Shackleton manages 4 limited partnership funds.
Shackleton Secondaries LPwas formed in 2006 and was largely invested by the end of 2008 with technology assets acquired from 3i and other vendors. Following 9 successful exits, the fund retains 8 other interests. Remaining portfolio companies include Panintelligence an award-winning BI vendor and Creditcall a leading payment services provider. Exits include the sale of lending software specialist Pancredit to Equiniti, and Tinglobal to Singapore-based Procurri.
Shackleton Secondaries II LP was established as a successor fund with £25m initially available for investment. It has seen 9 successful exits and has a remaining portfolio of 11 development capital and technology companies, including Lewmar a leading marine equipment brand, and Omprompt a supply chain automation pioneer. Exits include the sale of Nanosight to Malvern Instruments and Murley, the agricultural supplies business to a management buy-out.
In April 2014 Shackleton formed a new fund, Shackleton Secondaries 3 LP to acquire, develop and realise the assets from three underlying funds previously managed by Sigma Capital Group plc. The fund has ten investments, all based in Scotland, in companies involved in IT, food technology and energy saving. Portfolio companies include internet video specialist Exterity, aviation software developer AViIT and engineering software company DEM. The fund’s backers include leading financial, corporate and government investors.
At the same time, Shackleton assumed management of Sigma Sustainable Energies Fund II, comprising four investments in the energy sector.
Shackleton’s management team has invested in all these funds
At the heart of Shackleton’s proposition to investors is the premise: “you don’t pay for the mistakes”. We doubt whether venture investing in Europe can ever make sustainable US-style returns because it takes longer to build realisable value and because winners are typically 10x rather than 100x or more. This lower upside means you need less downside to make good overall fund returns – the best way to do that is through secondary investment.
Sir Ernest Shackleton placed an advertisement for his crew. It attracted 5000 replies for 28 places. It read:
||"Men wanted for hazardous journey. Small wages, bitter cold, long months of complete darkness, constant danger, safe return doubtful. Honour and recognition in case of success."
While venture investing is challenging, it need not be quite this risky, and we always aim to achieve a successful exit for every investee.
If you would like to hear more about Shackleton Ventures please email: firstname.lastname@example.org or call +44 (0) 01962 842621.