Star Tech NG: Dynamic Portfolio Growth Spawns New $100m Pre-IPO Tech Fund
LONDON, April 30, 2018 /PRNewswire/ --
'Tomorrow's IPOs today'
Star Tech NG Plc is pleased to announce that the dynamic US IPO market for private medium and large cap technology shares in the last month "has truly demonstrated the potential of the asset class and our investment proposition evidenced by the 'event highlights' from within our existing portfolio of 15 private holdings assembled just a year ago," says Ian Wallis Star Tech NG's co-founder. Four of the holdings have generated returns of circa 300% or 4x in these last few weeks.
- Spotify listed in New York on 3rd April 2018. Our shares were acquired less than one year ago at the equivalent price of $83 per share and were sold recently for $154.93 per share - an uplift of 80+%
- DropBox acquired a year ago at $15.35 per share successfully IPO'd on 23rd March and are trading currently at circa $30 representing an uplift of 95%
- Zuora Inc. (acquired on 8th June 2017) at $3.15 IPO'd on 12th April at $14 and is currently trading at $19.61 representing an uplift of 520+% in less than one year
- DocuSign's IPO last Friday, 27th April, was priced at $29, a substantial premium over our cost of $16, and closed the day at $39.73.
Overall our portfolio is valued over 100% higher than our investment cost this time last year in constant currency terms and includes holdings in such other well-known companies as Pinterest, Palantir, Lyft, SoFi and Wish.
Our Guernsey-licensed investment adviser, a joint venture with Manhattan Venture Partners, a US merchant bank focussed exclusively on institutional quality direct secondary transactions in venture-backed private tech companies, will shortly be launching Europe's first non-private fund investing in globally renowned privately-held tech disrupters such as Airbnb at the scale up and pre-IPO stage. First close is expected to be in June.
The managers will be very pleased to discuss this opportunity with potential HNW and professional investors and will offer co-investment rights on a pro-rata basis to investors in the fund if there is an excess in an investment's supply.
For further information contact:
Ian Wallis, Director
[email protected]
Malcolm Burne, Director
[email protected]
Veronika Oswald, Corporate Development
[email protected]
Tel: +44(0)207-469-0937
SOURCE Star Tech NG Plc
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