- Growth capital fund Bailador Technology Investments (BTI) has entered into an agreement to sell all its securities in portfolio company Standard Media Index (SMI) for about $20 million in cash.
- The sale price represents an uplift of approximately 67 per cent to the current carrying value of SMI
- With a valuation uplift of $8 million, it is an increase of 6 cents NTA per share
- Bailador says it will provide an update on further context once certain conditions are satisfied
- BTI shares are up 1.2 per cent, trading at $1.26.
Growth capital fund Bailador Technology Investments (BTI) has announced that it has entered into an agreement to sell all its securities in portfolio company Standard Media Index (SMI) for about $20 million in cash.
The sale price represents an uplift of approximately 67 per cent to the current carrying value of SMI. With a valuation uplift of $8 million, it is an increase of 6 cents NTA per share.
Bailador has not disclosed any context in its press release but said the company will provide an update on further context once certain conditions are satisfied.
The company has said that it usually invests $5 million or more in businesses within the technology sector that are seeking growth stage funding, typically companies that have been in operation from two to six years, have a proven business model with attractive unit economies and have the ability to generate repeat revenue.
Bailador’s current portfolio is made up of 10 companies, including SiteMinder, Instaclustr and Access Telehealth.
All companies in its current portfolio except Access Telehealth and Mosh saw an increase in their valuations.
The market has reacted positively with Bailador shares up 1.2 per cent at $1.26 at 12:04pm AEDT.