Venture Capital

We focus on franchise funds whose performance is repeatable and sustainable, and emerging fund managers who are backing the next wave of game-changing companies. Our approach achieves a balance to avoid over-diversification which may result in diluted performance and the inclusion of too few underlying funds which may result in missed winning investments in a given cycle.

Sector, Stage & Geography

In developed economies, we invest in venture capital funds pursuing information technology and, to a lesser degree, healthcare. In emerging economies, we look for managers who are best positioned to capitalize on a particular region's development themes. In our commingled fund strategies, we tend to favor managers investing smaller pools of capital in early stage companies; however, we also have experience and relationships with leading late stage venture capital managers.