Invest in the degrees of high potential students in emerging markets.

We invest in the education of the brightest students in
developing countries. Students earn a degree, our
investors an attractive return.

Brighter Investment Pitch Deck July 2018 | t.mathot@brighterinvestment.com | +1.778.985.4562
Problem / Opportunity
Despite the high return, financing for a degree simply isn’t available for many students
Poverty and high youth unemployment: Poverty is a prevalent problem in
developing countries and youth unemployment often surpasses 30%.
But a shortage of graduates with good degrees: Flourishing engineering firms,
software startups, agricultural companies etc. struggle to find qualified employees.
The result is a very high ROI from higher education: A degree increases income 5x,
educates graduates’ children and contributes to the development of the country.
Unfortunately degrees are out of reach for most of the population: Banks don’t
provide student loans. Governments & NGO’s don’t have the capital to address this need.
Our opportunity for value creation: Investing in the degrees of talented students so
they can kick start their careers is our opportunity to create and capture value.
1/13

Brighter Investment - Katapult 2018 | t.mathot@brighterinvestment.com | +1.778.985.4562 3/9
Adua’s degree is a
great investment
opportunity
Without his degree, Adua would most likely be working with his dad as a trotro driver and
earn about 125 USD per month. As a medical consultant Adua is earning 750 USD per month
and repays us 185 USD per month to be paid out to investors or reinvested in new students.

Scalable solution
Support diversified cohorts of the best and brightest students for a % of future earnings
Our data driven underwriting algorithm selects the brightest students and we focus on the best degrees.
We cover the full education costs for diversified cohorts of 1st
, 2nd
, 3rd
and 4th
year students.
Students are connected with mentors to kickstart a successful career.
After graduation students repay a percentage of their income for a set period of time (typically 6 years).
Investors receive distributions in year 2-12 from repayments made by graduated students in their cohort.
Brighter Investment gets a management fee. This provides equity investors with their ROI.
3/13

Our model works
22 repaying students that outperform peers and projections show that our model works
Performance Context
0% dropouts
0% of our students have dropped out of university. At our 6 partner universities the
average dropout rate is 6%.
4.5% unemployment
For Brighter uni grads that completed their program, unemployment is 4.5%.
Unemployment is 10% for the average graduate and 25% for their total age group.
5X salary increase
On average our working university graduates earn 5 times as much as high school
graduates without a degree.
0% non-repayment Of the students that have secured employment, 100% are making repayments.
4/13
*Because of our method to identify high potential students, our graduates are outperforming their peers and our
projections in every category. That’s why our first investors are expected to earn a better than projected ROI.

Market size
$600 billion unserved market
In developing countries, 60 million high potential students graduate from high school every year with
the grades, potential and ambition to attend college, but not the financial means to do so.
GHANA
120k high school
grads/yr
require $1.1 bln
WORLD WIDE
60m+ high school
grads/yr
require $600 bln
INDIA
12m high school
grads/yr
require $140 bln
SOUTH AFRICA
450k high school
grads/yr
require $6.2 bln
INDONESIA
560k high school
grads/yr
require $4.9 bln
5/13

Predictable return
Percent-of-income repayment model provides a predictable return
Predictable:
● Projected ROI conservatively based on 20 years of historic data for average
students, our high potential students perform above average.
● A large and diversified portfolio of students means returns are driven by
predictable average graduation, employment, and income rates.
● Repayment ensured through a combination of social, legal, and practical incentives.
Low volatility and inflation/FX hedged:
● During periods of high inflation, local currency loses value but graduate salaries tend
to maintain their value in investor currency. Volatility of returns would have been 5.4%
over the past 20 years despite years of high inflation. (S&P500 volatility was 18%)
● Over the last 20 years, developing country wages have actually increased 5% faster
than they were diluted by inflation and changing exchange rates.
6/13

Validation
Launched with 24
students at 3
partner uni’s in
Ghana.
Launch
Repayments
Growth trajectory and capital sources
Angels, foundations and impact investors bridge the gap to institutional capital
First graduates
from a vocational
training program
started making
repayments.
$350k in debt capital
for students. 130
students supported.
21 repaying grads
outperforming
projections.
Accelerated growth
funded by
institutional
investors investing
in student cohorts
and VCs investing
in the company to
scale operations.
Scale 44,000 new students
supported per year,
$340 million under
management and a
presence at 108
universities in 10
countries around
the globe. The
future is bright!
Goal
2015 2016 2017 2018 - 2020 2021 - 2023 2024
7/13
Expansion to other
countries. Building
a track record and
scale that makes
Brighter Investment
attractive to institu-
tional investors.
Growth

