In line with our vision to invest in innovation and growth and to capitalise on secular trends in digital adoption, we invested in a portfolio of pre-IPO stage, high-growth companies that specialise in next generation technologies. The investments have remained relatively resilient during Covid-19 and are expected to perform strongly as the businesses continue to build on the large addressable market opportunity.

The investment portfolio is held through a collective vehicle to provide diversification and comprises minority stakes in Snowflake, UiPath, DoorDash, DataRobot, Samsara, BYJUs and Outreach, among others. The portfolio companies provide mission-critical cloud enterprise software, artificial intelligence and IoT solutions or operate in the direct-to-consumer e-commerce and edtech verticals. The companies are led by highly capable management teams, have a leadership position in their respective domains and are operating at large scale across multiple geographies.

The investments are expected to generate favorable returns for GFH and our investors, while providing attractive structural downside protection.