Ansarada is unusual for an Australian software company. As a provider of “virtual data rooms”, it develops secure cloud storage designed for stashing sensitive documents such as those read by M&A lawyers. Yet the company is noteworthy not for what it does but rather its pathway to going public.
It floated in 2020, two years after raising millions in a Series A. Now it’s part of Datasite, whose acquisition of Ansarada was finalised in early September, about seven months after it was announced.
That gave early-stage investor Folklore Ventures a double-exit win, six years after it invested in Ansarada’s Series A.
“Ansarada signalled another positive exit for Folklore, and a sizable return for investors in our second fund,” said Folklore founder Alister Coleman. “It has resulted in material distributions to our LPs, and adds to the significant portion of our second fund that we have already returned.”
