Jul 12, 2026 – 6.38pmOne of Firmus Technologies’ oldest backers has boosted its holding value for the buzzy neocloud company following Street Talk’s revelation last week of a mega $US2 billion ($2.9 billion) equity raising.Tectonic Investment Management on Friday told investors in its Opportunities Fund that its 25.3 per cent return in the June quarter was largely driven by writing up the value of its investment in Firmus to match the company’s new $US8.5 billion ($12.2 billion) pre-money valuation from its latest cash call.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Firmus backer marks up stake ahead of vote for $2.9b raising
Tectonic Investment Management told investors that its 25.3 per cent return in the second quarter of 2026 was largely driven by Firmus.
177 words~1 min read
