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Credit Suisse ventures out

Credit Suisse Asset Management is to launch its first UK -based themed fund next month to invest in the US post-venture capital market.

The Global Post-Venture Capital fund will mirror CSAM&#39s existing US-based Global PVC fund. Launched four years ago, the fund invests in firms founded with venture capital which have matured into a secondary growth stage.

The new Oeic, which is still subject to FSA approval, will be managed from CSAM&#39s New York office by its 26-strong investment team which manages over $4bn (£2.86bn) of PVC securities.

Managing director Ian Chimes says: “We are launching this fund because investors have shown an appetite in the last 12 months for technology and biotech. Themed funds are becoming a lot more popular and exciting for investors.”

Plan Invest director Michael Owen says: “There are definitely some very exciting opportunities in the post-venture capital stages. Having said that, this is likely to be a higher- risk fund than some of the more conventional on the market.”

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