Bombora Investment Management Special Investments Growth Fund - Investor Presentation Confidential Oct 2021
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Bombora Investment Management
Special Investments Growth Fund
Investor Presentation • Confidential • Oct 2021
Bombora Special Investments Growth Fund
Bombora is taking applications for the Bombora Special Investments Growth Fund (“Fund”), to provide investors with actively managed exposure to pre
IPO & active managed listed equities and co-investment opportunities.
01 02 03 04
Bombora has returned Large investment High quality and Differentiated offering
c.30% per annum over team with over 200 unique investment with co-investment
the last eight years* years experience opportunities opportunities
*The Fund was launched in June 2018, founded by the Bombora investment team which has a demonstrable 5-year track record delivering c.30% p.a. returns in prior deals and investments
2
Bombora Performance (Rolling - as at 30 September 2021)
1 Month 3 Months 12 Months 3 Years Since Inception* Since Inception*
Compound Annual Return Compound Annual Return Total Return (not annualised)
Bombora Special Investments
4.8% 12.0% 29.3% 28.9% 28.4% 130.2%
Growth Fund
Small Industrials Index -1.8% 2.9% 25.7% 6.5% 7.1% 25.5%
Outperformance 6.6% 9.0% 3.7% 22.4% 21.4% 104.7%
• $100,000 invested with the Fund at inception would have grown to $230,233 as at 30 September 2021 (net of fees)
• The compounded annual return since inception is 28.4%. The total return (not annualised) since inception is 130.2%.
• Prior to the incorporation of the Bombora Special Investments Growth Fund in June 2018, the strategy delivered c.30% CAGR over a 5-year period.
*Inception date: 1 June 2018
3
Performance Since Inception (To 30 September 2021)
2.40
2.30
2.20 The Fund has returned
2.00
+130.2% (net of fees) in the
period since inception
1.80
1.68
1.60
$100,000 invested
1.40
1.25 with the Fund at
1.20
inception would have
1.00
grown to $230,233 as
0.80 at 30 September 2021
(net of fees)
0.60
Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21
Unit Price ASX Emerging Companies Normalised ASX Small Industrials
*Inception date: 1 June 2018
4
Bombora Partners
Distribution Research Investment Platforms
• In June 2020, Bombora partnered with • In December 2020, SQM Research The Fund is approved as an
Seed Partnerships for the sales and conducted and released an second authorised Wholesale Fund
distribution function of the Fund independent review, rating the Fund as a on the following Platforms:
“Superior, High Grade Investment”
• The alliance was formed to assist with • Macquarie Wrap IDPS Menu and
growing the number of Unitholders and • In January 2021, Evergreen ratings Macquarie Wrap Super Menu when held via
the Funds Under Management in a released an initial review of the Fund, a separately managed account
measured way to Seed’s network of providing a “highly commended” research • BT Panorama IDPS
clients rating, the highest rating of the research • HUB24 IDPS Investment Menu
house. • Netwealth Wrap
• This is an important partnership which
• A copy of each report is available on • Ausmaq
allows the Bombora team to focus on
managing the fund, while achieving the request
corporate objectives of the group
5
Bombora Investment Team
Team Mike Hill (Managing Director and CIO)
David Willington (PM – Equities)
Bryan Zekulich (PM – Pre-IPO)
Emily Mohan (Associate)
Experience Garren Robbins (Associate)
Abbie Wang (Analyst)
Matthew Hutchinson (Analyst)
The Bombora team is made up of
the Investment Team,
complemented by Industry
Specialists and supported by an
Independent Chair as part of the
Investment Committee. Investment Industry
Committee Specialists
Brett Chenoweth (Chairman) Brett Chenoweth
Mike Hill Chris Colfer
David Willington Julian Knights AO
Bryan Zekulich Greg Ruddock
6
Our Difference
Traditional Fund
Managers
Seek listed
Originate unique opportunities
equity opportunities We create, structure & invest in opportunities through their deep transactional and capital
markets expertise
Passive Active Investments
Investments
Bombora drives value in our investments via active, collaborative and strategic participation
Public Liquid Pre IPO and Equity linked investments
Investments
Bombora’s pre-IPO strategy will take equity positions in private companies where there is an aim to IPO in 3-
24 months and will hold interests in publicly listed companies.
