MyInvestorthe neobank backed by Andbank, El Corte Inglés, AXA and several family office, It will launch its first venture capital investment fund next Friday with Arcano Partners. The new vehicle, called Actyus Secondary Fund FCR, will be available to clients from a minimum investment of 10,000 euros and expects to achieve an annual return (or IRR) of 16%. “The investment presents a multiple of 1.7 times, which means that an investor who invests 10,000 would receive 17,000 euros over the life of the fund,” the neobank explains.
The structure of the fund adjusts to the casuistry of venture capital. This means that the money will be held captive for a period of eight years, which could be extended for another four “at the discretion of the manager,” they clarify. However, MyInvestor expects investors to recover all the capital paid between year 4 and 5 in an investment that will occur gradually during the first two years from the date of contracting.
The fund will invest in more than 300 companies with high geographic and sector diversification, with greater weight in the health and industrial sectors, and less exposure to consumption. Half of the investments are expected to be made in Europe and the other 50% in unlisted companies in the United States. It is worth clarifying that in the specific case of the fund managed by Arcano, although it is venture capital, The investment is made in the final tranche, “which shortens the maturity period” and after other funds have previously invested.
Regarding the costs for the unitholders, The transaction commission is 2% which is applied only once when contracting the fund, and an annual management fee of 2% for amounts between 10,000 and 100,000 euros, and 1.5% for higher volumes. Additionally, it will charge success commissions based on the evolution of the product.
Arcano Partners has delegated the management of the vehicle, within the management company Actyus, belonging to Andbank.