TLDR:
- The Church of Jesus Christ of Latter-day Saints makes venture capital investments in various industries, including technology, pharmaceuticals, and energy.
- Investments in companies like Outbrain have seen success, while others like Gossamer Bio have faced challenges.
Article Summary:
The Church of Jesus Christ of Latter-day Saints engages in venture capital investments across different sectors, ranging from tech companies like Outbrain to pharmaceuticals like Phathom Pharmaceuticals and energy companies like SandRidge Energy Inc. While some investments have proven lucrative, like the church’s stake in Outbrain, which was sold for a significant profit when the company went public, others have faced setbacks, such as Gossamer Bio’s declining stock value after its initial public offering. The church’s venture capital investments are managed by Ensign Peak Advisors and its subsidiary Marshfield Advisers LLC, with holdings in companies like Monitronics, Fastly, and aTyr Pharma Inc. These investments provide a peek into the church’s financial strategy and diversification of its overall portfolio.
In the pharmaceutical sector, Phathom Pharmaceuticals has seen success with its drug Voquenza for treating erosive esophagitis, while aTyr Pharma Inc. has faced challenges and accumulated deficits. The church’s investments in energy companies like SandRidge Energy Inc. and tech startups like Outbrain highlight its diverse portfolio across various industries. The article also discusses the uncertainty and risks involved in venture capital investments, with some investments yielding substantial returns while others face financial difficulties. The church’s transparency around its venture capital investments and its compliance with SEC regulations are also highlighted in the article.
