Gresham House achieves top scores in their PRI (Principles for Responsible Investment) assessment report for 2020 -... Read More
Strategic Equity Strategic Equity
An investment philosophy applying a private equity approach to investing in both public and private companies.
An investment philosophy applying a private equity approach to investing in both public and private companies.
Through rigorous due diligence, our team aims to achieve superior returns for long-term investors.
Across our equity strategies, we share a fundamentals-based, high-conviction approach to finding and investing in opportunities in public and private equity markets.
Public Equity
Offers investors exposure to UK smaller public companies through a long-term
investment philosophy, using private equity techniques and thorough due diligence.
LF Gresham House UK Multi Cap Income Fund
A multi-cap income fund with a bias towards investment in small and mid-cap companies.
LF Gresham House UK Micro Cap Fund
A fund invested in micro-cap stocks listed on the main market and AIM, with a market cap below £250 million.
Gresham House Strategic plc
An independent AIM-quoted investment company, which invests primarily in UK and European smaller public companies.
Strategic Equity Capital plc
A LSE-listed investment trust, investing in small caps, which seeks to create shareholder value through constructive corporate engagement with publicly quoted companies.
Baronsmead Venture Trust plc
The Baronsmead funds invest in the future of British business – supporting innovative smaller companies that we believe are the driving force of the UK economy.
Baronsmead Second Venture Trust plc
The Baronsmead funds invest in the future of British business – supporting innovative smaller companies that we believe are the driving force of the UK economy.
Private Equity
Offers investment opportunities in early-stage and lower mid-market private companies
over a long-term investment horizon through both listed and unlisted fund structures.
Baronsmead Venture Trust plc
The Baronsmead funds invest in the future of British business – supporting innovative smaller companies that we believe are the driving force of the UK economy.
Baronsmead Second Venture Trust plc
The Baronsmead funds invest in the future of British business – supporting innovative smaller companies that we believe are the driving force of the UK economy.
Investment team

Bevan joined Gresham House in November 2018, having been at Livingbridge since 2006. Bevan has overall responsibility for all portfolio management activities for the Baronsmead VCTs. He also directly manages portfolio investments and has been an active board member of several Baronsmead investee companies including MLS, Eque2, Key Travel and Pho. He qualified as a Chartered Accountant at KPMG in New Zealand, where he provided consultancy services to fast growing small businesses.

Investment Committee Chairman, Gresham House Strategic plc
Investment Committee Chairman, Strategic Equity Capital plc
Tony has been Chief Executive Officer (CEO) of Gresham House plc since December 2014. He chairs the Investment Committees of Gresham House plc and Gresham House Strategic plc. He led the management buy-in and established a new management team that transformed the firm from an investment trust into the AIM listed specialist asset manager it is today.
Tony has a long track record of investing and advising numerous public and private equity businesses. From 2002 to 2011, he established and grew SVG Investment Managers before being asked to lead SVG Advisors (formerly Schroder Ventures, London), the global private equity arm of Schroders, as CEO. He started his career at Phillips & Drew Fund Management (later UBS Global Asset Management), one of the UK’s most prominent value investment firms with £60bn in assets under management at its peak. He was also a member of the UK Equity Investment Committee with responsibility for managing over £1.5bn of UK equities.
Tony has over 25 years of experience and holds a Master of Arts in Management Studies from the University of Cambridge (where he was also a junior rugby international and Blue).

Ken is Managing Director, Public Equity, and leads the investment team managing public equity investments. He is lead manager for LF Gresham House UK Micro Cap Fund, LF Gresham House UK Multi Cap Income Fund, Strategic Equity Capital plc and manages AIM listed portfolios on behalf of the Baronsmead VCTs. Ken graduated from Brasenose College, Oxford, before qualifying as a Chartered Accountant with KPMG. He was an equity research analyst with Commerzbank and then Evolution Securities prior to spending the past 12 years as a Fund Manager at Livingbridge and now Gresham House specialising in smaller companies.

