We are capital providers. Our model is to partner with entrepreneurs and operators who have proprietary investment opportunities characterized by superior risk-adjusted returns. The combination of compelling opportunity and talented operator backed by our investment capital is what makes a MIRO deal. Our operating partners generally maintain day-to-day, operational control over the investment while we typically retain board and ultimate corporate governance control. We do not have an express investment “vertical” or exclusive asset-class focus. Our investment orientation is “horizontal” and ultimately driven by an analysis of the corporate finance attributes of the deal. The disciplined application of our investment principles has, over time, caused us to acquire a concentration of investments in the following three areas: real estate, finance and technology. Unlike most institutional investors, we are not exit-oriented. We are buy-and-hold investors. For us, the key post-investment milestone with respect to a real estate investment is the equity refinance horizon (full or partial). In the case of an operating company investment, the key milestone is cash-flow break even and/or financial self-sufficiency.