Pre-IPO investing

Froggitt2

What "funds" can be bought by retail investors that consist mainly of private/pre-IPO companies? Primarily in new technologies across all sectors, eg agri-tech, bio-tech, energy-tech. Yes I know they would be high risk. TYIA

Prism

I use Chrysalis Investments Limited which is run by ex-Merian small and mid cap managers and the Schiehallion Fund which is the Baillie Gifford pre-IPO trust. Very happy with returns so far on Chrysalis and the Schiehallion Fund is a fairly new position for me.

Chrysalis Investments Limited - United Kingdom (merian.com)
About the Schiehallion Fund | Key Documents and Fund Information (bailliegifford.com)

Froggitt2

Prism said:

I use Chrysalis Investments Limited which is run by ex-Merian small and mid cap managers and the Schiehallion Fund which is the Baillie Gifford pre-IPO trust. Very happy with returns so far on Chrysalis and the Schiehallion Fund is a fairly new position for me.

Chrysalis Investments Limited - United Kingdom (merian.com)
About the Schiehallion Fund | Key Documents and Fund Information (bailliegifford.com)

Thanks.
The Schiehallion fund looks like large companies, eg Airbnb, Bytedance,. I'm looking for the size below those where there is probably more value..
Merian, which fund are you in

Froggitt2

Ah I've found it now, Need to ignore the top menu!!! Again, very large companies. 

Prism

Froggitt2 said:

Ah I've found it now, Need to ignore the top menu!!! Again, very large companies. 

Yes some of them are pretty large but the majority are around the few £bn mark. Were you thinking smaller than that? Many companies are significantly delaying their IPOs compared to previous years and quite a few tend to be big enough to get straight into the main markets like the FTSE 250 or even 100. These two trusts focus on that crossover event and can stay invested after IPO. 

If you want smaller scale private equity then maybe look at HYPE or PIN which tend to look at a much wider range of private equity and venture capital but are less focused in the late stage IPO element.

coyrls

Froggitt2 said:

What "funds" can be bought by retail investors that consist mainly of private/pre-IPO companies? Primarily in new technologies across all sectors, eg agri-tech, bio-tech, energy-tech. Yes I know they would be high risk. TYIA

You probably need to start looking at Venture Capital Trusts (VCTs), if this is what you want.  There are tax benefits, to set against the high risk.

Froggitt2

Prism said:

Froggitt2 said:

Ah I've found it now, Need to ignore the top menu!!! Again, very large companies. 

Yes some of them are pretty large but the majority are around the few £bn mark. Were you thinking smaller than that? Many companies are significantly delaying their IPOs compared to previous years and quite a few tend to be big enough to get straight into the main markets like the FTSE 250 or even 100. These two trusts focus on that crossover event and can stay invested after IPO. 

If you want smaller scale private equity then maybe look at HYPE or PIN which tend to look at a much wider range of private equity and venture capital but are less focused in the late stage IPO element.

Do you have links for Hype and Pin? thanks

Froggitt2

coyrls said:

Froggitt2 said:

What "funds" can be bought by retail investors that consist mainly of private/pre-IPO companies? Primarily in new technologies across all sectors, eg agri-tech, bio-tech, energy-tech. Yes I know they would be high risk. TYIA

You probably need to start looking at Venture Capital Trusts (VCTs), if this is what you want.  There are tax benefits, to set against the high risk.

Thanks. Where would I start with VCTs?

Prism

Froggitt2 said:

Prism said:

Froggitt2 said:

Ah I've found it now, Need to ignore the top menu!!! Again, very large companies. 

Yes some of them are pretty large but the majority are around the few £bn mark. Were you thinking smaller than that? Many companies are significantly delaying their IPOs compared to previous years and quite a few tend to be big enough to get straight into the main markets like the FTSE 250 or even 100. These two trusts focus on that crossover event and can stay invested after IPO. 

If you want smaller scale private equity then maybe look at HYPE or PIN which tend to look at a much wider range of private equity and venture capital but are less focused in the late stage IPO element.

Do you have links for Hype and Pin? thanks

I mistyped, its HVPE
HarbourVest Global Private Equity (hvpe.com)
About - Pantheon International Plc (piplc.com)

coyrls

Froggitt2 said:

coyrls said:

Froggitt2 said:

What "funds" can be bought by retail investors that consist mainly of private/pre-IPO companies? Primarily in new technologies across all sectors, eg agri-tech, bio-tech, energy-tech. Yes I know they would be high risk. TYIA

You probably need to start looking at Venture Capital Trusts (VCTs), if this is what you want.  There are tax benefits, to set against the high risk.

Thanks. Where would I start with VCTs?

Sorry to sound flippant but Google?  There is an overview here: https://www.moneyadviceservice.org.uk/en/articles/venture-capital-trusts

AlanP_2

Froggitt2 said:

coyrls said:

Froggitt2 said:

What "funds" can be bought by retail investors that consist mainly of private/pre-IPO companies? Primarily in new technologies across all sectors, eg agri-tech, bio-tech, energy-tech. Yes I know they would be high risk. TYIA

You probably need to start looking at Venture Capital Trusts (VCTs), if this is what you want.  There are tax benefits, to set against the high risk.

Thanks. Where would I start with VCTs?

The AIC website has coverage and also covers PE ITs. SLPE is another candidate alongside HVPE.