Insurance brokers who spoke to Khaleej Times admitted that they have been trying to clear a massive backlog of work
GFH Financial Group (GFH) on Saturday announced the closing of its Global Tech Opportunities II offering, comprising of investments in a portfolio of pre-IPO stage, high-growth companies that specialise in next-generation technologies.
The portfolio provides diversified exposure to tech verticals that are at the forefront of the global digital revolution giving it minority stakes in Automation Anywhere, Tanium, StockX, Rapyd, Scopely, Robinhood, Kraken, Lyra Health and Klaviyo, among others. GFH has invested in the portfolio alongside strategic partners, which include leading and emerging tech-focused asset managers.
The companies operate in some of the most disruptive tech sub-sectors benefiting from secular trends in digital adoption such as cloud and enterprise software, cybersecurity, fintech, mental health, e-commerce and mobile gaming. Further, the companies are driven by highly-capable management teams, command a leading position in their respective domains and are operating at scale across multiple geographies. The investment is expected to generate attractive returns for GFH and its investors.
Prior to this investment, GFH successfully closed its first portfolio offering in the pre-IPO tech space in the fourth quarter of 2020. Already, three of the portfolio companies of that vintage, ie Snowflake, UiPath and DoorDash, have had successful IPOs on the New York Stock Exchange and are currently trading at between four to six times of their late-stage private funding rounds. The portfolio has yielded impressive outsized returns and has commenced cash distributions to investors.
Hammad Younas, chief investment officer of GFH, said: “This transaction marks GFH’s fourth major technology investment offering and second in the US in under a year. It is an area where we continue to focus and strategically expand our portfolio. This investment offers diversified exposure to high-growth, late stage pre-IPO businesses with wide economic moats that make it a unique and compelling proposition. Tech is shaping the future of human society and has brought fundamental changes across economic sectors and businesses. It is no wonder that it continues to be one of the best performing and resilient sectors.”
“As we come out of the Covid-19 crisis, we are actively investing in businesses that will benefit from strong economic growth and are backed by robust long-term fundamentals. GFH will continue to draw on its deep experience in software, fintech, e-commerce and healthcare in an effort to build a transformational technology investment platform. We expect continued dry powder flow into secular compounders as investors are keen to benefit from long-term tech adoption tailwinds, and we believe GFH is well-placed to originate high potential, access-restricted deals across the globe through our network of strategic partners.”
— business@khaleejtimes.com
Insurance brokers who spoke to Khaleej Times admitted that they have been trying to clear a massive backlog of work
The king, 88, was last admitted to hospital in May 2022 for a colonoscopy and medical tests
Court upholds regulator order for the billionaire to take down posts containing footage of the April 15 stabbing of the Assyrian bishop
An extreme heat wave hit the country, forcing the authorities to shut down tens of thousands of schools and seminaries, say officials
Around half the country's provinces are officially in drought, and there's a 50 percent chance of the heat intensifying in the coming days
Homeowners are busy restoring services for the tenants and bringing their properties back to pre-flood level
The University offers an array of 35 accredited programs spread across its six colleges
This one-of-its- kind corporate readiness programme is offered by PwC’s Academy, the learning and development business of PwC Middle East.