Stuart Simms

The 54th edition of the Alt Goes Mainstream AGM Weekly newsletter is out! The €20M soccer match. I’m still thinking about the electric scenes after attending last night’s UEFA Champions League match at Wembley Stadium between Real Madrid C.F. and Borussia Dortmund, where Real made the most of its chances and lifted the trophy with a 2-0 victory. The Champions League is the pinnacle moment in European club football. It’s why the best players in the world go to Europe — for a chance to play in the match that defines a European club’s season. It also happens to have a lot on the line for the business side of these clubs. Former Blackstone & Airbnb CFO and Founder & Managing Partner of WestCap Laurence A. Tosi said on a recent Alt Goes Mainstream podcast that “scale begets scale.” Well, in sports, that quote could be translated into “success begets success.” That’s certainly the case for clubs that advance through the stages of the Champions League. The prize for winning last night’s match? €20M. A win last night meant that Real would pocket a total cash prize of around €118.5M. A win for Dortmund would bring home €102.1M, according to Diario AS. Add €100M in additional revenues to the club’s income statement and those figures start to look incredibly meaningful. Read on for more about why the quest for Champions League glory can be so impactful for soccer clubs 👇 The AGM Weekly, brought to you by 3i Members covers: 🗂️ AGM Index, an index that tracks the leading publicly traded alternative asset managers. 🗞️ AGM News of the Week, this week covering: 📌 Institutional Investor's Michael Thrasher on how and why insurers are increasing their allocations to private markets and what it means for the future of private markets. 📌 Citywire's Alex Steger on J.P. Morgan CEO Jamie Dimon's warning call and comments on the evolving private credit landscape and Goldman Sachs's $20B raised for their senior direct-lending fund, West Street Loan Partners V. 📌 Financial Times' David Stevenson & Emma Dunkley on Hargreaves Lansdown evolution as a business and the recent bid on their business by CVC Capital Partners. 💻 Who is hiring: Senior-level positions from companies Blackstone, Apollo Global Management, Inc., iCapital, Blue Owl Capital, AltExchange, Brown Advisory, LemonEdge, Canoe Intelligence, Allocate, PitchBook. Subscribe 👇 to see the latest trends & navigate this rapidly changing landscape as alts go mainstream. https://lnkd.in/eXEbi6Nd

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“The kryptonite of private equity firms is the people. The funds themselves have got massive inertia. The only thing that can really kill them is some sort of internal civil war. And we want to make sure that we're looking at that and making sure that, to the greatest extent, we're not running that risk.” Great conversation with Jim Strang for our latest episode of Enter the Boardroom. 👉 Link in post below My three key take-aways ➕ Success can be a risk: “From the board's perspective, one of the things we're laser focused on is the manager and the individuals in the firm. And we have a sort of a hubris check. They have done nothing but go up in a straight line for 20 years, and that's not necessarily a great thing. So we're super conscious of what's going on in the heads of these people that we're working with, because we're so tied to what they do. And we want to make sure that we feel entirely comfortable that we’re happy with where they are.” ➕ Be aware of spurious accuracy in valuations: "Be aware of the spurious accuracy topic ... you're going to land on a number, and it's going to be a good number and the best number you can get to. But it's not going to be perfect because we don't sell shares, right? You cannot buy a single share in any company that we own. You can buy the company, but you can't buy a single share. And so the valuation of that company is going to be somewhat subjective." ➕ Learn to live with geopolitical risk: “There's not really much we could do because if we shut down the investment system …  that wouldn't have changed the answer. Because they would still be subject to the same level of geopolitical risk, it’s just we would have had fewer assets, but we'd still be on the same exposure … it’s completely out of our control. So what we have to do is acknowledge that it's out there and understand that we're running a little bit hotter in that area. And it's hotter than we'd feel comfortable with.” #entertheboardroom #investmenttrusts #boardofdirectors 

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The vital role that the VCT industry plays in supporting UK economic growth and job creation is highlighted in this article from the The Association of Investment Companies (AIC) #vct #vcta #venturecapital #economicgrowth

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It was fantastic to have been a panellist at today’s EntreConf and EntreConf Awards, a vibrant two-day conference for entrepreneurs and advisers. I was joined on the ‘Funding Routes’ panel by Richard Spilsbury of Link Stone Advisory, David Goodall of FW Capital and Paul Duggan of Blake Morgan LLP. Key takeaways from our discussion, which was moderated by Greg Ingham, formerly of Future Publishing LLC, included: 💰 The market is much more positive than headline figures suggest. There are lots of options out there for those seeking funding. 💰From VC and CVC (Corporate Venture Capital), to off balance sheet investments by the big strategics, as well as family offices, HNWs, debt, grants and invoice discounting, there are plenty of routes depending on what stage you are at. 💰A VC will look at your business differently to a CVC. A VC will be assessing your business plan, the expertise of the team and whether they can deliver and scale the business, as well as whether the problem/solution you are addressing is big enough to lead to scalability. They will also look at your routes to market, financial performance and quality of earnings, with recurring revenue being the nirvana. 💰 A CVC wants to see all of the above - but also where your business fits within their strategic roadmap to use their investment to accelerate their innovation. 💰Although there is a cost of raising capital to a business, the benefits of having the right investors on board is vast and a driver for turbo-charging growth. 💰When you're looking to create your target list from the universe of investors, ensure you include sector focus funds who will be targeting businesses within your industry to find the best fit. #fundingroutes #entreconf #investment #capitalraise

