Pre-IPO Growth Equities
&
Direct Venture Secondaries
Overview
The Scenic team has decades of experience and has completed billions of dollars of transaction volume in pre-IPO equities of leading venture-backed companies.
We look for highly performing companies with:
- Proven Technology
- Product market fit
- Exit within 12-36 months.
Secondary is our Primary
Secondary Investments
Early Preferred Shares
Common Shares
Mispriced Odd-lots
Primary Investments
Fresh Growth Rounds
Target Segments
Target Segments
Cloud Computing
Artificial intelligence, machine learning, cloud robotics, and blockchain applications.
Space Technologies
Changes in the market landscape, technological innovations, and democratization of the industry are revolutionizing a once closed market to new entrants.
Mobility & EV
The reinvention of car ownership, Automotive channel disruption; Streamlined shipping, reengineered freight forwarding and logistics.
Fintech and Insurtech
Expanding financial inclusion; Banking for the unbanked; Streamlined loan processing; Automated claims management.
Life Sciences
Breakthroughs in science and technology, in particular genetic mapping, are unlocking societal benefits and creating tremendous value.
Consumer Technology
Experience economy and on-demand everything; Reframing entrenched value chains; Connecting consumers and businesses to products and services.
Our Investment
Portfolio Companies
Leadership
Management Team
Michael Sobel
President
Co-Founder of Scenic Advisement, a specialist Broker Dealer for the institutional private market for secondary trades of pre-IPO venture-backed equities. Launched Scenic Private Funds business in 2021. Previously the Head of Equity Trading, Fixed Income iShares and Prime Brokerage at Barclays Global Investors and BlackRock.
Peter Christiansen PhD
CIO
Headed Scenic Advisement’s research and analysis of private-market deals for the past six years. Before that, 17 years as a portfolio manager and investment researcher at Barclays Global Investors (BGI) and BlackRock, including running fundamental due diligence for IPO investments.
Mark Norbury
Investor Relations and Co-Invest
Twenty years of experience in private equity, venture capital, and family enterprises in Europe, the Middle East, and North and South America, including 17 years at HSBC and JP Morgan. Buy-side investing experience in private growth equities and sell-side advisory and financing.
Investment Selection
Our Process
01
Deal Identification
Proprietary datasets and quant process for idea-generation and deal identification.
02
Signals & Models
To gauge growth potential, growth quality, to validate quality of a price, and assess market sentinel.
03
Deep Analysis
To assess a company’s management, market opportunity, competitive positioning, business model, etc.
04
Execution
Deep experience executing private-company share transactions.
Growth Potential
Estimated revenue growth and competitive intelligence.
Business Quality
Workforce dynamics, the ability to raise capital from high-quality investors, and various proxies for quality such as market demand.
Management Quality
Executive team and board of directors experience.
Valuation
Signals to avoid overpaying based on a model of typical valuation trajectories (the “J-curve” model) and analysis of ownership of portfolio companies in other funds.
Market Sentiment
Analysis of historical valuation increases and analysis of industry-level investment flows.
Demand for Liquidity
Company maturity and nearness to IPO.
Marketability
High-focus sectors by institutional investors.
Investors
Analysis of investor quality of a company’s cap table.
Investment Considerations
Growth Potential
Estimated revenue growth and competitive advantage.
Business Quality
Workforce dynamics, the ability to raise capital from high-quality investors, and various proxies for quality such as market demand.
Management Quality
Executive team and board of directors experience.
Valuation
Signals to avoid overpaying based on a model of typical valuation trajectories and analysis of ownership of portfolio companies in other funds.
Market Sentiment
Analysis of historical valuation increases and analysis of industry-level investment flows.
Demand for Liquidity
Company maturity and nearness to IPO.
Marketability
High-focus sectors by institutional investors.
Investors
Analysis of investor quality of a company’s cap table.
Target Criteria
Since inception Scenic has been the go-to Investment Bank for large shareholders in venture-backed, private companies. Our deep market expertise in this emerging asset classes enables us to execute transactions in a discrete, market-driven way. Our target criterea for investments are as follows:
- Proven Technology.
- Product market fit.
- Exit 12-36 months.
