In addition to direct investments, the Company invests in the Oakley Funds. The Funds typically invest in high-growth European businesses, across four complementary sectors: Technology, Consumer, Education, and Business Services.
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Technology
As business migrates to the cloud, we invest in companies looking to offer efficiency and productivity gains through digitisation.
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Consumer
As consumers continue the shift to online and migration to the cloud, several regions and sectors are ripe for digital disruption.
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Education
As global demand for high-quality accessible learning increases, online platforms and market consolidation are delivering provision at scale.
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Business Services
As the data-driven economy becomes more complex, businesses need mission-critical, tech-enabled services to succeed.
Oakley Capital Investments (‘OCI’ – the Company)
The Company provides its shareholders with access to private equity investments by investing primarily in Oakley Funds, including more recently, Oakley Capital Origin Fund II, Oakley Touring Venture Fund and Oakley PROfounders Fund III. Over more than 20 years, Oakley has built a strong track record investing in four core sectors: Technology, Consumer, Education and Business Services.
Cash held by the Company that is not immediately called upon by the Oakley Funds are invested under treasury guidelines set by the Board. Risk appetite is typically limited to placing such funds in cash deposits or near-cash deposits. The Company is authorised to hedge the foreign exchange exposure of any non-GBP cash deposit or investment.
From time to time, Oakley may invite one or more Limited Partners in the Oakley Funds to directly invest alongside the Oakley Funds on substantially the same terms as the relevant Oakley Fund. In such event, Oakley would make available to the Company copies of the due diligence and analysis prepared by Oakley and any other third parties in relation to such direct investment opportunities. The Board would then determine whether or not, and to what level, the Company should directly invest. The Board has currently determined that its current strategy is not to participate in new direct investment opportunities.
Reinvestment
On any realisation of investments, the Company may reinvest funds not required to meet existing Fund commitments in any of the following ways:
- by way of commitment to a future Oakley Fund;
- in cash deposits and cash equivalents; or share buy-backs.
Borrowing powers of the Company
The Company has in place a revolving credit facility and has the power to borrow money where necessary (whether via its revolving credit facility or otherwise) to further the aims of the business.
Changes to the investment policy
No material changes have been made to the Company’s investment policy during the year. However, the Oakley family of funds now includes Oakley Capital Origin Fund II and the Oakley Touring Venture Fund (‘Touring’), to which the Company made commitments of €190 million and US $100 million respectively in 2023.
Touring focuses on opportunities in proven next generation software businesses for the modern worker, powered by generative AI, complementing Oakley’s other Funds, which continue to invest in Technology, Consumer, Education and Business Services, and reflects Oakley’s view of the exciting growth possibilities achievable within the AI tech sector.
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The Company provides its shareholders with access to private equity investments by investing primarily in the Oakley Funds.