GP Bullhound, a global technology advisory and investment firm, has announced the opening of its Luxembourg office after the CSSF confirmed its Alternative Investment Fund Managers (AIFM) licence application; the company is now included on the CSSF's AIFM list.
The Luxembourg office will ensure post-Brexit continuity and compliance for GP Bullhound's advisory and investment activities and allow close collaboration with local entrepreneurs and investors to further strengthen the local ecosystem. "With €1bn million in assets under management and three funds, a SPAC and several co-investment vehicles already domiciled in Luxembourg, it was only logical to open and grow an office in EU's most important financial centre," said Per Roman, Co-Founder and Managing Partner of GP Bullhound.
Founded in 1999, with a team of more than 180 employees spread across three continents, the firm adds to existing offices in London, San Francisco, New York, Berlin, Paris, Stockholm, Madrid, Hong Kong, Manchester and Marbella. In parallel to the Luxembourg launch, the company is opening a new office in Zurich.
The company sought the CSSF licence so it can now manage its own funds and be in complete control of the entire investment process – from distribution to final exits. Among the company's most notable exits are Spotify, Slack, Unity, Busuu, while the current portfolio comprises, among others, Revolut, Klarna, Vivino, Glovo, Discord and DuckDuckGo.
"Luxembourg and Zurich have become key financial and tech hubs, and these new offices fit our firm's global development strategy," Per Roman said. "Local presence allows us to offer the best possible services and products to our clients and investors, as well as strengthens GP Bullhound's position as a leading advisor and investor in the technology sector globally."
Ambitious local growth plans
Luxembourg is structured as GP Bullhound's operations and compliance centre focusing on fund management activities, such as portfolio and risk management and valuations; marketing of new funds; and local investment banking activities. The local six-strong team is looking to fill two additional senior positions in the coming weeks.
"We are greatly committed to the Luxembourg tech ecosystem. We are not only an AIFM, as we are also hiring a dealmaker to bring our advisory expertise to the Luxembourg market and engage with the local tech industry," said Alek Jakima, GP Bullhound Director and one of the Conducting Officers in the new Luxembourg office. He has 16 years of multi-jurisdictional experience in the structuring, administration and oversight of funds, spanning a broad range of regulatory, compliance, operational and management expertise gained in Luxembourg, Ireland, Poland and Italy.
GP Bullhound launched its first Luxembourg-domiciled fund in 2017. The company has since established strong relations with local institutions, including institutional investors such as the European Investment Fund and Luxembourg Future Fund.
The company is also planning to hire an additional portfolio manager – based in Luxembourg – to support local deal sourcing activities. In addition, GP Bullhound is known in other markets for its tech reports and surrounding events and plans to organise similar get-togethers in Luxembourg to animate the exchange between local tech companies and investment opportunities.
Zurich office opening
In parallel, the new Zurich office aims to support Switzerland's entrepreneurial ecosystem with sophisticated technology advisory services and provide vital access for founders and entrepreneurs to harness global wealth managers and investors domiciled in the country.
Olya Klüppel, Partner, will head the Zurich office. Olya has over 20 years of credit investment and portfolio management experience in Europe, the US and Asia, currently focusing on the digital economy and technology companies. GP Bullhound has been active in Switzerland, with past engagements including the acquisition of Namics by Merkle (Dentsu group), the acquisition of Infinigate by HIG and advising Crypto Finance AG.
GP Bullhound is a leading global advisor to companies and their owners on capital transactions and competitive international sale and acquisition processes. The firm offers a broad range of investment products across public and private markets, from growth equity to private credit to listed technology champions. With more than €1bn of assets under management, its limited partners include institutions, family offices and entrepreneurs from all over the world. The company's ambition is to become a major asset manager for tech entrepreneurs around the globe.