Thorney Technologies (TEK) saw H1 revenues and profits rise across both TEK and the long-only Thorney Opportunities Fund (TOP), with an 80 cent interim dividend announced by the latter.
Speaking to ausbiz.com.au, CEO Alex Waislitz said Thorney invests in both listed and unlisted tech assets across Australia and North America.
“Fintech… we’re in life sciences, medical technology. Doctor Care Anywhere [Group] is one that floated recently and is very exciting tele-health company. Ag tech as well,” he said.
“Thorney Opportunities [invests in] more traditional types of companies. I suppose you’d call them value-driven or turnaround situations – under-appreciated stocks in the market that require a little nudge or push to get on with some hard decision making.”
Alex says portfolio outperformance over the last half was driven by the buy-now-pay-later names.
“In particular, Zip, which we’ve been a backer of for a while, has done extremely well. But in addition, we have an unlisted portfolio and we’re very active in the pre-IPO space,” he said.
“Some of those companies came to market during the last six months and came on very well in terms of the IPO. Some of those are Booktopia… Cluey, and that’s even continued in the new year with an IPO in Canada of a company called Banxa.”
With tech stocks prices under pressure this week, and BNPLs among the hardest hit, he’s now looking to buy the dip.