Heliad - Market environment turning slightly more positive
Heliad reported a net asset value (NAV) per share of €18.20 at end-March 2024, roughly unchanged compared to end-September 2023 (€18.17), as the 25% share price increase of the listed flatexDEGIRO (Heliad’s largest holding) offset some fair value reductions in Heliad’s private portfolio. Meanwhile, several of its portfolio companies announced important developments. This includes solid FY23 results from Raisin and Clark, the combination of Razor Group with Perch, FINN’s €100m funding round and Enpal’s €1.1bn debt raise. While venture capital (VC) deal activity and exit opportunities remain subdued, there are initial signs of a stabilisation and recovery.Finlab AG, formerly Altira AG, is a Germany-based investment company engaged in the building of companies in the financial services technologies (fintech) sector. It focuses on developing German fintech start-ups, as well as provides venture capital in a form of long-term participation and ongoing support of the investment. Additionally, the Company is engaged in venture deals, such as seed- and follow-on rounds for fintech companies in Germany and abroad. It also invests in venture founding rounds, primarily in companies located in the United States and Asia. Its portfolio includes nextmarkets GmbH, a company operating e-learning platform for global investors.
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