February 24, 2016

AFR: Founders double investment as Bailador seeks tech gems

by Paul Smith, Technology Editor Australian Financial Review via www.afr.com.au

Co-founders of ASX-listed technology investment firm Bailador, David Kirk and Paul Wilson, will double their personal investment in the company to $11.3 million as it looks to expand its portfolio of start-up players.

The company which listed a year ago, is emerging from an options exercise period, which entitles shareholders to up their stake at a price of $1 per option. Mr Kirk and Mr Wilson said they were taking up their full entitlement of 5.6 million options for $5.6 million in cash.

Bailador has been in existence for five years and has pulled together a portfolio of tech players founded in Australia and New Zealand, but with designs on global expansion.

Mr Kirk said the pair were actively involved in advising all of Bailador's investments and would look to expand the portfolio to around 10 to 12 with increased funding.

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