The mid-market PE fund has done 31 tech deals since 2016.
“The sell-off on the ASX is helping, and the IPO window is still effectively closed. It will need one or two quarters of a more stable market for it to return, and generally the appeal for an early listing from founders has reduced significantly.”Since the deal was closed Pemba has merged MSL with its existing portfolio company Oolio to form a larger POS software company.
“From a pipeline perspective, it’s the strongest it’s ever been. The reason for that strength is that success begets success,” he said. Alex Nikov, JPMorgan executive director in its Australian investment banking team, tipped that some rival start-ups would be forced to merge to stay afloat.