A global tech advisory and investment firm, whose funds invested in Spotify, Slack and Discord, has opened a Luxembourg office.
On Monday, GP Bullhound announced the office launch saying that the expansion ensured post-Brexit continuity and compliance for its activities and support for local tech entrepreneurs and the ecosystem in general.
The firm, which has €1bn million in assets under management and three funds, a SPAC and several co-investment vehicles domiciled in Luxembourg, has already obtained CSSF approval for its AIFM licence application.
According to GP Bullhound, the CSSF licence gives it full control over its own funds, from distribution through to final exits. Among the latter, it already boasts some high-profile names such as Spotify, Slack, Unity, Busuu, while its current portfolio includes Revolut, Klarna, Vivino, Glovo, Discord and DuckDuckGo.
“Local presence allows us to […] strengthen GP Bullhound’s position as a leading advisor and investor in the technology sector globally.”
Per Roman
GP Bullhound will begin in Luxembourg with a six-strong local team and plans to hire a dealmaker and a portfolio manager 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 a conducting officer in the new Luxembourg office.
In parallel to the Luxembourg launch, the company is opening a new office in Zurich.
“Luxembourg and Zurich have become key financial and tech hubs, and these new offices fit our firm’s global development strategy,” GP Bullhound co-founder and managing partner Per Roman said, adding: “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.”
The Luxembourg office will house GP Bullhound’s operations and compliance centre, with a focus on fund management activities including portfolio and risk management valuations; marketing of new funds and local investment banking activities.
Founded in 1999, today the firm has more than 180 employees working across three continents, including in London, San Francisco, New York, Berlin, Paris, Stockholm, Madrid, Hong Kong, Manchester and Marbella. GP Bullhound launched its first Luxembourg-domiciled fund in 2017 and has since established strong relations with local institutions, including institutional investors such as the European Investment Fund and Luxembourg Future Fund.
