I thought the idea for a thread for investors in a given fund is a great idea like @loheiman did for Explorer. So here is one for the Shilling Fund investors.
Unfortunately I missed the investor call yesterday - if anyone else attended, could someone share any highlights (or lowlights) from the call?
Great idea indeed. Thanks for starting this.
Here’s my notes from the call that others may find helpful.
11/12/21 Quarterly Reporting Q3 2021
initial fund volume target 25mi was fulfilled, last fund volume update (30m Target)
Fundraising was good and they surpassed 45 million for the fund capped at 60m
No change in revised fund volume target to maintain efficacy
Revised target is 45-60m to assure expected returns are reached
What Fund intends to do is expand existing team structure
-Capital Deployment-
8 new ventures and one blockchain focused were added and one follow up investment was also completed.
New investments
Promptly - ( Healthcare consumer)
cargofive - logistics
exclusible - NFT e retailer, Net a porter
musiversal - music production 500,000 euros
DSTAK - B2B for Latam - 100,000 euros
Payze - Stripe for post Soviet Union ( Payment Structure) 127,000 euros
Coverflex - b2b marketplace for compensation for SMB’s - 200,000
Blockchain Fund - Greenfield One (New Investment) - 500K euros
Investment in Realfever NFT company ( only small exposure) Sports space
-Other Updates (Highlights) -
Content Strategy - Schilling Podcast
Published 1st version of newsletter
Co Investor Relations -Cementing co investing and getting new ones.
Portfolio Support and Media (Web Summit and Media Coverage)
They sent an email with the video recording in case you missed it.
For US investors, they said they would send the PFIC by end of March. If I get another update, I will post here.
How can I invest in this fund? The new investment amount is 500k right?
I believe the fund is now closed to new investors.
Annual meeting this year is inconveniently timed for those of us in the US. Did the proxy letter they attached to the notice make sense to anyone?
In the US, voting by proxy is as simple as filling out a web form. But this seemed like a different beast.
I noticed this as well. Last year was done at 17:00 Lisbon time, not 9:00.
Very annoying, particularly as I am (perhaps wrongly) under the impression that US investors are the most common in the fund.
On the other hand, it’s more convenient for those of us in Asia whereas last year’s was held in the middle of the night for us so maybe they’re alternating to be fair to all shareholders.
It will be interesting to see how much capital they’ve managed to invest over the last year. I don’t have much to compare the performance to. Is anyone on here who has more detailed experience of investing in a VC who can better evaluate their progress compared to benchmarks?
Yes, last time I spoke to them, they said this year they were prioritizing Asia , as last year the timings worked better for the US.