY FUNDS, LLC. PROHIBITED DISTRIBUTION OF THE INFORMATION
SPECIFICALLY INCLUDES, WITHOUT LIMITATION, WEBSITE, PERFORMANCE INDICIES, OR SIMILAR DATABASES.
THIS FUND SHALL NOT BE OFFERED OR SOLD IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION, OR SALE WOULD BE UNLAWFUL UNTIL THE
REQUIREMENTS OF THE LAWS OF SUCH JURISDICTION HAVE BEEN SATISFIED. THIS DOCUMENT IS NOT INTENDED FOR PUBLIC USE OR DISTRIBUTION.
WHILE ALL THE INFORMATION PREPARED IN THIS DOCUMENT IS BELIEVED TO BE ACCURATE, AIA CAPITAL TECHNOLOGY FUNDS, LLC MAKES NO EXPRESS
WARRANTY AS TO THE COMPLETENESS OR ACCURACY OF, NOR CAN IT ACCEPT REPSONSIBILITIES FOR ERRORS APPEARING IN THIS DOCUMENT.
RISK DISCLOSURE: AN INVESTMENT IN THE FUND IS SPECULATIVE AND INVOLVES A HIGH DEGREE OF RISK. OPPORTUNITIES FOR WITHDRAWAL AND
TRANSFERABILITY OF INTERESTS ARE RESTRICTED, SO INVESTORS MAY NOT HAVE ACCESS TO CAPITAL WHEN IT IS NEEDED. THERE IS NO SECONDARY
MARKET FOR THE INTERESTS AND NONE IS EXPECTED TO DEVELOP. THE PORTFOLIO IS UNDER THE SOLE TRADING AUTHORITY OF THE GENERAL
PARTNER/INVESTMENT MANAGER. A PORTION OF THE TRADES EXECUTED MAY TAKE PLACE ON NON-US EXCHANGES. LEVERAGE WILL BE EMPLOYED IN
THE PORTFOLIO, WHICH CAN MAKE INVESTMENT PERFORMANCE VOLATILE. AN INVESTOR SHOULD NOT MAKE AN INVESTMENT, UNLESS PREPARED TO
LOSE ALL OR A SUBSTANTIAL PORTION OF THAT, HIS OR HER INVESTMENT. THE FEES AND EXPENSES CHARGED IN CONNECTION WITH THIS INVESTMENT
MAY BE HIGHER THAN THE FEES AND EXPENSES OF OTHER INVESTMENT ALTERNATIVES AND MAY OFFSET PROFITS.
THERE IS NO GUARANTEE THAT THE INVESTMENT OBJECTIVE WILL BE ACHIEVED. MOREOVER, THE PAST PERFORMANCE OF THE INVESTMENT TEAM
SHOULD NOT BE CONSTRUED AS AN INDICATOR OF FUTURE PERFORMANCE. ANY PROJECTIONS, MARKET OUTLOOKS, OR ESTIMATES IN THIS DOCUMENT
ARE FORWARD LOOKING STATEMENTS AND ARE BASED UPON CERTAIN ASSUMPTIONS. OTHER EVENTS WHICH WERE NOT TAKEN INTO ACCOUNT MAY
OCCUR AND MAY SIGNIFICANTLY AFFECT THE RETURNS OR PERFORMANCE OF THE FUND. ANY PROJECTIONS, OUTLOOKS, OR ASSUMPTIONS SHOULD NOT
BE CONSTRUED TO BE INDICATIVE OF THE ACTUAL EVENTS WHICH MAY OCCUR.
THE INFORMATION PROVIDED HEREIN, INCLUDING, WITHOUT LIMITATION, INVESTMENT STRATEGIES, INVESTMENT RESTRICTIONS, AND PARAMETERS,
AND INVESTMENT AND OTHER PERSONNEL, MAY BE MODIFIED, TERMINATED, OR SUPPLEMENTED AT ANY TIME WITHOUT FURTHER NOTICE IN A
MANNER WHICH AIA Capital Technology Fund, LLC BELIEVES IS CONSISTENT WITH ITS OVERALL INVESTMENT OBJECTIVE OF LONG-TERM CAPITAL
APPRECIATION.
Confidential – Not For Distribution

3. CompanyInformation
Executive Summary
AIA Capital Technology Fund, LLC (“AIA Capital Tech Fund”) is a Long/Short Technology-Focused hedge fund,
managed by AIA Research, LLC, that uses a proprietary investment process across several security classes, including
global equities, new issue global equities, and debt securities. The Fund services multiple institutional clients,
including public pension funds, corporate pensions, sovereign funds, endowments, foundations, family offices, and
hedge fund of funds. Our management team has over 50 years of combined financial services experience, spanning
across investment management, risk management, and investment banking.
