XML 30 R19.htm IDEA: XBRL DOCUMENT v3.26.1
Note 12 - Growth Equity Fund
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Variable Interest Entity Disclosure [Text Block]

12. Growth Equity Fund

 

On February 28, 2024, the Company and Lumens Capital Partners Ltd. (“LCP”) established A3V JV Co. (the “Venture”), with each owning an equal share of the Venture. In addition, the Company entered into a separate agreement with LCP to form A3 Ventures Fund 1, L.P. (the “Fund”), a Cayman Islands-exempted limited partnership, aimed at investing in companies in the growth equity phase and mature cashflow generating businesses with strong growth potential.

 

The Venture wholly owns A3V GP Co., which serves as the general partner of the Fund. As a limited partner, the Company committed to contribute $50.0 million to the Fund, to be called as needed, for portfolio investments, fees, and expenses of the Fund. The Company also participates in Fund establishment costs and an annual management fee equal to 2.0% of the total commitment. Any future repayment obligations will be triggered upon the receipt by LCP of profit allocations related to the Fund.

 

In September 2025, the Company decided to discontinue its participation in the Fund.

 

As of  March 31, 2026, no portion of the Company’s $50.0 million commitment has been called or was callable.

 

As of  March 31, 2026 and December 31, 2025, an estimated payable of $1.6 million and $1.6 million, respectively, were included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.