Rit Capital Partners PLC · LSE:RCP
Rit Capital Partners — Investor Presentation (April 2025)
18 slides from Rit Capital Partners's investor presentation, April 2025
Slide 1: FY 2024 Private Investments Overview
Manager Presentation FY 2024 Private Investments Overview Published April 2025 Your capital is at risk. Past performance is not a guide to future returns.
Slide 2: Table of Contents
Table of Contents Track Record 3 Funds Portfolio 9 Diversification 4 Directs Portfolio 10 Top 100 Companies 5 Press Coverage 11 Portfolio Activity 6 Why RIT? 12 Direct Investment Outlook 7 Case Studies 13 Realisations From Growth 8 RIT’s Valuation Approach 16 Manager Presentation Page 2
Slide 3: RIT's History in Private Investments
RIT’s History in Private Investments • RIT has invested in private assets since inception in 1988 Annualised returns of Private Investments1 • Benefits of accessing private investments through RIT include: 20% 19% • Access to investments, including specialist funds, not typically accessible 15% 15%
Slide 4: Diversified by Vintage, Investment Stage and Geography
Diversified by Vintage, Investment Stage and Geography NAV by Year of Vintage2(% of NAV) NAV by Stage of Investment2 (% of NAV) Private Funds and Direct Investments 2 Funds: Direct: 70% 30% 2021 - 2024, 31% Growth Equity, 56% 2017 – 2020, 41% Private Equity, 23% 2013 - 2026, 17% Early Stage, 17% Pri
Slide 5: Thematic Breakdown of Top 100 Companies by Value
Thematic Breakdown of Top 100 Companies by Value (direct investments and through funds) 5 Enterprise Software 29% Platforms improving business operations, productivity, and collaboration. Fintech 26% Technology modernising financial services for accessibility and efficiency. Consumer 14% Products an
Slide 6: 2024 Portfolio Activity
2024 Portfolio Activity6 Listed / Realised Investments Direct Portfolio Realisations IPOs M&A 6 Source: JRCM data. Manager Presentation Page 6
Slide 7: Direct Investment Outlook
Direct Investment Outlook7 • Short-term catalysts: potential Motive IPO late 2025/early 2026, potential Kraken IPO in 2026 • Long-term catalysts: Exposure to high-growth quality compounders with leading market share not typically accessible to public markets e.g. Epic Systems, SpaceX • Well placed i
Slide 8: Realisations From Growth in IPOs and M&A
Realisations From Growth in IPOs and M&A8 100 80 Portfolio net distributions 60 40 20 • £170m realisations in 2024 0 £m -20 -40 • If momentum continues, there could -60 be a steady pace expected going -80 forwards through improving IPO -100 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 condition
Slide 9: Access to the World's Best Performing Private Managers
Access to the World’s Best Performing Private Managers Ribbit Capital 4.2% 3.0% 2.8% 2.5% 2.2% of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV Listed/realised investments9 Listed/realised investments9 Listed/realised investments9 Listed/realised investments9 Listed/realised investme
Slide 10: Direct Investments in Emerging and Established Market Leaders
Direct Investments in Emerging and Established Market Leaders Annualised Return of 20% in the 10 Years to 202411 2.3% 1.4% 0.8% 0.7% 0.6% 0.6% 0.3% of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV of RIT’s NAV Mana ger Company Description Prese Company Description Compan
Slide 11: Recent Press Coverage of Our Partners and Investments (2024-2025)
Recent Press Coverage of Our Partners and Investments (2024-2025) Thrive Capital: plots new Iconiq Growth Gains Stripe bounces back to Acrisure working on fundraising as it doubles More than $1 Billion $90bn-plus valuation after prefs raise as it lays down on tech in ServiceTitan IPO surge in AI dem
Slide 12: Why RIT?
Why RIT? Access: Network of best-in-class partners built up over decades and offering unique access to exceptional private companies Diversification: Well-diversified by vintage, investment stage and geography Track record: Strong, long-term performance in private investments Flexibility: Private in
Slide 13: Case Study: Lede
Case Study: Lede • Lede represented an opportunity to invest alongside a core partner, backing an exceptional management team in a profitable, debt free business. ~2.5x 44% • Our investment benefited from a highly attractive, asymmetrical investment structure, with meaningful Realised return Interna
Slide 14: Case Study: Coupang
Case Study: Coupang • Coupang, commonly referred to as the “Amazon of South Korea”, is one of the largest ecommerce businesses in Asia. ~7x ~$340m • Services include delivery of groceries and general merchandise, delivery of prepared foods through Coupang Eats, and video streaming though Coupang Pla
Slide 15: Case Study: Acorn Holdings
Case Study: Acorn Holdings • Acorn was a holding company for two businesses: Keurig Dr Pepper and JDE Peet’s. Keurig Dr Pepper is a leading beverage company in North America offering hot and ~2x 20% cold beverages through household brand names such as Dr Pepper soft drinks and the Keurig coffee brew
Slide 16: Appendix – RIT's Valuation Approach
Appendix – RIT’s Valuation Approach • Valuations are primarily sourced from the GPs, as • The results of the above analysis are reported to the they typically have access to proprietary Valuation Committee, comprised of four independent information about the underlying companies and directors, who m
Slide 17: Important Information and Risk Factors
Important Information and Risk Factors This presentation is approved for issue in the UK by J. Rothschild There are a number of factors that could cause actual results or Capital Management Limited (“JRCM”), a subsidiary of RIT Capital developments to differ materially from those expressed or implie
Slide 18: Contact details
investorrelations@ritcap.co.uk www.ritcap.com 27 St. James’s Place, +44 20 7647 8565 London, UK, SW1A 1NR
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