Company Description
AIA Capital Tech Fund is a L/S Technology hedge fund vehicle serving
investors. The Fund will consist of five investment strategies: (1) New issue
global equities; (2) New issue global debt securities and/or private
placements; (3) 1st
year global equities for market neutral positions; (4)
Global Fixed Income securities; and (5) Existing Technology securities.
Mission Statement: Our mission is to exploit opportunities in the
Technology sector by deploying our proprietary investment strategies and
risk management processes in order to achieve long-term and short-term
gains on a total return basis.
Company Goals for Objectives: Our goal is to build a world-class alternative
investment firm with a target AUM of $50 million.
Business Philosophy: We believe that a hedge fund vehicle should offer
protection of principal and enhanced returns. The AIA Tech Fund will deploy
a proprietary investment discipline and management expertise in order to
deliver on these value propositions.
Target Market: The Fund will market its products to institutional investors,
public and private pension funds, corporations, endowments, family offices
and foundations, and hedge fund of funds. We will also target a select
number of high net worth individual investors.
Contact
AIA Capital Technology Fund, LLC
Shawn D. Baldwin – CO/CIO
John Carter – CO/CIO
208 S. LaSalle Street
Suite 1685
Chicago, Illinois 60604
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Tel: 312.214.1264 | Fax 312.214.1265
E-Mail: sbaldwin@cmgfunds.com
jcarter@cmgfunds.com

4. Overview
ProductsIndustry Overview
Competitive Strengths
The US hedge fund industry is projected to top two trillion dollars by
2016. Currently, there are over 8,000 hedge funds operating globally that
manage around $950 billion, up from $400 billion in 2001. Although the
majority of hedge fund invested assets - around 44% - are from wealthy
individuals and family offices, institutional investments in hedge funds as
an alternative investment vehicle, along with private equity and venture
capital, is a continuing growth trend. Of the $650 billion in US assets
invested in hedge fund vehicles, approximately 32% ($300 billion) are
institutional monies. Around 9% of institutional hedge fund invested
assets are from public and private pension funds. Key drivers of the
growth in institutional investing in hedge fund vehicles include: (1)
investor perception of increased transparency; (2) investor need for
exposure to securities markets; (3) investor need for capital preservation
and increased returns in a highly competitive market environment; (4)
potentially adverse conditions in other asset classes, including real
estate; and (5) regulatory conditions that make hedge fund investing
more compatible with institutions’ investment policies.
(Sources: US Securities & Exchange Commission, Hennessee Group, LLP)
The Fund is ideally positioned to compete in the hedge fund market for
institutional assets for three key reasons:
•Superior management team with diverse industry experience and a
proven track record in our investment area
•Extensive relationship network to assist with accessing liquidity and
implementing strategies
•Proprietary investment strategies and risk management processes
Fund I—Market Neutral Equity (Long/Short)
Target AUM: $40 million
• Invests in new issue equity and long/short equity securities portfolios,
generally paired trades in the same sectors
• Proprietary quantitative analytic model, combined with stock picking
acumen of portfolio management team, reduces market risks and
increases returns
• Leverage is employed to enhance returns
• High beta and high volatility stocks are targeted
• Additional hedging is provided through Options, ETFs, index futures,
and other derivative products
• Fund features an event driven component that focuses on IPOs and
bonds
Fund II—New Issue Debt Securities
Target AUM: $10 million
• Invests in new issue debt securities, along with bonds at deep
discounts, from companies in bankruptcy, reorganization, or other
special situations
• Profits are attained from market’s lack of transparency and the
undervaluation of securities due to misunderstanding of a company’s
worth
• Investment guidelines prohibit direct investment in below-
investment-grade debt securities
• Low to no market correlation and low volatility securities are targeted
• Fund features an opportunistic component that partners with
proven activist managers focused on proxy accumulation
• Family Offices
• Corporate Pension Funds
• Sovereign Funds
• Endowments & Foundations
• Hedge Fund of Funds
Target Client Base
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5. Biographies
Investment Management Team
Shawn D. Baldwin, Chief Executive Officer, Co-Chief Investment Officer
Mr. Baldwin has over 15 years experience in commercial banking, investment banking, research, and securities trading. As COO, he took a privately held RIA public and has
served a managing director of several regional investment banks. As founder and CEO of Capital Management Group Securities, he led an investment banking team to 72
transactions totaling more than $63 billion in value, including GE spin-off Genworth Financial, Chicago Mercantile Exchange, New York Stock Exchange, Inc. and Google,
Inc.
