ANAVA Fund of Funds Publishes 2024 Financial Statements
The ANAVA fund of funds has published its financial statements for the 2024 fiscal year. The statements show a net asset value of €17.617 billion, a significant increase compared to 2023 (€11.593 billion). The fiscal year saw an injection of €5.804 billion, enabling managers to pursue their active investment strategies.
The result was marked by a profit of €0.213 million, compared to €0.565 million the previous year. However, it is essential to remember that the primary purpose of a fund of funds is not to generate profits. While it is necessary to ensure a certain level of profitability for its promoters, its mission goes beyond mere financial logic.
The year's revenue stood at €0.951 million, derived from gains on assets valued at fair value. These gains came from the Badia Impact Squared fund (€0.285 million) and the 216 Capital Fund I (€0.991 million). Badia's mission is to invest in early-stage technology companies in Jordan, Egypt, Morocco, Lebanon, and Tunisia. Meanwhile, 216 Capital Fund I targets startups. The participation in the Titan Seed Fund I Eur, JANNGO CAPITAL STARTUP FUND SLP, and Go Live International Fund showed a total loss of €0.365 million. This is due to the recent investment, which explains the accounting losses for now. It is essential to consider that these figures may reverse over the fund's lifecycle, and this is only a snapshot as of December 31, 2024. The actual evaluation of the investment will be made after the fund's lifespan.
For now, there are no revenue from placements. Management fees remained stable at €0.716 million. The operating result stood at €0.098 million.
ANAVA's profitability is expected to improve in the coming years, particularly with the exits that will be realized by the funds in which they have invested. The fund of funds will continue to contribute to other investment vehicles, and we believe that, over its lifespan, it has the capacity to display one of the best returns in the Tunisian capital industry.
