Opportunity Fund - Executive Summary Q4 2020 - Holdun

OPPORTUNITY FUND

EXECUTIVE SUMMARY Q4 2020

How Did We Fare?

For the 4th Quarter of 2020, the fund posted a return of 1.31%, bringing the since inception (annualized) return to 8.52%. Fuel Ventures was the main contributor to the positive return over the quarter.

Fuel Ventures is an early and growth-stage investor in leading technology businesses. Fuel Ventures invests across 23 exponential growth companies.

Of those 23 portfolio companies, 17% are on the west coast and 52% on the east coast of the U.S., 26% in Europe, and 4% in Latin America. From a financing stage perspective, 30% of the fund is pre-series A, 35% is series A, 13% series B, 13% series C, and 9% is series D+.

Exciting new investments in companies such as Ubicquia offer fantastic growth potential. Ubicquia’s smart cell and smart grid technologies look to take advantage of 5G and the growing movement towards smart cities.

Giftagram an instantaneous gift sharing app experienced a breakthrough year in 2020 with total revenue increasing nearly 2.5x. The remote work environment drove demand for our B2B corporate gifting solution, and propped up our B2C eCommerce business. This generated $4.5m of revenue ($5.2m counting the deferred revenue signed in 2020). In the second half of 2020, Giftagram also became operationally cash flow positive.

EqiBankthe World’s First Licensed and Regulated Offshore Bank for National Currencies, Crypto and Digital Assets, was added to the portfolio during the quarter along with an investment into PepperHQa contactless ordering and payment solutions to small to medium-sized businesses.

A capital contribution to the Holt Accelerator was also made during the quarter. In just three years, the Holt Accelerator has established a global platform enabling them to invest across every continent into the most promising fintech sectors, including digital ID, Lending, insurtech, digital assets, cyber and more. With a total of 27 companies already in their portfolio, the team continues to track over 10,000 start-ups, perfectly positioned to take advantage of recent market disruption.

Performance Analysis

As at 30th September 2020

* Since Inception Returns as of the 31st of July 2016.

Trailing Returns (Net)

3-month

6-month 1-Yr 3-Yr Since Inception *
Portfolio

1.31%

4.84%

(1.26%)

5.92%

8.52%

Benchmark **

11.92% 15.55% 11.61% 11.03%

6.52%

**Benchmark is the HFRI Fund Weighted Deposit Fund Index

HOLDUN