ASX-listed venture fund Bailador is having a busy week investing, ploughing an additional $5 million into financial advice software and investment platform Dash Technology Group to fund its acquisition plans.
Alongside the $5m equity investment, Bailador is also stumping up $5m in a repayable debt facility for Dash to acquire Integrated Portfolio Solutions (IPS), a deal previously announced in July after the VC invested $20 million in the fintech as part of a $22m raise in June. That equity stake involved $15 million now and another $5m in January 2025, which will take Bailador’s total investment to $25 million.
It comes just 24 hrs after Bailador announced a $3m top up for volunteer management software platform Rosterfy, to take its total investment to $12.4m.
Sydney-based 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 administers more than $4 billion on its platform.
It was created two years ago when Wealth02 and Roar Software merged and went on to previously raise capital in December 2022.
IPS, founded in 2012 and administers more than $10 billion worth of investment portfolios for investment advisers, family offices, financial planners, and ultra-high-net-worth clients.]
The entire IPS team will join Dash, including executives Darryl Johnson and Mark Papendieck.
Bailador cofounder and managing partner David Kirk said they’ll also invest $5m in Dash in January 2025 as the final part of its original $20m June investment.
“Dash’s acquisition of IPS will enable it to take to market a comprehensive technology solution that serves the full financial planning spectrum from clients beginning to build their wealth through to ultra-high-net-worth investors and family offices,” he said
“Financially it will see Dash reach over $15bn FUA and a new level of revenue scale from which to grow organically.”
Bailador shares remained steady on today’s news, closing at $1.25.
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