Payroll software company secures $100m pre-IPO backing
Summary
Two of Australias sharpest private equity investors are set to take their payroll provider Ascender to the ASX boards after securing a hefty equity injection from United States fund of funds investor HarbourVest Partners. Street Talk can reveal Andrew Grays new firm Potentia, which owns a controlling stake in Ascender, has secured a $100 million pre-IPO investment from HarbourVest ahead of a sharemarket listing targeted for next year. HarbourVest is one of the largest private equity investment managers globally. And Gray isnt the only well known private equity dealmaker on Ascenders register. Also there is former CVC Asia Pacific dealmaker Adrian MacKenzie, who is on board in a personal investment capacity.
Funding
Amount
$100.0M
Total raised
Date
December 21, 2017
Announcement date
Investors
-
Lead investors
Company
https://www.ascenderhcm.com/
Funded company
Classifications
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applications
Accounting and Taxes
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