Flat Capital AB (publ) ("Flat") invests 3.0 MUSD, corresponding to approx. 32 MSEK, in OpenAI, the pioneering artificial intelligence ("AI") research company that aims to develop and lead revolutionary AI technologies. Since the company was founded in 2015, it has been at the forefront of AI development, resulting in platforms such as ChatGPT and Dall-E, as well as a large number of collaborations with leading global companies where OpenAI has integrated its AI technology
Flat Capital AB (publ) ("Flat") publishes its interim report for January-March 2023 where the net asset value per share amounts to 10.01 SEK, which corresponds to a decrease of -7.4% for the quarter. During the period, we have made an investment corresponding to 5.4 MSEK in the AI company DeepL and a divestment of all shares in Global-e which amounted to a final profit of SEK 15.9 million, since Flat's IPO, resulting in a particularly attractive return of approx. 10.4x. Although the market during the period has been characterized by continued uncertainty and nervousness, we see that investment activity has cautiously started and that valuations have stabilized somewhat. We are following the market development with both humility and enthusiasm, where we are prepared with cash and ambition to take advantage of the attractive opportunities that arise
The annual report for 2022 has been published today March 31, 2023, and is now available on our website www.flatcapital.com and as an attached document. You can also read all financial reports on the following link: https://www.flatcapital.com/en/investor-relations/For further information
Flat Capital AB (publ) ("Flat") has divested all its shares in Global-e, with an approx. value of SEK 4.8 million, generating a total profit of SEK 15.9 million for the initial investment in Flow Commerce ("Flow") and a return of approx. 10.4x, corresponding to an annual return (IRR) of +6,800%, since Flat's IPO in 2021