Regulatory press release

Webrock Ventures Interim Report Q1 2024

Webrock Ventures

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Key events during the quarter

Webrock successfully closed a SEK 76,8 million private placement at a pre-money valuation of SEK 301 million.
On February 5, Webrock successfully debuted on the NASDAQ First North Growth Market under the ticker “WRV”.
In February, Webrock made an investment of SEK 8,0 million in Chalinga as a follow-on investment. Coupled with an investment from Mr. Orange, the company received a total capital injection of SEK 8,9 million.
In February, Webrock made an investment of SEK 3,0 million in Score as a follow-on investment.
On March 5, FinanZero announced a media-for-equity deal worth USD 4 million with 4Equity, a prominent Brazilian investment fund. This transaction granted 4Equity a minority stake in FinanZero, and it was executed at the same valuation as the company’s preceding funding round in June, 2023.

Net asset value

Net Asset Value (NAV) of SEK 625,9 million on March 31, 2024, an increase of 8.3% compared to SEK 578,0 million on December 31, 2023.
NAV per share of SEK 29,6 on March 31, 2024 compared to SEK 34,3 on December 31, 2023.
Portfolio value of SEK 577,7 million, cash and cash equivalents of SEK 46,8 million, and other net assets of SEK 1,4 million on March 31, 2024.

Financial result

Change in value of financial assets amounted to SEK -15,0 million (-).
Investments during the period amounted to SEK 11,0 million (4,1).
Operating profit amounted to SEK -19,9 million (-3,9).
Net profit amounted to SEK -20,0 million (-3,9).
Profit per share amounted to SEK -1,0 (-0,2).

Webrock Ventures CEO, Joakim Pops, comments:

“In the first quarter, Webrock Ventures reached several significant milestones. January marked the successful closure of a SEK 76,8 million private placement, culminating in our debut on the Nasdaq First North Growth Market on February 5, 2024. This quarter stands as a defining moment in our company’s history, affirming our commitment to delivering enduring value for our shareholders.”

	Mar 31, 2023	Dec 31, 2023	Mar 31, 2024
Net asset value (SEKm)	718,3	578,0	625,9
Net asset value per share (SEK)	42,7	34,3	29,6
WRV AB (publ) share price (SEK)	N/A	N/A	18,0

Events after the end of the period

123Qred Solucoes Financeiras Ltda (Qred), a portfolio company of Brazil Finance Group (BFG), successfully secured SEK 54 million from a Brazilian credit management firm. This capital injection is solely dedicated to bolster new loan origination efforts.
Webrock extended a SEK 5 million loan to Qred to reinforce its cash reserves in alignment with the covenants set by the credit management firm.

About us
Founded in 2018, Webrock Ventures is a venture studio that starts and builds companies in Brazil in partnership with successful Swedish tech companies. Brazil has over 215 million people and is one of the world's largest economies and the population is among the most digitally engaged in the world. Webrock leverages established Swedish companies' proven business models and technology to gain a head start in Brazil's fast-growing digital industry that matures later than in Sweden. By bringing together ideas, capital, resources, and talent, Webrock acts as a co-founder, building growth companies from the ground up. With a 35-60 percent ownership stake in its portfolio companies, Webrock ensures substantial value for a limited initial investment. The company's share WRV is traded on Nasdaq First North Growth Market with Redeye AB as Certified Adviser.

For more information, please visit: https://webrockventures.com/

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