SharesPost Investment Management has launched the SharesPost 100 Fund, an actively managed, closed-end interval fund that targets a diversified portfolio of private, late-stage, growth companies.
The Fund enables investors large and small to diversify within the venture capital asset class and capture the growth potential of these companies.
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As companies stay private longer, significant portions of their value appreciation occur during the private stage of their development. The SharesPost 100 Fund targets investments in maturing companies with solid growth records that are expected to enter the public markets within two to three years.
The Fund’s target universe is primarily the SharesPost 100, a list of fast growing, late-stage venture-backed companies that considers several factors, including revenue growth, market potential, and investor profile.
SharesPost 100 companies leverage today’s technologies, and represent a diverse range of industries, including software, consumer Web, energy, healthcare, and more.
Sven Weber, president of SharesPost Investment Management, said: "There is immense growth happening in the private market, but average investors have not historically had access to this return potential. The SharesPost 100 Fund not only provides access to private growth companies, but also to quarterly liquidity windows that are a vast improvement over the current state of play for private securities."
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By GlobalDataWeber, who serves as the Fund’s portfolio manager, has an extensive track record working within the private markets. Before joining SharesPost, Weber served as president of SVB Capital at Silicon Valley Bank, where he managed the company’s venture capital investing business, which included investments exceeding US$1.5 billion. He also managed secondary investments at Cipio Partners and direct investments for Siemens.
To help raise assets for the Fund, SharesPost has partnered with BIC Group LLC, a leading third-party distribution firm.
Kries, president and managing partner of BIC Group, said: "We are extremely excited about the opportunity to distribute such a unique, high quality investment solution. Making late-stage venture-capital investments available to mutual fund investors with a brand as powerful as SharesPost will be very appealing to our financial advisor clients. This will be a terrific opportunity for wealth advisors to access an asset class that has traditionally been reserved for hedge fund investors. This is a big victory for retail investors and very exciting for BIC Group."
The SharesPost 100 Fund features a low minimum investment of US$2,500 and offers a limited quarterly liquidity option that enables investors to redeem up to 5% of the outstanding Fund shares at net asset value.
