# TDM Growth Partners

TDM Growth Partners is a Private Equity based in Sydney, Australia.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Sydney, Australia
- **Region:** Oceania
- **Address:** Sydney, Australia
- **Founded:** 2005
- **Assets under management:** Undisclosed
- **Website:** tdmam.com
- **LinkedIn:** https://www.linkedin.com/company/tdmgrowthpartners

## Regulatory record

- **Reports private funds:** No

## About

TDM Growth Partners is a private equity firm founded in 2004 in Sydney, Australia. It acquires and manages a portfolio of growth companies across various sectors. The firm also publishes market analysis and insights.

## Sectors

- Enterprise Software
- AI/ML
- FinTech
- Digital Health
- Consumer

## Offices

- New York, United States

## People

- Tom Cowan — Partner
- Ed Cowan — Partner
- Ben Gisz — Partner
- Jonathon Higgins — Partner

## Questions

### Who runs investment decisions at TDM Growth Partners?

The firm is led by its four partners: Tom Cowan, Ed Cowan, Ben Gisz, and Jonathon Higgins. Decision-making follows a partnership model rather than a traditional investment committee hierarchy. The group evaluates opportunities collaboratively and invests off its own balance sheet, which means every decision carries direct personal financial exposure for the partners.

### How is TDM Growth Partners structured — is it a fund or a partnership?

TDM Growth Partners operates as a private investment partnership deploying permanent capital rather than raising blind-pool funds from external limited partners. This structure removes forced exit timelines, allowing the firm to hold positions for a decade or longer. The permanent-capital model is unusual in growth equity and shares more DNA with a family office than with a traditional private equity manager.

### Does TDM Growth Partners invest only in private companies?

No. The firm invests across private and public markets, taking positions in late-stage private rounds, participating in IPOs, and holding shares post-listing. Twilio, for example, remained a portfolio holding after its 2016 IPO. Guzman y Gomez was held privately and through its June 2024 ASX listing. The firm's strategy treats public and private as a continuum.

### Which sectors does TDM Growth Partners explicitly avoid?

The firm has never publicly stated formal sector exclusions. Based on its observable portfolio, TDM Growth Partners stays away from heavy-industrial, extractive, and speculative biotech sectors. Its known investments cluster in enterprise software, fintech, digital health, and consumer brands with recurring revenue models — sectors where the partners have operational familiarity and long-duration holding patterns make structural sense.

### What is TDM Growth Partners' strategy for exiting investments?

The firm does not operate under a mandate to exit positions within a fixed period. Because it uses permanent capital, liquidity events — IPOs, trade sales, or secondary block trades — arrive when corporate logic supports them rather than when a fund life expires. Guzman y Gomez illustrates the approach: TDM held the position through over a decade of private growth and chose to retain a stake after the June 2024 IPO rather than selling into the listing.

## Related profiles

- [TDK Ventures](https://altss.com/profile/tdk-ventures)
- [TDR Capital](https://altss.com/profile/tdr-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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