Semaphore Annual Confidence Survey

Semaphore is conducting its 15th annual confidence survey of Private Equity, Venture Capital and Hedge Fund partners, principals and professionals supporting the industry. The purpose of this survey is to gather input from our industry friends and clients with the results to be published in the Semaphore Reporter, as well as to the subscribers of Fortune's Term Sheet. We look forward to the deal making that you expect in calendar year 2023, as well as your general confidence about the upcoming year across multiple subjects of interest.

The survey will take 3 - 4 minutes and respondent identity will not be reported to us.

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* 1. Choose one of the following descriptions that best represents you:

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* 2. What is your gender identification?

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* 3. In 2022, what were the top three industries/sectors in which you made or
worked on deals?

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* 4. In 2023, what are the top three industries/sectors in which you expect to make or
work on deals?

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* 5. Please rate your confidence in the following for 2023:

  Not Confident Neutral Confident
The national economy
The international economy
My own business
My industry
My principal competitor(s) business

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* 6. Please rate your confidence in the following:

  Not Confident Neutral Confident
Myself
My CEO, Managing Partner, etc.
My principal competitor(s) CEO, Managing Partner, etc.
President Biden
The Biden Economic Team
The Republican US House
The Democratic US Senate
The US Congress
US National Tax and Spending Policy
My State's Governor/Legislature
My National Government (if other than US)

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* 7. In 2022 I earned:

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* 8. In 2023 I expect to personally earn (in comparison to 2022):

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* 9. Should currently favorable tax treatment of Carried Interest income be eliminated in 2023?

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* 10. Did COVID-19  negatively influence your business activities in 2022?

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* 11. Will COVID-19  negatively influence your business activities in 2023?

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* 12. Should "Big Tech" platforms such as Amazon, Facebook and Google parent Alphabet be broken-up?

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* 13. Does sexual misconduct, harassment and gender bias remain a problem in our industry?

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* 14. Is structural racism an inherent problem in our industry?

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* 15. Is the VC/managed investment community at all responsible for the FTX implosion?

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* 16. Please tell us where you live.

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* 17. Please provide any commentary on our industry or interest you think appropriate.

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