Greetings John,

VinaCapital’s alternative investment teams were very busy in the second quarter of 2023, with several deals as well as helping our existing portfolio companies reach new growth levels. The government continued to cut interest rates to boost economic growth, which benefits the real estate sector, and approved the Power Development Plan 8 (PDP8), reigniting excitement for clean energy investors. Importantly, this past quarter, VinaCapital established a joint platform with A.P. Moller Capital to invest in transportation and logistics infrastructure, which we introduce in our Spotlight.