Investments

Portfolio Company

% share in total portfolio at
31-Sep-23

Value as of 31-Sep-23
GEL millions

Listed and Observable portfolio companies

36.0%

1,251

BOG

31.4%

1,092

Water Utility1 4.6% 159

Private portfolio

64.0%

2,228

Large portfolio companies

40.3%

1,403

Retail (pharmacy)

19.5%

679

Hospitals

11.0%

382

Insurance (P&C & Medical)

9.8%

342

Investment stage portfolio companies

15.2%

528

Renewable Energy

7.5%

261

Education

4.9%

171

Clinics and Diagnostics 2.8% 96

Other portfolio companies

8.5%

297

Total portfolio value

100.0%

3,479

In December 2021, Georgia Capital announced a sale of an 80% stake in water utility business to FCC Aqualia for a cash consideration of US$ 180 million. The valuation of Water Utility in 3Q23 reflects the application of the put option valuation to GCAP’s 20% holding in the business.