Advantages of investing with Bewater Funds
Pre-selection by our experienced team
Increased share liquidity
Low fees: 1% management fee and a 10% success fee
Choose one or multiple companies
Security: through a fund registered with the CNMV
Aligned interests: we invest together
How it works
How to buy
- Step 1. Register as a professional investor
- Step 2. Choose the company in which you want to invest.
- Step 3. Introduce your expression of interest.
- Step 4. Send cash and you are a shareholder.
How to sell shares
- Step 1. Select the company from which you wish to divest.
- Step 2. Introduce an expression of interest.
- Step 3. We look for an interested buyer.
- Step 4. Receive cash.
Closed-End Funds(CEF) are closed type collective investment institutions, which means that the participants will not have the right to divestment alone, only simultaneously. The transfer of shares is restricted and the participants may only carry it out with the intermediation of the Bewater Asset Management, Asset Managers of Closed-End Collective Investment (SGEIC), which may charge a fee to the participating seller for it. The SGEIC does not guarantee that its intermediation results in all cases in the identification of a buyer for participations offered by the participating seller. Participants may have to wait before they can sell their shares in the FICC or they may not be able to sell them at the price for which they subscribed or at a higher price.
Bewater Funds provides the opportunity to invest in shares or other illiquid assets of a single unlisted company, in Spain or other OECD countries, through a Closed End Fund (CEF). The company is selected by the Bewater Asset Management SGEIC, SA, team, hereinafter the Management Company. Additionally, shareholders of CEF can express their interest in selling their shares though the website with a simple click.
Bewater Funds is the commercial branch of Bewater Asset Management SGEIC of closed-end funds, SA.
The shares of SL (limited liability) companies in Spain are illiquid by nature because they are subject to preferred shareholder rights of the partners, entailing tedious procedures and authorisations (waiver of pre-emptive rights, call for general Shareholders’ meeting, etc.),that reduce the number of potential buyers. If the shareholders of a SL allow their shares to be acquired by a third party, it indicates a high price or that they simply allow the third party to do the work in order to establish a current market price for the shares. Shareholders can subsequently use their pre-emptive rights to acquire the shares themselves. This usually involves liquidity discounts between 25 to 50% on the market price.
Bewater Funds creates a Closed End Fund (CEF) for each company in which it invests. The shares of the fund will be offered to investors, previously registered on the website, who can put forward an expression of interest for the quantity and price of shares they wish to acquire. Once purchased, shares can subsequently be offered for sale through our site. This is done without the limitations of pre-emptive rights or the need to call a general shareholders meeting.
Investing through Bewater Funds has many advantages:
- Pre-selection of companies by the asset manager, composed of a team that has invested in more than 40 private companies.
- Follow up by the Asset Manager, who requires all SLs to have a shareholders agreement and a professional investor, approved by the asset manager, to protect the interests of minority shareholders.
- Possibility of investing in a single fund, or diversifying through investments in multiple funds.
- Greater liquidity than direct investment in private companies, since shares can be put up for sale with a single click.
- Low costs compared to the average capital risk industry: Fees .
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