Asset Manager Investing in Global Technology Sector

We're an asset management firm allocating our capital into asset classes benefiting from technological innovation and applications globally. We serve as a family office of a tech professional who has spent over a decade as an entrepreneur, operator, and venture investor across Asia and the US.

Our small team is made up of diverse investment professionals who research, identify, and execute relevant opportunities. We occasionally share some of our investment memos, insights, and analysis here.

Friday, July 3, 2020

Q2.2020 - Opera: Attractive Exposure To Africa's Fintech Landscape

  • Upon a $600 million takeover by the new Chinese owners in 2016, Opera has shifted its focus to emerging fintech opportunities in Africa and Asia.
  • Both owners have core competencies in the emerging market, having successfully launched two unicorns in China. We believe that Opera can crack Africa's market potentials.
  • Opera grew ~94% in 2019, upon launching its fintech offering in Africa. The fitting approach and business model should allow Opera to sustain its growth.

Opera (NASDAQ:OPRA) is one of the most interesting turnaround growth stories we have come across. Driven by the ambitious vision of the new Chinese owners, it went from being a less successful browser maker to being a fast-growing microfinancing lender in Africa and Asia. Over the last year alone, revenue doubled to ~$335 million upon the launch of the fintech unit in Kenya and India. In this note, we take a closer look at Opera's new Chinese owners' motivation and the micro-financing business potentials in these emerging markets, which we think offer a uniquely attractive long-term outlook.

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