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TES has been recognised in the prestigious 2024 E2E Tech 100 in association with The Independent. Additionally, our founder, Brian Taylor, has been selected as one of the top 100 business tech leaders, ranking at number 13 for his significant contributions to the UK economy. This list represents the pinnacle of entrepreneurial excellence in the UK tech industry, meticulously curated with validation from respected entities like Experian and Go Live Data. Being part of the E2E Tech 100 highlights our significant business expansion and growth over the past two years. It also recognises our successful business models, which set us up for a bright future. The E2E Tech 100 celebrates the pioneering spirit of tech entrepreneurs and founders across various sectors. It showcases UK-based companies that excel in their fields, demonstrate consistent employee growth, and lead transformative business strategies. These enterprises are at the forefront of the global tech landscape, profoundly impacting and leaving a lasting impression worldwide. At TES, we remain dedicated to innovation and pushing the boundaries of technology to ensure our continued growth in the coming years. We look forward to achieving even greater success and contributing to the dynamic tech industry. Read our recent company news stories via this link: https://lnkd.in/epHrZsfZ #E2E100 #E2ETech100

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Looks like the most appropriate attendee is a clued up entrepreneur actively considering a business merger. Should be a great help in formulating the right questions to ask.

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👨‍💼 Meet John Courtney, the visionary driving Boardroom Advisors to transform businesses! 🚀 With a network of 200+ expert advisors, he empowers startups and scale-ups to conquer challenges and achieve rapid growth. 🌟 As a finalist in the Great British Entrepreneur Awards 2023, John's leadership is inspiring the UK's business landscape. 🇬🇧 Learn more about Boardroom Advisors' impact on British businesses at BoardroomAdvisors.co. #Entrepreneurship #BusinessGrowth #BoardroomAdvisors

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If you’ve ever struggled to form the business case for new HR Tech, why not register for Ciphr’s webinar below, 5th June. #HR #HRIS #HRTransformation

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🚵🏽 𝗧𝗲𝗮𝗺 𝗚𝗕 𝗺𝗼𝘂𝗻𝘁𝗮𝗶𝗻 𝗯𝗶𝗸𝗲𝗿 𝗴𝗲𝘁 𝗮 𝗽𝘂𝗻𝗰𝘁𝘂𝗿𝗲 𝘄𝗵𝗶𝗹𝘀𝘁 𝗹𝗲𝗮𝗱𝗶𝗻𝗴, 𝗳𝗮𝗹𝗹𝘀 36𝘀 𝗯𝗲𝗵𝗶𝗻𝗱 𝘁𝗵𝗲 𝗹𝗲𝗮𝗱𝗲𝗿 𝗮𝗻𝗱 𝘀𝘁𝗶𝗹𝗹 𝘄𝗶𝗻𝘀 𝗚𝗼𝗹𝗱 🥇   I love the Olympics, every 4 years there are always stories of human sacrifice alongside the rollercoaster 🎢 of emotions and fine margins as athletes compete to win gold. 🏆   💪🏽Despite the puncture, Team GB Mountain Biker Tom Pidcock showed remarkable belief and composure to work his way back through the field and win the gold medal.   😌 His support team also did not appear to be in a panic when they had to replace his front tyre as quickly as possible. There was an element of luck (sometimes we need this too) as he was close to his "pit" when he got the puncture. What is even more impressive is that the race leader was a Frenchmen who was getting incredible support from the home crowd. This has been one of the most inspiring stories so far at the Olympics outside of the more publicised stories of athletes overcoming their demons such as that of Simone Biles and Adam Peaty (also just as inspiring!)   The pressure and expectation to perform at a single event every 4 years is an achievement in itself for these athletes.   Athletes show us the required magic formula of both 👟 physical and 🧠 mental wellbeing that underpins elite performance. ❤️ The other thing to mention here is even though these are "individual" sports they are really all team sports. There team consisting with engineers, medical staff etc. and of course families; all playing their part.   So much to think about and learn from these athletes in our own careers and personal lives. Well done Tom Pidcock! 🙌🏽   🫵🏽 What Olympic 2024 stories have inspired you so far? #performance #teamGB #mentalheath #wellbeing #team #olympics

