TITLE: Wrestling with Unicorns


SUBTITLE: Navigating the turbulent and disruptive oceans of private capital markets.


Forthcoming book c.100 pages.


Author: Mike Henebery

Foreward: Tony Jiménez (LINKEDIN)

The book recounts the author’s experiences of founding/co-founding 4 start-ups that either achieved “Unicorn” status (Gresham PE), could have achieved that status (Palio Capital) or plan to achieve Unicorn status : Fabify.com (a b2c platform for big fashion apparel brands to liquidate overstock in a controlled way) and ExitValhalla (a b2b consultancy to SME owner managers, see this website for further background).


The main conclusions of the book :

1 private capital markets offer superior risk adjusted returns (compared to public capital markets).


2 there is a power shift to private capital markets manifested by exponential growth in the richest Family Office LPs.


3 no-one wants to “buy” the index in private capital markets, capital chases the most successful investment managers.


4 democratisation of access to private capital markets (to non C-suite workforce) is in its infancy and warrants encouragement.


5 the prevailing wisdom in private capital markets towards maturity cycle specialist funds (eg “start-up”, “scale-up”, “mature”) is potentially inferior  regards risk-returns when compared with the #MvrckCapital strategy which will facilitate access across the maturity spectrum, targeting the best management teams and business plans. 


6 Further the economic cycle will never be in synch with GP fund cycles so a GP such as #MvrckCapital with flexibility to alter the balance of PE and credit throughout the cycle is more evolved re risk returns.

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