VNV Global: Portfolio companies taking steps forward - SEB
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VNV Global: Portfolio companies taking steps forward - SEB

The Q3 NAV declined by 4% in USD and 9% in SEK terms from Q2/24, with a markdown in BlaBlaCar (-12% q/q) being the main driver. However, the portfolio companies appear to be performing well operationally and ramping up growth efforts after a period of prioritising profitability. With limited changes to the portfolio overall, the shares continue to trade at a historically high discount of 58%, despite VNV announcing exits close to NAV values.

The Q3 NAV declined by 4% in USD and 9% in SEK terms from Q2/24, with a markdown in BlaBlaCar (-12% q/q) being the main driver. However, the portfolio companies appear to be performing well operationally and ramping up growth efforts after a period of prioritising profitability. With limited changes to the portfolio overall, the shares continue to trade at a historically high discount of 58%, despite VNV announcing exits close to NAV values.
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