Bluedot CEO and founder bullish on the company’s future

After several months of negotiations, SSL Venture Capital (SSLVC)  has completed the sale of its shares in data and research company Bluedot Data Intelligence.

Larren Peart, Bluedot CEO and founder, has purchased all remaining shares in Bluedot, including SSLVC’s holdings, which completes the venture capital company’s divestiture of the research company.  

Peart, who initially had 20 per cent ownership of the company at the time of the exit, has repurchased shares from SSLVC, Yes Iyah Ltd, as well as from two other private investors.

According to Anthony Dunn, COO of SSLVC, the publicly listed entity is pleased with the amicable settlement of the matter.

“We’ve done our best in working together toward this outcome, whilst protecting the interest of our shareholders,” said Dunn.

He added: “We are happy to see that Larren has been able to meet the terms of the agreement and conclude the transaction.”

Dunn also spoke positively of Bluedot, stating: “We continue to think well of the Bluedot team and wish them continued success.”

Joint statement issued by SSLVC and Bluedot

In a statement jointly issued by Bluedot and SSLVC, the Bluedot CEO remarked: “I’m bullish on Bluedot and our mission to broker a culture of data-driven decision making in our region. In the wake of the pandemic, we saw opportunities for growth and expansion that would not be possible as we needed certain flexibility that would not have been possible under a listed company.”

Continuing, he said: “We are happy to have settled all the necessary obligations and are looking forward to aggressively executing our mission.”

Speaking to the future of the company, Peart noted: “I’ve never been more excited about Bluedot and I’m looking forward to what is to come.”

SSL Group CEO Zachary Harding said: “We (SSLVC) invested in Bluedot because we believed in the company, and, when the decision was made for them go it alone, we also supported that within the parameters of our agreement. The truth is that this would have been a straightforward transaction had it not been for the challenges presented by the COVID- 19 pandemic.”

Harding commended Peart, pointing out that, “even amidst the constraints of this economy he was effective at gathering the capital needed to meet his obligations and facilitate this mutual exit”.

He added: “SSLVC was built as a vehicle that supports entrepreneurs and young businesses as they move toward their growth phase.”