Bailador Technology Investments has announced significant valuation uplifts for two key companies within its portfolio, telehealth platform Updoc and proptech firm PropHero. The combined revaluations contribute a US$8.8 million increase to the ASX-listed venture fund's holdings. This positive adjustment reflects the strong performance and high-growth trajectory of these tech startups, boosting Bailador's Net Tangible Assets.
PropHero's Rapid Ascent
PropHero, an AI-enabled real estate investment platform, saw its carrying value surge by an impressive 45.6% in just ten months. Bailador's initial $8.2 million investment as part of a Series A round has now grown to a valuation of $12 million. This rapid appreciation underscores the market's confidence in PropHero's innovative approach to helping individuals manage investment properties.
Bailador co-founder David Kirk expressed strong enthusiasm for the company's progress since the fund's recent investment. He noted that PropHero has performed exceptionally well and praised the team's continued focus on building a world-leading business. This endorsement highlights the strategic success of Bailador's backing for the high-growth proptech firm.
Updoc's Consistent Growth
The telehealth platform Updoc also recorded substantial growth, with its valuation rising 20.5% to $29.7 million. This marks a total increase of 124% since Bailador's original $13.2 million investment made last year. The profitable startup has already delivered cash dividends to the fund, demonstrating its financial maturity and operational success.
According to co-founder Paul Wilson, this is the third consecutive half-year that Bailador has increased Updoc's valuation. He described this consistent uplift as a testament to the telehealth company's rapid and sustained business growth. This pattern of revaluation signals strong underlying performance and a positive outlook for the platform's future.
Broader Portfolio Strength and Financial Health
These revaluations collectively represent a pre-tax increase in Net Tangible Assets (NTA) of $0.089 per share, a figure to be detailed in an upcoming shareholder update. The positive news from Updoc and PropHero enhances a diverse portfolio that also includes brands like Mosh and Rosterfy. This demonstrates the overall health and potential across Bailador's various technology investments.
The announcement follows a solid performance in the previous fiscal year, where the fund delivered a portfolio return of 7.8% and a fully-franked dividend to shareholders. Bailador's strategy of identifying and nurturing high-growth companies is further evidenced by past successes, such as a significant uplift in its investment in DASH. This track record reinforces the fund's capability in the venture capital space.
In conclusion, the substantial valuation increases for PropHero and Updoc underscore the success of Bailador's investment thesis and the robust growth within the technology sector. The strong performance of these portfolio companies provides a positive start to the fiscal year, reinforcing investor confidence. This momentum positions the venture fund for continued success as it cultivates its portfolio of innovative businesses.
Source: StartupDaily