What do robot dogs, 3D‑printed components and AI‑driven factories have in common?

They were all on display at Hannover Messe, and they’re reshaping how we think about industrial investment.

Spending time on the ground is a key part of our process. It allows us to see which technologies are gaining real traction, speak directly with engineers, and build conviction in the companies we hold.

A few key takeaways:

Not all innovation is investable: Areas like humanoid robotics are exciting, but commercial returns remain uncertain
Enablers are quietly benefitting: We continue to focus on companies such as Allegro MicroSystems and Basler, which support the robotics revolution
Digital twins are scaling: benefitting holdings like Bentley Systems and PTC, where real-world data is driving efficiency and design
Cybersecurity is the growing risk: attracting more interest for companies like Reply and Booz Allen Hamilton

For us, the real value often lies beneath the surface, in the technologies and software enabling long-term structural change.

We’ve pulled together a short write-up on what we saw and how it feeds into the fund. Read the full article here.