The note shows estimated gain/loss and annual IRR during the period of Norfund’s ownership for investments exited in 2020. Total reflow from investments includes all cash flows, for example dividends, sales sums and other returns, during the period of Norfund’s ownership. Investment in and exiting from projects may take place over a period of years, and the estimated realised gain/loss may thus be entered in the accounts in different periods.

(In 1000s of NOK)Fanisi Venture Capital FundHorizon Equity Partners Fund IIISEAF Sichuan Small Inv. Funds
Cost price, called and fully paid capital96 49222 46719 921
Total reflow investment22 25318 61032 677
Gain/loss (-) on exited investments-74 239-3 85712 757
Realised gain / loss (-)-106 371-3 68310 563
Realised FX gain/loss (-)32 132-1742 194
Year of first disbursement200920072001
Investment currencyUSDZARUSD
IRR NOK-27%-3%6%