SharesPost Investment Management Launches SharesPost 100 Fund, a New Way to Invest in High-Growth Private Companies
-- Fund provides access to diversification within the venture capital asset class with innovative liquidity features --
SAN FRANCISCO, March 26, 2014-- SharesPost Investment Management, LLC, today announced the launch of 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.
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 Fundís 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 todayís technologies, and represent a diverse range of industries, including software, consumer Web, energy, healthcare, and more.
ďThere is immense growth happening in the private market, but average investors have not historically had access to this return potential,Ē said Sven Weber, President of SharesPost Investment Management. ďThe 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.Ē
Weber, who serves as the Fundís 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 companyís venture capital investing business, which included investments exceeding $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.
ďWe are extremely excited about the opportunity to distribute such a unique, high quality investment solution,Ē said Jim Kries, president and managing partner of BIC Group. ďMaking 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.Ē
The SharesPost 100 Fund features a low minimum investment of $2,500 and offers a limited quarterly liquidity option that enables investors to redeem up to 5 percent of the outstanding Fund shares at net asset value.
The Fund can be accessed through SharesPost Financial Corporation and other participating broker-dealers. SharesPost Financial Corporation is a member of FINRA and SIPC. For more information, visit www.sharespost.com. To learn more, investors can access Fund information, including the Fundís prospectus, at www.sharespost100fund.com.
About SharesPost Investment Management
SharesPost Investment Management (SPIM) manages a portfolio of funds that invest in leading private venture-backed late-stage growth companies. As private companies take much longer to go public than those of years past, considerable value appreciation is taking place outside of the public equity markets. SPIM helps investors who are looking to further diversify their overall asset allocation take advantage of private market returns. The SPIM team has exceptional Venture Capital knowledge and performs deep company and industry analysis to execute against differentiated and targeted fund strategies. For more information, visit http://sharespost.com/investment-management/overview.
BIC Group, LLC, a registered Broker-Dealer and FINRA member, is a multi-boutique, active distribution sales firm who employs a national wholesaling team designed to raise substantial assets on behalf of represented asset management companies. The Firm distributes both open-end and closed-end mutual funds to retail and institutional advisors through a nationwide network of intermediary relationships. The Firm represents a distinctive partnership of boutique investment managers recognized for their individual investment styles, autonomous investment processes and unique brand identities. With sales and distribution experience across the spectrum of asset classes, BIC Group, LLC has established itself as a superior outsourced sales and distribution network. BIC Group, LLC has demonstrated a strong record of success in an increasingly complex and competitive investment environment. The Firmís founding partners and national sales team are well-respected investment professionals with collective experience across the spectrum of alternative investments and traditional asset management.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about the Fund, please call 800-838-4780 or visit our website at www.sharespost100fund.com. Read the prospectus carefully before investing.
All investing involves risk including the possible loss of principal. The Fund primarily invests in securities of private, late-stage, growth companies. There are significant potential risks relating to investing in securities traded on private secondary marketplaces. Because these securities are generally not publicly traded, there will be uncertainty regarding the fair market value of the Fundís investments, which could adversely affect the determination of NAV. Due to transfer restrictions and the illiquid nature of the Fundís investments, we may not be able to purchase or sell our investments when we wish to do so. There are significant potential risks associated with investing in venture capital and private equity-backed companies with complex capital structures. The Fundís investments may be concentrated in a limited number of securities, which could subject it to greater risk than that of a more diversified portfolio. There may be a greater concentration in technology securities that could adversely affect the Fundís performance. Investments in foreign companies may involve significant risks in addition to the risks inherent in U.S. investments. If the Fund does not have at least 500 Members for an entire taxable year, you could receive an adverse tax treatment. The Fundís limited quarterly repurchase policy may require the Fund to liquidate portfolio holdings earlier than the Investment Adviser would otherwise do so, and may also result in an increase in the Fundís expense ratio; the program in any event is limited to 5% of the Fundís outstanding shares each quarter. This is not a complete enumeration of the Fundís risks. Please see the prospectus for additional details.
Foreside Fund Services, LLC, Distributor
Jeremiah Hall, 415-349-5106
Venture Capital Database