The company model
Designed for early stage tech investment
By way of a very company centric approach to shareholder rights, the Model provides liquidity for the shareholders, which is independent of the liquidity in the underlying portfolio companies, not something achieved with a typical Venture Fund structure.
By creating an evergreen approach to investing we ensure that exit proceeds are re-invested, reducing the demands on capital to make future investments. Naturally this minimises the amount of capital taken on from the beginning, reduces the need for further raises and minimises the dilution effect for BVH shareholders.
Third and finally
For the portfolio company the Model creates a funding environment that is as free as possible from the pressure and value destruction that an artificial exit deadline (typical of a fund) creates, not only on the company but also on the value of the portfolio as a whole.
Traditional company structure
- Sell equity to raise capital
- Focus on costs and profit
- Governed by a board of directors
Strong stakeholder alignment
- Everyone focused on building value
- Long-term approach to investing
Flexible shareholder returns
- Dividend distributions
- Potential share buybacks
- Share sale post listing
Increased autonomy for investors
- Future participation decisions reside with shareholders
- Flexible liquidity post IPO
- Co-investment facility