Peter Singlehurst
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Peter Singlehurst: Lessons from Turning Down Stripe, Coinbase and Losing Money on Northvalt
Peter Singlehurst, Harry Stebbings
Bailey Gifford's Edinburgh-based private investment team leverages a 115-year partnership structure to prioritize founder-led companies with high scalability risk, utilizing a "10 Questions" due diligence framework to identify targets generating roughly $200 million in revenue with 70% year-over-year growth. The firm strategically avoids direct large language model investments due to commoditization fears while maintaining significant exposure to global AI infrastructure and biotech sectors, recently citing the rejection of Coinbase and missed opportunity in Stripe as key post-mortems. Shifting toward extended private ownership via secondary rounds and dividends, the managers recycle capital from public markets into de-risked growth stories like Bending Spoons and ByteDance to maximize long-term returns in an environment corrected below 2021 valuation peaks.
Peter Singlehurst: The Most Powerful Investor You've Never Heard of | 20VC #907
Bailey Gifford leverages its unique partnership structure and the evergreen Scottish Mortgage Fund to execute a growth investment strategy that blends public and private market analysis across a concentrated portfolio of mid-to-late-stage companies. By prioritizing cognitive diversity over traditional financial backgrounds and rejecting the standard venture capital label, the firm deploys capital to founders who focus on long-term value creation rather than immediate liquidity events. This approach has yielded substantial returns from over a dozen decades of investing while maintaining strict alignment with the philosophical conviction that share prices are merely uncontrollable outputs of fundamental business progress.