Schroders Capital Semi-Liquid Global Innovation Private Plus Fund
Managed by Schroders Capital
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Schroders Capital Semi-Liquid Global Innovation Private Plus Fund
Key Statistics
Fund Size
€63M
Target Return
9.4%
Annualized Return
0.8%
Launch Year
2021
Min. Investment
€10,000
Availability
Open for public
Structure
Luxembourg SICAV (Part II UCI), sub-fund of Schroders Capital Semi-Liquid
Product Category
Open-end
Domicile
Luxembourg
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1.9%
Carry
None%
High Water Mark
No
ISIN
LU2523322431
Currencies
USD
Investor Eligibility
Retail
Liquidity Options
Quarterly redemptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
4 out of 7
Annual Returns (KID Scenarios)
Stressed
-14%
Moderate
3.78%
Favorable
9.41%
Average Total Cost Level (KID)
4.58%
Allocations
Geographic Focus
Investment Strategy
Historical Performance
Information about fund
Schroders Capital’s Venture and Growth Sleeve
The venture and growth sleeve of Schroders Capital’s semi-liquid range is the Schroders Capital Semi-Liquid Global Innovation Private Plus fund, a Luxembourg-domiciled SICAV sub-fund launched on 29 October 2021 as Schroder GAIA II Global Innovation Private Plus and rebranded in 2023. The vehicle invests in innovative private companies worldwide with a technology and healthcare bias and a five-to-seven-year horizon to achieve capital growth, through direct investments, co-investment vehicles and secondaries, complemented by a selection of listed equities. The fund is denominated in US dollars.
Key Figures (30 June 2025)
Net Assets
$63.4M
Semi-annual report, 30 Jun 2025
Since Launch (A Acc)
+2.8%
Cumulative, Oct 2021 – Jun 2025
Management Fee
1.90%
A shares; C 1.45%, E/ID/IE 1.20%
Ongoing Charge (A Acc)
2.49%
KID total cost 4.58% incl. underlying
Liquidity
Quarterly
Redemptions capped at 5% of NAV
Minimum
€10,000
Via distributors
What Is in the Portfolio
This is a small fund, with net assets of $63.4 million at 30 June 2025. In comparison, its sibling Schroders Capital Semi-Liquid Global Private Equity has around $2.2 billion. The direct portfolio is recognisably AI-heavy: Synthesia (6.6% of NAV), Poolside (4.7%), Hound Technology (4.2%), Securiti (4.0%), Uniphore (3.4%) and Scale AI (2.7%), alongside the biotech names iOnctura, Memo Therapeutics and Neurona. A third of the portfolio consists of investee funds and co-investment vehicles, and a very notable 29% was sitting in money-market funds at the reporting date, which dilutes returns until it is deployed. The geographical split is roughly two-thirds North America, a quarter Europe and the remainder Asia.
Largest Direct Holdings (% of NAV, 30 June 2025)
| Synthesia | 6.6% — AI video generation (UK) |
| Poolside | 4.7% — AI coding models (US) |
| Hound Technology | 4.2% — Software (US) |
| Securiti | 4.0% — Data security & AI governance (US) |
| Uniphore | 3.4% — Conversational AI (US) |
| Scale AI | 2.7% — AI data infrastructure (US) |
| Biotech | iOnctura (CH), Memo Therapeutics (CH), Neurona Therapeutics (US) |
| Investee funds & co-invest vehicles | 32% of NAV (incl. Lakefront, Vega Co-Invest, Chronos Capital, Sprints Capital Ellison) |
| Liquidity funds | 29% of NAV (Goldman Sachs, Morgan Stanley, Deutsche money-market funds) |
Fees, Liquidity and Track Record
Management fees are 1.90% a year for the A shares, 1.45% for the C shares and 1.20% for the E, ID and IE institutional classes; the ongoing charge for Class A Acc was 2.49% in the latest semi-annual report, and the KID’s total cost figure comes to 4.58% once underlying fund and transaction costs are counted. The fund is offered as a semi-liquid product: redemptions are possible on a quarterly basis up to a maximum of 5% of NAV. It sits in KID risk class 4 of 7 with a moderate scenario of 3.8% and a favourable scenario of 9.4% a year — but the record so far is thin: Class A Acc had returned a cumulative 2.8% since launch by 30 June 2025, with several hedged classes negative. The minimum subscription is €10,000 via distributors.
Deepdive & Related Funds
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