About Us
Since inception, we are proud to have consistently returned capital to shareholders, while at the same time compounding value within our investments. To this end, as investments are realised, the Board plan to distribute 50% of net cash profits from each asset sale.
Cumulative Cash Distributed
Compounded annual growth in LDG's NAV since December 2020 vs. indices total return
Total enterprise value of LDG portfolio companies, reflecting the scale and quality of our investments across European markets.
NAV per share since inception
Since 2025, fully invested and in harvesting phase
Money multiple since inception
DBAY's 18-year track record
How DBAY thinks about investing
‘Orphan’ European lower mid-market companies
Distinctive, but under-appreciated, market position
Cash generative
EBITDA of £10m+
B2B services, specialist consumer & light industrials
Robust asset base (property, IP, strong brands)
Avoid sectors with binary outcomes e.g. biotech
Durable barriers to entry
High revenue visibility
Low customer concentration and ‘sticky’ demand
Available at a deep discount
Large margin of safety
Capital preservation and downside protection are paramount.
Important information
Past performance is not a reliable indicator of future results and should not be relied upon as such. The value of investments and any income derived from them may go down as well as up, and investors may not recover the amount originally invested. Returns are not guaranteed, and historical performance data does not constitute a promise or guarantee of comparable future performance. Any performance figures referenced in this website are provided for illustrative purposes only and reflect performance during a specific period. Market conditions, economic factors, and other variables may differ materially in the future, and past trends may not continue. Prospective investors should carefully consider their own financial circumstances, investment objectives, risk tolerance, and liquidity needs before making any investment decision. Nothing contained in this document constitutes investment, legal, tax, or other advice, and independent professional advice should be sought where appropriate.