Overview

Most of our portfolio is made up of companies in which we are the leading shareholder. Alongside these companies, we have investments in two areas:

  • Financial: This is a concentrated equity portfolio of minority stakes in companies chosen based on fundamental research.
  • Seeds: These are investments in early-stage companies, through which we back talented founders, continuing our history of entrepreneurship and innovation.

Across all of our companies and investments, we apply some common criteria:

UnderstandingWe invest only when we understand

  • We learn from practitioners who bring deep knowledge
  • We form our own opinions and are aware of what we don’t know

PeopleWe back talent and look for cultural alignment

  • We believe people are what makes the difference
  • We know that behaviours are as important as skills or knowledge

ValueWe decide based on value

  • We will assess intrinsic and potential value to invest when the price is right