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New Managers October 2019

PROFILES: SAVA Investment Management launches hybrid private equity/digital assets fund

 

A new fund is coming to market that offers a hybrid structure giving investors access to private equity and digital tokens. SAVA Investment Management has launched a Healthcare Blockchain Fund. Investors in the private equity style vehicle will be able to take part in early investment rounds of healthcare companies and will be able to participate in digital token sales for those companies. The fund is operating on a threeyear time horizon after which time it will exit its investments via IPO. Pancho Vanhees, Managing Partner at SAVA Investment Management tells Opalesque New Managers that the fund grew out of his background in the digital assets space. By combining a private equity vehicle with the digital token opportunity, investors are given access to a bigger piece of the early-stage growth of companies in the fund's portfolio. SAVA has also created a proprietary digital

token order execution system. "The bots that I am using to purchase the tokens are designed to ensure that I get the best order rate," Vanhees said. Vanhees is interested in healthcare as an industry because of the strong demand from consumers. "We think these are some of the only tokens that have a clear use case," he explains. Investors in the strategy will have to invest in the private equity vehicle before they gain access to the tokens offered by the healthcare companies. From there, token sales can be managed through a trading desk. According to Vanhees, the healthcare companies he's targeting for investment are rigorously vetted in an effort to guard against bad tokens. "Most healthcare blockchain opportunities right now offer the ability to sell or store data on the blockchain, we want to create a full service platform," he said. The fund is targeting $50 million. At that size, Vanhees expects that the fund will appeal most to family offices and ultra high net worth investors. The three-year investment period, which is relatively short compare......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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