Stableton Navigator | OpenAI's GPT-4o Launch, Shein's Strategic IPO Shift & Europe's AI Funding Record
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Welcome to this week's edition of the Stableton Navigator. Shein moves its IPO ambitions to London, planning to file with the London Stock Exchange this month. Additionally, we explore the launch of OpenAI’s new model GPT-4o, enhancing capabilities across text, vision, and audio for all ChatGPT users. Join us for more on the key trends shaping the investment world.
Highlight of the Week
This week marked a significant milestone for OpenAI and the broader AI community with the launch of GPT-4o. The new iteration of the GPT-4 model, now made available to all ChatGPT users, promises enhanced speed and expanded capabilities across text, vision, and audio interfaces. GPT-4o stands out for being "natively multimodal", allowing it to generate content or understand commands across different formats - voice, text, or images. The launch strategically positions OpenAI just ahead of Google I/O. GPT-4o is a big step towards a much more natural form of human-computer interaction.(1)
Market Update
SoftBank leads a significant $1 billion investment in UK-based Wayve, marking Europe's largest AI funding round. This strategic investment highlights the growing confidence in AI technologies and supports the UK's ambitions to be a global AI hub.(2)
Reddit's shares rose by 16% in premarket trading after its first earnings report since going public. The company's revenue jumped to $243 million, beating analysts' expectations. This growth shows Reddit's success post-IPO. In addition, the sentiment for tech stocks and new listings keeps improving.(3)
Portfolio News
 | Shein is advancing its plans for a monumental IPO on the London Stock Exchange, valued at over £50 billion. The company has approached Sajid Javid, the former Chancellor, for a possible role, either on its board or as an adviser. The company's executive chairman, Donald Tang, has also been in talks with other senior city figures. This step positions Shein to become the second-largest IPO in LSE history. |
 | OpenAI is set to elevate Apple’s device capabilities through a strategic integration of ChatGPT into iOS 18. This partnership, poised to be unveiled at Apple’s Worldwide Developers Conference, will embed advanced AI features directly into iPhone operating systems, marking a significant step in OpenAI's expansion into mainstream mobile technology.(4) |
 | Kraken partners with DLT Finance to offer unique crypto products in Germany. This starts around July 10, 2024. The goal is to improve Kraken's services by adding safe, compliant options. It's part of their plan to grow in Europe. The move taps into Germany's increasing interest in crypto. It also aligns well with Europe's upcoming regulatory changes.(6) |
 | Fast-fashion giant Shein is advancing its plans for a London listing following regulatory challenges in the U.S. Valued at $66 billion, Shein aims to file with the London Stock Exchange soon, shifting focus from New York due to U.S. scrutiny. This move positions London as a key venue for major global IPOs and reflects Shein's strategic navigation through complex regulatory landscapes.(7) |
Stableton News
Stableton Highlighted on AQVC Discovery: We are thrilled to announce that Stableton recently was featured on AlphaQ Venture Capital’s AQVC Discovery platform. AQVC Discovery is a market network for investors, VC funds, and service providers that enhances VC market efficiency and transparency by setting standards and digitizing workflows. Our Stableton Unicorn Top 20 Fund is now available there for interested investors. This inclusion not only validates our pioneering strategy but also enhances our visibility among investors looking for opportunities in the top global tech unicorns.
Check out the Stableton fund profile on AQVC Discovery here.
Chart of the Week
Impressive Growth: Year-over-year fundraising for secondary funds rose by 185.4%, showing strong potential and high-return opportunities in the secondary market. This increase indicates growing investor confidence and a thriving environment for expanding and diversifying investment portfolios into secondaries.
The Untold Unicorn Story
Revolut, founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, quickly emerged as a leader in the digital banking space. Known for its rapid expansion and innovative approach to traditional banking, Revolut offers a platform for instant payment notifications, free international money transfers, and global fee-free spending.
Fun fact: Revolut has half a million customers in the country of Lithuania, which doesn’t sound a lot, until you discover that the country has a population of less than 3 million people. This represents about 17% of the country, marking it as one of the most significant presences by a fintech company in any single country.
Q&A and Learning
Are there similar products to the Stableton Unicorn Top 20 Fund?
Stableton's Unicorn strategy is the first of its kind for the private market. It's new and innovative, and we are the only one with Morningstar as a data provider. Stableton has expertise in secondary transactions from 70+ deals and $250 AuM. There are some open-ended products in the same space of late-stage VC, but none offer a systematic approach and the same low fees as Stableton’s product. We are sure the market is changing and expanding, but Stableton is uniquely positioned to lead the transformation for easier access to this segment in an easy-to-invest way combined with attractive fees.
Where to Meet Us
Reach out if you would like to meet
Abu Dhabi, UAE (May 15)
Dubai, UAE (May 16)
0100 CEE Conference, Prague (May 14-15)
Private Wealth Forum UK, London (May 16)
SuperRetun / SuperVenture, Berlin (June 4-7)
AltsHK, Hong Kong (June 13)
Fund Forum, Monaco (June 24-26)
Israel Private Markets Summit, Tel Aviv (July 16)
And, of course, we are always happy to meet you at our main offices in Zurich, Switzerland!
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