The September 2019 quarter has been a highly active period for Vantage Fund’s and its underlying Private Equity funds.
Across the September 2019 quarter VPEG3’s underlying portfolio grew from 18 to 21 company investments. During the quarter, Mercury Capital Fund 3 completed an investment into Squiz, Odyssey Fund 8 acquired FRANKiE4 and Adamantem Capital Fund 1 acquired ASX listed Legend Corporation.
In July 2019 Mercury Capital Fund 3 completed an investment into Squiz, Australia’s largest Content Management System (xCMS) and Enterprise Search business with ~439 employees and operations across Australia, New Zealand, UK, Poland and US.
Also during July 2019, Odyssey Fund 8 acquired FRANKiE4, a leading and award-winning women’s supportive footwear label. Founded in 2011 by podiatrists and a physiotherapist, FRANKiE4’s unique designs and patented support technologies enhance the comfort of customers’ feet, lower limbs and their overall health. FRANKiE4 combines a knowledge of biomechanics with a sense of style, to deliver great footwear that women feel comfortable in and love to wear.
During August 2019, Adamantem Capital Fund 1 acquired ASX listed Legend Corporation in a public to private transaction. Legend is a distributor of products, tools, components and accessories into the electrical wholesale and industrial / commercial gas markets. Legend stocks an extensive range of product lines and is a preferred supplier across all major electrical wholesalers in Australia. Legend’s products are utilised across a diversified range of end markets, including electrical, power, rail, mining and telecommunications.
With the addition of these three new investments, VPEG3’s underlying portfolio now holds interest in 21 companies across 7 Private Equity Funds plus two co-investments as at 30 September 2019. As the portfolio of investments expands and matures throughout the remainder of the 2019 and into 2020, across a broad range of industry sectors, the diversification of VPEG3’s portfolio will be enhanced, along with the overall value of the portfolio.