John Carter, Director, Co-Chief Investment Officer
Mr. Carter is responsible for trading equities and providing fundamental and technical analysis for AIA Capital. Previously, Mr. Carter managed his own investment
portfolio focused on large-cap technology equities. Prior to that, Mr. Carter worked at Morgan Stanley performing analysis and research for high net worth clients. Mr.
Carter was drafted in the 2004 NHL draft by the Philadelphia Flyers before attending Trinity College in Hartford, CT.
Dr. Jack Mosevich, PhD, Chief Risk Officer
Dr. Mosevich is head of risk management and is responsible for managing the development and deployment of integrated risk management models and systems.
Previously, he served as Head of Risk Management for UBS AG in North America. Dr. Mosevich was a member of the firm’s asset allocation and risk management group
and of the Quantitative Investment Committee. His prior experience includes the management of a market-neutral equity hedge fund at Stafford Capital Management
and, as senior partner, management of the quantitative analysis group at Harris Investment Management.
Dr. Mosevich currently is a lecturer in the University of Chicago Master of Science Program in Financial Mathematics. He has extensive experience in risk management,
quantitative investing, and financial mathematics. He has published several chapters in various books on derivatives theory, chaos theory, and fixed income risk analysis.
Steven Gauthier, General Counsel
Mr. Gauthier is responsible for overseeing daily operations on the currency trading desk, executing currency orders, and maintaining client relationships. In addition to his
experience trading currencies, Mr. Gauthier has over five years of financial and patent litigation experience and three years of experience as a product development
engineer in the semiconductor industry. He earned his Juris Doctor from St. John’s University School of law in 2006 and a B.S. in electrical engineering from the University
of Wisconsin-Madison in 2000. Mr. Gauthier currently holds a Series 3 license.
Joseph Day, Analyst
Mr. Day is focused on equity analysis within the technology sector, particularly in the social media and cloud computing subcategories. In addition, he is responsible for
identifying relevant global macroeconomic trends affecting technology and capital markets as a whole. Previously, Mr. Day worked at Morningstar, analyzing private fund
performance and portfolio data for plan providers and other institutional clients. Prior to joining Morningstar, he held positions as a software consultant in the cloud
computing and enterprise software sectors. Mr. Day has obtained his B.S.E. in Civil Engineering from the University of Michigan.
Claire Lee, Analyst
Ms. Lee is focused on equity analysis within the technology sector, particularly in the semiconductor, internet information providers, and wireless communications
industries. She is currently a sophomore at the Wharton School of Business of the University of Pennsylvania. She is working towards her B.S. in Economics with
concentrations in Finance, Marketing & Operations and Information Management, as well as a minor in Computer Science.
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6. Biographies
Board of Advisors
Dr. Tim Jenkinson, PhD, Advisor
Dr Jenkinson is Professor of Finance at the Saïd Business School and is Director of Oxford Finance and the Oxford Private Equity Institute. He is a director of various
companies, including economic consulting firm Oxford Economic Research Associates (Oxera), the leading German utility switching company Verivox Group, and the UK-
listed investment fund PSource Structured Debt (LSE: PSD). He has consulted for a large number of companies, regulators, government agencies, and industry associations.
He is a Professorial Fellow of the Keble College of Oxford University.
Tim joined the Saïd Business School in 2000. He was previously in the economics department at Oxford University, which he joined in 1987, and has also spent periods as a
Visiting Professor at Dartmouth College. He initially studied economics as an undergraduate at Cambridge University, before going to the University of Pennsylvania as a
Thouron Fellow, where he obtained a Masters in Economics. He then returned to the UK and obtained a D.Phil. in Economics from Oxford.
Dr. Christopher C. Geczy, PhD, Advisor
Dr. Geczy is Assistant Professor of Finance at the Wharton School of the University of Pennsylvania. His research areas include asset pricing, financial econometrics, and risk
management. His work focuses on various topics, including risk management, financial trading strategies and multifactor models, and the effects of data mining on testing
asset-pricing models. He is also a member of the Board of Directors of the Mid-Atlantic Hedge Fund Association.
