Gary Bailey

Pre-IPO Stock Secondary Market Update | as of Oct 11, 2024 ... In this report: • Page 2: AG Dillon Pre-IPO Stock Venture Capital Fund closing to new investors on Oct 15, 2024 • Page 3-5: Monzo Bank valued at $5.9B following tender offer; OpenAI partners with Hearst; Maven Clinic raises $125M, valued at $1.7B; ByteDance launches AI earbuds, valued at $295B; Cerebras Systems faces IPO delay amid US national security review; Sierra in talks for $4B valuation in new funding round; Numeric raises $28M • Page 6: This Week in Pre-IPO Stocks Podcast • Page 7: AG Dillon Pre-IPO Stock Vintage Index update • Page 8: Current pre-IPO stock secondary market implied valuations • Page 9-10: Pre-IPO Stock revenue multiples • Page 11: Pre-IPO stock secondary market performance

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I firmly believe ESG is going to backfire on the FCA. 6/10 UK retail investors have a negative view on ESG. The root of this negativity comes from ESG becoming part of the Culture Wars since 2022. Conservatives deem ESG as Woke, a number of liberals believe it’s corporate brand laundering, some hedge fund managers say the same, Elon Musk calls ESG a scam and firms exposing greenwashing will be problematic for the ESG community. The writing is on the wall. When it comes to ESG the risk is rising and the rewards are falling. ESG is a political topic so the average Briton will conclude the FCA is playing politics. The NatWest boss lost her job and bonus after playing politics with Nigel Farage. #esg #ir #investorrelations #dei #finance

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Nationwide Building Society and Lloyds Banking Group putting money where every bank’s mouth is - #GenAI and dedicated financial #LLM. Congrats Aveni This is obviously important for the future of #AI in banking. I don’t have a view tbh whether a dedicated LLM would preform better than a generic one. Does anyone? Surely having input from outside FI would render any response more relevant and more reflecting of wider context of finance? That way or another, it is positive that banks are investing in finding out. The focus on #consumerduty is spot on. I do have some though questions wherever ‘ethics’ are mentioned. Whose ‘ethics’ are they exactly and how does one prove something is ‘ethical’? https://lnkd.in/eDbaCrqi

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https://lnkd.in/eY3-AmYM will MoF walk the walk!?.. #JPY strength to play through opts. A very decent chunk of 5s and 7s UST auctions coming up, #SPX500 nearly achieved ideal correction level 4800-4900 range, mega cap earnings and PCE coming up - #highfrolonger still in play, core inflation could actually end up closer to 4.5% towards q3 2024.. QQQ ideal correction more towards 16K, the growth vs value rotation only just started #assetmanagement #qualitybalancesheets

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Dear Gold Gods, Breaking News: The Bank of England's resolvability assessment has brought to light crucial reports into the preparedness of banking institutions. In response to a hypothetical failure scenario, commercial banks were required to provide a liquidity analysis within 24 hours, marking a significant acceleration in assessment protocols compared to previous evaluations. Key findings from the assessment include: - Barclays' challenge in demonstrating the prompt production of valuations. - HSBC's need to enhance its equity valuation capabilities. - Lloyds' inadequacy in providing detailed asset and liability valuations. - Standard Chartered's struggle to generate robust valuations during resolution processes. Furthermore, the Bank highlighted areas for improvement, such as Barclays needing to enhance the specificity of its restructuring options and Virgin Money showcasing the integration of its operational capabilities in failure scenarios. For more details, check the articles shared in the comments section below. #BankingNews #BankOfEngland #FinancialAssessment #BankingIndustry #ResolvabilityAssessment Although there is a strong correlation between gold prices rising during times of economic uncertainty, wars, inflation, and currency debasement, this should not be considered financial advice. Past performance is not always indicative of future results.

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£150 million from the British Business Bank for #CDFIs and £4 million from JPMorganChase for capacity building! Congratulations to the #CDFI sector and Responsible Finance for working endlessly to make this happen! This will be game changing for #CDFI’s and #underestimated SMEs - two of the core markets we focus on @ Lendoe and have focused on from our inception! I look forward to what’s to come!!! Let’s go 🚀🚀🚀🚀🚀 #funding #underestimated #growth #responsiblefinance

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Three cheers for three of The Quoted Companies Alliance members this Friday. Fintech investor TruFin plc, which has offices in London and Birmingham, announced it would turn a maiden full year profit 12 months earlier than forecast. Edinburgh’s Frontier IP Group plc said its portfolio company Alusid Ltd, a spin-out from the University of Central Lancashire which makes tiles and tabletops by recycling waste ceramics and glass, signed its first international distribution deal. H&T Group plc, the UK's largest pawnbroker with more than 280 stores nationwide, reported robust trading in the fourth quarter. (Note: these are recent news items from our membership that caught my eye, not share tips.) Neil Crabb Jackie McKay Jo Stent Steve Baldwin Penny Judd James van den Bergh Chris Gillespie Diane Giddy Simon Walker #goodnewsfriday #publicequity #midcaps #smallcaps #ukeconomy #nationsandregions #shares #investment #growthagenda https://lnkd.in/eDPpNcU3