Richard works in our Strategic Public Equity team. He entered fund management 20 years ago and is a Chartered Accountant. After initially starting at a hedge fund, he moved to Société Générale Asset Management where he was made Head of UK Small Companies after becoming a CFA charter holder in 2002.
Richard then became a Founding Partner of River and Mercantile Asset Management in 2006, responsible for the top quartile performing UK Small company and UK Income Funds and helping grow the business to over £2bn AUM. In 2013 he joined Majedie Asset Management to initially co-manage and then solely run the small companies investments within the flagship UK Equity Service. These investments peaked at over £900m, while overall firm AUM doubled to £15bn during his tenure.

Brendan joined Gresham House in November 2018 having previously been at Livingbridge. He studied commerce with a focus on finance at Melbourne University and subsequently spent four and a half years in technology investment banking at Canaccord Genuity.

Adam joined in May 2020, following Gresham House’s mandate win of Strategic Equity Capital plc (SEC). He is a Fund Manager, working alongside Ken Wotton managing SEC. He has ten years of relevant financial experience, previously working for GVQIM as a Senior Analyst providing analysis and due diligence on existing and potential investee companies. Prior to this, he worked at OC&C Strategy Consultants for six years as a consultant working on commercial due diligence and strategy projects for corporate and private equity clients.
Adam was a Girdlers’ Scholar at the University of Cambridge and is a CFA charterholder.

Dane joined Gresham House in March 2021 and is based in the London office working as Fund Controller for the Baronsmead VCTs.
Prior to Gresham House, Dane worked at Laurium Capital in South Africa as Financial Controller, managing the operations of the finance function. Previously, Dane worked at a family office in London as Financial Controller gaining valuable experience in venture capital investments, deal structuring, valuation and performance measurement and assessment. Dane has over four years’ experience in asset management and seven years’ experience in finance having worked for EY for several years post-Articles.
Dane qualified as a Chartered Accountant at EY in South Africa and holds a postgraduate Honours degree in Accounting Sciences from the University of South Africa, where he passed his degree with Cum Laude. Dane is currently registered to sit for the CFA Level III Examination and is a member of the South African Institute of Chartered Accountants (SAICA).

With over 20 years in private equity, Hazel is an experienced investor, board director and has helped build numerous quality boards. Hazel qualified as a Chartered Accountant with Arthur Andersen before spending a few years in corporate finance with British Linen Bank advising public and private companies.
She joined 3i in 1993 and in 2000 opened a London private equity office for Bowman Capital, a $6bn hedge fund with $750m for private equity. She invested throughout Europe before gaining operational experience by heading up the UK for Cross Atlantic Capital Partners. Since 2000, Hazel has been sitting on boards for private equity and independently and since 2006, she has been formally helping companies build quality boards and management teams.
Hazel joined Gresham House in March 2019. She continues to help create and maintain quality teams and is a Strategic Advisor to B&S Group.

Henry joined Gresham House in November 2018 having previously been at Livingbridge since 2016. He focuses on growth capital investments into software and service businesses in the financial and professional services sectors, with particular interest in process and workflow automation software, service companies looking to drive digital transformation, scale-ups looking to improve the use of data and analytics for large incumbents (banks, insurers, legal firms, etc.), and new methods of communication and collaboration.
Prior to Livingbridge, Henry worked at VCT fund manager Foresight Group for three and a half years, and at TMT focused strategy consultancy Spectrum for six years on projects in wireless communications, technology and media strategy.
He has a first class degree in Politics, Philosophy and Economics from Oxford and is a CFA charter holder.

James joined Gresham House as an Investment Manager in December 2019. Prior to this he spent five years at PwC, latterly working in the financial due diligence team.
James is a Chartered Accountant and read Economics and Accounting at Edinburgh University.

Jessica joined Gresham House in November 2018 having previously been at Livingbridge for 5 years. Based in the London office she works as the Operations Manager. Jessica is a qualified management accountant and holds a BA (Hons) in Business Management from the University of Lincoln.

