A strong flow of capital into dedicated pre-IPO funds will keep the initial public offers flowing in 2022, while private capital is also increasingly on the hunt for exposure to the transition to a low carbon economy, John Kain, the managing director of mid-tier M&A firm Kain Lawyers says. Mr Kain, whose firm last year advised on deals including Archer Capital’s sale of V8 Supercars and Silk Laser’s $52m acquisition of Australian Skin Clinics, said the special purpose funds, which invested in private companies looking to list on the ASX in the short to medium term, had been growing in popularity.
Microequities Asset Management also in August launched its “Private to Beyond the IPO Fund” which is targeting 15-25 per cent returns. That fund invested $5m in Adelaide artificial intelligence company Complexica in mid-2021, following up with another $3m in December.
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