Vostok now has a net asset value of $584.87 million. That’s down $291 million, mostly due to a payout of SEK 25 ($ 2.6) per share after the Avito deal closed. The company has also been able to redeem its bond debt as a consequence of the sale.
Vostok’s net result for Q1 was negative at minus $26.58 million. While it made a few investments this quarter, only one was directed towards a marketplace. The firm invested another $0.2 in Shwe Property. Scooter sharing service Voi recieved $10.1 million and taxi service Gett saw an investment of $2.3 million.
Vostok also became a new investor in Shohoz — a fast-growing ride-sharing service in Bangladesh — with $7 million.
There’s lots of room for more investments from the company as 32 percent of its holdings — or $192 million — is in cash.
“Our investment strategy is the same as before we sold Avito,” CEO Per Brilioth said in his presentation. He said classifieds are the holy grail of network effects.