Investments

Portfolio Company

% share in total portfolio at
31-Dec-22

Value as of 31-Dec-22
GEL millions

Listed and Observable portfolio companies

30.8%

985

BOG

26.0%

830

Water Utility1 4.8% 155

Private portfolio

69.2%

2,213

Large portfolio companies

44.9%

1,438

Retail (pharmacy)

22.7%

725

Hospitals

13.5%

433

Insurance (P&C & Medical)

8.8%

280

Investment stage portfolio companies

15.7%

501

Renewable Energy

7.0%

225

Education

5.1%

164

Clinics and Diagnostics 3.5% 112

Other portfolio companies

8.6%

274

Total portfolio value

100.0%

3,199

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 4Q22 reflects the application of the put option valuation to GCAP’s 20% holding in the business.