Principal Investing
Investments.
GDA Group invests its own balance sheet alongside the mandates it advises. Positions are taken to be held and operated, not traded — the firm sits on the cap table of the companies it helped build, and stays there.
The holdings themselves are listed on the portfolio; what follows is how the firm decides what to own.
How value is created in a position
The asset is already there
Incumbents sit on data, distribution, licences, and physical operations that a technology business could be built on. Most have never been shown what that business would look like.
Built, not advised
GDA structures, capitalizes, and staffs the new entity, and takes a founder’s position in it. The firm has done this from zero more than seventy times.
Priced by the market
A credible technology business is valued on its own terms. That is where the multiple moves, and where the shareholder value is.
Where a position comes from