About Vencorp
Senior Partners
Advisory Board

About Vencorp
Vencorp Partners is a Private Equity firm investing in innovative European companies standing to benefit from the forthcoming demographic changes.
In 2005, Vencorp Partners launched an inaugural fund, established as a Luxembourg incorporated and regulated SICAR (Société d'Investissement en Capital à Risque).
Ageing Population. The Vencorp Fund is unique in its exclusive investment focus on this problematic.


The Fundamentals:

Changing Patterns. The Vencorp Fund targets emerging companies which stand to benefit from market opportunities created by the long term problematic of an ageing European population.

Countries. The Vencorp Fund invests in Western Europe, including Switzerland and may also target Central European opportunities.

Sectors. The Vencorp Fund’s portfolio companies are active in the fields of financial services, medical devices and health services. Investment focus areas also include security, specialized consumer products / services, and software providing solutions consistent with Vencorp’s investment themes.


INVESTMENT Philosophy

The Investment Manager of the SICAR identified one major immediate challenge for European economies, namely the ageing population. This is a phenomenon affecting most industrialised nations, and European economies in particular. As such, Vencorp believes that today’s demographic trends will deeply impact Europe’s markets and business landscape. The SICAR intends to capitalize on the forthcoming changing demographic patterns by targeting investments in emerging companies which stand to benefit from market opportunities created by this long term trend of an ageing European population.

Finance: increased life expectancy, adverse trends between the active and retired population and the consequent structural imbalances between retirement schemes’ assets and liabilities already call for new solutions from the financial sector, including in the areas of asset management, real estate financing, insurance, retirement planning, financial advisory and others. These challenges establish the field for Vencorp’s investment opportunities.

Medical: (Medical Devices, Healthcare Solutions and Healthy Living.) An ageing population coupled with increasing cost and performance pressure on public health systems will continue to impact the industry over the coming years.

Security: (Equipment, services, security focused IT and software solutions). Globalisation together with increasing social and political pressures bring about new challenges to the population as a whole and senior citizens in particular. At Vencorp, we believe that the increasing prevalence of security issues is a long term trend. The relative allocations for security purposes in budgets of industrialised countries and the needs for innovative solutions are growing.


INVESTMENT Policy

Within the limits of these broad sectors, we continuously screens small and medium sized European companies with solid track records and promising growth opportunities.

VENCORP PARTNERS acquires shareholdings principally in small and medium sized, established companies, active in Vencorp’s designated market segments.

VENCORP PARTNERS seeks investments in companies whose management teams are judged by the Investment Manager to have integrity, relevant experience and who are prepared to work openly with external investors. Vencorp seeks to ensure that the management teams of investee companies are properly motivated and committed to the future success of the business. We ensure that Management teams’ interests are strictly aligned with the external investors objectives.

VENCORP PARTNERS is an active and patient investor. We seek board representation in most instances and actively participate to the growth of portfolio companies.

VENCORP PARTNERS focuses on completing investments in companies: (i) seeking to raise capital for the expansion of operations - typically Vencorp will hold a minority shareholding in these investments; but also, (ii) in which a majority shareholding can be acquired from a larger business group or a controlling family shareholder.


VENCORP PARTNERS tends to lead transactions wherever possible and takes responsibility for the arrangement of the funding requirements of each investment. However, where appropriate, Vencorp will also participate in investments arranged by other institutions.


INVESTMENT Criteria

Market Segments /
Country
Management Negotiation
Terms
Products /
Services
Matrix Milestones /
Synergies
Cost vs.
Future Value
Vencorp's
Added Value
Expected
return
Exit strategy
8 fundamental criteria drive the investment decision process



-Clearly defined market opportunities; products, services and solutions addressing large, growing needs of strategic market segments.

-Companies which have the potential to be leaders in their market segments owing to their competitive differentiation in terms of products, services, operations, technologies, distribution.

-Companies with exceptional marketing abilities, able to build strong brands in their segments, leading to high market shares, high margins and customer loyalty.

-Skilled Management with a track record of meeting challenges, while observing the highest standards of integrity and corporate governance.




INVESTMENT Instruments

VENCORP PARTNERS's investment instruments may include, inter alia, ordinary and preferred shares (which may carry redemption, conversion and other preferential rights), share purchase rights, as well as debt instruments.
On an ancillary basis, VENCORP PARTNERS may also invest in listed securities.