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https://lnkd.in/e5Ci73fx Sanctions keep us all busy and The CFO recently asked me to write an article about it for the CFO audience. #sanctions #financial crime #amlrightsource

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Salary Guides as a Strategic Tool As the UK Treasury market gains momentum following elections, hiring managers must harness this renewed energy to drive recruitment strategies and make informed decisions about future workforce planning. Political clarity and market stability often signal opportunities for growth, and companies that capitalise on this period of recovery will be better positioned to attract top talent. A key tool that can support hiring managers during this time is the use of #salary guides. They offer critical insights into market trends, salary expectations, and compensation benchmarks. How Can Salary Guides Help You? 1. Informed Budgeting: Salary guides provide current data on salary trends by sector, location, and role, helping you develop accurate #recruitment budgets. This ensures your compensation packages are competitive and realistic, reducing the risk of losing top candidates. 2. Negotiation Support: Having up-to-date salary benchmarks strengthens your negotiation position, allowing you to confidently offer compensation that aligns with market standards. 3. Sector-specific insights: Salary guides highlight trends across different sectors, helping you target talent in high-demand areas and focus your recruitment strategy on the most valuable skills. 4. Overall Compensation Beyond Salary: In addition to base salary, these guides provide insight into total #compensation packages, including benefits, bonuses, and perks—enabling you to craft attractive offers that meet candidate expectations. 5. Recruitment Strategy Support: With data from salary guides, you can tailor your recruitment strategy to meet current and future workforce demands, ensuring your organisation remains competitive in attracting the best talent. As the market picks up and you start planning for future growth, download our #Treasury Salary Guide to help you stay competitive and attract the top talent your business needs. https://lnkd.in/e9xRhYHY

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Join Carol Thomas and me tomorrow for a Clarity AI Webinar to understand the latest developments for the FCA's Naming and Marketing Rule, especially in light of the FCA's recent decision to grant some flexibility on the deadlines. 💡

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⏰ Dear LinkedIn network, please have a look at the freshly published Credit Benchmark UK Default Risk Outlook (published on 24 July) 🔦 The recent UK Default Risk Outlook report indicates that credit default risk for UK companies is expected to plateau by mid-2025. This follows a projected increase in default rates during the second half of 2024. Factors influencing this trend include potential delays in Bank of England rate cuts due to higher inflation or post-election FX volatility. 🔎 Key Takeaways: 🏭 * Industry Impact: Higher Default Rates: Basic Materials, Telecoms, and Technology sectors are expected to see a significant increase in default rates (>10%) by Q2 2025. Moderate Increase: Industrials, Corporates, Financials, and Consumer Industries are forecasted to experience a moderate rise (5-10%). Stable Sectors: Healthcare and Oil & Gas sectors are expected to show little to no change in default rates. 🌍 * Economic Context: The UK's new Labour administration aims to boost private sector investment through public-private partnerships, particularly in infrastructure projects. This strategy could lead to positive long-term outcomes, despite short-term balance sheet pressures. 📈 * Market Stability: The range of potential UK default rates varies widely, with larger industry projections skewed lower, leaving room for possible post-election credit upgrades if the bond and currency markets remain stable. Read the full analysis below and here: https://lnkd.in/gzYj6CYK

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Rachel Reeves and the Treasury have pledged to "embrace" the fintech sector, which could contribute an astonishing £330bn to the government’s coffers over the next five years! According to a policy plan by Innovate Finance, shared with City A.M., the fintech industry is poised to deliver £328bn in tax revenues by 2029. This growth hinges on unlocking institutional investment and streamlining data policies. “Fintech is one of the most obvious drivers for growth in the UK,” said Janine Hirt, Innovate Finance CEO. She emphasized the need for government support through smart data legislation, reviewing payment reimbursement schemes, and focusing on innovation. Despite recent funding slowdowns, the UK remains a global leader in fintech, second only to the US. With strategic support and investment, we can maintain our edge and continue to drive innovation, inclusion, and economic growth. The future of UK fintech looks bright, and with the right support, it will undoubtedly be a powerhouse for our economy. Let’s embrace this opportunity and drive forward! #Fintech #SearchChainPartners #Innovation #EconomicGrowth #UKLeadership

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I was recently asked by Bobsguide to write a piece on the role Consumer Duty plays in building trust in embedded finance. At its core, the Duty is not a novel concept, but codifying this principle into enforceable regulatory standards raised expectations for all players in the ecosystem. As Consumer Duty sets new benchmarks, could it improve confidence in embedded finance and chart a path for further growth? One of the most promising aspects of Consumer Duty lies in achieving a truly collaborative process, laying the foundations for responsible innovation. Here is my take on the topic and the importance of playing fair to win over customers: https://lnkd.in/eeWXYRaW #ConsumerDuty #Embeddedfinance"

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As UK Finance continues to build awareness of the Crypto Asset Reporting Framework, I am pleased to share a link to a blog that David Wren has prepared. Do remember to sign up for our webinar as well. #cryptoassetreportingframework #carf #tax #taxtransparency #taxreporting #crypto #digitalassets #cryptotax #digitalassetstax #tax #taxpolicy

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