Posted on Oct 22, 2014 in Perspectives
Maverick Capital Ltd., one of the oldest hedge-fund firms, plans to launch its first venture-capital fund on Jan. 1, according to investors, with hopes of raising $400 million to take stakes in young companies.
In pitching the fund at Maverick’s annual investor meeting last week, one investor said, founder Lee Ainslie III said the New York firm was seeing the best opportunities in many years for making early-stage investments in private companies.
Such deals aren’t the bread and butter of hedge funds, which typically bet on the moves of stocks and other publicly traded assets.
But Maverick, with roughly $9 billion under management, is among a growing number of Wall Street firms that are trying to get a piece of the lofty valuations being achieved by startups in Silicon Valley and elsewhere.
The Wall Street Journal
Read full article at wsj.com
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