Quote: “Work on long-term infrastructure continues, including hiring to strengthen our team, work preparing the planned IPO, last touches to the rebranding project which will launch in February, and preparations to elect a new board including independent members. This work has also included a review of our valuation policy for the portfolio. Previously we have used a combination of four different models: Morbitzer Scorecard, Last Paid Price, peer benchmark (more theoretical), and dcf of future exit (more theoretical). We made the tough (but we think healthy) decision to, as far as possible, favor Last Paid Price valuations going forward since these are based on real-life transactions. As a result, the percentage of our portfolio valued with the Last Paid Price method shifted from 50% in 2021 Q3 to 86% in 2021 Q4 [...]”

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2021 Q4 Report

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