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Market Matters with Lucie Majstrova from Baillie Gifford
Description
In this month’s episode, our guest is Lucie Majstrova, investment specialist for private companies at Baillie Gifford. We discuss a range of topics including the investment case for private companies, why companies are staying private for longer, her thoughts on Anthropic and the most compelling opportunities across private markets.
00:00 Introduction
00:34 Background to asset management
01:28 Investment case for private companies
03:31 What is growth capital
05:06 Why companies are staying private
07:44 Potential IPOs of private companies
08:26 Misconceptions around growth equity
11:16 Thoughts on Anthropic and AI labs
13:58 Growth trajectory of SpaceX
16:44 Benefit of investment trust structure
18:27 Most exciting opportunities
19:49 Risk warning
Please note that this podcast was recorded on 11 February 2026.