Strategic Equity Capital (ticker: SEC) was launched in 2005 and sits in the UK Smaller Companies sector. It runs a concentrated portfolio of 15 to 25 listed companies that mostly have a market value of between £100m and £300m. SEC has net assets of £150m and usually has a net cash position so it can take advantage of any short-term opportunities it sees. The investment style is akin to private equity -- there's a high level of engagement with individual companies and more in-depth research of business fundamentals. SEC was managed by a firm called GVQ from launch until 2020 and Odyssean's Stua...