New investments: No new investments were made in the second quarter. With three investments as of Q2 2025, approximately 20% of the fund is invested.
Valuation development: The fund’s value increased in Q2 2025 from 1.0x to 1.2x gross MOIC, driven by a solid write-up in the portfolio this quarter.
Capital calls: The most recent capital call was sent in May 2025 for approximately 7% of commitments. In total, about 20% of commitments has been called. The next capital call is expected at the end of 2025 or early 2026. We will update you as soon as there is more clarity on timing and size.
