In September 2021, Gresham House announced the intention to buy Mobeus and add their four VCTs to its existing Baronsmead VCTs. Bevan Duncan returns to the podcast to discuss the deal and its rationale. We cover the strategic reasoning as well as how they chose a manager. We dig a bit into the diligence, including how they assessed past performance. As a deal that is about growing rather than cost savings, we also discuss how the new company will operate and what opportunities it may bring.
With some recent VCT fundraisings flying off the shelves, we also chat about the current state of the market. We chat about investor demand for VCTs and also dig into how the market is developing for VCTs making investments and how the strong liquidity at later stages is filtering down.
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Bevan Duncan is Managing Director, Strategic Equity. He joined Gresham House in November 2018, having been at Livingbridge since 2006. Bevan has overall responsibility for all portfolio management activities for the Baronsmead VCTs. He also directly manages portfolio investments and has been an active board member of several Baronsmead investee companies including MLS, Eque2, Key Travel and Pho. He qualified as a Chartered Accountant at KPMG in New Zealand, where he provided consultancy services to fast-growing small businesses.
Gresham House website: https://greshamhouse.com/
Gresham House VCTs website: https://greshamhouse.com/venture-capital-trusts/
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Disclaimer
Please note this podcast/interview does not constitute a financial promotion and is provided for informational purposes and should not be construed as an invitation or offer to buy or sell any investments. Please be aware that investments into unquoted companies are high risk, long term and illiquid investments. Your capital is at risk. Past performance is not a reliable indicator of future performance. Target returns are not guaranteed and forward looking statements are illustrative only and must not be relied upon. Investors should only invest on the basis of reading the full offer documentation. Listeners must make their own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein.