Laurence is deputy fund manager for Gresham House Strategic, working alongside Richard Staveley looking at both public and private equity transactions across a range of sectors. He also supports fundraising and investment activities for our Real Assets division.
Laurence holds a Bachelor’s Degree in Politics with Economics from the University of Warwick. During his studies, Laurence interned at Rothschild & Co, working on the Mergers and Acquisitions Team in the industrial sector, and at Barclays Capital on the equities trading floor

Mackenzie joined Gresham House in December 2019 having previously spent a year in Technology M&A Advisory at BDO LLP, where he worked on a variety of buy-side and sell-side mandates for owner-managed businesses across the UK. Prior to joining the Technology M&A Advisory team he worked in the Business Services team in BDO for two years, where he supported fast growth businesses in meeting their compliance and reporting requirements.
Before joining BDO, he spent over a year at Inflexion Private Equity where he focused on sourcing and researching investment opportunities, where his interest for investing was sparked.

Masrur joined Gresham House in November 2018 having previously been at Livingbridge where he worked across the VCT and Equity Funds’. Prior to that, he spent 2 years in ecommerce and trading at Dixons Carphone and 6 months as a trainee accountant with HT Accountants. He holds a first class BSc in Accounting from the University of Westminster.

Maya joined Gresham House in September 2019, having spent 4 years at Octopus Investments, investing in real estate-backed healthcare companies and entrepreneurs. Prior to that she worked at KPMG for 7 years in audit and corporate finance. She has a first class degree in Modern History from Oxford and is a Chartered Accountant.

Paul is responsible for corporate finance in the Strategic Public Equity team at Gresham House and joined in 2020.
He was previously at HD Capital Partners (Founder), WH Ireland, Sigma Capital plc and PwC.
He has over 24 years’ corporate finance experience and holds a BSc in Geography from Durham University.

Rupesh joined Gresham House in January 2021, having spent five years at Praesidian Capital where he was focused on investing and managing minority growth and buy-out investments in entrepreneurial businesses across a range of sectors.
Prior to that, he worked at Grant Thornton for eight years where he led M&A and private equity transactions. He qualified as a Chartered Accountant with Deloitte and graduated with a BSc (Hons) in Physics from Imperial College.

Steve joined Gresham House in November 2018 after the Livingbridge acquisition. Steve leads the unquoted investment team on behalf of the Baronsmead VCTs. Steve is a qualified Chartered Accountant and prior to moving into Private Equity he advised Corporate and Private Equity clients on a range of corporate finance and due diligence matters on transactions up to £2bn in value at KPMG.
Steve has a depth of experience in sectors including TMT, Leisure, Consumer and Business Services. Notable investments include Carousel Logistics, Moteefe, Boilerjuice, Happy Days Nurseries and Symphony Ventures.

Tania joined Gresham House in November 2018 having been at Livingbridge for 13 years. She has worked on the Baronsmead VCTs since she joined, progressing from administration assistant to Finance Manager in 2011 and qualifying as a Chartered Management Accountant in 2012 while at Livingbridge.
Tania previously worked at a Chartered Accountancy practice in New Zealand for eight years where she began her accounting training. She holds a BBS in Accounting from the Open Polytechnic of New Zealand.

