Blue Whale Capital has launched a UCITS mirror of its LF Blue Whale Growth fund with £25m seed capital from Peter Hargreaves.
The Dublin-domiciled fund will provide access to non-UK investors who have wanted to invest, as well as institutional investors that prefer a UCITS structure.
Hargreaves has once again provided £25m in seed capital, as he did for the original fund launch in 2017, and the fund also has support from non-UK domiciled investors who will be able to access the product during the offer period of 11 September to 25 September in one share class for an annual management charge of 1% and minimum investment of £100,000.
Speaking to Investment Week, Stephen Yiu, manager of the LF Blue Whale Growth fund, said they are hoping to reach £100m in capital by December 2021.
He added the choice to launch now was determined by demand from non-UK domiciled investors in the original UK OEIC alongside conversations from potential new investors.
Since the inception of the fund, assets under management have grown from £25m to over £500m, which began with an investor base of "100% DIY investors".
They have since come to account for less than two-thirds of the fund due to the influx of wealth managers, IFAs, family offices and fund of funds.
Yiu added: "As our first milestone, we celebrate our third anniversary in a small way internally. We have a young team at Blue Whale. I am 42 years old and with the rest of the team (investment, sales, marketing, operations) in their 30s, the average age at Blue Whale is 35. Our journey has just started."