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WEBROCK VENTURES QUARTERLY UPDATE SECOND QUARTER OF 2021 1 September 2021 Dear fellow shareholders , I hope this email finds you well . We are pleased to update you on the key results and highlights for the second quarter of 2021. It has been a busy summer , and we look forward to sending you a full Interim Report - First Nine Months of 2021 in October . Our portfolio companies have maintained strong market positions during the quarter and high exposure to attractive long - term trends such as changing demographics , accelerated digitalization , and increasing interest for alternative investments . Going forward , our key priority is to support our companies to capture these opportunities while maintaining focus on new strategic initiatives such as Cardo Health . Brazil's current state of affairs • • • • The Covid - 19 situation is improving , and vaccinations are gathering pace with 134,5 million Brazilians having received the first dose , representing 63.7 % of the total population . The International Monetary Fund increased the Brazilian GDP growth forecast from 3.7 % to 5.3 % in 2021. The positive economic situation is supported by a reduced fiscal deficit , an improved trade balance , and the reopening of most economic activities . During H1 2021 , a total of USD 5,2 billion was invested in startups based in Brazil . By comparison , the total invested in the whole of 2020 - which was considered to be the best year on record for the ecosystem until recently - reached USD 3,5 billion . Many of the country's funding rounds have been led by international investors including firms such as SoftBank , Tencent , Accel , Ribbit Capital , and Tiger Global Management . According to Techcrunch , some investors are even seeing more opportunity in Latin America right now than in the U.S. Read more here . Highlights Investment portfolio development • • • IFRS - compliant Net Asset Value ( NAV ) was SEK 592,9 million on June 30 , 2021 , an increase of 13,1 % compared to SEK 524,0 million on March 31 , 2021 . In local currency , NAV amounted to BRL 347,5 million on June 30 , 2021 , an increase of 2.8 % compared to BRL 338,1 million on March 31 , 2021 . Cash & Bank was SEK 21,2 million on June 30 , 2021 , corresponding to 3.6 % of the Portfolio Value .