Generalist Team of proven operators in target sectors
Investor Team
Bombora utilises industry specialists to leverage global networks and ensure deep domain knowledge
7
Bombora Cash and Liquid
Listed Equities
Target 20-40%
Portfolio
• 10-20% cash; and
• 15 – 30 liquid listed equity investments,
increasing portfolio diversity
Actively Managed
• A concentrated high conviction Pre IPO
portfolio of between 25 - 50 40-50%
• 10 – 20 individual investments at any
holdings one time
• Average individual investment size of
• Diversification of investment •
3–5 % of the portfolio
Investments spread across key
theme and industry sector investment themes and sectors
• More than 50% actively managed by
• Detailed due diligence process designated member of the Bombora
team
with unanimous Investment • Includes convertible note and special
Actively Managed situation opportunities
Committee approval required
for each investment Listed Equities
20-30%
• Strong selling discipline • 6–10 actively managed investments, often from
pre IPO portfolio
• Average individual investment size of 4–7% of the
portfolio
• 5–20% issued equity of each company
• Active positions managed by designated member
of the Bombora team
8
A Typical Pre IPO Investment Lifecycle
• Bombora Board Representation and active management of investment throughout
• Average 3 year holding period
Screen & Identity Structure Pre IPO Invest ASX Listing M&A Exit
Target Industry Sectors Target Company Characteristics
• Technology • High earnings growth
• Telecommunications • Attractive industry dynamics
• Media • Strong gross margins
• Healthcare • Strong management and culture
• Financial Services • Sustainable competitive advantage
• Infrastructure and related services • Scalable business model with operating leverage
• Strong balance sheet and sustainable funding model
• Valuation discount to peers
• Identifiable catalyst for closing valuation discount
9Bombora Targets Emerging Growth Companies
VALUATION /
GROWTH RATES
Venture Capital Traditional Funds
EARLY STAGE EMERGING GROWTH MATURITY REINVENT
10Portfolio Activity – Active Listed Equity Positions
ASX• JAN ASX• DMC
ASX • BMT
BEAMTREE HOLDINGS JANISON EDUCATION DESIGN MILK CO
LIMITED LIMITED LIMITED
• JAN delivers high-scale, online • DMC is a leader in the modern design
• BMT (previously PKS Holdings
assessments to millions of students in and digital media and e-commerce.
Limited) is a health analytics and
more than 120 countries • DMC had a record 4QFY21 and
knowledge platform company.
• The current financial year has started continues to prove the business case
• BMT recently acquired Potential(x), a
well with additional ICAS and PISA for conversion of the 9m strong social
complimentary and market leading
customers signing up the schools- audience.
specialist health and human services
based assessments. • Total Income in 1QFY22 has been
data analytics firm.
• JAN also announced the bolt on strong and above budget. Some
• The acquisition takes pro forma
acquisition of Quality Assessment encouraging revenue trends are also
revenue to more than $20m p.a.
Tasks in early October which will add being achieved as advertising revenues
• Bombora listed BMT in 2019 at ~$22m to the basket of assessment products are returning post US lockdowns.
market cap and now has a market cap and capability
of ~$140m
• In 1QFY22, the shares rose 41.7%
11Portfolio Activity – Active Listed Equity Positions
ASX • MPA ASX • BEX ASX • GTI
MAD PAWS HOLDINGS BIKEEXCHANGE GRATIFII
LIMITED LIMITED LIMITED
• MPA is an Australian pet services • BEX, the world’s largest global cycling • GTI is an enterprise loyalty and
marketplace. marketplace rewards company that allows brands
• MPA recently successfully launched • BEX continues to develop its to track and collect customer
fresh food, kibble and subscription ecommerce first strategy, creating interactions across multiple touch
treats into its 110,000 plus database. greater levels of customer interaction points.
• Leading into the forthcoming holiday and transactions on the platform. • GTI recently launched its unique
period, we expect MPA to be a • New additions to the executive team, turnkey solution for Rewards as a
beneficiary of the open borders and increased marketing spend and further Service (RaaS),
projected increase in travel. development of the concierge service • The Company also successfully raised
• The market has picked up on this is driving greater conversion. $1.5m via a convertible note offer to
opportunity and the shares rose • BEX is also pursuing a number of M&A fund the increased pipeline of activity
+31.4% for 1QFY22. opportunities, designed to enhance the and accelerate new Mosaic module
customer experience and build scale in development.
its operating geographies.
