Surely things have to change, Sendle will be revalued in the...

Surely things have to change, Sendle will be revalued in the next series raise which should see an improve carrying value, the rest of these probably will hold or see a rerate lower based on current market conditions particularly on tech companies with high cash burn. The proof is in the materiality through successful exits from these companies but by the look of their strategy, TVL are holding their investments for min 3-5 years

Cash on hand alone has this well undervalued, I do think we will see a move towards NTA in the back half of this year.