Mubasher: GFH Financial Group has closed the private placement offering of Global Tech Opportunities II, comprising investments in a portfolio of high-growth, pre-IPO companies that specialise in next-generation technologies.

The portfolio enables the group to have minority stakes in tech companies such as Anywhere, Tanium, StockX, Rapyd, Scopely, Robinhood, Kraken, and Lyra Health, according to a press release on Sunday.

These companies operate in some of the most disruptive tech sub-sectors, benefiting from secular trends in digital adoption such as cloud and enterprise software, cybersecurity, and fintech.

GFH has invested in the portfolio with strategic partners, which include leading and emerging tech-focused asset managers.

These investments are expected to have a positive impact on the group’s financials and increase its returns.

Prior to this investment, GFH closed its first portfolio offering in the pre-IPO tech space during the fourth quarter (Q4) of 2020.

Three of the portfolio companies, comprising Snowflake, UiPath, and Doordash, have had successful IPOs on the New York Stock Exchange and are currently trading at between 4x to 6x of their late-stage private funding rounds.

The Chief Investment Officer of GFH, Hammad Younas, said: "This transaction marks GFH’s fourth major technology investment offering and second in the US in under a year. It is an area where we continue to focus and strategically expand our portfolio."

Meanwhile, Younas added: "As we come out of the Covid-19 crisis, we are actively investing in businesses that will benefit from strong economic growth and are backed by robust long-term fundamentals."