UPDATE: After a share price decline in early 2026 on concerns that AI could reduce software industry revenues, HGT said Hg and its staff planned to increase their collective stake in the trust from 6% to 15% over the medium term, alongside ongoing share repurchases. Valhalla Ventures, the O'Hare family's holding company, has built a significant stake in the trust as well. 

HgCapital Trust (ticker: HGT) was launched in 1989 and has been one of the best-performing trusts over the last 30 years. It invests in around 50 unquoted companies, held via various private equity funds run by Hg Capital, ...