2020 Letters to co-investors

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Letter to our co-investors 4Q20

Dear co-investor, Finally, a very difficult year for everyone has come to an end. I can add little to the encouragement and gratitude for your trust that we have shown you in our previous letters.

2020 Letters to co-investors

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Letter to our co-investors 3Q20

Dear co-investor, We finished another quarter affected, to a greater or lesser extent, by the evolution of the pandemic and the decisions made by our governments. It is difficult to get used to this "new normal” situation, but the Horos family sends you all its encouragement and support for these difficult times.

2020 Letters to co-investors

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Letter to our co-investors 2Q20

Dear co-investor, We finished a quarter marked, once again, by the huge impact that covid-19 has had on our lives. A quarter in which we can at least hope that the worst is over. I would like to give everyone who has been affected much encouragement and, of course, thank all of our investors for their trust and patience in this challenging environment.

2020 Letters to co-investors

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Letter to our co-investors 1Q20

Dear co-investor, We finished what has been one of the most challenging quarters we have ever experienced, both professionally and, of course, personally. Therefore, I would like to start by thanking you for your great trust in our work and wishing you all the best in these tough times.

2019 Letters to co-investors

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Letter to our co-investors 4Q19

Dear co-investor, We end a year that has been marked, as you know, by (very) high volatility in equity markets, caused by global political and economic uncertainties. As we have stressed in previous letters, this environment has led investors to seek out companies with more