— Appleton-based Endowment Wealth Management has launched a new private fund for large, late-stage, venture-backed startups, also known as “unicorns.”
The EWM Unicorn Technology Fund is seeking to raise $25 million. The fund is currently invested in six companies, and the fund manager plans for more as it grows.
“Our lives are increasingly being impacted by disruptive technologies. Thus, there is a stable of high-growth companies with innovative ideas providing investors with unique opportunities,” said Prateek Mehrotra, chief investment officer for EWM.
Mehrotra points to a change in the investing landscape, in which an “increasing percentage of value is being created while companies remain private longer.”
This means, he says, that investors that wait around for an initial public offering might be missing out on “a significant portion” of the growth phase of these companies.
“Current conditions, such as rising equity markets, relatively low interest rates, and a growing economy create an improved environment which we believe will facilitate more companies to debut in the public markets,” he said.
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