IIn 2024 Norfund exited from three funds and seven equity investments. These yielded the following internal rate of return (IRR*):
| Note 3 – Exited investments | |||
|---|---|---|---|
| IRR (NOK) during Norfund's time as owner: | % | Cost price NOK million | Comment |
| ARREND Central America | 20.3% | 23 | Only partly exited in 2024, IRR calculated on the basis of total investment |
| Cambodia-Laos Development Fund | 4.9% | 7 | |
| Basecamp Explorer | 4.8% | 36 | |
| Scatec ASYV | -0.1% | 4 | |
| Agrivision | -7.0% | 162 | |
| AfriCap Microfinance Investment Co | -8.8% | 4 | |
| Lake Harvest Group | -13.3% | 162 | |
| Sunshine | -14.9% | 15 | |
| Kandeo Fund | -73.8% | 4 | |
| African Century Nampula | -83.4% | 5 | |
* IRR represents the annual return that yields net present value of cash flows from investments equal to zero. Cash flows consist of investments, repayments, allocations and fees on exiting. | |||