12Portfolio Activity – Active Pre-IPO Positions
90 SECONDS HOLDINGS MARKETPLACER LVX
EZYCOLLECT HOLDINGS
LIMITED LIMITED GLOBAL
LIMITED
• 90 Seconds is a global video • Marketplacer provides a global • LVX is a global technology
technology platform which company, offering end-to-end • EzyCollect is an intelligent SaaS
creation platform for 200 of the
enables enterprise customers to solutions for smart cities, smart accounts receivables & payments
worlds largest brands.
create online marketplaces buildings and Internet of Things. platform that helps business to
• During the 1QFY22 the Manager, reduce late payments and
through Bombora SPAC Murri • The Woolworths national everyday • LVX is in the final stages of empower business growth.
Holdings Limited, entered into an marketplace was recently signing a record contract, (A$4m),
launched via the platform with Harvey Norman’s Property • In August 2021, Bombora
agreement to acquire 100% of the
Team, to design, deliver and cornerstoned a $6.2m capital raise
share capital in 90 Seconds Pte. • The company was also named as
provide technology and support into EzyCollect with David
Limited via a share purchase the leader in the recent Forrester
services to smart solutions for its Willington joining the board as the
agreement (SPA) New Wave Report for Marketplace
new $140m McGregor Chair.
• Completion of the transaction is Development
Homemaker Centre in Brisbane. • EzyCollect has over $12B in
expected by the end of Oct/early • A $37m capital raise was
• LVX has a current qualified receivables under management,
Nov 2021 and will value 90 completed in Sept 21, to fund
pipeline of in excess of A$36m and more than 350,000 network
Seconds with an EV of $78m. growth initiatives and a small
and is comfortably on track to members.
minority shareholder sell down at
a pre-money valuation of $150m deliver on the budget for FY22. 13Recent Portfolio Activity
AORAKI
T UCROO
ORBX INVESTMENTS AORAKI HOLDCO DEMYST DATA
INC. LIMITED LIMITED
LIMITED
• Ucroo provides a modern,
• Aoraki is a SPAC recently • Demyst Data Limited is a platform
• Orbx develops and provides high personalised digital campus that
incorporated alongside Julian which provides data solutions to
quality scenery and flight replaces outdated student portals.
Knights and Kerry McIntosh, large customers via an enterprise
simulation content • The business continues to execute on based in NZ (both ex Ironbridge). SaaS model.
• Orbx continues to benefit from the their growth strategy and have added
• Aoraki has been established to • The company connects to external
demand for “stay-at-home” a number of impressive higher
acquire a NZ based high growth data sources, certifies the data,
gamers adopting, using and education customers in the USA over
technology business which will list curates the data and then deploys
buying Orbx flight simulation the quarter.
on the ASX. use case scenarios for their
content • In August 2021, launched a US$3.0m
• This is an exciting evolution of the clients.
• The key partnership with pre-IPO capital raise at an issue price
Bombora process in identifying • The Manager added Demyst to the
Microsoft now includes the launch of $1.85 per share, which closed
quality, high-growth companies in portfolio in the quarter to 30 June
of its flight simulator on the new oversubscribed. Funds raised will be
specific geographies 2021 through the company’s
Xbox platform on 27 July 2021. deployed on sales and marketing,
• Term sheet discussions already in convertible note offer. Funds
• Orbx is progressing towards an bolstering key functions within the
place raised will be used to drive growth
IPO over the next 6 months. business as well as providing a strong
and prepare the company for an
working capital position ahead of an
IPO within a 12–18-month period. 14
ASX listing in the 1HCY22.Activity Pipeline and Co-investment Opportunities
5 – 10 New Opportunities
Co-investment Opportunities in Progress Latest Investments Actively Managed Portfolio
Per Week
Unlisted Portfolio
Insurance
tech ecom
logistics
Healthcare
roll-up
E-commerce
roll-up
Food-tech
Listed Portfolio
HR
Technology
Education
tech
Services
marketplace
Screen, negotiate & diligence Execute and invest
15Fund
Details
Investor Presentation • Confidential • Oct 2021AN OFFERING TO WHOLESALE CLIENTS
Special Investments Growth Fund
• The Bombora Special Investments Growth Fund (Fund) uniquely provides investors with an actively managed portfolio of Pre IPO and Listed Equities in high growth companies
Overview • The objective of the Fund is to construct a concentrated, high conviction portfolio of unique growth opportunities to deliver strong positive risk adjusted returns for investors over the
medium to long term
Investment • Fundamental bottom up research, screening, diligence and structuring to provide investors with actively managed exposure to:
• Pre IPO & co-investment opportunities; and
Strategy • Active managed listed equities
• Team consists of professional executives, each with over 20 years experience in investments over multiple industries and geographic markets
Investment • Bombora uses Industry Specialists to help drive value in our investments
Manager • Experience spans funds management, direct investment, private equity, mergers & acquisitions and equity capital markets
• Bombora team are proven operators being Executives, Directors and Advisors to both private & public companies
Investment • The Fund has returned +29.3% in the 12 months to 30 September 2021 and +130.2% since inception
• The Fund performance to date has been achieved with high levels of cash holdings and excludes further upside generated from incentive securities issued
Performance • The Bombora strategy prior to the Fund launch (2013 – 2018) generated a CAGR of 29.6%.
