Similar to our two other investment styles, Sofina Growth showed overall good performance during the first half of 2021. This is mainly thanks to the sectors, geographies and end markets to which its portfolio companies are exposed.

In Asia, Sofina completed two new investments. It acquired a stake in Mamaearth, an Indian direct-to-consumer brand of personal care products, enabling urban millennials to access natural, toxin-free products. It also completed an investment in ReeToo, an innovative China-based in vitro diagnostics company which develops and manufactures fully automated diagnostic solutions for cell morphological analysis.

Closer to our headquarters, Sofina led the Series B financing round of Dott, a micro-mobility company active in seven countries and 18 cities in Europe. Dott frees our cities by offering clean rides in cooperation with local authorities to build the future of urban mobility.

We also participated in new funding rounds in our existing portfolio companies in Europe and in Asia, such as Graphcore, VerSe Innovation (Dailyhunt/Josh), Cred, Vinted and Zhangmen.

On the divestment side, Sofina exited its stake in Clover Health, following its IPO of early January 2021.

In addition, Adjust, a global industry leader in mobile measurement and fraud prevention, announced its acquisition in February 2021 by AppLovin, a company specializing in marketing mobile applications that completed its IPO shortly thereafter. Sofina partly divested its stake in this company and partly received AppLovin shares as part of this transaction.

Finally, during the last six months four companies in the portfolio went public. We would like to congratulate 1stdibs, MissFresh, Spartoo and Zhangmen for their recent IPOs.

Attachments

  • Original document
  • Permalink

Disclaimer

Sofina SA published this content on 22 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2021 15:47:08 UTC.