Exiting The Year With “A Year Of Exits”

Updated: Mar 14

Anatomy of a Takeout and of a unicorn.

Original Post on Pender Fund

In our final episode for the year, Felix Narhi is joined by David Barr, Maria Pacella and Amar Pandya for a year end discussion on exits. The team looks back at the year through the lens of our record-breaking list of exits, with 11 public and 6 private liquidity events. They reveal some of the secret sauce and we learn why Maria has started to believe in unicorns. The team provides some in depth analysis on a few of the events and discuss where they see the M&A and IPO environment heading in the new year.

Key Takeaways

02:04 - Amar provides some background and context for the M&A environment we have seen in 2021

04:04 - Maria adds to the conversation with her perspective from the ventures side.

06:10 - Felix asks Dave for a refresher on his “Anatomy of a Takeout”.

09:55 - Maria talks about her new-found belief in unicorns and why Copperleaf has stoked the fire.

16:53 - Felix asks Amar for details on a takeout that really stood out to him.

21:51 - Amar elaborates on the equity investment process and uses CoreLogic as an example.

25:20 - Dave adds to the conversation by providing more examples and insights.

27:52 - Felix asks Dave for the difference between activism and constructivism and how Pender views itself as a shareholder.

28:50 - Felix and Dave reflect on public markets and the shift in the potential for takeouts.

32:25 - Amar and Maria add to the conversation and provide some examples.

Mentioned in This Episode:

Felix Narhi. David Barr. Maria Pacella. Amar Pandya. Judi Hess. Amos Michelson. Neil McDonnell. Pender Ventures. SPAC. Copperleaf Technologies Inc. CB Insights. exactEarth Ltd. Honeywell International Inc. Spire Global, Inc. General Electric Company. International Business Machines Corporation. CoreLogic, Inc. One45 Software. Photon Control Inc. Dye & Durham Limited. The Commercialization of Space – Part 1. The Commercialization of Space – Part 2. Pender Small Cap Opportunities Fund. Pender Alternative Arbitrage Fund. Pender Special Situations Fund. Episode 83 – The One45 Story. Peter Kellner. Disclaimer