Peak Asset Management head of funds management, Thomas Lambeth, personally owns shares in Tech Mpire and told The Australian Financial Review he was not concerned about the connection to Zhenya Tsvetnenko.
"The Zhenya thing is completely irrelevant and has no effect on the business," he said.
"But the publicity around the founder is not good... so I was actually hoping it would drop when it did so I could buy some more ... I did when it got down to 31.5¢."
Mr Lambeth said Tech Mpire was a cheap stock considering it has reasonably high revenue (the company recorded $25 million in revenue between June 29, 2015 and April this year), but like any growth company it was a risk.
"It's trading on less than one times revenue, so it looks very cheap at current prices. The revenue growth has been extraordinary, but working capital is a huge issue for the company," he said.
"I'm holding this stock for a minimum of six months on the basis that I think we will see a huge upswing. It's quite seasonal and looking at the quarterly results, the revenue is weighted toward the second half of the calendar year."