Gresham House Ventures
Tom started working at Gresham House in 2018, having previously been at Livingbridge since 2015. Prior to that he was at KPMG for 6 years, working across a number of departments with a focus on private equity transactions. He has a first class BSc (Hons) in Biology from the University of Bristol and is a Chartered Accountant.
Discover more about Gresham House
Learn more about our history, investment strategies, team and commitment to sustainable investing.
Real Assets investments from Gresham House
Our Real Assets investments are in the underlying real assets that support UK economic growth, seeking opportunities to access returns over a longer time horizon.
More Views from Gresham House
Despite sweeping dividend cuts across the UK equity space in the last couple of months, investors should not make a... Read More
The impact of COVID-19 has been dramatic for everyone, in both their personal and business lives. The sell-off in e... Read More
Gresham House’s Baronsmead and Renewable Energy VCTs have co-invested £5m into Rezatec... Read More 1m
IMPORTANT INFORMATION:
This website uses cookies to ensure you get the best experience on our website.
We have recently updated our Online Privacy and Cookies Policy (the “Policy”) to improve our commitment to protecting your personal information.
Please take a moment to read the updated Policy, which is accessible through the following link: Online Privacy and Cookies Policy
Disclaimer
Important Information
This website is not intended to constitute, and should not be construed as, investment advice, an investment recommendation or investment research. All information contained on this website has been provided to you for information purposes only, may not be relied on for any purpose and should not be assumed to be complete, accurate, up to date or fit for a particular purpose.
Certain information contained on this website may from time to time include information that relates to specified investments or regulated activity (Regulated Information). Where appropriate, such Regulated Information will be approved as a financial promotion by Gresham House Asset Management Limited, which is authorised and regulated by the Financial Conduct Authority with financial services register reference number 682776. Access to, and reliance on, such Regulated Information is subject to the terms and statements regarding risk contained therein. Unless explicitly stated to the contrary, no information on this website is intended as, or should be taken to be, an offer or solicitation with respect to the purchase or sale of any security or interest or other in any jurisdiction. Any decision to purchase securities or interests must be based solely on the information contained in the documents relating thereto, which must be received and reviewed in full, prior to making any investment decision. Prospective investors are reminded that the actual performance realised will depend on numerous factors and circumstances some of which will be specific to the investor.
In addition to any other risk factors contained within Regulated Information available on this web site, investors should note that investments referred to on this website place investors’ capital at risk and could result in a total loss of capital.
Past performance is not indicative of future events.
Prospective investors should seek their own independent financial, tax, legal and other professional advice before making a decision to invest.
Some Regulated Information may relate to Alternative Investment Funds within the meaning of the Alternative Investment Fund Managers Directive and the availability of such information will be subject to the registration of the Alternative Investment Fund in relevant jurisdictions as described in the documents relating thereto. Any dissemination or unauthorised use of information or documents obtained from this website by any person or entity is strictly prohibited.
To the greatest extent permitted by law, Gresham House Asset Management Limited and the members of the Gresham House Group and their affiliates, agents, service providers and professional advisers assume no liability or responsibility and owe no duty of care for any consequences of any person acting or refraining to act in reliance on the information or documents contained on this website or for any decision based on it.
The nature of investment in VCTs
VCTs are a particular type of investment company. They were established by the UK Government with the intention of encouraging investment in smaller, or ‘venture’, UK companies. Investment in VCTs is high-risk and for the long-term. Prospective investors should refer to the detailed risk warnings in the relevant prospectus, but key risks are set out below.
Past performance and risk of loss of capital
The past performance of the VCTs is not a guide to their future performance. The value of a VCT depends on the performance of the underlying assets. The value of the investment and dividend stream from the Gresham House Renewable VCTs can rise and fall. Shareholders may get back less than originally invested, even taking the tax reliefs into account. There can be no guarantee that investment objectives of any of the VCTs will be achieved.
Risks inherent in investing in small companies
Investment in smaller companies which are unquoted, or traded on AIM or ISDX Markets, by its nature, involves a higher degree of risk than investment in larger companies, including those traded on the main market. In particular, smaller companies often have limited product lines, markets or financial resources and may be dependent for their management on a smaller number of key individuals. In addition, the market for shares in smaller companies is often less liquid than that for shares in larger companies, bringing with it potential difficulties in acquiring, valuing and disposing of such shares.
