Happy Holidays to all of our friends, families, portfolio company teams and investors! 2024 proved to be a year of "the turning tide" as we saw a shift to a more favorable venture market, increased portfolio exit activity and a positive outlook headed into 2025. After a very challenging macroeconomic environment for venture in 2022 and 2023, it was refreshing to see some favorable winds blowing in the latter part of 2024. Serra was able to experience four successful exits while also seeing a number of portfolio companies enter or prepare to enter the M&A process. As we close the door on 2024, we are eager to welcome the New Year! Cheers to 2025!

The month of December brought a new tradition for Serra. Instead of holding our annual Limited Partner meeting in late October/November, the team at Serra opted to host five virtual meetings in December, each pertaining to a different fund(s). The idea behind the change was to allow LPs access to their respective fund and to review additional funds if they had the time. Partners still were able to get highlights on exits, a performance review and look at the potential future of the funds, and a CEO presentation for each meeting. It was a great success! A big thank you to all of the LPs that were able to attend. Meeting materials and video recordings are available in your LP Portal -- or contact us for assistance.

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• iUNU Removing Human Error from Tomato Growing

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• Vytelle Experiences Three Year Growth Despite Challenges in Cattle Market