A $25 million bet on fintech DASH has proved lucrative for ASX-listed venture fund Bailador Technology Investments (ASX:BTI), with the VC announcing a 59% uplift to $44.7m.
The increase is the result of a new yet-to-be announced raise for the Sydney fintech, which has been signed at a 59% increase in DASH’s valuation.
DASH is a cloud-based financial advice and investment management software platform for financial advisers and institutions to provide more affordable, personalised advice to clients. It now has more than $18 billion in funds under advice, an increase of 450% on a year ago
Dash Technology Group was created three years ago when Wealth02 and Roar Software merged, going on to previously raise capital in December 2022. Bailador cofounder David Kirk sits on the board.
The increase in value comes 12 months after Bailador first invested $20 million in the fintech as part of a $22m raise – $15 million then and another $5m in January this year. The fund followed up in October 2024 with another $5m equity investment, as well as $5m in a repayable debt facility for Dash to acquire Integrated Portfolio Solutions (IPS)
The 59% uplift applies to Bailador’s $25m equity investment only, delivering a blended increase of 49% ($14.7m) on the total carrying value which represents an increase in Net Tangible Assets of $0.099 per share (pre-tax).
David Kirk said DASH “has made very pleasing progress” in the 12 months since Bailador first invested.
“This new investment and valuation uplift is a reflection of that progress,” he said.
“Pleasingly, the business has put in place strong foundations for future growth and is well positioned in the wealth management industry which benefits from attractive tailwinds.”
Bailador’s investment portfolio spans 11 tech companies, including SiteMinder, UpDoc, Mosh, $12.5m to lead a $25m Series A for real estate investment platform PropHero earlier this year, and a $12.4m investment in volunteer management software platform Rosterfy.
Daily startup news and insights, delivered to your inbox.