• Fund Structure Unregistered Managed Investment Scheme structured as an Australian Unit Trust for WHOLESALE CLIENTS
Offer • Information Memorandum: August 2020
Details • Fee Structure 1.5% Management Fee & 20% Performance Fee for fund outperformance over hurdle rate of 7%
17Key Fund Features
Fund Name Bombora Special Investments Growth Fund (Fund)
Investment Manager and Trustee Bombora Investment Management Pty Limited (Bombora) ACN 625 413 390
Custodian and Administrator Mainstream Fund Services (part of the ASX listed entity Mainstream Group Holdings (ASX: MAI)
Fund Type Pre-IPO and Australian listed equity portfolio
Suggested Investment Horizon 3-5 years
Investor Eligibility Wholesale Clients, as defined in the Corporations Act 2001
Minimum Investment $50,000
Minimum Redemption $50,000 (subject to a minimum balance of $50,000)
Buy/Sell Spread 30 basis points
Fees and Expenses • Management fee of 1.5% p.a. of the Fund’s net asset value calculated and payable monthly in arrears
• Performance fee of 20% p.a. of the returns in a performance fee period exceeding the higher of the previous high-water mark and the hurdle rate. The performance fee is calculated and
payable quarterly in arrears
• The Trust incurs cost recovery to a maximum of 1% p.a. of the Trust’s net asset value
Hurdle Rate 7% p.a. (inclusive of management fee and cost recovery accrued)
Application Frequency Monthly
Valuations Unit price calculated monthly
Distributions Annually as at June 30. Distributions are automatically reinvested unless instructed otherwise
Redemption Frequency Quarterly
18Appendix 1
Case
Studies
Investor Presentation • Confidential • Oct 2021Marketplacer Holdings Limited – Pre-IPO
Marketplacer has powered globally successful online marketplaces for over 10 years
Overview Commentary
Sector Information Technology • Marketplacer provides the technology and infrastructure needed to establish and maintain online
marketplaces for retail and B2B customers.
Industry E-Commerce
• Marketplacer has numerous revenue streams including recurring SaaS fees, Server Call fees on
Location Australia transactions made on the Marketplacer software, Consulting and Implementation fees as well as
partnership fees (% share of the fees earned by enterprise partners such as Afterpay).
Investment Date Oct-19
• The Company has spent the last 10 years focusing on the development of core technology as
Current Valuation A$180m1 well as the capability to implement complimentary software solutions. The company is now
pivoting focus to growing its sales team and winning contracts to develop online marketplaces
Entry Valuation A$51.0m for enterprise customers, especially large retailers.
Board Observer Bryan Zekulich • Marketplacer is also looking to ramp up global expansion and has a long term vision for being
the “world’s factory” for developing large-scale online marketplaces.
Website www.marketplacer.com
• A special purpose acquisition company was created by Bombora called Cmint in mid 2019
which then acquired Marketplacer and will became the front door listing vehicle in 2021
Marketplacer Customers
• Bombora structured and led a $19.0m raising in the form of ordinary equity in CMint Limited
(“IPO Company”) termed a “Pre IPO capital Raise”.
