ADVISORY BUSINESS
A. Description of the Advisory Firm
Samsara is a Delaware limited liability company that commenced operations in 2016 and has a
principal place of business in Palo Alto, CA.
Samsara’s founder and managing member is Srinivas “Srini” Akkaraju, MD, PhD.
B. Types of Advisory Services
Samsara provides discretionary investment advisory services to Samsara BioCapital, L.P., a
private investment vehicle organized as a Delaware limited partnership (“Samsara LP), SMSR
B1, L.P., a private investment vehicle formed in the Cayman Islands that serves as a feeder fund
to Samsara LP (“SMSR B1”) and 565 SPV I, L.P., a private investment vehicle organized as a
Delaware limited partnership (“565 SPV I” and together with Samsara LP and SMSR B1, the
“Funds”). An affiliate of Samsara, Samsara BioCapital GP, LLC (“Samsara GP”) serves as the
general partner of Samsara LP. An affiliate of Samsara, 565 SPV GP I, LLC (“SPV GP I”)
serves as the general partner of 565 SPV I, and SMSR B1 GP, LLC serves as the general partner
of SMSR B1 (“SMSR B1 GP”) and together with Samsara GP and SPV GP I, the “GP Entities”).
Samsara GP, SMSR B1 GP and SPV GP I are related persons of Samsara.
Samsara is a venture capital firm which primarily provides investment advice on and manages
investments in public and private securities and related assets and revenue streams of life sciences
and health care companies (“Portfolio Companies”). These securities include but are not limited
to: (1) equity securities; (2) warrants; (3) corporate debt securities, including convertible bonds;
(4) options; (5) money market funds; and (6) private “non-public” investment opportunities.
The activities of the Funds are governed by their limited partnership agreements, which specifies
the investment guidelines and investment restrictions applicable to the Fund, and other offering
documents (collectively, the “Governing Documents”) provided to the investors in the Funds (the
“Investors”). Samsara manages the Funds’ investments pursuant to the Governing Document.
The GP Entities retain management authority over the business and affairs of the Funds, but
delegate their investment discretion to Samsara.
Samsara offers investment advice solely with respect to the investments made by the Funds. Such
services consist of investigating, identifying, and evaluating investment opportunities, structuring,
negotiating, and making investments on behalf of the Funds, managing
and monitoring the
performance of such investments, and disposing of such investments.
In the future, Samsara may establish co-investment vehicles and may offer investments in the co-
investment vehicles to certain Investors of Samsara LP at the discretion of Samsara GP. There is no
guarantee for any Investor in the Fund that it will be offered such co-investment opportunities. All
decisions regarding whether and to whom to offer co-investment opportunities are made in the sole
discretion of Samsara and/or Samsara GP subject to any restrictions contained in the Governing
Documents of the Funds.
C. Client Investment Objectives and Restrictions
Samsara generally has broad and flexible investment authority with respect to the Funds. The Funds’
investment objectives and strategies are set forth in the Funds’ Governing Documents. All Investors are
provided with limited partnership agreement and other offering documents prior to making an investment.
Investors are urged to carefully review those documents prior to making an investment in a Fund.
Samsara tailors its investment advice to the Funds in accordance with the Funds’ investment objectives,
guidelines, restrictions and strategy as set forth in the Governing Documents. Samsara does not tailor its
advisory services to the individual needs of Investors. Since Samsara does not provide individualized
advice to Investors, Investors must consider whether a particular Fund meets their investment objectives
and risk tolerance prior to investing.
Samsara and the GP Entities have entered into side letter agreements with certain Investors. Side letters
are negotiated prior to investment and may establish rights that supplement or alter the terms of the
Governing Documents. Pursuant to such side letters, Samsara, or the GP Entities, have granted rights to
certain Investors which are generally not available to other Investors (including without limitation,
advisory committee representation, certain transparency rights, reporting rights, and confidentiality).
Once invested in a Fund, Investors generally cannot impose additional investment guidelines, restrictions
or other requirements on the Fund.
D. Wrap Fee Programs
Samsara does not participate in wrap fee programs.
E. Assets Under Management
As of December 31, 2023, Samsara had $1,622,845,390 in regulatory assets under management on a
discretionary basis. Samsara does not currently manage any client assets on a non-discretionary basis.