Broker pressures Seek to unlock VC fund’s $2.3b valuation
Morgan Stanley urged jobs site Seek to make major changes to its disclosure around the $2.3 billion venture capital fund on its balance sheet, given some investors are treating its VC interests as effectively worthless.
Seek’s co-founder, Andrew Bassat, runs the Seek Growth Fund as its chairman and chief executive. It was spun out of the larger company three years ago and Seek still retains an 84 per cent equity interest.
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