We had an offsite yesterday to discuss follow-on financing rounds for our fund I companies. We have 7 active investments in this fund and all will need additional funding over their lifetime. Given the weak state of the b+ round and mezzanine round markets, it is likely we will be a significant participant in the future rounds for all these investments. These are tricky investment decisions — we have large financial and emotional commitments to these firms, some of us have fiduciary responsibilities, it is difficult to make objective decisions. It was a great session — I work with great people, we had some great bonding moments. Lots of different points of view, but a good consensus about the need to examine follow on rounds very carefully, in effect viewing them as new investments. Also a lot of consensus that we are wise to have a plan and budget for each company, so that we have sufficient funds for the companies we are most excited about, and that we don’t just let our funds drain to whoever shows up first.