Silicon Valley Firm Readies For Launch of Three Funds

Dec 15 2005 | 5:00pm ET

Silicon Valley-based Conquistador Ventures is preparing to launch three funds on Jan. 3, the Conquistador Capital Fund, which will have an onshore and an offshore version, and the Conquistador Crossover Fund, an onshore vehicle.

The Capital Funds will be long/short equity and will invest in public technology firms of all market capitalizations both in the U.S. and abroad. The Crossover Fund will be a hybrid fund consisting of both public and private equity investments in the technology sector, including investments in new, distressed and later-stage companies.

Patrick Renda, a founding partner of the firm, expects each fund to launch with between $5-10 million in assets under management and aims to close each fund at $500 million.

All three funds will have a 1.5% management fee and a 20% performance fee, and the firm is pledging 5% of its profits each year to various charities. The minimum investment in each fund is $1 million and the lock-up is one year.

“We have been managing partner money for five weeks and we are up about 8%,” said Renda, who was previously with American Express Financial Corp., where he was the sole technology specialist on a $35 billion portfolio, of which approximately 25% was invested in technology. “My vision is to build this in a Carlyle Group/Blackstone model, so we are setting things up legally and operationally to be around for a while,” said Renda, who added that the company is in the process of registering with the Securities and Exchange Commission.

The two other founding partners of Conquistador are Carolyn Rogers and Jeffrey Lin. Previously, Rogers served as v.p. and investment officer at J. & W. Seligman, and also helped launch two technology companies—one that went public and the other which was sold to a public firm. Lin was most recently v.p. and analyst at Provident Investment Counsel, where he focused on large capitalization technology stocks.

Bear Stearns and Merlin Securities are serving as prime brokers on the funds. Rothstein Kass is the auditor, Howard Rice is the legal counsel and Conifer Securities is providing operational support to the firm.  


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.