Edinburgh asset manager Baillie Gifford has outlined the scale of its successful investment in Bending Spoons as the Italian technology company makes its market debut via an IPO on Nasdaq.
Bending Spoons was company valued at around than $11 billion in recent funding rounds.
Baillie Gifford holds large investments in Bending Spoons across a number of its portfolios including the Schiehallion Fund and Baillie Gifford European Growth Trust.
Bending Spoons has built a business through acquiring, improving and scaling digital brands and products including Vimeo, WeTransfer and Eventbrite.
Baillie Gifford first invested in the company in August 2023, when it was valued at just under $1 billion.
Since then, it has deployed $192m of clients’ capital across several funding rounds in Bending Spoons. Prior to IPO, Baillie Gifford’s holding was worth around $1.2 billion across funds and client portfolios.
Two of Baillie Gifford’s listed investment trusts have been key participants in the growth of Bending Spoons:
- Baillie Gifford European Growth Trust (BGEU) invested £4.4 million between August 2023 and February 2024. As at June 22, 2026, the holding was valued at £53.2 million, representing around twelve times the original investment and accounting for 13.4% of total assets.
- Schiehallion Fund (MNTN) invested $42 million from August 2023 through to March 2026. As at 22 June 2026, the holding was valued at $385.5 million, representing around nine times the original investment and accounting for 16.7% of total assets.
James Budden, global head of marketing at Baillie Gifford, said: “This investment is further example of Baillie Gifford’s approach of backing exceptional private companies and supporting them as they scale up.
“For clients in Schiehallion and European Growth Trust, this has translated into meaningful value creation within a relatively short period.
“We believe Bending Spoons challenges conventional categories. Rather than a traditional private equity roll-up, it represents a new model for transforming digital applications, improving the underlying product and running them more efficiently.”