Baillie Gifford Funds Slash Value Of Holdings In Dailyhunt Parent VerSe By Up To 80%
Two funds managed by Scottish investment firm Baillie Gifford recorded significant writedowns on their VerSe Innovation stakes between 2024 and 2026. Pacific Horizon cut its holding value by 80.3% from $27.7 million in July 2024, while Schiehallion Fund reduced its position by 78.2% from $34.31 million in January 2025. The markdowns imply VerSe's valuation has plummeted nearly 90% from its $5 billion peak in April 2022, though the company has disputed earlier valuation assessments from other investors.
Key points
- Baillie Gifford funds recorded 80%+ markdowns on VerSe stakes
- Implied valuation now ~$576 million, down from $5 billion in 2022
- VerSe has not completed a fresh funding round since April 2022
- Company previously disputed lower valuations from other investors
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