Worth Venture Partners (WVP), a hedge fund business founded in 2012 by Abby Flamholz and David Wertentheil, has announced the official seeding of its flagship fund.
The Emerging Manager Onshore Fund launched with USD45m on 3 February with a commitment letter from an anchor investor for an additional USD10m. Additional money from confirmed private clients amounts to a total of USD60m.
The fund's first share class is now closed. The second "accelerator" share class to accommodate early stage investors will launch on 3 March with a fee structure of 1.5 per cent management fee and a 20 per cent performance fee with a limited capacity of USD60m.
Worth Venture Partners is a hedge fund business that discovers, selects, and monitors best-in-class emerging managers, who have a sustainable edge, outsized returns and niche expertise, and integrates them into an institutional-quality infrastructure to deliver outperformance to investors.
The fund charges only one layer of fees. The fund enables all investors to access selected emerging managers providing:
• Complete transparency at the manager level
• Secured manager capacity in the fund(s)
• Complete access to each investment team
• Attribution and allocation reports
• A diversified portfolio aimed at double digit returns with low volatility
• Ability to create a custom basket or overweight an individual manager
• The same investment team and investment process since inception