Perennial Value’s small and microcaps team is taking stakes in six unlisted companies to coincide with the launch of its new pre-IPO and private raisings fund.
Street Talk understands Perennial will lead a funding round for Nutricare, a producer of bamboo-based, plastic-free wound care protection products, doubling down on its earlier investment in the company.
“Following the success of our investment last year, we’re providing further expansion capital to help the company continue its rapid growth,” Perennial’s head of smaller companies and microcaps Andrew Smith told Street Talk.
Other names on Perennial’s hit list include tenant experience software company Equiem and low dose x-ray business Lumitron which was born out of the California-based Lawrence Livermore National Laboratory.
The picks come as Perennial beats the drum for its new Private to Public Opportunities Fund. It is understood the fund has raised $50 million from wholesale investors and will close next week.
“High net wealth and family office investors recognise that there’s a gap in the market for opportunities to invest in early-stage companies requiring growth capital, Perennial Value managing director John Murray said.
The new fund is based on the same strategy as the Perennial Value Microcap Opportunities Trust which is hard closed at about $200 million. The fund has returned 30.4 per cent a year net of fees since it was set up.