July 19, 2023
SC Giano Capital of Geneva ,Switzerland has announced that they are launching a 50 Million euros Later Stage Fund targeting the European market. Founded by serial entrepreneur Alberto Chalon and Andreas Wiele, who is from a media and tech executive background, the fund is proposed to be invested in the European tech and digital space. Giano Capital is Driven by the mission to bring liquidity to the Secondary market in Europe and so is the decision is to set up a single asset Late Stage Fund secondary investment fund.
The Single Asset Late Stage Secondary Fund is an innovative addition to venture capital investing in Europe. It serves as a structured solution to fulfill the liquidity needs of current shareholders, while also creating investment opportunities for new investors who were previously unable to access privately held companies.
The plan is to invest in up to 15 companies, primarily in Europe with ticket sizes ranging from €2 million to €25 million, including co-investments. These co-investments will be offered to their Limited Partners to maximize returns.
In 2023, Giano Capital intends to make at least three additional investments in fast-growing market-leading companies in the European tech and digital sector.
According to Alberto Chalon, a Founding Partner at Giano Capital, they believe that the Secondary Market will become a new growth market between early-stage private companies and the public markets. Their goal is to establish Giano Capital as a significant player in this space.
The Swiss venture capital firm has made its inaugural investment in Finn.com, a car subscription platform operating in Germany and the US. Finn.com aims to redefine traditional car ownership by providing a seamless e-commerce experience for purchasing new cars. Their goal is to simplify the process of driving a car to be as effortless as online shopping. The company offers flexible subscription models for new cars, which are conveniently delivered within a few days at no additional cost.
In order to be considered, companies must meet specific criteria set by Giano Capital. These criteria include having an exceptional founder team that has achieved a minimum of €30 million in revenues, an annual growth rate of at least 30%, and a clear roadmap to profitability and positive cash flow. Additionally, the companies should be supported by top-tier investors and possess the financial resources necessary to pursue an exit strategy within two to four years.
Giano Capital emphasizes that their stringent criteria are crucial for several reasons. Firstly, it enables them to limit the duration of their fund-life to five years, which is half the time typically seen in traditional 10-year funds. Secondly, this approach allows them to target an Internal Rate of Return (IRR) greater than 25%.
photo source: google
Delino Gayweh
Serrari Financial Analyst