• The pre-IPO capital raise was used to fund the following growth strategies:
• Accelerate sales pipeline and contract wins, especially with large retail customers
• Geographical expansion beyond existing geographical reach
• Repayment of Marketplacer’s existing debt
• Post settlement, the Marketplacer used a portion of the cash raised to pay down $10.5m of debt
20Mad Paws Holdings Limited – Pre-IPO / Listed Equity
Mad Paws is Australia’s leading pet services technology platform with 110k+ paying pet customers, 25k+ pet carers and 3k+ subscribers
Overview Thesis
Overview
Sector Information Technology • Mad Paws is Australia’s #1 Pet Services technology platform, which has built a marketplace
connecting over 110,000 paying pet customers with 25,000 pet carers, along with ~3,000
Industry E-commerce active subscribers for its Waggly and Dinner Bowl services
Location Australia
• Mad Paws is exposed to the fast growing pet industry in Australia, with an estimated TAM of
+$13bn(2). Mad Paws had a GMV of $12.6m in FY21, growing 24% YoY
Investment Date Dec-20 • The Mad Paws founding investors and senior leadership team have a successful track record
with online marketplace and ecommerce businesses including Spreets, Airtasker, Marley
Current Market Cap A$50m1 Spoon, AWS and Vice Golf
Board representative Mike Hill • Mad Paws successfully acquired the dog treats and toys subscription business Waggly in June
Thesis
2021 for $3m, expanding its subscription business and leveraging its existing customer base
Share Price Since Listing Timeline to IPO
Dec 20 • Bombora’s seed-funded Special Purpose Acquisition Company (SPAC) Arugam
0.28 Holdings Limited raised $5.6m through a pre-IPO convertible note
0.26 7.7% • Simultaneously, Arugam completed a scrip-for-scrip acquisition of Mad Paws Pty
0.24 Ltd (Mad Paws)
0.22
(4.2%) • The capital raising was well supported by institutional investors and Bombora co-
investors, providing a solid day 1 register
0.20 • Bombora led IPO preparations immediately post convertible note raising
0.18
0.16 Jan 21 • Mad Paws completed its IPO book build in Feb 2021 and successfully listed on
the ASX in Mar 2021
0.14
• Mad Paws listed at a market cap of $42.9m at $0.20 per share, which closed at
0.12 $0.24 on the first day of trading
0.10
Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Today • Bombora continues to hold ~16% of Mad Paws with Mike Hill on the Board
ASX: MPA ASX Small Ind. (rebased)
• Mad Paws currently has a market capitalisation of $50.5m at a $0.23 share price
1. As at 30 September 2021. 21
2. Animal Medicines Australia, Pets in Australia (2019): A national survey of pets and people.Beamtree Holdings Limited – Cornerstone Investment
Beamtree (formerly PKS) is a leading software technology company in the large and fast-growing global healthcare solution market.
Overview Overview
Overview Commentary and acquisition Overview
Sector Health Care Equipment & Services • Beamtree (formerly PKS) provides a highly scalable, proprietary subscription-based Clinical
Decision Support, that enables automation efficiency in pathology and hospitals
Industry Subscription software distribution
• A special purpose acquisition company was created by Bombora called Qpro Holdings in
Location Australia, New Zealand, Singapore, Malaysia, South Africa, Europe, USA October 2018 which then acquired PKS Holdings Ltd and became the front door listing vehicle
on the ASX in June 2019
Investment Date Jun-19
• In April 2020, Beamtree acquired 100% of Pavilion Health in an all scrip transaction at $8.5m
Current Market Cap A$145m1
implying a 1.9x FY19 revenue multiple and 5.1x FY19 Operational EBITDA multiple. The
acquisition of Pavilion Health is consistent with Beamtree’s growth strategy to acquire
complimentary healthcare technology companies and expand beyond pathology into the
Acquisition Value A$19.5m
hospital sector
Board representative Mike Hill • In August 2021, Beamtree acquired healthcare analytics firm Ainsoff for $1m through a mix of
cash and scrip. Ainsoff is a clinician-led healthcare analytics company with three ready-for-
market product applications that reduce the risk of death for seriously ill patients in hospital
Share price performance (last two years) and automate other key clinic processes
0.80 • In August 2021, Beamtree acquired Potential(x), for $19.6m (1.8x FY21 revenue and 7.4x FY21
operational EBITDA) through a mix of scrip and cash. Potential(x) is an Australian pioneer in
0.60 205.1% health data with unrivalled expertise in health data collection, standardisation and
benchmarking of clinic and financial outcomes. The acquisition doubled Beamtree’s revenue to
0.40 $20m
0.20 16.6% • Mike Hill, MD of Bombora and Chairman of Beamtree, was instrumental in driving the above
acquisitions to its success through Bombora’s active management philosophy
-
Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 • The Bombora Special Investments Growth Fund (BSIGF) remains a substantial shareholder of
ASX:BMT ASX Small Ind. (rebased) Beamtree
22
1. As at 30 September 2021.rhipe – Pre-Fund Launch
rhipe has experienced rapid revenue growth and scale, from $40m revenue in FY12 to $377m in FY21
Overview
Overview Company Milestones
1. RHP backdoor lists on the ASX with the assistance of Bombora through shell company FRR
Sector Information Technology
Corporation.
