We back and support management teams in growing their businesses.
This can take many forms — from a passive long-term supportive shareholder to more actively supporting at the board level.
We let management and founders take some of their equity off the table.
Culture
We look for a defined high-performance culture, with teams who see culture as a critical strategic priority.
Leadership
We look to help and support great leadership, not replace it.
We work best with leadership teams and owners that just can’t imagine doing anything else.
We want our leadership teams to have a growth mindset - always looking to do things better.
Type of Business
We're open to Portfolio Companies in any industry.
While we are industry agnostic, we have a more established track record with software, consumer, and healthcare.
Size of Business
We typically invest in companies with greater than $50 million revenue, but for those companies not yet at that scale but with big aspirations, we would still love to hear from you. We’re always happy to try and help you on your scaling journey where we can.
Growth
We help businesses who are looking to build a much bigger business over the long term — who aspire to revenue growth of more than 20% per annum.
We’re about long-term, sustainable results for the benefit of all shareholders not short term profit maximisation or acquisition-led growth.
Investment Size
Our investments per business scale from $50 to $300 million. Our funding structure is as flexible as your business needs.
We always make sure the management, founders, and Boards have significant shareholdings.
Exit Approach
We invest over the long term, with no defined exit time on the investment’s life.
Regions
We are not geographically constrained. We’re proven in helping businesses grow globally.
Governance
We don't require a board seat, but do value high-performing board and governance structures. TDM is often actively involved in board construction and participation.
Board members should be passionate about the business’s mission and align themselves with shareholders by also owning significant equity.
our approach to helping scale portfolio companies.
Enduring Capital
Operational Excellence
People and Culture
Data and Insights
redefining long-term investing: our longest-term investment has been 17 years (and counting).
results.
A PROVEN TRACK RECORD
Results matter. In our 17 year history, TDM have achieved results of:
Compounded our clients’ capital at over 25% annually since inception in 2005. This equates to over 54x initial investment.
When we say long term, we mean long term – one company has been in the portfolio for 17 years.
A successful track record of transitioning private companies to the public market as long-term shareholders.
Early stage & fast growing; aspiring category leaders
TYPICAL ENTERPRISE VALUE
$300m+
TYPICAL SITUATION
Early stage relationship with founders
COMPANY TYPE
Private company
TYPICAL INVESTMENT
US$10-100m
TYPICAL OWNERSHIP %
<10%
SOURCE OF RETURNS
Growth in fair value
TYPICAL # COMPANIES IN PORTFOLIO
2-5
TYPICAL % OF PORTFOLIO
up to 10%
examples
Scaling up to Greatness
Fast growing category leaders; operationally scaling
TYPICAL ENTERPRISE VALUE
$500m - $3bn
TYPICAL SITUATION
Founder seeking an active partner to help scale
COMPANY TYPE
Private or public company
TYPICAL INVESTMENT
US$70-250m
TYPICAL OWNERSHIP %
10-40%
SOURCE OF RETURNS
Growth in fair value
TYPICAL # COMPANIES IN PORTFOLIO
2-5
TYPICAL % OF PORTFOLIO
up to 50%
examples
Generational Winners
Fast growing leaders becoming great, generational businesses
TYPICAL ENTERPRISE VALUE
>$10bn
TYPICAL SITUATION
Market under-estimates duration of growth
COMPANY TYPE
Publicly listed company
TYPICAL INVESTMENT
US$75-250m
TYPICAL OWNERSHIP %
<5%
SOURCE OF RETURNS
Growth in fair value + 'margin of safety' closes
TYPICAL # COMPANIES IN PORTFOLIO
2-5
TYPICAL % OF PORTFOLIO
up to 20-30%
examples
examples
Data and Insights
While our Portfolio Companies receive deep business-specific insights and more exclusive access to TDM, we also love sharing our best practices and performance insights more broadly.
To dig in now, traverse our library of long-form blog posts, company case studies, or podcasts.
If you find it easiest to receive insights in your email, subscribe to our quarterly newsletter.
People and Culture
Scaling People and Culture can often be the biggest barrier to transitioning a business from great to generational.
To help our Portfolio Companies scale with the right people on their leadership teams and boards, we draw on the expertise of our Operating Partners.
Our Operating Partners are an exclusive group of former CEOs and executives who have seen scale and appreciate the complexity that comes with it.
Operational Excellence
One of the benefits of a highly concentrated portfolio is our capacity to roll up our sleeves and partner with our Portfolio Companies on their scaling journey.
We’re active, but not activists.
Portfolio Companies receive active support from our Investment Team and Operating Partners with:
We typically invest between $100 to $300 million, in a hyper concentrated portfolio, from a single pool of capital with an ongoing fund life. This style of investing allows us to take a very long-term, thoughtful, approach as true partners helping scale world-class businesses.
We invest globally in late-stage private through to public companies who aspire to be enduring growth businesses.
Pet Circle
Australia's largest online pet speciality company.