Especially the following criteria are emphasized before making an investment:

• Committed, credible and capable management team

• Credibility of the business plan including technology and products

• Market potential

• VNT Management value-adding potential

• Investment terms and valuation

• Exit plan

Power Fund I and Power Fund II are European Clean Technology funds. The yield target of the funds are at least 25% IRR p.a. Power Fund I has invested in eight companies. Power Fund II will make investments in 12-15 target companies.

The investments are made focusing on the Clean Tech industry. The special focus is on the renewable and distributed power generation and energy saving technologies in electrical and power electronics applications. No more that 35% of the investments can be placed outside the Clean Tech sector for reducing risks. Investments in security markets, real estate investing and investments in the listed companies are totally out of the scope.

The investments of Power Fund II will be made in Europe. Investments in other geographical areas require a special decision by the Investor Committee. The fund will normally be a minority shareholder in the target companies and VNT Management Team will take at least one seat in the board.