MacNicol & Associates Asset Management is pleased to announce a transaction exit through its private equity fund, the MacNicol Emergence Fund. The primary objective of the Emergence Fund is to seek investments in small companies which are not widely followed by research analysts or investors. The Fund seeks opportunities where capital exit strategies are clearly defined and are likely to occur within a five-year time frame.
During the first quarter of 2024, the Emergence Fund sold its position in the digital asset manager, 3iQ to Monex Group, a Japanese financial services company. The exit resulted in a 17.8% holding period return from December 2017 until the sale earlier this year. The Emergence Fund received a multiple on invested capital of 2.83 times. 3iQ is a Toronto based crypto-asset investment firm.
