Blackpeak Capital is pleased to present the March 2021 quarter update for the SaaS market – click on the link below:
SaaS market update – March quarter 2021 vF
For more information contact:
Scott Colvin
+61 416 335 455
Blackpeak Capital is pleased to present the March 2021 quarter market update for the IT Services sector – click on the link below:
IT Services market update – March quarter 2021 vF
For more information contact:
Scott Colvin
+61 416 335 455
Blackpeak is pleased to announce that it acted as financial adviser to Elevio on its sale to Dixa. Elevio (https://elev.io/) has an intelligent knowledge-centered platform that enables teams to deliver contextual knowledge to customers, support agents and internal teams. Dixa (https://www.dixa.com/) has a customer service software platform that enables brands to serve customers across multiple channels from a single screen including social media, chat, voice and messaging apps, enabling an outstanding experience for both customers and agents.
Announcements from Elevio and Dixa are below:
https://elev.io/blog/elevio-acquired-by-dixa
https://www.dixa.com/blog/dixa-acquires-australian-knowledge-ai-platform-elevio/
Below is a link to an AFR article on the deal.
https://www.afr.com/technology/airtree-blackbird-score-from-us15m-elevio-acquisition-20210217-p573bb
Blackpeak Capital is pleased to present our latest Fintech market update for the December Quarter 2020 – click on the link below:
Fintech Presentation – December 2020 vF
For more information contact:
Tom Ng
+61 490 796 752
tom.ng@blackpeakcapital.com.au
Blackpeak Capital is pleased to present the December 2020 quarter update for the ANZ technology market – click on the link below:
Summary Tech Presentation – January 2021 vF
For more information contact:
Scott Colvin
+61 416 335 455
Blackpeak Capital is pleased to present the December 2020 quarter update for the SaaS market – click on the link below:
SaaS market update – January 2021 vF
For more information contact:
Scott Colvin
+61 416 335 455
Blackpeak Capital is pleased to present the December 2020 quarter market update for the IT Services sector – click on the link below:
IT Services market update – January 2021 vF
For more information contact:
Scott Colvin
+61 416 335 455
Blackpeak is pleased to announce that it acted as financial adviser to Studiosity on the sale of a minority interest to OES and CVC Emerging Companies Fund. Studiosity is the leading online academic study support platform for universities in ANZ and UK & Ireland. The transaction positions Studiosity for continued global growth with the support of strong partners.
Below is a link to an AFR article on the deal.
Blackpeak is pleased to announce that it acted as financial adviser to Phocas Software on its A$45m growth equity raising. Phocas is a leading provider of data analytics software solutions for the manufacturing, distribution and retail industries.
Below is a link to the announcement from Phocas and the AFR article.
https://www.phocassoftware.com/business-intelligence-blog/phocas-raises-45-million-in-capital-raise
https://www.afr.com/technology/data-analytics-company-phocas-raises-45m-20210126-p56wyb
The 176 recent Tech SPACs in the market are breaking open the private equity world to allow the younger and sometimes more speculative companies into the public markets. PE, later stage VC, and strategics are no longer the only option.
Simultaneously, the oceans of cash in pensions, hedge funds, institutional investors, family offices, and Robinhood accounts can now play in the early stage technology company arena – it’s a brave new world.
Do not get me wrong! This is a much higher-risk world of investing, where single investments and companies can crash and burn overnight. You are not investing in Disney-type companies.
The results so far are spectacular. The 41 announced or closed Tech SPACs are up 60%, with only 3 below their $10 issue price. Valuations are up and stock performance is slightly down on recent SPAC deals. The 27 closed deals are up 76%, with a 7.3x revenue multiple, and the 14 announced deals are up 43%, with a 13.7x revenue multiple.
There have been 16 Tech SPAC filings in the last two weeks, including Thoma’s $900M SPAC. The median raise is $225M, down from $284M on the most recently closed SPACs, and the warrants are trending from 1/2 to zero. In fact, Thoma filed their IPO with 1/5 warrants, then filed an amendment taking public warrants down to zero – telling! The median EV is down slightly from $1.7B to $1.5B, and this trend should continue because median SPAC proceeds are coming down. SoFi just announced at ~$9B EV, up 60%, and Achronix at $2B, up 12%. Interesting that SoFi was announced just 3 months after completing their IPO. The 27 closed SPACs were announced roughly 16 months from IPO, and the 14 announced SPACs were 7 months. Expect more SPACs to be finding and announcing their acquisitions at a faster pace, as the SPAC market gets more fluid and institutionalized.
With 41 Tech SPACs announced or closed and 135 in or soon to be in the market for acquisitions, we have massive experimentation for this new world of earlier stage public tech companies. We are already seeing deal size getting smaller, driven by far more acquisition targets at sub-$1.5B values. The public warrants are trending down or going away completely. Announced valuations are going up, which may have a dampening effect on aftermarket performance and hedge fund and institutional investor demand. The common and core mission for sponsors, PIPE investors, and acquired companies should be to fund quality tech companies ready for the public limelight that are priced for success.
Click to download AGC’s report: AGC-SPAC-Update-Jan-2021