Who is Teoh Capital?

Teoh Capital is a private equity firm based in Australia.

Firm facts

Teoh Capital

Type

private equity firm

Headquarters

Sydney, Australia

Website

teohcapital.com

Industries

• Construction & infrastructure
• Consumer & retail
• Financial services
• Healthcare
• Logistics & transport
• Real-estate services
• Software & IT services

Verification date not recorded

How they work

Teoh Capital is a Sydney permanent-capital investor founded in 2020 by TPG Telecom founder David Teoh. It backs B2B software companies (A$1-50m ARR) and enduring family-owned businesses (A$5-50m EBITDA) across transport and logistics, healthcare, fintech, construction and proptech.

Sector focus

Growing B2B software and technology businesses, plus enduring long-standing or heritage brands and family-owned businesses.

Geography

Australia and New Zealand, with selective support for expansion through pan-Asian and global networks.

Ownership

Active operational growth partner using flexible permanent capital while leaving day-to-day operations autonomous.

Majority or minority

Prefers controlling interests but considers substantial minority investments of 20% or more.

Platform or bolt-on

Reviews industry consolidation and acquisitions of complementary technology and products with investee companies; no fixed platform/bolt-on allocation is stated.

Target revenue

Software businesses generally A$2m-A$50m+ annual revenue (including faster-growing A$3m-A$5m businesses); enduring businesses generally above A$10m revenue.

Target ARR

Growing B2B software businesses with recurring revenues of A$1m-A$50m.

Target EBITDA

At least cash-flow break-even for software, with positive EBITDA preferred; enduring businesses generally A$5m-A$50m EBITDA.

Enterprise value

Enduring-business transactions generally A$20m-A$250m enterprise value.

Capital model

Flexible, permanent family capital with no fixed fund-life or forced exit; can provide capital-out, growth capital or both.

Hold period

No fixed timing to realise investments; Teoh invests for the long term and does not trade in and out of companies.

Founder ownership

Founder-led and family-owned businesses may retain ownership and operational autonomy; Teoh supports two-stage exits and retained shareholdings where appropriate.

Sources

• teohcapital.com · portfolio page
• teohcapital.com · research
• teohcapital.com · research
• teohcapital.com · research
• teohcapital.com · research
• teohcapital.com · research
• teohcapital.com · website