Summary Q2 2025
New investments: The fund completed one new investment in Q2 2025, bringing the total number of portfolio transactions to 56. Following this transaction, the fund is approximately 99% committed and therefore fully committed.
Valuation development: The fund’s valuation remained stable compared to the previous quarter, with a gross MOIC of 1.5x. Even though a new investment was made at a lower valuation, overall portfolio value remained steady due to revaluations of existing holdings: a positive signal. Note: The fund is USD-denominated; as a result, recent FX fluctuations may cause the net asset value shown in the Capital Account Statement to differ slightly from the figures in this report.
Capital calls: In June 2025, a capital call of approximately 4% of commitments was issued, bringing total called capital to around 55%. No further capital calls are expected for the remainder of 2025. Net distributions to investors are anticipated during 2026.