Professional Leadership and Awards: Economic Advisory Board, NASDAQ; Caesarea Prize; Bank of Canada Research Award; Zicklin Center Research Grant; Q Group Research
Award; Sloan Fellow, Wharton; New York Stock Exchange Fellow, Wharton; Oscar Mayer Fellowship, University of Chicago; CRSP Research Award; Dice Fellow in Finance,
Ohio State University
Dr. Paul Gompers, Advisor
Dr. Gompers, Professor of Business Administration at the Harvard Business School, specializes in research on financial issues related to start-up, high growth, and newly
public companies. Professor Gompers has an appointment in both the Finance and Entrepreneurial Management areas. He received his A.B. summa cum laude in Biology
from Harvard College in 1987. After spending a year working as a research biochemist for Bayer Chemical AG, he attended Oxford University on a Marshall Fellowship
where he received an M.Sc. in Economics. He completed his Ph.D. in Business Economics at Harvard University in 1993. Professor Gompers spent two years as Assistant
Professor of Finance at the Graduate School of Business of the University of Chicago, where he created a new course entitled "Entrepreneurial Finance and Management."
His course development efforts at the Harvard Business School focuses on issues affecting entrepreneurial firms and their investors.
His research focuses on the structure, governance, and performance of private equity funds; sources of financing, incentive design, and performance of private firms; and
long-run performance evaluation for newly public companies. His work on private equity funds has examined the relationship between general partners and their portfolio
companies (much of his research is collected in The Venture Capital Cycle, forthcoming from MIT Press). Gompers has investigated factors affecting the structure, timing,
and monitoring activities by the general partner, and how these factors affect the success or failure of entrepreneurial firms. Similarly, he has examined the relationship
between institutional investors and private equity fund managers. This work has examined a large collection of partnership agreements and examined issues of
compensation, covenants and restrictions, as well as distribution policy and performance. Other research efforts examine the institutional and market factors that influence
the performance of newly public companies. He is a Faculty Research Fellow in the National Bureau of Economic Research’s Corporate Finance Program.
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7. InvestmentPhilosophy
Valuation DisciplineFundamental, Idea Based Approach
 Targets well-capitalized, deeply liquid names
 Selects companies with new growth drivers
 Utilizes a contrarian perspective of a company’s
prospects, compared to Street expectations
 The majority of positions are initiated based on
short-term expectations
 Short positions often have medium timelines (2
months or less)
 Event-driven, short-term trading
 Net realized gains taken long-term
 Stocks trading at a discount to their long-term
growth rate, currency and commodity arbitrage
 Momentum-based
 Short selection on fundamentals, not valuation-
based
 Preservation of capital
 Active downside management
 High risk-adjusted returns
 Proprietary investment strategies
 Proprietary risk management processes
 Management team experience and expertise
 Value added by relationship management
Trading Focus Value Propositions
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8. ValuePropositions&CompetitiveAnalysis
Strengths
 Independent thinking
 Identifying value (i.e. Discounted or Overvalued) in volatile environments
 Shorting
 New Issue: IPOs, Corporate Bonds, Private Placements
Idea Generation/Research
 Follow specialized literature & newsletters
 Attend industry conferences & events
 Consult industry experts & advisors
 Interact with Wall Street decision-makers
 Leverage relationships with Capital Markets teams
 Utilize Wall Street research
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9. ValuePropositions&CompetitiveAnalysis
Strategic Investment Opportunity
 Coverage of large-cap companies that are dynamic in their space and have both growth
and volatility. Consequently, we believe there is significant opportunity both on the long
and short side
 Focus on new capital markets products in initial growth curve
 Focus on undiscovered or misvalued small-cap companies currently not covered by bulge
bracket firms
 Management team has a proven track record and extensive investment experience
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10. ValuePropositions&CompetitiveAnalysis
Risk Management
 Close Monitoring of All Portfolio Positions
 Conduct detailed primary research of all positions
 Continually evaluate assumptions made in investment thesis
 Manage Position Size
 Daily analysis of position size
 Range 1-3% based on cost, 3-5% target size position
 Target core positions
 Hedge Individual Positions and/or Sectors
 Use of stock-specific options to hedge short term volatility and position size
 Use indices to hedge short term sector volatility
 Not actively managing market-related volatility
 Disciplined exit of position when thesis changes or price target is achieved
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11. ValuePropositions&CompetitiveAnalysis
Client Services
 Quarterly Management Team Letter & Audited Financial Results
 Monthly Position Reporting available upon request
 Audit Letters, Capital Balances, Tax Projections, Top Ten Positions, and Leverage Ratios
also available upon request
 Exclusive Portfolio Manager Access
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12. SummaryofTerms
Summary of Terms
Domicile: Onshore (Offshore options available)
Inception Goal: March 2012
Investment Minimum: $1 million USD
Management Fee: 2%
Incentive Fee: 20%
High Water Mark: Yes
Withdrawals: Bi-Annual with 30 day notice
Prime Broker: UBS
Fund Administrator: Appleby Advisors (Bermuda)
Investment Advisor: AIA Capital Trading, LLC
Accountants: Dooley & Associates
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