VEF (VEFL SDB) Investor presentation summary

Strategy and track record

• Focuses on venture and growth-equity investments in private fintech companies across emerging markets, targeting sizeable minority stakes with board representation.

• Demonstrates a strong track record with successful exits, such as Tinkoff Bank (6.1x return) and iyzico (57% IRR), and partial exit from Juspay (37% IRR).

• Achieved a 12.5% NAV per share CAGR and 65% IRR since inception, with a 3.6-year average hold period.

Team and capital partners

• Led by a seasoned management team with deep emerging market fintech expertise and over 20 years of experience in financial services and investing.

• Supported by high-caliber institutional investors, including Ruane Cunniff, Fidelity, and Wellington Management, who have committed to co-investments.

Portfolio overview

• Holds 13 leading fintechs across Brazil (54% of NAV), Mexico (24%), and India (16%), with a total portfolio value of $447M as of 4Q25.

• Largest holdings: Creditas (49.2% of portfolio), Konfío (23.5%), and Juspay (15.5%).

• Portfolio companies are diversified across lending, neobanking, payments, embedded finance, blockchain, wealthtech, and insurtech.