Redeye initiates coverage of Collaxio, a specialised investment company providing rare public-market access to a diversified portfolio of unlisted Nordic growth companies. In a venture capital market where invested capital has declined by 72% since 2021, we believe Collaxio offers a unique proposition for asset owners seeking diversification, cost-efficient active portfolio management, and the benefits of a listed instrument. Trading at a c62% discount to NAV, we argue that investors are overlooking Collaxio’s window of opportunity arising from the current contraction in the VC market
