AMC on StartUp Investments

Note: GenTwo is a platform provider for structured products. This information is intended for professional investors only.

What is this product?
 

The AMC on StartUp Investments is an actively managed certificate that gives investors access to a diversified portfolio of high-growth, early-stage private companies, managed by Alphen Asset Management AG through a structured product that removes the operational complexity of direct startup investment.
 

How does it work?
 

The certificate tracks a notional reference portfolio of private startup equity stakes and cash, managed by Alphen Asset Management AG, with the Strategy-Level calculated daily as the aggregate value of all holdings converted to USD. As an open-end structure with no fixed maturity, the certificate runs indefinitely until either the issuer or the strategy manager exercises their termination right or an investor requests redemption. At redemption, the certificate settles in cash at the prevailing Strategy-Level on the relevant valuation date.
 

What is the underlying asset?
 

The underlying is a diversified portfolio of private equity stakes in high-growth startup companies, selected and actively managed by Alphen Asset Management AG across a range of sectors. The strategy targets early-stage businesses considered to offer attractive growth potential, with the strategy manager maintaining close working relationships with portfolio companies and monitoring their progress on an ongoing basis. As is typical for startup portfolios, the underlying positions are illiquid and priced based on third-party valuations — generally reflecting the most recent financing round — rather than continuous market pricing.
 

The AMC structure addresses one of the central challenges of startup investing: access. Direct participation in startup equity typically requires navigating complex legal arrangements, managing custody of unlisted securities, and meeting high minimum investment thresholds — operational burdens that the certificate format removes by packaging the portfolio into a single instrument. Alphen Asset Management AG is a Zurich-based, independently licensed asset manager, subject to prudential supervision by AOOS — a FINMA-recognised supervisory organisation — bringing an institutional framework to an asset class that has historically been the preserve of venture capital funds and well-connected private investors.
 

Who is behind it?
 

The certificate is managed by Alphen Asset Management AG, a Zurich-based, independently licensed asset manager, subject to prudential supervision by AOOS — a FINMA-recognised supervisory organisation — which is responsible for selecting, monitoring, and rebalancing the portfolio of startup investments. The certificate is issued by TECH STRG 3.0 PCC Limited, a Guernsey-incorporated protected cell company established specifically for this purpose, with InCore Bank AG (Switzerland) acting as paying agent. GenTwo AG provides the securitization infrastructure

What kind of instrument is this?
 

An Actively Managed Certificate (AMC) is a structured product where the issuer actively selects, adjusts, and rebalances the underlying assets based on market conditions and strategy. Investors gain exposure to this managed portfolio through a certificate rather than owning the underlying assets directly.
 

How can I create my own product?

To learn more about GenTwo's securitization platform simply book a call.