Tech Africa PTE LTD main investor, Frontier Digital Ventures (FDV), became part of the Australian Stock Exchange (ASX).
This was a very special week for Tech Africa PTE LTD as its main investor, Frontier Digital Ventures (FDV), became part of the Australian Stock Exchange (ASX) – for more information please read the article: Catcha’s betting big on online classifieds in frontier markets or Online classifieds player Frontier Digital Ventures raises $22.8m in ASX listing
The presence of FDV at the Australian stock market is a remarkable sign of confidence in the way the company is being led and big expectations to the large portfolio of classified platforms in Frontier markets, including Tech Africa’s leading classified platforms in Angola: AngoCasa and AngolaCarro.
Frontier Digital Ventures
Frontier Digital Ventures is a company specialized in financing online classified advertisement in emerging markets. The company is part of the Catcha group, a holding led by one of the well-known and respected digital entrepreneur in Asia and Oceania, Patrick Grov. The CEO and founder of FDV is Shaun Di Gregorio, who led projects like iProperty, iCar, and REA.
In 2015, after selling its classified portal, iProperty, for $543 million dollars, Catcha’s focus on the online classified ads segment came naturally. Today, Frontier Digital Ventures is present in several emerging markets, such as Pakistan, Myanmar, Nigeria, Ghana, Morroco, Mozambique and Angola. In total, there are 15 companies in FDV’s portfolio, such as AngoCasa and Angola Carro. The majority of these companies already led the sectors in their respective countries.
The Frontier Digital Ventures vision is to invest in startups based in emerging markets with a big growth potential in the classified sector. Most markets are very early stage, however a boom of smartphones, mobile internet and a massive increase in overall internet users, makes these markets lucrative.
After entering ASX, the company was immediately able to raise 30 million Australian dollars through an IPO in which 60 million shares were emitted for around $0.50 AUD.
These are, undoubtedly, exciting times for Tech Africa PTE LTD!