Transparency is something the market likes. And the G2D, the holding created and listed on B3 by GP for disruptive investments, it is riding the wave to catechize its audience. It announced last night, the 19th, that since the initial public offering (IPO) took place, the book value of its assets has risen from R$ 6.35 to R$ 9.40. How long did it take for this gain to be achieved? Answer: 60 days approximately.
The company is not a venture capital fund, but works with a logic very similar to one. Not by chance, Fersen Lambranho, chairman of the board of directors and one of GP’s controllers, said in a recent interview with EXAME IN that G2D is a democratization of retail access to this type of application. The focus of investments are companies in the pre-IPO stage or other relevant liquidity event. “This is where we understand that the best relationship between risk and return is,” stated Lambranho, at the time.
The latest addition of value, reason for the statement, was a series B fundraising round of the onslaught Blu, a Brazilian fintech in which G2D has direct participation and not through other vehicles, led by Warburg Pincus.
With the contribution, the BRL 50 million invested in Blu in 2018 were now valued at BRL 211 million. G2D received R$54 million in cash, for a partial sale, and the remaining stake in the company was valued at R$157 million. It is as if all the participation held would be, from now on, the return — since the invested capital has been recovered. It’s guaranteed.
According to the company’s statement, Blu is a fintech “leader and pioneer in financial solutions that connect retail to industry, offering alternatives to reduce the retailer’s cost and increase the payment term for the purchase of their goods and allowing the industry to sell to retail without risk of default.” Today, more than 15 thousand shopkeepers and 2.5 thousand industries throughout Brazil are digitally connected by Blu.
the crypto explosion
But total equity appreciation per share has two other “success” stories as food. Right after the debut of G2D, came the IPO, in the United States, of the Coinbase. Thus, in May, G2D received the equivalent of R$ 31 million due to the company’s offer on Nasdaq – the equivalent of 33 times the total invested in the business, through a fund dedicated to betting, mainly in Silicon Valley .
A few days ago, the contribution of R$ 1 billion from the Softbank on the Brazilian platform Bitcoin Market — another direct investment in Brazil, such as Blu —, caused the brokerage to be valued at no less than R$ 10.5 billion. Because this assessment means that the capital invested by G2D had its value multiplied by 19.
And at B3, did people understand? Looks like not yet. Almost exactly two months after listing on the Brazilian stock exchange, G2D shares are now finally close to the value set for the debut, at R$7.16. In yesterday’s trading session, Monday, 19, the shares closed the day valued at R$ 7.10. Since the beginning of this month of July, the papers have been traded above R$7, consecutively, for the first time.
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