Octopus Titan VCT plc has added to its track record of investing into highly successful European technology companies, as Cazoo, the UK headquartered online retailer of used cars, lists this week on the New York Stock Exchange (NYSE).
This adds to an already exciting 2021 for Octopus Titan VCT plc, following the sale of Depop to Etsy for $1.625 billion, and WaveOptics to Snap for over $500 million earlier this year.
With an estimated market cap of $7 billion at the time of listing, Cazoo will become the most valuable VCT-backed company to go public.
Malcolm Ferguson, Partner at Octopus Titan VCT plc: “The dazzling success of Cazoo in less than two years since first launching to the public is testament to the talent and ambition of the founder Alex Chesterman and his team.
“Alex is no stranger to this kind of success either, having previously founded Zoopla, the first VCT backed unicorn. The longstanding relationship developed through investing into his prior companies gave us the confidence to invest in Cazoo when it was still at idea-stage, and we have been thrilled to see its phenomenal growth as it quickly became one of Europe’s fastest growing and most valuable venture-backed companies.
“Cazoo’s story is also another fantastic example of VCTs ability to find and support the UK’s future tech stars, while allowing retail investors to benefit from their early growth too. Opportunities to invest in private markets like this have typically been limited to institutions, but VCTs offer this access to retail investors, providing those comfortable with the risks a tax efficient way of investing in dynamic and innovative growing businesses.
“As more VCTs start to open for fundraising, now could be a great time for investors who are comfortable with the risk of investing in early-stage companies to diversify their portfolio and gain access to the UK venture ecosystem and the unicorns it is now producing regularly.”