Biocatch founders have pay day at unicorn valuation

Founders of Israeli cybersecurity business, BioCatch, Avi Turgeman and the late Benny Rosenbaum get paid out as Macquarie buys $32 million, Sapphire Ventures $70m and Permira Growth Opportunities $40 million at a valuation of slightly more than $1 billion.

What biocatch does 

BioCatch founded in 2011, specializes in software development for identifying and preventing bank fraud and money laundering.

BioCatch  numbers 

BioCatch is currently led by CEO Gadi Mazor, employs 280 people, half of whom are based in Israel. 

The recent surge in the company's value follows accelerated growth, propelling it to a yearly revenue pace of $100 million, leading to a positive cash flow. 

BioCatch clients

This growth is fueled by a 51% revenue increase from its 152 clients, consisting of banks and financial institutions. 

Notably, 28 of the world's top 100 banks are on BioCatch's client list. 

The early investors 

The primary shareholder in BioCatch , Bain Capital, led the last $145 million fundraising round in 2020 with the major global banks such as HSBC, Citi, Barclays, and the investment arm of American Express. 

To date, BioCatch has raised $253 million, with the proceeds from the last three rounds benefiting early investors seeking an exit.

Related articles:

https://www.linkedin.com/posts/cwsisrael_australian-investment-giant-macquarie-acquires-activity-7163085854314336256-96E5?utm_source=share&utm_medium=member_ios

• BioCatch enters unicorn club as valuation crosses $1 billion in latest secondary deal
• Permira Growth Opportunities acquires $40 million stake in BioCatch
• “With fintech, you get about three times more fraud than what you now get on traditional banking”

Oneventures closes first fund with 4X investment

Australian venture capital firm OneVentures has hit a landmark moment, with the official closure of its first fund, providing strong returns to its backers, including the federal government, which provided half the money for the fund back in 2010.

This is a significant moment for the local technology industry as it marks the first major fund of the post dotcom era to officially wrap up and return good money to investors. 

The return currently stands at four times the money invested, and could rise higher!!

Source AFR https://www.afr.com/technology/this-vc-firm-has-hit-a-landmark-and-it-s-payout-time-20240211-p5f427

BuPa raises a $20m VC find for Healthtech Companies

Adelle Moynihan’s  work over the last five months at Bupa, building Bupa Ventures, has come to life through launch in the The Australian Financial Review 😊 

 

Yes, it takes a minute to build a corporate venture fund, and I have learnt that's for good reason. Behind the scenes, the Ventures team has been aligning Bupa's robust capabilities to be able to deliver value beyond capital to the health techs we fund. 

 

In the words of CEO Nick Stone 

 

"That's the hardest thing for any start-up, getting a customer base. We can offer a readymade one as well as a very well capitalised business to support their growth".

 

Here's a fund overview for you

- $20m to deploy with an allocation for follow-on

- Seed - Series A stage

- Backing APAC companies

- Strategic fund with a focus on predictive and preventative healthcare, genomics and personalised medicine, and in-home and remote monitoring solutions. 

- Value beyond capital with a partner that is one of the worlds few, truly global, healthcare provisioners

Health techs, start applying!