Industry Subscription software distribution
2. Following due diligence conducted by Bombora Group, rhipe raises capital October 2014 to
Australia, New Zealand, Singapore, Malaysia, Philippines, Indonesia, Thailand, fund the acquisition of nSynergy and an investment in ASX listed LiveTiles Limited (ASX:LVT).
Location
South Korea, Sri Lanka, Japan
3. RHP enters the ASX All Ordinaries in March 2015.
Investment Date Apr-141
4. The Company announces a maiden fully franked dividend of 0.5 cents per share.
Current Market Cap A$401m2
5. Mike Hill resigns from the board of RHP after a 5 year tenure, leaving the Company with a
Acquisition Value A$13.0m strong balance sheet and operations in 8 countries.
6. RHP announces it has received a conditional proposal from Crayon Group Holding ASA
Commentary and Investment Thesis (CRAYN.OL) to acquire 100% of the shares in RHP by way of scheme of arrangement for $2.50
per RHP share. In October 2021, the acquisition of RHP was approved.
• rhipe Limited (RHP) offers cloud licensing of major software providers (including Microsoft, 6
Volume (M’s)
$3.50 7
Citrix and VMware), a subscription management tool, and value-added services to IT services
Share Price
providers who bundle subscription offers to end users. $3.00
3
5 6
•
$2.50 5
The Company has expanded into high-growth South-East Asian markets since listing, including 2
4
entering Thailand, the Philippines, Malaysia, Indonesia, South Korea, Sri Lanka and Japan. $2.00
1
4
•
$1.50 3
RHP’s subscription based sales model has seen revenue grow from $40.0m in FY12 to $377m
in FY21 and EBITDA increasing by more than 6x between the same period. $1.00 2
$0.50 1
$- 0
Apr-14 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Apr-21
1.
2.
Announcement of RHP acquisition
As at 30 September 2021 23Appendix 2
Investment
process
Investor Presentation • Confidential • Oct 2021Investment Process
Opportunity Initial Due Investment Ongoing
sourcing opportunity diligence Committee reporting and
screening Approval monitoring
A key strength of the Bombora investment High Conviction Diverse and experienced Active investment
Bombora team is the experience ensures a positions drive detailed Investment Committee positions with a view of
capability to source truly reliable and rigorous due diligence being need to unanimously partnership designed
unique opportunities screening process undertaken following approve the execution of for Bombora to stay on
ahead of the market utilising Industry initial opportunity any transaction top of performance
Specialists screening
25Appendix 2
Team
Biographies
Investor Presentation • Confidential • Sept 2021Investment Team & Committee
Brett Chenoweth Mike Hill David Willington Bryan Zekulich
Chairman of Investment Managing Director & Portfolio Manager Portfolio Manager
Committee Chief Investment Officer Equities Pre IPO Strategy
• Brett co-founded Bombora Group 2014. He • Mike was an Operational Partner of • David has over 25 years’ experience in • Bryan was the Managing Partner of EY’s
has over 25 years’ operating experience in Ironbridge from 2004 to 2014, a private corporate finance and investment banking Private Equity Sector for over 15 years’.
