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Our support of the private companies that we invest in spans capitalisation, governance and access to networks.

As a trusted long-term shareholder, we support companies in structuring their share capital by leading and shaping equity financing rounds with stage-appropriate economic and voting rights. We assist with debt financing by reviewing terms and facilitating lender relationships. We support companies in preparing for an initial public offering (IPO), providing a differentiated long-term opinion on the many decisions companies must make concerning their capitalisation and governance. This support may continue once they are publicly listed through investing primary capital in IPOs and follow-on offerings.

One of the significant challenges a private company faces is building an independent-led board suitable for public markets with operationally and strategically experienced directors who can serve as mentors and advisers to the founders and management teams. We help companies in this transition by drawing on the experience and expertise of our governance specialists and by creating connections and facilitating relationships between management teams and board members of private and public companies. Additionally, we support companies on matters important to the investment case as they prepare for an IPO. This can include helping them navigate the changing disclosure requirements, consider share and voting structures, remuneration policies and prepare their IR. Over recent years, we have prepared and distributed papers to help leadership teams cover a variety of such topics, which have been well received by many of our holdings.