Invests in technology companies.
Spring trades as if its private portfolio is worth zero or less, even though 2025 delivered better profit, higher total liquidity, and an almost debt-free balance sheet. For that discount to close, the company needs to prove value through realizations, collected interest, or a c…
Spring trades below its net liquid assets even before giving value to the non-current portfolio, but the discount reflects doubts about liquidity quality, monetization speed, and capital allocation rather than disbelief in the assets themselves.
Journey and Wellborn are carried together at ILS 21.0 million and make up about 76% of Spring Ventures' private portfolio, while the company's market cap still sits below net liquid assets. The filing does not prove that the carrying values should pass into the market price in f…