media, technology, telecommunications equity firm with $1.5bn funds under and during his career has primarily advised Bryan is also a Board member, Treasurer
and digital businesses -- most recently as management. He led and was involved in a companies in the technology, media and and Company Secretary of the Australian
Managing Director and Chief Executive number of transactions across a variety of telecommunications industry Investment Council (formerly the Australian
Officer of APN News and Media Limited. He different industries. Prior to this, Mike was • David is the Chairman of EzyCollect Private Equity and Venture Capital
has held senior executive roles at the New a Partner of Ernst & Young Holdings Limited Association “AVCAL”)
York based investment firm Silverfern • Co-Founder of Bombora Group in 2014 • Significant experience in mergers &
Group, Telecom New Zealand, Publishing &
• Previously, David was a Senior Partner at
• Current Board positions include Chairman Deloitte Corporate Finance and prior to that acquisitions, divestments, strategic finance,
Broadcasting Limited, ecorp, ninemsn and capital raisings and advising on the
of the Board of Janison Education Group was an investment banker with NM
Village Roadshow Limited. Australian stock exchange listing
Limited (ASX: JAN), Beamtree Holdings Rothschild and Citi
• Brett is currently Chairman of Adairs Limited (ASX:BMT), Design Milk Co Limited requirements
Limited (ASX: ADH), Madman
• David has a Bachelor of Commerce, is a
(ASX: DMC) and Orbx Investments Limited member of the Institute of Chartered • Bryan currently sits on the board of
Entertainment and Canberra Data Centres and Non-Executive Director of Mad Paws BikeExchange Limited (ASX:BEX) and
Accountants in Australia and is a Fellow of
(CDC). He serves as the Chairman of the Limited (ASX:MPA), Gratifii Limited Gratifii Limited (ASX:GTI)
the Financial Services Institute of Australia
Advisory Board of H.R.L Morrison & Co. and (ASX:GTI) and Path Group Inc.
sits on the boards of Janison Education
• Bryan has a Bachelor of Commerce from
Group Limited (ASX: JAN), NSW Land
• Member of the Australian Institute of The University of Western Australia, Fellow
Chartered Accountants and holds a of the Institute of Chartered Accountants of
Registry, Vodafone NZ, Saxtons Speakers
Bachelor of Arts Degree (Accountancy) Australia (FCA) and Fellow of the Financial
Bureau and Surfing Australia.
from the University of South Australia Services Institute of Australia (FINSIA), F.
• Brett has a Bachelor of Laws and a Fin
Bachelor of Economics from the University
of Queensland, and a Graduate Diploma in
Applied Finance and Investment from the
Securities Institute of Australia 27Investment Team & Industry Specialists
Garren Julian Knights Greg Ruddock
Emily Mohan Chris Colfer
Investment Associate
Keane-Robbins AO Industry Specialist Industry Specialist
Investment Associate Industry Specialist
• Emily joined Bombora in June 2020 • Garren joined Bombora in July 2021 • Chris has Chairman, Chief Executive • Founding Partner of Gresham Private • Founder and Joint CEO of Ironbridge
as an Associate as an Investment Associate. and Board Director experience with an Equity (majority owned by successfully raising and investing the
• Previous background includes over 8 • Previously, Garren was an Associate exemplary track record in multiple Wesfarmers) and Founding Partner of 2001 $450m fund and the 2006
years experience in corporate finance at Citi in the General Industrials and industry sectors including luxury Ironbridge in 2001 $1.05bn fund
and equity research. Key Financial Sponsors team where he goods, branded goods and E- • 15 years of private equity experience • Prior to forming Ironbridge, Greg
responsibilities included structuring was involved in a range of M&A and Commerce. He is highly skilled in raising approximately $1.75bn of joined Gresham Private Equity in 1999
and executing capital raisings (both financing transactions. strategy, retail, e-commerce, business funds under management and 17 and had 12 years operational
listed and unlisted), initial public development and marketing years investment banking experience experience at Wesfarmers
• Prior to joining Citi, Garren worked at
offerings, and general corporate Rothschild in investment banking • He has deep technology experience in the UK and Australia • Has represented Ironbridge on the
advice. Emily also has a good and Schroders in asset management. having served on the boards of Net A • In 2008 served as the Chairman of Boards of Stardex, Super A-mart,
understanding or ASX listing Porter and LYST, in both cases AVCAL (Australian Private Equity and EnviroWaste, Easternwell,
requirements
• Garren holds a Bachelor of
overseeing their growth from start-
Commerce (Co-op, Honours) degree Venture Capital Association) FleetPartners (now Eclipx), ISGM and
• Prior to joining Bombora, Emily was a ups to global businesses. AOS. Greg is currently a Director of
from the University of New South • In 2013 was appointed as the Chair of
Corporate Finance Analyst at Blue Wales. • Chris currently sits on a number of the Major Performing Arts Board of Eclipx Group Limited (ASX: ECX) and
Ocean Equities, with an emphasis on technology and consumer goods the Australia Council Navigator Resources Limited (ASX:
small cap emerging companies, boards, including Medik8, Woolworths NAV)
particularly across the technology and Holdings Limited, Nude by Nature,
• Julian qualified as a solicitor and
holds BComm and LLB degrees from • Greg currently serves on the board of
healthcare sectors Mobile Digital, Design Milk Co Limited Prospa Group Limited (ASX:PGL)
the University of the Witwatersrand
• Emily holds a Bachelor of Commerce (ASX: DMC) and SQUIZ.
