Bailador is one of those have-to-have-faith in the manager propositions – they invest in tech and like to think of themselves as a tech expansion fund. That means though they will regularly be looking for capital to make those investments. 

They have competitors attempting to do similar things, and they all have similar market cap of circa 200M.

Bailador appear to be doing the right thing and co-founder/ Managing Director David Kirk has a substantial holding. At least he has his money where his mouth is which cannot be said for some of competitors. 

Kirk was previously Fairfax CEO and currently is also Chairman of Kathmandu. He was also a former All Black captain. Overachiever!

The investment team seems to have had a decent track record of timing the exists. Lendi at the close of last year is a good example.

The current list of investments is interesting. Saas for hospitality, which I assume has been challenged in the last 12 months although now couple be in for a tear as things open up. There are others in data services, social marketing as well as automation of language translation, and even an online furniture retailer.

Seems like an interesting mix on current valuation worthy of consideration. I’ve taken a parcel in my SMSF where it will be a long term hold (assuming they continue to perform).