New London manager Robocap plans to open what it is believed to be the first actively managed robotics and automation-focused equities Ucits fund to external investors next month, HFMWeek has learned.
The fund will initially take long positions in companies that produce 3D printers, autonomous vehicles, drones, robots for surgeries, etc., with plans to add shorting in the near-future.
“As of today, there are no other [actively managed] funds in this space focused on listed equities,” Jonathan Cohen, Robocap founder, told HFMWeek. “A lot of investors like this theme.”
Robocap expects to start with day-one capital of $10m committed from a private bank, family offices and asset managers.
The fund has been running internally since May 2014, returning 33% between last May and June 2015.
Cohen is originally from Geneva where he was an equities and hedge funds analyst at Bedrock, acted as an investment professional at Goldman Sachs and took on a CIO role at Huet. He was most recently a senior portfolio manager at London & Capital before starting Robocap.
He is joined by senior investment analyst Heenal Patel.
Sturgeon Ventures acts as the portfolio manager and the fund sits on the ML Capital platform.
Cohen tells HFMWeek that Robocap plans to submit its FCA authorisation in a couple months.