• Greg qualified as an accountant and
degree from Macquarie University holds a Bachelor of Commerce
degree from the University of WA
28Bombora
“An indigenous Australian term for an area of submerged rock
shelf, reef or sand bank that is located some distance from the
shoreline that causes waves to surge as they pass over it.”
29Disclaimer
This Investor Presentation (Investor Presentation) contains information about Bombora Special Investments Growth Fund (Fund). The Fund is an unregistered managed investment scheme pursuant to
section 601ED(2) of the Corporations Act 2001 (Cth) (Corporations Act). This Investor Presentation is issued by Bombora Investment Management Pty Ltd ACN 625 413 390 (Trustee or Bombora). This
Investment Presentation is a summary of an information memorandum that has been prepared by Bombora with respect to the Fund (Information Memorandum), the Information Memorandum contains
further information regarding the fund including the risks of investing in the Fund.
This Investor Presentation is intended solely for the use of the person to whom it has been delivered (Recipient) for the purposes of evaluating a possible investment in the Fund. It is not to be reproduced
or distributed to any person (other than professional advisers of the Recipient) without Bombora’s prior written consent.
This Investor Presentation has been prepared for Wholesale Clients only , is not, and is not required to be a disclosure document or product disclosure statement within the meaning of the Corporations
Act. This Investor Presentation may not contain the same level of disclosure as those documents and has not been, and is not required to be, lodged with the Australian Securities & Investments
Commission (ASIC).
The Trustee is a corporate authorised representative of Ironbridge Capital Management Pty Limited ACN 105 880 108 (AFSL No. 237556) and is authorised to provide advisory, dealing and custodial
services in connection with the Fund to Wholesale Clients only.
Investment Decision
Applicants should read this Investor Presentation and the Information Memorandum in their entirety before deciding to apply for Units. This Investor Presentation does not take into account the individual
circumstances of any investor, nor does it give financial product advice. Accordingly, investors should obtain independent legal, financial and taxation advice before making a decision to invest in the
Fund.
An investment in this Fund carries risks. An outline of some of the risks that apply to an investment in the Fund is set out in Section 6 of the Information Memorandum. Applicants are urged to consider
this section of the Information Memorandum carefully before deciding to apply for Units. No person is authorised to give any information or make any representation in connection with the Offer which is
not contained in this Investor Presentation or the Information Memorandum. Neither the Fund, The Trustee nor its respective affiliates, related bodies corporate, directors, officers, employees,
representatives or advisers accept any liability for any loss or damage suffered or incurred by the investor or any other person or entity however caused (including negligence) relating in any way to this
Investor Presentation or the Information Memorandum.
Forward Looking Statements
This Investor Presentation contains forward looking statements. Forward looking statements are not based on historical facts, but are based on current expectations of future results or events. These
forward looking statements are subject to risks, uncertainties and assumptions which could cause actual results or events to differ materially from the expectations described in such forward looking
statements. While the Fund believes that the expectations reflected in the forward looking statements in this Investor Presentation are reasonable, no assurance can be given that such expectations will
prove to be correct. The risk factors set out in Section 6 of the Information Memorandum, as well as other matters as yet not known to the Fund or not currently considered material by the Fund, may
cause actual results or events to be materially different from those expressed, implied or projected in any forward looking statements. Any forward looking statement contained in this Investor
Presentation is qualified by this cautionary statement.
30Investor Presentation • Confidential • Oct 2021
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