London-based wealth management and advisory firm Stanhope Capital Group has launched a new fund of funds vehicle, Stanhope FFT Global Ventures, dedicated to investing in a concentrated group of top-performing US venture funds.
The new vehicle’s structure also gives its clients the option to co-invest directly into mid- and late-stage tech businesses held by these venture funds and other top investors.
The launch comes on the heels of Stanhope Capital Group’s February merger with FMW Holdings, owner of Forbes Family Trust, providing the firm with expanded capabilities.
Part of the rationale behind the merger “was bringing together the private markets expertise of both companies and using our combined geographic reach, scale and connectivity to offer clients access to genuinely unique opportunities,” said Daniel Pinto, chief executive of Stanhope Capital Group.
Stanhope FTT Global Ventures is partly a response to the increased competition that continues in many of the top-performing venture funds, allowing Stanhope’s clients to access these exclusive managers that are typically over-subscribed in their existing relationships.
The firm also predicts an uptick in private markets tech valuations, which is already underway in the public markets.
“Public markets have witnessed a level of correction in tech valuations, but this correction has not yet filtered into private markets,” Pinto said.
“When it eventually does, the most capable venture capital funds will outperform, due to their long experience, the underlying quality of their existing portfolios and their ability to continue to deploy into the most exciting next-generation companies.”
Stanhope Capital Group began in 2004 and has over $24 billion in AUM.