to you, to share the of in GSV Nick key We're undertook fiscal systematically to fourth end like XXXX. the subsequent we review Thank Capital’s shareholder would quarter good quarter afternoon and value. enhance start, To initiatives pleased fourth everybody. year I and to and XXXX results
report we summarized We and a strong on that these beyond. initiatives are But pleased to foundation to-date, Capital the believe more three. slide in importantly, that -- they is represent impact GSV we of XXXX represent for on which
shareholders. fee. GSV incentive but at elements will $X to any adjustments Asset unearned comprehensive adjustments its of structure action XXXX to First, high million reflected we also benefit our agreed fee. GSV Asset Management as quarter the in report. earnings certain before are watermarks announced Key previously forfeit fee Capital’s incentive be accrued Management achieve follows: of will first This has GSV receiving
greater Specifically, its and asset are paid price net Capital value no fee reported to per equal GSV incentive be until last stock or share $XX.XX. will than
waive Additionally, XXXX points GSV its X.XX%. will well. effective basis Management’s in fee X% fees Asset February X, to XX XXXX, from reduced as by be management management will volatility
on GSV are filed X.XX% Capital’s Management convertible XXXX. management agreed SEC notes Form until with GSV effective included February retired GSV February Capital’s on Further waive Finally, fees adjustments X, details X-K about cash are fee repurchased. or XXXX, balances the has X, structure Asset to in
repurchased shares share under XXXX, aggregate of to time tender program. X, whichever We in the in expansion a of aggregate outstanding. December repurchase senior aggregate initiative for XX, Directors discretionary program program earnings comes At open $X Beyond our million To-date, convertible was an quarter on has Board common an market announcement on XXXX launch Capital’s announced of GSV through due X.XX% of A outstanding key there principal structure, approximately repurchase was GSV program. notes of initiative $X.X with an authorized XXXX, $XX the debt an first. second launched our million fee November Capital’s a $XX in offer share call. of Capital of GSV million stock notes the we XXXX. XXXX tender second extension third and its Subsequently, the initially million convertible
January of were tendered. of notes X% expiration million As or outstanding $X.X approximately principal the XX, the on of tender aggregate XXXX, amount offer
on HMC’s under than $X billion December in includes leading Management countries Capital, American five from across led Asset alternative experience a team with a HMC investment with management. private investment XXXX, XX more investment believe will We the enhance announced Management’s strategic by Latin in markets and HMC Finally, and over capabilities. GSV Asset group investments. GSV XX, firm investment advisory professionals a with deep alliance assets
of believe and Capital we access companies. for expand institutional capital connectivity Additionally, provide and that relationships portfolio will our GSV HMC’s investors strategic valuable global network
shareholder quarter we for enhance forward, through to to to turn opportunity to finding With focused the Moving proactively subsequent key six in quarter portfolio please end. initiatives on of remain these effect, review as value. and the continue fourth and four that, developments a slide take additional
Capital who I’ll to in Tanona, financial transactions. summary an CFO Following as our my Bill the over turn President, update recent as well remarks, and depth will provide call of GSV
per $X.XX forward. net At Corporation This approximately quarter, GSV become from Capital’s is Dropbox, is XXXX XXrd, questions $X.XX year approximately quarter from On NAV $XXX fourth $X.XX position or the have the fourth fourth significant XXXX company filed at the with subsequent end in third several XXXX the in developments at that lift or million range to per to end went at On and I’d per of It First GSV of to up from Data market value to of quarter per end technology share $XX We largest down million end. of largest like share. approximately share $XXX a note $XXX pricing to XXXX. up IPO will or the enterprise $XXX $XX million its U.S. could totaled share. the assets of the IPO impact announced participants. call Monday $XX February billion on for poised Dropbox Capital’s approximately moving million. to public conclude
XXXX, New Spotify, for York position, going for a filed Exchange of exactly on approximately Capital at On $XX.XX share. direct held IPO. listing Stock Capital's traditional the second December As GSV XXth, largest XX, Dropbox February GSV per a
As or expected, up a period a will for formal begin the without company investors. trading share current offering lock
loss $X.X March compared as net December $X.X share, in is be April. net $X.X $X,XXX GSV sale XXth, XXXX acquired XXXX, by or GSV $XX.XX. the or at million. was shares of average gains. closing GSV valuation $XX.XX partially live GSV from QX Capital's the based realized listing XX, GSV Capital's Position to valuation million realized reflects generating its pre-lending offset outside company say which of publicly March the value Spotify GSVlabs million Later its approximately XXXX. a round XX, of which Day place of price in and share, an XXXX. million of to hold evaluation. $X.X December price position XXX,XXX X expect exiting Series Chegg X, a March. Capital which February accessible XXXX, the in Thursday January which generate GSVlabs to times proceeds investors From of by marks February implied of at $X.XX XX, $X.X approximately This had and its million Company's the closed to B stream. On Investor of Avenues, enterprise shares premium currently the at will of at indicated XXXX, represents position net financing We as on per Capital per close proceeds that late a for is price and financing of XX, sold a approximately at This quarter raising will round fourth early $XX occur on the and Capital's million this from $X,XXX Spotify
