One side of the share market which I think is a great place to look for investment ideas is the mid cap space.
In this area I believe there are a good number of shares that have the potential to grow strongly over the next decade, potentially generating outsized returns for shareholders.
Three mid cap shares that I would buy this month are listed below:
Kogan.com Ltd (ASX: KGN)
One mid cap ASX share to consider buying is Kogan. Although its performance was a touch disappointing in FY 2019, it finished the financial year in a positive fashion. This momentum appears to have carried over into FY 2020, setting it up to deliver a strong profit result. Over the long term I believe Kogan is well-placed to grow strongly thanks to its exposure to the continued rise in online shopping, its expansion into potentially lucrative verticals such as energy and mobile, and the launch of Kogan Marketplace.
Nearmap Ltd (ASX: NEA)
Another growth share that I would buy with a long-term view is Nearmap. It is a leading aerial imagery technology and location data company which has been growing at a very strong rate over the last few years. This has continued in FY 2020, with management expecting annualised contract value (ACV) to be in the range of $116 million to $120 million. This represents growth of 28.6% to 33% on FY 2019's ACV of $90.2 million. This is still only scratching at the surface of a global aerial imagery market estimated to be worth US$10.1 billion in 2020.
Zip Co Ltd (ASX: Z1P)
A final mid cap share to consider buying is Zip Co. I believe it is well-positioned to grow strongly over the next decade thanks to the increasing popularity of buy now pay later as a payment method and its global expansion. In addition to this, next year the company intends to launch and accelerate the growth of its Zip Biz product. This is a buy now pay later solution for small businesses, offering up to $25,000 in revolving credit. This is a potentially lucrative market and could support strong annualised transaction volume growth over the coming years.