BCM Discovery Fund, L.P.

Class A

Fund Investment Objectives

BCM Discovery Fund L.P. was formed with the intention of achieving superior capital appreciation while managing volatility by pursuing a fund of funds investment strategy. It is the intention of the Partnership's General Partner, BCM Discovery Fund, LLC, that most of the Partnership's capital be invested in the emerging manager sector, which is loosely defined as investment managers with track records of fewer than three years and/or whose assets under management are less than $500 million. The General Partner will perform both qualitative and quantitative analyses in evaluating and selecting investment managers. The Partnership's assets will be invested in private investment funds and separate accounts managed by selected investment managers.