BCM Discovery Fund, LP and BCM Discovery Offshore Fund, Ltd

Balter Capital Management, LLC

Balter Capital Management (BCM) is the investment manager for the Fund of Hedge Funds products BCM Discovery Fund, LP and the BCM Discovery Offshore Fund, Ltd. BCM's goal is to achieve consistently strong equity-like returns while preserving capital in down markets. Our management team's inside knowledge of the hedge fund industry is what gives us a unique advantage over other Fund of Hedge Funds. We have proven our ability to identify the most talented managers and to secure capacity before their funds are discovered by large institutional investors. All funds in BCM Discovery Fund's concentrated portfolio are run by seasoned, non-BCM managers, with allocations based on non-correlated investment disciplines. Investors in the BCM Discovery Fund become our partners and are able to participate in exceptional funds that would otherwise require large initial investments and many of whom are now closed to direct investment.

The investment objective of the BCM Discovery Fund is to provide absolute performance with reduced volatility through a Fund of Hedge Funds structure that diversifies investments via non-correlating strategies, geographies, and fund sizes. The BCM Discovery Fund looks to achieve this by focusing on early to mid-stage hedge funds. Our thesis revolves around targeting our investments in funds of generally less than 3 years in age and/or less than $500MM in assets under management where we believe the best opportunity for superior absolute returns exists.

The BCM Discovery Fund offers a unique fee structure that we believe differentiates us from the tradition Fund of Hedge Funds and better meets our investors’ objectives.