Dear Friends and A&D Family,
2012 was a year of good fortune for us and our investee companies. In March, Nasdaq listed Trinity Biotech assumed responsibility for the next phase of Fiomi’s development and we quickly deployed the proceeds in new and exciting ventures. During the year, we invested in Proactive Health Partner, Phoniro and Gardio. Our total of six investee companies today have close to 100 co-workers who are faced with very different challenges in their day-to-day deed. Yet, our investee companies have some distinct features in common:
Our companies are early adopters of new technology: Phoniro has probably the biggest installed base globally of locks that can be opened using a mobile phone. Calmark took steps to introduce a completely new way of performing in-vitro diagnostics, using only a disposable and a smartphone. At the end of the day, only technology will give real economic development. We believe that new technology creates opportunities to challenge traditional business models. Significant business opportunities exist for entrepreneurial companies with curious minds and a willingness to adapt.
Our companies are not afraid of risk taking: Trustly continued to invest nearly all its time and capital into creating the most secure and customer friendly payment system in Europe. Proactive put all its efforts into developing a tool that will help companies enable their employees to perform in a much more sustainable way. We believe very strongly that without risk there is no reward. We spend great time and effort on making sure that we take the right risks. We try to impact our outcomes by exercising discipline in the execution of our business models.
Our companies take and retain the initiative: Gardio launched the first social home alarm system. hemCheck pushed the button to initiate production of gadgets that will give health care systems effective blood sampling, globally. Opportunities never come to those who wait. We believe that only by taking the initiative can we earn the trust of customers, employees and co-investors. We believe that by taking the initiative we will maximise our chances of success.
And as Lloyd S. Shapley held his Nobel Prize lecture on dating and the rewards that go along with taking the initiative, little did he know, or care :), that the core software engine of Phoniro actually came to life as a date matching service in Singapore, many years ago…
Turning to 2013, we will continue to be open for new investment opportunities but our focus will be on creating value in the companies where we’ve invested time and capital.
Thanks for reading this. Thanks for your trust and co-operation. And to our investee companies and their co-workers: Thanks for your very hard work. You are very valuable to us.
This holiday period, we’ve chosen to contribute to Lilla barnets fond, a charity supporting research on newborn infants, and Situation Stockholm, a magazine sold by the homeless in Stockholm.
We wish you happy, peaceful holidays and a very successful, engaging and fun 2013.
Sincerely, Måns and Hjalmar
