Aussie tech bigwig Bevan Slattery bankrolls HR software microcap
NextDC and PIPE Networks founder Bevan Slattery is set to take a stake in listed microcap intelliHR.
Bevan Slattery is piling into another Queensland-based tech play. Photo: Nic Walker
The well known technology sector entrepreneur, who is still chairman at ASX-listed companies Megaport and Superloop, is expected to invest $2.5 million into the company as part of a wider equity raising.
intelliHR shares went into a trading halt on Tuesday morning.
intelliHR is an Australian HR technology business that develops and sells cloud-based people management software.
The company had a $14 million market capitalisation prior to Tuesday's raising. Its major shareholders include CEO Robert Bromage and Sydney-based private equity manager Colinton Captial Partners.
It's expected to seek to raise up to another $3 million from existing shareholders via a rights issue.
Slattery's emergence on the share register is likely to prompt fund managers to take a second look at the company. Plenty of investors have made money alongside Slattery in the past including at Megaport, Superloop, NextDC and PIPE Networks.
It's the second time in two months Slattery has cut a big cheque to a listed microcap. Last time was 3D mapping company Pointerra, when Slattery invested $2.5 million at 5¢ a share in June. The stock was trading at 20¢ on Tuesday.
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