SQID Technologies Limited
SQID is a payment processor that helps businesses build payment solutions to support customers transact across their business model. SQID is well established with 8 consecutive quarters of profitability. SQID processed over $100M in card payments in first half of 2020, up 21% from same time last year. In the March 2020 quarter, SQID reported $2M in net revenue and $300,000 profit before tax. SQID has over $4M cash at bank.
First Growth Funds invested in SQID Technologies as a private company and assisted the company to go public and list on the Canadian Securities Exchange in January 2020. CSE: SQID
LINCD HQ Pty Ltd (exit)
First Growth Funds acquired LINCD HQ is an unlisted blockchain software company as a distressed asset for just $940 in 2009 and then sold the company to ASX listed Harris Technology Limited for $900,000 in Harris shares. In April 2020, First Growth Funds sold its stake in Harris and banked $1.42M cash profit.
ASX listed Candy Club is a US-based confectionery company that is focused on its fast-growing B2B wholesale business. Some recent highlights:
- Candy Club’s total number of retail doors continued to increase from 4500 in December 2019 to more than 8800 June 2020.
- The number of customers has more than doubled year-to-date.
- Candy Club started the year with less than 2000 customers and has grown to almost 4500 in June 2020.
- The number of retail doors and customers are expected to reach 15,000 and 10,000, respectively, by the end of FY2020.
- Ecommerce & Retail sales – no negative impact from COVID 19.
Candy Club recorded June quarter revenue of US$2.3M and has been growing 66% quarter on quarter growth.
Constellation Technologies Limited
Listed on the ASX, Constellation Technologies Limited engages in the Internet of Things (IoT) product development and product management in Australia and internationally.
With offices in Australia, China, India and USA, the company services a number of industry verticals including food, health and environmental.
In December 2019, the Company raised over $4M and secured partnership agreements with two of its cornerstone customers to refer up to $9M in new customer contracts over a 24 month period. Constellation continues to deliver growing revenues and new contracts for industrial IOT and Smart City contracts.
Kleos Space Limited (exit)
Kleos Space is listed on the ASX and develops innovative shoe-size satellites. First Growth Funds invested in the IPO. First Growth Funds exited the investment with a 26% return.
Helbiz, Inc. is an Italian-American intra-urban transportation company headquartered in New York City with an aim to solve the first mile/last mile transportation problem of high-traffic urban areas around the world. Helbiz completed a US$10M placement in late 2019.
Helbiz is an unlisted company and is planning on a NASDAQ listing.
ASX Listed RooLife helps companies from Australia, NZ, UK and USA to sell their products into China via an end-to-end solution, from eCommerce store set up, digital marketing, through to logistics. The financial year June 30, 2020, RooLife’s revenue grew 380% to over $3M and since March signed a further $8.7 million in new 3-year contracts, subject to minimum annual sales targets being met for each respective contract.
Champion Iron Limited (exit)
First Growth Funds invested in ASX listed Champion Iron Ltd and exited with a 82% return.
ASX listed education technology company KNeoMedia recently secured a second $US1 million contract for ‘Connect All Kids’ education initiative into New York City public schools. ‘Connect All Kids’ is an education initiative for New York City public schools and is a collaboration between the National Association of Coloured People (NAACP), KneoMedia and Dell Technologies.
Horizon Fintex is a private fintech company based in NY. It is a revenue generating software business with solutions for custody, AML and secondary trading for private assets. The company is built on blockchain technology but does not deal directly in cryptocurrencies.