Bailador Technology Investments Limited (BTI)

As a Listed Investment Company, Bailador's performance is measured by the growth in its Net Tangible Assets (NTA) per share, which reflects the value of its underlying private technology portfolio. Recent performance has been influenced by the broader tech sector valuation environment, with write-downs in private market valuations placing pressure on NTA growth. The company's share price frequently trades at a discount to its stated pre-tax NTA, a key metric for investors to monitor, presenting both a potential opportunity and a risk if the discount persists or widens.

Bailador's growth outlook is directly tied to the performance and successful exit of its portfolio companies. Future catalysts include new funding rounds for portfolio companies at higher valuations, which would increase the NTA, or a significant liquidity event like an IPO or acquisition of a major holding. The company's strategy is to continue identifying and investing in promising Australian and New Zealand tech scale-ups, recycling capital from successful exits into new opportunities. Future returns are dependent on the management's ability to pick winners and the health of the venture capital and M&A markets.