Investments

Portfolio Company

% share in total portfolio at
31-Dec-23

Value as of 31-Dec-23
GEL millions

Listed and Observable portfolio companies

37.7%

1,385

BOG

33.4%

1,226

Water Utility1 4.3% 159

Private portfolio

62.3%

2,287

Large portfolio companies

39.1%

1,436

Retail (pharmacy)

19.4%

714

Hospitals

9.4%

344

Insurance (P&C & Medical)

10.3%

378

Investment stage portfolio companies

15.4%

567

Renewable Energy

7.3%

267

Education

5.2%

189

Clinics and Diagnostics 3.0% 111

Other portfolio companies

7.7%

284

Total portfolio value

100.0%

3,672

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 4Q23 reflects the application of the put option valuation to GCAP’s 20% holding in the business.