"Our other pre-IPO investment that is timetabled to list in the coming month is Touch Ventures (TVL) - the venture capital company backed by Afterpay (APT) (32%) - which has just raised $100m through Bell Potter. TVL has 5 investee businesses including BNPL companies in the UAE (Postpay) and China (Happay). Most significantly, TVL invested US$25m into Australia Post competitor Sendle which has made significant inroads in Australia and is looking to expand into the US. Given the huge investor support of Afterpay - additionally so after its deal with Square that sent the APT’s shares 30% higher - another good debut on listing could be expected."