Brighter Investment - Katapult 2018 | t.mathot@brighterinvestment.com | +1.778.985.4562
Impact multiplying over time
Impact and value of your investment increase exponentially over time
$100k donated
in the form of
scholarships
$100k invested with
Brighter Investment,
distributions paid out
$100k invested with Brighter
Investment, distributions
reinvested for 12 years
13 students
supported
0 financial
return
13 students
supported
$172k repaid
in y2-y12
37 students
supported
$617k repaid
in y13-y24
9/9
Her repayments
can support two
new students
For investors that reinvest distributions to grow the value of their investment, one repaying
student supports two new students, who can support 4 new students etc.
Both the value of the investment and impact of the investment increase exponentially over time.

Impact multiplying over time
Impact and value of your investment increase exponentially over time
$100k donated
in the form of
scholarships
$100k invested with
Brighter Investment,
distributions paid out
$100k invested with Brighter
Investment, distributions
reinvested for 12 years
13 students
supported
0 financial
return
13 students
supported
$172k repaid
in y2-y12
37 students
supported
$617k repaid
in y13-y24
9/13

The team
Combined experience provides required expertise
Richard Adarkwah
Ghana operations
Thijs Mathot
Data & Tech
Space systems engineer,
data science, raised
institutional funding for
PPP projects and high
growth data tech startup
veteran.
Finance specialist,
strategy consultant,
raised multiple rounds
of funding for a fast
growing startup.
Tyson Titensor
Bus Dev & Capital
Google Education
Ambassador, Unicef
project manager and
Ghanaian uni graduate that
faced
financial difficulty.
10/13
Joy Lamptey
Mentorship & marketing
Ghanaian MBA graduate,
Mentor at Eagles Hope
Foundation, HR specialist
and recipient of BI
education loan.

Contribute to the UN Sustainable Development Goals
1. No Poverty: Our students increase their income 3-5X, their children are more likely to be educated
and their families benefit from better health and housing.
4. Quality education: Not only do we provide our students with access to quality education, our market
driven approach also incentivises education providers to improve the job relevance of their programs.
5. Gender equality: Women are disproportionately affected by lack of access to higher education, we’re
actively working to remove these barriers, financial and non-financial.
8. Decent work and economic growth: We focus on degrees that are in high demand and offer good
career prospects. Through economic growth one graduate also results in 3 jobs for less educated people.
10. Reduced inequalities: In emerging markets, access to higher education is mainly determined by
your family background. We’re providing our students with an equal opportunity to a degree.
11/13
Afor-profitinvestmentmodelcanreachalargerscaleandhavemoreimpactthananon-profit

Why now?
Demand for higher education is large and growing - The workforce of sub-saharan Africa and
southeast Asia will increase by 2 billion people by 2050. Employers report an inadequately skilled
workforce as the major constraint to their businesses.
The required capital needs new investment opportunities - Socially responsible invested assets are
growing by 9% per year. Institutional investors report that demand for large and proven impact
investment opportunities outpaces supply.
It is now technically possible to cost effective serve our target market - Internet penetration in
emerging markets is growing rapidly. Also poor young people access the internet, use Whatsapp and
update their Facebook profile. Internet and technology make it possible to cost effectively reach and
serve the poorer market segments.
12/13
Three trends coalesce to create this opportunity

We’re changing the world. Be part of it.
Our model has been proven on a small scale. Help it grow.
Invest in our next cohort of students for a % of their future income:
● Predictable and stable return conservatively projected at 9%
● Clear exit in the form of distributions in year 2-12
● Direct positive impact on the lives of bright students and society
Invest in our vision for an equity stake in the company:
● $500k USD in equity investment at $3 million valuation
● Part of $2 million operational budget to enter new markets, to scale up
sales & marketing & continue the development of the technology
● An acquisition planned in 2024 provides an exit opportunity
We also seek advisors & connections in:
● Impact investment
● Lending operations at scale
● Marketing
13/13

Together we can empower the most talented students in developing countries, so
instead of subsistence farmers or servers in the tourism industry, they get the chance
to become our future leaders in science, engineering, medicine and business.
The future is bright. Be part of it.

Invest in the degrees of high potential students in emerging markets.

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Invest in the degrees of high potential students in emerging markets.