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EVENT -

Hardman & Co November Investor Forum – Registration open now

Why Invest

Positives

  • Strategy:  Exposure to a portfolio of technology companies that have achieved product-market fit and are starting to scale up.

Issues

  • Track record:  As a new fund from a new team within Blackfinch, there is no track record.

The Investment Manager

Positives

  • Team:  There is a diverse range of experience in the team, with a clear strategy and well-designed processes.

Issues

  • Team size:  The investment team is small, although the angel network is very active and, overall, is adequate for current activity levels.

Nuts & Bolts

  • Duration: The Fund is evergreen, with investors participating in transactions on an ongoing basis after investment.
  • Diversification: The manager expects to provide at least 10 investments to each investor.
  • Valuation:  Usually changes at next financing or on writedown.

Specific Issues

  • Fees: Combination of direct fees and company charges.
  • Performance fee:  Charged at 20% on aggregate returns over 130% of amount invested in companies on a per company basis.

Risks

  •  Target returns: The target IRR of 3x capital suggests a high-risk investment strategy.
  • Companies: Supplying risk capital to early-stage technology companies at the start of commercialisation. There will be a spread of company returns, as the successful ones will do very well, but those who fail may do so completely.
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If you'd like to be introduced to the team at Blackfinch Investments (Fund), get in touch.

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