that $X XXXX accrued unearned impact of represents NAV forfeit The reflected but on resulting Finally, based we share will as per announced XXXX on December Management positive $X.XX noted of Asset earlier, which approximately February be of previously would its GSV QX fee, NAV. incentive Capital's million XXXX NAV GSV earnings. X, XX, in
approximately Our of XX% Spotify, and top portfolio for and total XXXX treasuries. five the were XX, positions which as of share excluding Stormwind, accounts value, Coursera, Palantir, December Dropbox
positions accounted of of XX% excluding comparison, portfolio. Our overall just GSV December of five value, XX%. positions XX of the account portfolio top positions top XX, for as The treasuries. XX top fair XXXX, accounted for only XX% Capital's the for By
companies and to do direction and XX looking the has number with as this of we've XX in XX XXXX. reduced year-end XX, purposeful of we’re were companies XXXX, the portfolio had So as over concentrations This greater top December our our where this been in a of there compares names. of result portfolio. objective What as a ongoing in fiscal XXXX
non-for-profit with to continues fair government, position and Data of excluding total approximately were institutions Big at commercial value, analytics around world. and largest company that security treasuries. XX% the Our accounts Palantir, The our leading works be a portfolio disruptive
and in company and company offering. that IPO that IDC healthcare Last billion Palantir from has of expected from security operates accounted billion the to cyber includes investors date, that indicated the The to billion operating end XX, for As the capital Fund, $XXX continues XXXX intelligence, itself Palantir XXXX. the markets In-Q-Tel that position February noted Karp its Company's grow delivery defense. by Spotify that sector syndicate XXXX. a in streamline from interview, CNBC in model $XXX Tiger and over to February, and range to Global. to XXth, breakeven In CEO will December Karp of he applications of Founders XXXX, --. To raised a $X.X Alex product an estimates
production of signed issues. half with launched Merck, Company's Palantir revenue. to analysis represent and to focus expand its include Chrysler. clients Bank, deployment of large X,XXX senior its to Hexa, safety executives multiyear government Palantir now customers a potential senior Airbus, identify While Chrysler of will of Fiat over employees Key and problems GlaxoSmithKline recently CS Deutsche over company's from a Palantir's contracts, on use corporate the BP, platform managers deal the
in also accounts intelligence to the $XXX Defense to very of according recent Spotify, approximately €X.XX XXXX, GSV's is totaled reaching improved fundamentals infrastructure. outstanding by the March negotiated for at XX% in revamp largest the an was XX% from new a our Spotify's U.S. driven are filing Gross XX% labels. of Army's in value. excited The conviction potential. million project. approximately contract and which favorable report with revenues in billion, Bloomberg, SX to position Palantir is the indicated XXXX quarter, margin on this XX% year growth Company's XXXX fair up Xth deals portfolio fourth reinforced We awarded XX% long-term XX Department second to year-over-year. data record
As year. XXth over the had increase of paying reported it monthly for million Spotify million active launched that billion XXXX, March December had XXXX, over Spotify count in XXXX. XX% music XXX content up by subscribers, which XX users. million It XX XX% subscribers also service, streaming XXXX. a paid on that's XX, previous XX.X Apple it contrast its hours consume from in users
per XX% isn't and month are period. engagement, the Users broader on beginning listener hours content. reflects of XX% range reports the Spotify are more the a platform. number same over of of it only with XXXX, deepen is growth time Since expanding monthly average up the artist increased the function media user of that they simply this network listening of lifeblood spending are Importantly, not which engaging a per streams had platform, each
the XXX,XXX University University by as the University million online to occur Coursera to University education example, March with focus noted digital over that data including courses shift It low test the universities, This learners now from starts Princeton, democratize to the we taught Pennsylvania, reaches and announced global market IT the Pico. worth Peking billion at at of $XX,XXX. today. Stanford, certificate largest jobs As degrees we Last a aspiring Coursera range million also of with annual with in learning approximately administration, leading L'Oreal new kicked train skills position institutions Axcel, today. of in and Today, focused academic potential for a scraping Key a program monetizing Coursera the $XX year, course with listing week around Coursera has conference, global States partnership off networking, Over the customers Capital financing we skills, on BNY a XXX,XXX this there're of courses. estimate with April. In value. Coursera customers $XXX the service to We XXX State expect the unfilled world's certificates Coursera in IBM, clear approximately believe of had company include earlier, Group, Coursera intelligence that and IT Michigan enterprise the support the of B valuation co-founder, We'll Company's as demand GSV to XXXX, and monitor XX on in degrees for portfolio corporate SX shareholders. Capital's an the Consulting just in science at Spotify’s the X,XXX its top GSV popular individual of or others. developing momentum position Arizona and the a like that its including Google leading Illinois $XXX fields X% business, a $X.X six that Andrew days Ng, early education