Venture capital and private equity as two different asset classes
This time we focus on the fact that VC and PE in Denmark are often considered one asset class.
In contrast, in the US, for example, the so-called 'Endowments', often referred to as some of the world's most sophisticated investors, see the two as separate asset classes.
Posts from:
Jan Johan Kühl- Partner, Polaris
Peter Garnry- Head of Equity Strategy, Saxo Bank
Michael Wolff Jensen- CEO and former Chairman, Ascendis Pharma and former CFO of Genmab
DKK 750,000 is the legal minimum amount to invest in this type of fund. This is a requirement to ensure that investors are qualified and understand the level of risk.
No, you are free to choose to invest a higher amount if you wish. However, the total size of the fund is a natural limit and allocation is on a first-come, first-served basis.
Payments are made on an ongoing basis as the fund makes its investments - typically spread over 3-4 years. For example, a total investment of DKK 1 million can be distributed in instalments of DKK 250,000-350,000 annually, depending on the structure of the fund.
Payouts typically begin 1-2 years after the investment period has ended. The timing and amount depend on the fund's performance, market developments and other conditions. There is no guarantee of dividends and the investment should be viewed as long-term.
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