They are venture capitalist investing in start ups many steps before listing. As they typically invest up to 5m I am sure there are 100s and 100s of unlisted opportunities for them to do due diligence. They are in the enviable position of benefitting from slowly rising stock prices they have invested in which are listed (increasing NTA). At the same time they have the time to see which start up opportunities survive the higher interest rate environment. Whilst, cash may return to growth stocks on market the cash availability to start ups off market will most likely take a longer time to return meaning they can spend less to buy into opportunities.
BTI Price at posting:
$1.28 Sentiment: Buy Disclosure: Held
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