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Watch: Cerillion Technologies CEO & CFO present stellar H1 2024 interim results. Cerillion plc (LON:CER) Interim results presentation by CEO Louis Hall and CFO Andrew Dickson. The presentation covers the following key points: Company Overview: Cerillion provides mission-critical enterprise software for telecom businesses globally. Their software helps monetize network assets through customer onboarding, product creation, usage management, billing, and receivables management. They offer their solutions on a SaaS basis, differentiating themselves in a traditionally tailored solutions market. Market Size and Competition: The telecom enterprise software market (BSS/OSS) is estimated to be around $60 billion annually, with a 3.5% CAGR. Cerillion competes with large independent software vendors, network equipment vendors, smaller ISVs, and newer SaaS vendors, highlighting their competitive advantage in faster time to market and lower total cost of ownership. Barriers to Entry: Significant R&D investment, domain expertise, and credibility are crucial barriers. Cerillion’s long track record and strong customer references are vital in a market where software failure can directly impact telecom services. Financial Performance: Revenue and Profit: Revenue increased by 10% to £22.5 million, with adjusted PBT up 14% to £10.5 million. The company has a strong track record of revenue growth and high margins. Cash and Orders: Net cash increased to £26.6 million, and new orders rose by 32% to £20.2 million. The backorder value stands at £47.1 million, with a good visibility of future revenue. Recurring Revenue: The recurring revenue run rate is £15 million, reflecting managed services and support maintenance. Dividends: Increased by 21% to 4 pence per share, demonstrating confidence in financial stability. Operational Highlights: R&D Investment: 6,000 man-days spent on R&D focused on AI support for product creation and business processes, digital experience tools, and AI-enhanced software development. Geographical Expansion: New subsidiaries in Bulgaria and Singapore, with increased staff presence in North America, Central Europe, and Asia Pacific contributing to pipeline growth. Project Completions: Successful project completions in Seychelles and Suriname. Outlook: The company is optimistic about future growth, with a record pipeline of new customer logos and strong market demand for SaaS offerings. They expect to continue meeting market expectations with a strong balance sheet and robust operational strategies. #Cerillion #Telecoms #Network #CRM #BillingSolutions #CloudBilling #Saas #Solutions #Investing #BSS #OSS #DigitalTransformation #GenAI #TelecomsTrends #Investing #Results #presentation

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Instinct Digital Raises £5 Million in Funding to Close the Gap Between Customer Expectations and Current Asset Management Communication Offerings Read more: https://lnkd.in/d4inVCMe #InstinctDigital #Funding #fundraising #CustomerExpectations #finance #fintech #FinancialIT

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🚀 Did anyone see Roger Federer’s speech at Dartmouths graduation? Roger Federer, one of the GOATs 🐐🎾, knows a thing or two about what it takes to be gritty. I just watched his commencement speech from the other day and loved his powerful insights on the importance of grit and character. "Yes, talent matters. But talent has a broad definition. Most of the time, it's not about having a gift, it's about having grit." - Roger Federer How do you hire for grit? What questions do you ask to identify candidates with resilience and perseverance? Share your thoughts below! Check out this clip - https://lnkd.in/gcMQim3A

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📊 Investing in Innovation: With the UK gearing up for the July 2024 general election, the investment landscape is evolving rapidly. In today’s discussion, Edward from West Hill Capital and I delve into the types of companies ready for investment beyond just tech. We explore the importance of innovation and unique selling points in attracting equity funding. If you’re looking to raise investment or need support within your business, book time with me: https://lnkd.in/e8Wf2TTa #StartupInvesting #Innovation #UKPolitics #Entrepreneurship

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Excellent summary as to why the UK market for IPO’s is dead and more and more UK listed companies will be acquired by higher value US Groups or taken private by US buyers. Hard to get economic growth without a credible (any) plan.

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Partnerships, Partnerships, Partnerships. At DUPR, we excel at being great partners. A rising tide lifts all boats. Why haven't rating systems gained real traction in tennis? Fragmentation. In Pickleball, we will not make the same mistakes. It’s not about being the sole platform; it’s about ensuring our network is everywhere, giving all players easy access to our rating. DUPR is the glue, the network, and the community of the sport. The key takeaway? The importance of being a good partner. That’s how you win industries. DUPR 🚀!!!!

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Running a start-up has challenges, but one of the biggest is motivation. Self-motivation is a key requirement, particularly after the rush of the first few months is over. It's also something which we should be considering with respect to AIs... https://lnkd.in/evGqQ7Se

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Revitalising 'Brand Britain' should be a priority says the Confederation of British Industry (CBI). The business group has mapped out the steps in its manifesto so the next government can redefine the UK's growth. They say the next government will need to improve the pitch for private investment with a plan for sustainable growth. Its key recommendations include a cutting-edge trade and investment strategy and unlocking the power of the UK regions. Do you agree with the points made? #manifesto #generalelection #businessgrowth

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Great to see UK Tech News covering our Technology and the Boardroom report! https://lnkd.in/ekPNAkSC A really interesting finding uncovers the boardroom’s current attitude towards working models, with nearly half (48 per cent) saying they are back to full time in-office working schedules. Interestingly, CEOs are at odds with tech leaders, with 64 per cent of CEOs leading the charge on a return to the office agenda, compared to just 42 per cent of tech leaders. There could be trouble ahead…particularly when according to a recent Poll I posted found 38% of people only want to go to the office 1 day a week!!!! - see the Poll post here https://lnkd.in/eEK94Uxn If you’d like to discuss some of the many findings in the report, please get in touch with myself or Natalie Whittlesey #techstudy #boardsurvey #insights #thoughtleadership #futureoftech #techleaders #boardroom #ctech

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