Bruce Ou – Private Market Investing at GroveStreet (EP.347)
Oct 30, 2023
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Bruce Ou, Managing Partner of GroveStreet, discusses middle market buyouts, venture capital, and growth equity investing. He shares insights on opportunities in China and co-investments. Bruce also reflects on his journey from China to the US and the history and current state of GroveStreet as a private market investing firm. He talks about their investing preferences, due diligence process, and cautious approach to investing in China. Bruce also explores their strategy for participating in the secondary market and shares personal anecdotes about his immigrant experience and professional influences.
GroveStreet specializes in managers that transform companies in venture capital, growth equity, and middle market buyouts.
GroveStreet prioritizes alignment, expertise, and transparency in the investment process to provide value to clients.
Deep dives
Bruce O's Path to Investing
Bruce O began his investing career in 2006 after working in strategy consulting and M&A advisory. He got introduced to venture capital through contacts and eventually joined Grove Street.
Grove Street's History and Approach
Grove Street was founded in 1998 by Catherine Crockett and Clint Harris. They focused on building a company that could compound its success by aligning with long-term investors and targeting opportunities in less efficient market segments. Senior members of Grove Street commit personal capital alongside clients, and talent is prioritized in the team.
Grove Street's Business Today
Grove Street has been in business for 25 years and has served 14 clients, managing $10 billion in total. Their clients include family offices, insurers, pensions, and sovereign wealth funds. Clients value Grove Street's expertise, alignment, and transparency in the investment process.
Investment Strategy and Opportunities
Grove Street focuses on venture capital, growth equity, and low-to-mid market buyouts. They look for operationally intensive teams, strong alignment, low loss rates, and expertise in specific sectors or strategies. They actively source opportunities, build networks, and independently assess the quality of investments.
Bruce Ou is the Managing Partner of GroveStreet, a boutique firm that has invested $10 billion in the private markets on behalf of fourteen institutional clients. GroveStreet specializes in managers that transform companies in venture capital, growth equity, and middle market buyouts.
Our conversation canvasses Bruce’s emigration from China, thoughts on middle market buyouts, venture capital, and growth equity investing, opportunities in China, and co-investments.