Wildermuth Fund - Class I · NASDAQ:WEIFX
Wildermuth Fund - Class I — Corporate Update (December 2023)
25 slides from Wildermuth Fund - Class I's corporate update, December 2023
Slide 1: Wildermuth Fund Investor Update December 2023
Wildermuth Fund Investor Update December 2023 The information provided herein is for informational purposes only and is intended only for existing shareholders of the Wildermuth Fund and their representatives. The information is intended for the specific audience and is not for attribution or for di
Slide 2: Table of Contents
1. About BWAM and Kroll Table of 2. Events Leading to BWAM’s Appointment 3. Fund and Investment Overview Contents 4. Valuation Movements 5. Divestment Strategy 6. Projected Timeline for Returns 7. Investor Support 2
Slide 3: About BWAM and Kroll
About BWAM and Kroll —
Slide 4: About BWAM and Kroll
About BWAM and Kroll BW Asset Management Ltd (“BWAM”), a subsidiary of Kroll, is an investment adviser registered with the U.S. Securities and Exchange Commission and is organized as a Cayman Islands corporation. Kroll is the world’s premier 13,400 provider of services related to funds and asset THE
Slide 5: Kroll Organization Locations
Kroll Organization Locations Across 34 countries and territories worldwide Asia Pacific Beijing Mumbai Guangzhou New Delhi Hanoi Shanghai Hong Kong Shenzhen Hyderabad Singapore Jakarta Sydney The Americas Kuala Lumpur Taipei Atlanta Los Angeles Seattle Europe, Middle East and Africa Manila Tokyo Aus
Slide 6: Kroll Organization – Overview of Our Clients
Kroll Organization – Overview of Our Clients 51% 65% of the S&P of Fortune 500 100 Companies 19 of the Companies 73% 95% 25 largest of the 100 of AM Law largest Euro STOXX 100 law firms STOXX 21 of the companies companies 25 largest 21 of the private equity 25 largest firms in the hedge fund PEI 300
Slide 7: Events Leading to BWAM's Appointment
Events Leading to BWAM’s Appointment Wildermuth Fund
Slide 8: Events Leading to BWAM's Appointment
Events Leading to BWAM’s Appointment • The Wildermuth Fund (“Fund”) is an interval fund that offered periodic redemptions for Investors • Historically, redemptions were funded from cash, including from the sale of the Funds liquid investments • The Funds investment composition has changed over the y
Slide 9: Actions Since Plan of Liquidation
Actions Since Plan of Liquidation • Since the announcement of the Plan of Liquidation, the prior Investment Advisor attended to, amongst other items: - Explored various options to implement the Plan of Liquidation - Initiated sales process for a number of the LP positions, resulting in sales of US$3
Slide 10: Fund and Investment Overview
Fund and Investment Overview
Slide 11: Fund Overview
Fund Overview Portfolio Composition: • The Fund’s investments comprise 14 Private Equity positions and 22 Limited Partnership positions. Assets Under Management Private Equity Positions: PE versus LP • Predominantly early-stage private equity positions across various industries including emerging te
Slide 12: Investment Overview
Investment Overview Set out below is a reconciliation between the fair values of the Fund’s investments as at 30 June 2023 and 30 September 2023: Opening Position (US$) Total Change in Q3 Valuation (US$) Investment 30 June 2023 Carrying Value (US$) 30 September 2023 Affinity Beverage 174,999 - 174,9
Slide 13: Top 8 - Investment Overview
Top 8 - Investment Overview Waratek Limited (“Waratek”) – US$13,623,427 DSI Digital LLC (“DSI”) – US$11,268,532 • Founded in 2002, based in Dublin, Ireland • Founded in 2003, headquartered in Peachtree Corners, Georgia. • Technology company providing platform security solutions, based in Ireland • O
Slide 14: Investment Overview
Investment Overview Affirmative Technologies (“Level ATI”) – Clearsense, LLC (“Clearsense”) – US$5,212,147 US$4,324,396 • Incorporated in July 2014 and based in • Formed in 1998 and headquartered in Palm Jacksonville, Florida Harbor, Florida • Operates as a healthcare technology • Develops electroni
Slide 15: Valuation Movements
Valuation Movements —
Slide 16: Valuation Movements
Valuation Movements • The 30 September 2023 fair value exercise resulted in a reduction in carrying value of the Funds investments of US$12.1 million from US$95.6 million (as at 30 June 2023) to US$85.4 million, representing a decline of 12%. • The majority of the value reduction (US$10.3 million) w
Slide 17: Divestment Strategies
Divestment Strategies —
Slide 18: Divestment Strategies
Divestment Strategies The role of the IIA to is to implement a Plan of Liquidation agreed upon by the Board of Trustees, effective 29 June 2023 BWAM’s mandate is to realize the remaining investments of the Fund in a timely manner so as to optimize returns to the Fund and its investors. BWAM anticipa
Slide 19: Exit Options and Estimated Timelines
Exit Options and Estimated Timelines BWAM is considering all available options to realize the remaining investments of the Fund. Given the nature of the Fund’s investments, the range of exit options available are typically limited and will include, but are not limited to: • LP Positions: Secondary m
Slide 20: Projected Timeline for Returns
Projected Timeline for Returns
Slide 21: Projected Timeline for Returns
Projected Timeline for Returns Any distribution to Investors will be subject to successful sale processes of investments and the repayment of the Funds current bank debt of US$14.5 million and other Fund expenses. Thereafter, distributions to Investors will be periodic as further investments are rea
Slide 22: Investor Support
Investor Support 22
Slide 23: Investor Support
Investor Support • The Wildermuth Fund website (www.wildermuthfund.com) will be maintained and updates will be uploaded to the website accordingly. • Further information such as FAQs are available on the website. • Proxy statements will be sent out to Investors in due course. • Investors can reach o
Slide 24: Important Information
Important Information The information provided is for information purposes only and is intended only for existing shareholders of the Wildermuth Fund and their representatives. The information is intended for the specific audience and is not for attribution or for distribution to third parties. The
Slide 25: Thank You
Thank You Kroll, BWAM and their subsidiaries, assumes no direct, indirect, or consequential liability to any third party for the information contained herein, its interpretation or applications, or for omissions, or for reliance by any third party or other person thereon. To the extent our findings