Shackleton manages two limited partnership funds. Shackleton Secondaries LP I, which is nearing the end of its investment period, was established in July 2006. Following purchases from 3i and other vendors, the portfolio now has 11 investments.
Shackleton Secondaries II LP Fund is a new fund established in 2007 with £25m initially available for investment. It now has a portfolio of 12 investments.
Both of Shackleton’s funds are backed by a leading European-based fund of funds investor with over €1.5bn under management. Shackleton’s management team are also investors in the funds. Our usual investment horizon is up to 5 years.
At the heart of Shackleton’s proposition to investors is the premise: “you don’t pay for the mistakes”. We doubt whether venture investing in Europe can ever make sustainable US-style returns because it takes longer to build realisable value and because winners are typically 10x rather than 100x or more. This lower upside means you need less downside to make good overall fund returns – the best way to do that is through secondary investment.
Sir Ernest Shackleton placed an advertisement for his crew. It attracted 5000 replies for 28 places. It read:
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"Men wanted for hazardous journey. Small wages, bitter cold, long months of complete darkness, constant danger, safe return doubtful. Honour and recognition in case of success." |
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Venture investing is risky. If you would like to hear more about Shackleton Ventures please email: investor@shackletonventures.com or call +44 (0) 01962 842621.
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