Nils Bennemann

Over the past few weeks since the launch of Jefferson Capital Partners, many have asked about the meaning behind the 'Growth' in our name. Our latest article "Why JCP 'Growth'?" dives into the core reasons for this. Personally, helping companies accelerate their growth trajectory and achieve ambitious goals is what drives Bailey and I each day. We're passionate about empowering founders with the strategic guidance, resources, and expertise they need to unlock their full potential. That's why 'Growth' is paramount to our mission and shapes every aspect of how we partner with ventures. I'm excited to share this article that encapsulates the JCP Growth philosophy. For us, it's about fostering collaborative, trusted relationships focused on driving sustainable growth and shared success.

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“About every ten years we face some financial crisis or reckoning, during which around 20% of the GPs fail to re-raise another fund” per Bain & Co’s private equity practice. Investors are growing restless, and the increasing pressure to return their capital is creating a critical juncture for many general partners. Distributions, the return of capital to investors, are at their lowest in over a decade. Early data for 2024 suggests a bleak outlook, with the year on track to be the second-worst for exit value since 2016. Private equity's business model depends on a continuous cycle: raising money to make acquisitions, exiting via sales or initial public offerings, and then returning capital to investors. When one part of this cycle stalls, it risks disrupting the entire system. This situation is putting a strain on pension funds, endowments, and other investors, known as limited partners. Cash-strapped, these investors are hesitant to commit to future funds without seeing current returns. And at the SuperReturn conference more general partners attended than limited partners! #privateequity #privatecapital #privatemarkets #pe #vc #growthequity #institutionalinvestor #liquidity #sponsor #limitedpartner #generalpartner #superreturn #distribution #m&a #realization

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With thanks to Private Equity International for this month’s deep dive on how #GPStakes helps to finance and drive best in class development in our industry

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Another wild day. 🙃😉🙃😉 4 new opportunities brought to our Operator Network cohort of PE, VC and Family Office clients. One is particularly interesting on a number of levels but largely because it’s a carve out of a £1bn+ Family Office portfolio…. £1.5m revenue D2C with 60% GMargin. Exceptional client list of MRR subscribers. Another opportunity involved an eco/retrofit business who have just done £1.8m revenue yr1 and growing to £8m yr2 with some cashflow finance required. There’s a £20m rev, £3m EBITDA specialist travel company raising £3m… Our vast community of Chairs and Non-Executives are plugged in to the SME deal-flow eco system. And guess what - these are largely completely “off-market”. Find out more at https://lnkd.in/eha-9Zxq #DealDirect #Virtualnonexecs

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Great article by Kjartan on "Family Offices & Venture Capital: The shift from direct investments to partner funds" 👇🙌 🙌 🙌 This aligns well with my worldview. An additional challenge for FO direct investment is access (or lack thereof) to the right opportunities with the underlying power law dynamics and return asymmetries (I believe). https://lnkd.in/dzh_dd6t

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European family offices should allocate more to private equity! By region, family offices in North America allocate 35% of the average portfolio to private equity and 8% for hedge funds; in Latin America, 18% and 2%; in Switzerland, 18% and 3%; in the rest of Europe, 22% and 4%; in the Middle East, 27% and 5%; in North Asia, 18% and 6%; and in Southeast Asia, 19% and 5%. #familyoffice #wealthtransfer #assetallocation #investmentstrategy #investmentmanagement #privateequity #returnoninvestment #portfoliomanagement #risk #return

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Our latest article on the changing landscape of growth-stage business financing is out. As someone who's been watching the space evolve, it's interesting to see how new funding models are influencing the ecosystem. Excited to share insights from our experiences and discuss how these trends might impact future innovations.

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You will never retain great companies when your stock market is perceived as unattractive. LSE has a chronic lack of liquidity. Of the $11.9 billion raised via IPOs in Europe this year, just over 2% was in the UK—the lowest in decades, according to data compiled by Bloomberg. This compares to an average share of 31% between 2012 and 2023, the data shows.

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#orion #Sweetwater_Royalties Orion Resource Partners, a global investment firm specialising in metals and materials, has sold an 8% minority interest in Sweetwater Royalties, a private industrial minerals royalty company, to a Canadian pension fund for $100m. The transaction implies an approximately $1.9bn enterprise value for 100% of Sweetwater Royalties, with Orion retaining a 67% majority ownership share in the asset, having sold a 25% stake to Ontario Teachers’ Pension Plan in March 2023 for approximately $220m. https://lnkd.in/gkKMP3Tr

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Our view on the current venture capital markets. Curious to hear other investors' thoughts but I feel like seed stage valuation, at least in the gaming and entertainment sectors, has finally come down to the pre-covid level. Since February or March this year, we started seeing that the founders are willing to raise a $1-2m seed round at a $10m-ish valuation, not like $4-5m at $20-25m in 2022 and 2023. What are you guys seeing?

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StepStone Group, a U.S. private capital firm, closed a $3.3B fund to scoop up discounted stakes in existing venture capital funds. The new fund is 25% larger than its predecessor, which was already the industry's largest. This liquidity crunch has created opportunities for firms like StepStone to purchase fund stakes at significant discounts, averaging around 30% below net asset value over the past two years, per partner Brian Borton. Another StepStone partner, John Avirett, highlighted the "massive and growing" market opportunity, with over $1T stuck in mature venture funds as exit routes remain limited. The latest fund will enable StepStone to buy stakes from pension funds, sovereign wealth investors, family offices, and individuals. StepStone recently acquired stakes in funds managed by Andreessen Horowitz, Tiger Global, DST Global, Insight Partners, Lightspeed Partners, and Thrive Capital, according to securities filings seen by Techcrunch. Additionally, the company has also made direct startup investments, acquiring stakes in U.K. digital bank startup Monzo.

