Flat Capital AB (publ) ("Flat") may need to write down the value in whole or in part in the portfolio company Getir. The assessment is made after updated information from Getir regarding their current financial situation. Getir has faced several challenges in recent year, which has also been covered in the media as a result of the company withdrawing from several markets in Europe. A full write-down in Getir would entail a negative adjustment of Flat's net asset value ("NAV") of approximately 32.6 MSEK, or approximately 0.66 SEK per Flat share, corresponding to 8.1% of the latest reported NAV as of March 31, 2024
Flat Capital AB (publ) (“Flat”) has committed to invest approximately 11 MSEK in Physical Intelligence (“Pi”) through two sub-investments, of which the first of approximately 6.3 MSEK has been completed. Pi is a research company recently founded by prominent scientists, roboticists and entrepreneurs with the ambition to integrate AI into the physical world. The company intends to develop basic models and learning algorithms to empower robots and physically enabled devices of the future. Other investors in the company include OpenAI Startup Fund, Sequoia Capital, Khosla Ventures and Thrive Capital. Flat's investment is made through a SPV structure that involves administrative costs in line with market practice
Flat Capital AB (publ) (“Flat”) invests approximately 11 MSEK in xAI through a so-called Special Purpose Vehicle (“SPV”). Founded in 2023 by Elon Musk, the company aims to develop and lead revolutionary AI technologies. The company announced on May 26 a $6 billion funding round with participation from Sequoia Capital, Andreessen Horowitz and Valor Equity Partners, among others. Flat’s investment is made through a SPV structure that involves administrative costs in line with market practice
The Annual General Meeting (“AGM”) of Flat Capital AB (publ), 556941-0110, (the "Company") took place today, 6 May 2024. The AGM was conducted with both physical participation and postal voting
Flat Capital AB (publ) ("Flat") publishes its interim report for January-March 2024. Net asset value per share decreased by -2.4% compared to the previous quarter to SEK 8.20 per share. During the quarter, two investments were announced; in the legal AI company Harvey through a so-called Special Purpose Vehicle ("SPV"), and the data and AI company Oden Technologies that serves the manufacturing industry. Flat recognize a somewhat improving market environment and with a strong cash position the company intend to take advantage of the attractive opportunities that arise through Flat's global and unique network