Dear blq family,

During the third quarter of the year many countries had eased their covid-19 restrictions. For the ecosystem of startups and scaleups this led to a higher business activity. Many of our portfolio companies’ customers are comfortable making business decisions with a long-term effect, such as investing in business-critical SaaS products.

We are pleased to see that our blq box approach with our companies is creating positive output and all three companies are as expected in a growth phase.

Our pipeline is strong, and we are confident that we will by the end of the year have several tangible investment opportunities in front of us. Alongside our work with the portfolio companies and our pipeline during this quarter, we have also done the final closing of blq 1. This work has now led to that we have final commitments at 200 000 000 SEK.

At the end of the third quarter signs of increased infection levels in various countries appeared, which has led to once again necessary increased restrictions. Whether it will be at the same levels as we have seen in the spring and summer, it is still too early to say. For blq and our portfolio companies, we listen carefully to what the market is saying, and for now it is clear that our digital business critical offerings are here to stay.

Kamjar Hajabdolahi Founding partner

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