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Key themes from this Private Equity Panel - ‘Dislocation, the predominance of Private Companies (staying private for longer) , extended opportunities for ‘value capture’ in the growth stage of Portco’s - all GREAT reasons to be investing in the PE sector. Other trends discussed - new product creation such as ‘Evergreen, Open-ended’ structures, NAV Lending (on both the GP and LP side), and the growth in retail investing attracted by simplified structures. Zhuoying Xu , Maurice Gordon , Ashmi M. , Megan Malone , David DiPietro and Pete Keliuotis at #altsny in New York today.

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There are many untold success stories where PE has transformed undervalued and underperforming companies, generating substantial returns. In the UK, PE supported nearly 1,500 businesses in 2023, empowering management teams with long-term strategies and access to new markets. Unlike traditional public companies burdened by short-term profit pressures and regulatory demands, PE-backed firms focus on growth and operational improvements. This approach allows for streamlined decision-making and reinvestment in core strategies, fostering a culture of purpose and entrepreneurial innovation. PE's success lies in strategic clarity, operational focus, and a supportive partnership with management, contrasting with the constraints often faced by publicly traded companies. Read More Here: https://lnkd.in/eEnYudDj The Times Richard Harpin Branded Hospitality Ventures #hospitality #restaurants #technology #finance Noah Stern Matthew Lerner Kim Karmitz Derrek Ross Tarek M.

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Welcome ecoLocked to the Climentum Capital portfolio! We are proud to have led the €4M funding round together with Matterwave Ventures, and delighted to have existing investors Counteract, Startup Family Office, Sabancı Building Solutions, and VOYAGERS.io joining the round. The investment will support ecoLocked’s mission to revolutionize the construction industry with carbon-negative building materials. Concrete production accounts for 8% of global CO2 emissions, making innovations in this field crucial for achieving net-zero goals. ecoLocked is leading the change by converting carbon captured from biomass into functional, carbon-negative building materials. This funding will accelerate ecolocked's efforts to turn buildings into carbon sinks, scaling their innovative biochar-based solutions and enabling 1Gt carbon removal by 2040. Doerte Hirschberg Morten Halborg Stefan Maard

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James Carey, currently a partner at Next Sparc Growth Partners, provides insights into how family offices excel in strategic acquisitions within the competitive realm of mergers and acquisitions. Family offices distinguish themselves through their flexibility, personal touch, and creativity in deal-making, leveraging their own capital to structure deals with agility. Carey emphasizes that relationships with founders and entrepreneurs are pivotal in deal sourcing, underscoring the importance of trust and value creation in successful transactions. Key strategies include proactive deal sourcing through extensive networks and collaboration with top-tier firms, swift decision-making guided by experience and intuition, and rigorous due diligence based on strong rapport with sellers. Success stories range from explosive growth in minority investments to strategic exits that define success, highlighting the integral role of industry experts and operating executives throughout the M&A process. Read More Here: https://lnkd.in/gFfbGZwD Branded Hospitality Ventures Matthew Lerner #hospitality #innovation #venturecapital #MandA Noah Stern Miles Molyneaux Nathan Carmon Len Pagon

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India's early-stage startup ecosystem predominantly relies on equity as its primary, and sometimes exclusive, source of funding. However, the strategic integration of debt within a company's capital structure can significantly contribute to value enhancement and cost efficiency. In my upcoming articles, we will delve into the pivotal role of debt in fostering startup growth. Part I of this series will explore debt's function in the capital mix of early-stage startups, the factors underlying its limited adoption, its significance within capital structures, and strategies for optimizing costs to attain an ideal capital structure for startups. 3one4 Capital

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When a M&A deal attracted a lot of negative press, uncertainties over potential synergies, undeclared issues to board of directors and potential legal issues (conflict of interest) who should take responsibility? Shift the blame to financial adviser or the poor head of due diligence? Or should the CEO be made accountable? CEO from both sides? Shouldn’t regulators come in to check on this deal and demand greater transparency or just maintain silence as it attracts more capital?

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At Fortune’s Brainstorm Tech conference, an engaging discussion shed light on the evolving venture capital (VC) landscape. One of the key takeaways was the underscore of vibrant growth of the VC sector, with the number of firms soaring from 6,000 in 2013 to about 60,000 today. This surge in competition is driving VCs to innovate and refine their fundraising strategies, creating a dynamic environment for investment opportunities. Additionally, the session touched on how family offices provide flexible capital for smaller investments while emphasizing the thorough scrutiny required for larger funds. An emphasis on candid conversations among VCs and limited partners highlighted a commitment to fostering a more collaborative and forward-thinking investment community. Read More Here: https://lnkd.in/gHjJbtr3 Fortune Allie Garfinkle Branded Hospitality Ventures Hospitality Headline Newsletter #VentureCapital #Investment #hospitality #community Clara Shih Paulo Rosado #BrainstormTech Christine Moseley Rick Rose

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