.png)
The 25/26 financial year was characterised by a mix of improving sentiment and continued volatility across the emerging companies market. While broader economic and geopolitical uncertainty has continued to influence investor confidence, there are encouraging signs that conditions for Australian small and micro-cap companies are gradually improving.
Recent IPOs and capital raisings have provided further evidence of renewed appetite for compelling growth businesses, with a number of successful listings demonstrating that investors remain willing to support companies with strong fundamentals and clear growth opportunities.
Against this backdrop, we are pleased with the progress and performance of our portfolio companies throughout FY26. Our focus remains firmly on creating liquidity opportunities and maximising value for unitholders, with the team actively assessing a range of potential realisation pathways, including trade sales, secondary transactions, recapitalisations and public market opportunities.
In this quarter’s video update, we provide an overview of the market environment, discuss developments across the Fund’s portfolio and outline our continued focus on converting the progress of our portfolio companies into liquidity events and attractive outcomes for investors.
Watch the June 2026 Quarterly Investor Update here.
Thank you for your continued support of the 248 Emerging Companies Fund II.