Australian Microequities Asset Management has acquired a 19% stake in Global IT Factory through its pre-IPO fund, “Private to Beyond the IPO.”

Global IT Factory, a Melbourne-based curriculum management software provider, serves educational institutions in Australia, New Zealand, Singapore, and the Middle East. It holds a 22% market share in Australia and New Zealand, according to Microequities.

This marks the first external investment for Global IT Factory since its founding a decade ago by Boris Rozenblat, a former Fujitsu Australia director.

Led by CEO John Pham, also a former Fujitsu executive, the company plans to use the funds for product development and expansion into new markets.

Financial details of the transaction were not disclosed.

Microequities’ portfolio includes Medical First Group, Padua, and Encompass, with past successful exits like the US$135 million sale of InstantScripts to Wesfarmers Health.