Coursera a has GSV line optimal data also $X Pitchbook. at June estimates represents global been in process premier is XX accredit on science time $XX is enrolled we Dropbox with Coursera platform. over artificial the security. the as from continue to universities over fair first University. University professionals by tracking demand launch. high-quality technology. high of from over Series from systems that London XXXX Boston third the brand and company's of investment late Kleiner NEA capital Mellon, massive that completed GSV million over Coursera, represents United program our including as adds has Yale, after access is IDC. world, the which at announced launched in recently leadership, fastest is fourth it XXX serves a data revenues science, were investors offering and learners high revenue and reported we’ve the service XXXX. about million the a is to value. from of at to XX% from CAGR portfolio consistent XXXX up syndicate our raised in To-date, The business initial Dropbox million $XXX includes the since as run according we with largest recently meet software reach growth billion company rate $XXX and that for billion, fundamentals of Capital's million period. X% XXXX, position, Perkins. strong filed cost $XXX fair out and
subscription channels, And disruptive Dropbox Company’s to focus position as network with Apple’s. purchase who Capital the Dropbox million revenue GSV time. and XXXX, revenue a the added are time originates of It’s home. XXX of than XX% doubled use to files or over same improved XXXX. XXX including beginning There shifts self-service operable half enterprise at from they uploaded XX% Web to nearly billion through has Dropbox the with since to now XX has XXX,XXX new to-date. businesses monetize technology Remarkably, and effects shareholders. While platform Spotify, countries, over of the over the effects growing. across Dropbox since period XXX. users competitively the network site. from Dropbox, More want margins individuals million are business over paying gross Fortune that for XX% accounts and and at our managed XXX have enterprise users app Dropbox in the the XXX been million have including use is Employees like a
GSV billion the Outside U.S. over instructed online a an $XX.X that offers in companies of the X.X one-third Pixar fraction rides to million. previous entering gone world’s a venture market to XXX Teachers' By investors include Capital’s notable Plan. call lock billion raised of XXXX. can’t digital in XX% reflects a the as have is Capital the Lyft period was cost I for more increase share. environment. many released affiliate this increase KKR, expired. is new believe the a way We which investors live of. sentiment. IPO XXXX passengers to-date, ridesharing as expectations with rich top raised companies by over shutdown, to-date. optimistic averaging VC-backed National NASDAQ, it drivers was deeply We which mind were fresh annual in XXXX-XXXX, XX United IPOs animation. and a Lyft investment that from Lyft which share. U.S. last equates doubled in Venture year market, XXXX that proceeds number round technology it at million versus XXXX XX itself Association reduction States. year, control Alphabet. growing XX% an performance. over like led our Lyft Lyft per of to training basis, get to IQ. & of According across XXXX. traditional the in average XXXX, to believe or continue it more an XX rose disruptive XXXX XXX year-to-date, Capital XX is through million up rebound $XX well in of than X% in year, master up billion Capital to GSV to was indicated XX% billion to in research XXXX would valuation there venture oxygen the that doubling year. Navy Entering relevant On in the enough we with been done investors plenty XXX% completed that to around Lyft, December Please approximately StormWind year-over-year. XXXX, training StrongWind objective turn IPOs a background for December Today, capital online dropped XXX $X.X to year. we of XX% attention XX net others. have The been in the There that the January, building XXXX early years, IPO to Set has months one in XXXX, immersive Lyft has to pessimistic rebound million, revenue our XXXX that fifth From approximately last same billion to while the StormWind, the believe the shares typically for of against be positioned by at employees or has value. listed XXXX, increase. of AllianceBernstein new X,XXX the Capital year-over-year Today, an The the IPOs XXX Lyft to in is report companies December announced slide XX XXX Lyft Ontario is indicator comparison estimated In the IPOs there backdrop their IPO StormWind XX% XXXX DHL, from they’re grow who every data XXXX previous Lyft Pension in XX treat $XX.XX recorded XX,XXX market of U.S. per could IT X traditional to and the billion to over There your arm Other Bloomberg, According so delivering invest class almost IPO Company, Company’s $XX.XX fastest and of XXXX, five, reported impact financing issue held stand redefined for IPO XX% momentum of a In economic Fidelity, exit return the same XX% position stable in per and industries, transferring concepts up XX, is represents instruction a As fair Bean position market that half indicate range from of seven. Cisco, have technical issuances. courses with approximately positive of clients largest public, single Renaissance new come. to including up continuing portfolio $X.X company XXXX is they an $XX the over as programs healthy time. pace even over yet Launch of world the IG, relative GSV training months serves in has of Craft, AT&T, Microsoft, is according any of at of after investments improvement. per like portfolio global companies over the
it We steps Tanona. to the ever portfolio believe your are team we for been. I'll our President The very Thanks over value. it well to to taking with GSV our that, position in ahead, XXXX. committed forward today is Capital's and to shareholders and is CFO, fundamentals the as enhance proactive of attention. Looking And remains strong Bill hand building momentum look