Rollup goss: de novo SaaS holdco raises at $30M pre-money; Olsam in receivership; origination webinar!

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Hello HoldCo enthusiasts 👋 Got 5 high value updates for you:

One, I am heading Stateside next week. NYC on 8-9 September and Bay Area on 10-12 September. Attending SaaStr to learn about the latest sales techniques that we can use at Baltic Family Capital. Wait, what is Baltic Family Capital?? My latest project: a permanent home for high quality SMEs in Estonia, Latvia and Lithuania. Like Lifco, but at an early stage. 

We are at nearly 50% of our 10M fundraising target and we are closing in on our first LOI. 

Link to the pitch deck. 

Two, for those of you longing for a spot of networking after a long, hot summer, we have good news. In London on 17 October we will be hosting a mini conference dedicated to UK&I SME serial acquirers 🇬🇧 🇮🇪 

Yes, you heard that right! HVAC, plumbing, clinics, niche manufacturing, injection moulding. 

Further details & signup link next week. We have 2 sponsorship spots remaining. DM if interested!       

Three, the ranks of Amazon FBA aggregators keep dwindling. Blackrock is auctioning off SellerX. Meanwhile in the UK three weeks ago, Denali was appointed Olsam's receiver “for part of the property”. In case you are new to the space, check out our writeups on the FBA aggregator phenomenon and Olsam. 

Four, next Thursday 12th we are running a very cool deal origination webinar featuring:

• Timm Overmans, one of the most experienced SaaS M&A originators in Europe

• Tristan Alden, Senior Sales Director – EMEA, Sourcescrub

• Yours truly

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Five, here are the latest software rollup comps. Aries Global - part platform play, part horizontal rollup, has raised $10M on a $30M pre-money. And no it’s not that outrageous for a de novo vehicle, considering that Cherry Ventures, a Berlin based VC firm, picked up 90% of the raise. 

A smart move from the experienced PE exec Michael Mittelehner (L Catterton, Vitruvian) to team up with Thibault Ceyrolle, Snowflake’s former Head of Europe.   

Meanwhile, Shop Circle, a rollup of ecommerce, has closed Series B. Price per share was 14% up on Series A. This brings cumulative equity raised to north of $60M, and the latest post-money valuation to $120M. Well done guys!

Here is how Shop Circle and Aries stack up against other UK tech aggregators based on initial valuation, dilution, and cumulative equity raised: 

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