
Juneau Capital
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A new publicly traded fund listed in Tel Aviv with equity positions already in a basket of privately held VC-backed companies and a few public ones. Its specialty is allowing entrepreneurs of private companies and their investors to forgoe a small portion of their firm’s equity (10%-20%) in return for equity in Juneau, in addition to receiving cash. This then exposes these individuals to the outcomes of many more companies than just their own, if they choose to keep their Juneau shares.
Hence, Juneau essentially allows entrepreneurs and their co-investors to cash out of their business to a small degree and become holders of a publicly-listed private equity mutual fund, that in turn has a portion of equity in the entrpreneurs’ firm. Thus, entrepreneurs and their co-investors are essentially divesting from their company. However, the company could actually benefit if such funds are injected back into it, rather than being a straight signal of lost faith, which may or may not be the case.
In contrast, if an entrepreneur were instead to utilize a private equity exchange:
- company valuations would instead be set by market participants, not Juneau’s investment committee.
- entrepreneurs and their investors would have more control regarding their firm’s provision of shares to that exchange, not just 10-20%.
- more discretion would be provided with regards to the number and degree of exposure to other companies receiving an investment, not just that seen in the Juneau portfolio.