Investments held by the VCTs may be difficult to realise. The fact that a share is traded on AIM or PLUS-Markets does not guarantee its liquidity. The spread between the buying and selling price of such shares may be wide and thus the price used for valuation may not be achievable. Any change of governmental, economic, fiscal, monetary or political policy could materially affect, directly or indirectly, the operation of the VCTs and/or their ability to achieve or maintain VCT status.
Long-term investment and liquidity risks
An investment in a VCT is for the long term. VCT shares are not likely to be easy to sell at full value. Trading in VCT shares is not particularly active, so shares tend to be valued at a discount to their net asset value. In other words, if you seek to sell, you may be offered a price which is less than the full value of the underlying assets. Mechanisms for the buy-back of shares are explained in the annual reports for the VCTs, but you should have no expectation that there will be any buy-back or other opportunity to redeem your interest.
Tax risks
The information on this web site is based on existing legislation, including taxation legislation. The tax reliefs described are those currently available. The tax rules or their interpretation in relation to an investment in the VCTs and/or rates of tax may change during the life of the VCTs and any such changes can be retrospective. Changes in legislation concerning VCTs in general, and qualifying holdings and qualifying trades in particular, may limit the number of new qualifying investment opportunities and/or reduce the level of returns that would otherwise have been achievable. The value of tax reliefs depends on the personal circumstances of the holders of the share in the VCTs, who should consult their own tax advisers before making any investment.
Use of Cookies
This site uses cookies to improve your user experience. By using this site you agree to these cookies being set. To find out more about our use of cookies please see the Online Privacy and Cookies Policy.
Company Information
Gresham House is registered in England and Wales under company number 09447087 and has its registered office at 5 New Street Square, London, United Kingdom, EC4A 3TW. Gresham House’s main trading address is at 5 Cheapside, London EC2V 6AA.
Important Information
You are attempting to access a section of the website that is not suitable for everyone. This section of our website is intended for Professional Investors only as defined in section 3.5 of the FCA handbook. By clicking ‘Agree’ below you are agreeing that you are a professional investor and eligible to receive information intended only for professional investors.
This website is not intended to constitute, and should not be construed as, investment advice, an investment recommendation or investment research. All information contained on this website has been provided to you for information purposes only, may not be relied on for any purpose and should not be assumed to be complete, accurate, up to date or fit for a particular purpose.
Certain information contained on this website may from time to time include information that relates to specified investments or regulated activity (“Regulated Information”). Where appropriate, such Regulated Information will be approved as a financial promotion by Gresham House Asset Management Limited, which is authorised and regulated by the Financial Conduct Authority with financial services register reference number 682776. Access to, and reliance on, such Regulated Information is subject to the terms and statements regarding risk contained therein. Unless explicitly stated to the contrary, no information on this website is intended as, or should be taken to be, an offer or solicitation with respect to the purchase or sale of any security or interest or other in any jurisdiction. Any decision to purchase securities or interests must be based solely on the information contained in the documents relating thereto, which must be received and reviewed in full, prior to making any investment decision. Prospective investors are reminded that the actual performance realised will depend on numerous factors and circumstances some of which will be specific to the investor.
In addition to any other risk factors contained within Regulated Information available on this web site, investors should note that investments referred to on this website place investors’ capital at risk and could result in a total loss of capital.
Past performance is not indicative of future events
Prospective investors should seek their own independent financial, tax, legal and other professional advice before making a decision to invest.
Some Regulated Information may relate to Alternative Investment Funds within the meaning of the Alternative Investment Fund Managers Directive and the availability of such information will be subject to the registration of the Alternative Investment Fund in relevant jurisdictions as described in the documents relating thereto. Any dissemination or unauthorised use of information or documents obtained from this website by any person or entity is strictly prohibited.
To the greatest extent permitted by law, Gresham House Asset Management Limited and the members of the Gresham House Group and their affiliates, agents, service providers and professional advisers assume no liability or responsibility and owe no duty of care for any consequences of any person acting or refraining to act in reliance on the information or documents contained on this website or for any decision based on it.
This site uses cookies to improve your user experience. By using this site you agree to these cookies being set. To find out more about our use of cookies please see the Online Privacy and Cookies Policy.
Gresham House is registered in England and Wales under company number 09447087 and has its registered office at 5 New Street Square, London, United Kingdom, EC4A 3TW. Gresham House’s main trading address is at Octagon Point, 5 Cheapside, London EC2V 6AA.