Ask Capiva

Portfolio

Incubayt Investments Ltd · All investments · marks as of 8 Sep 2025 · 21 holdings · 9 fund interests
Open IRR workbook
Co-investor reportingIncubayt holds each fund's LP interest in its own name and passes calls on to the co-investors who hold economic shares of it under an economic interest agreement (EIA). Capiva prepares each co-investor's statement from the Fund Breakdown sheet and the GP notices; you review it before anything is sent.10 co-investors hold economic interests through Incubayt in these funds · statements are prepared from the Fund Breakdown sheet and the GP notices

Portfolio companies

21 holdings at the workbook's marks · 3 in the data room without a cost record
Active holdings14at the workbook's marks
Portfolio status
14 active · 3 exited · 3 written off or at zero
Runway watch1under 9 months · runway known for 1 holding
Reporting12no document in the last 12 months · 2 current
Follow-ons4holdings with a follow-on ticket
CompanyIndustryStageLocationInvestedCurrent markMOICOwn %HealthΔ quarterTop priority
BBarakaDirect FinTech—UAE$50.0k2 tickets$96.2k8.33x0.1% ● On track — Nothing open Explore
SCSauce CapitalDirect FoodTech—UAE$54.5k$301k5.53x0.5% ● On track — Nothing open Explore
TWThe Waste LabDirect AgTechBridge seed (SAFE)UAE$200k+ $400k advisory$960k4.80x12.0% ● Watch — The Waste Lab: workbook dates and cost basis differ from the deal documents Explore
IImagryDirect AI—Israel / USA$50.0k$200k4.00x0.2% ● Watch — Imagry: entry date and valuation differ between sources Explore
WWisewellIncubated Consumer hardware (water)Convertible note 2023UAE / USA$1.75mm2 tickets$6.80mm3.89x42.5% ● Watch — Wisewell owes Incubayt a USD 286k shareholder loan that the IRR workbook does not carry Explore
HHHomecare HubDirect HealthTech—Canada$35.0k$105k3.00x0.5% ● On track — Nothing open Explore
MMaypleDirect Retail marketplace—UAE$35.0k$91.0k realised2.60x— ● Exited — Mayple and Lava.ai amounts are swapped in the Aug 2024 tracker Explore
BSButterfly SocialIncubated LifestyleSAFE 2025UAE$138k2 tickets$274k1.99x2.3% ● Watch — Butterfly Social: Incubayt's $40,000 SAFE is still 'Pending' and in Sami Khoreibi's name Explore
PProMedExDirect ———$50.0k$70.4k realised1.41x— ● Exited — ProMedEx: workbook entry date and multiple differ from the documents Explore
LALava.aiDirect AI—USA$25.0k$31.9k1.27x0.0% ● On track — Nothing open Explore
CUCapital Union BankDirect Banking—Bahamas / UAE$250k$250k1.00x0.2% ● Early — Capital Union Bank: SPA corrected from 750,000 to 75,000 shares Explore
CClaraDirect LegalTech—UAE$12.5k$12.5k1.00x0.2% ● Early — Clara: three different entry dates Explore
QAQadi AIDirect LegalTech—UAE$200k+ $420k advisory$200k1.00x2.4% ● Watch — Qadi AI: $50,000 of the $200,000 SAFE is still to be paid Explore
PPlannoDirect CleanTech—UAE$100k+ $250k advisory$100k1.00x2.0% ● Early — Planno: $250,000 of advisory shares is counted as invested cost Explore
AEAmp EnergyDirect CleanTech—UAE$50.0k$50.0k1.00x1.0% ● Watch — AMP SAFE date differs from the IRR workbook Explore
BBundleDirect FinTech—UK$50.0k$50.0k1.00x0.5% ● Watch — Bundle SAFE is in Sami Khoureibi's name, not Incubayt's Explore
SWSentia WellnessDirect Wellness—USA$125k$19.9k realised0.16x— ● Exited — Sentia second distribution ($5,148.70 for Incubayt) is not in the IRR workbook Explore
PPawameDirect CleanTech—Kenya$25.0k$00.00x— ● At risk — Nothing open Explore
HBhatch & boostDirect Venture building—UAE$478k$00.00x— ● At risk — hatch & boost: workbook writes the $477,500 off in Oct 2021 Explore
PPipeDirect FinTech—USA$50.0k$00.00x— ● At risk — Nothing open Explore
KUKitchen UnitedDirect FoodTech—USA$35.0k$00.00x— ● Watch — Nothing open Explore
In the data room, not in the IRR workbook

Positions without a cost record

Duplay
Sports & leisure · UAENot in workbook
Project LIION
Energy storageNot in workbook
Orbital Holding Ltd
Holding company · UAENot in workbook

Fund interests

9 LP interests · Incubayt is the legal LP · 10 co-investors hold economic shares through it
FundLP interest (legal)Incubayt commitmentCalledUncalledDistributedCapital accountTop priority
VEVista Equity Partners Fund VIII-AVista Equity Partners · 2022 · 2 co-investors$1.00mm$333k33% economic$201k60% called$132k$0GP statement Sep 2022−$1.4k · Sep 2022capital account, GP statementVISTA: 1 of 5 calls have no valid date (call 5)
PVPowerPlant Ventures Fund IIIPowerPlant Ventures · 2021 · 3 co-investors$1.00mm$250k25% economic$144k57% called$106knone on fileno statementNo NAV in the data roomNothing open
PVParkway Fund 2 QP LPParkway Venture Capital · 2022$150k$150k$150k100% called$0none on fileno statementNo NAV in the data roomNothing open
LLaunch Fund 4Launch · 2023$150k$150k$113k75% called$37.5knone on fileno statementNo NAV in the data roomLAUNCH: 1 of 3 calls have no valid date (call 2)
BVBITKRAFT Ventures Fund IIBITKRAFT Ventures · 2021 · 7 co-investors$1.00mm$150k15% economic$122k82% called$27.8knone on fileno statementNo NAV in the data roomBitkraft: call 2 is headed 10.0% but all investors were charged 6.5% of commitment
TSTwo Small Fish Ventures Fund IIITwo Small Fish Ventures · 2022$100k$100k$55.6k56% called$44.4knone on fileno statementNo NAV in the data roomTWO SMALL FISH: 4 of 11 calls have no valid date (call 6, 9, 10, 11)
POPage One VenturesPage One Ventures · 2022$100k$100k$85.0k85% called$15.0knone on fileno statementNo NAV in the data roomPAGE ONE: 5 of 5 calls have no valid date (call 1, 2, 3, 4, 5)
BVBITKRAFT Ventures Token Fund IIBITKRAFT Ventures · 2022 · 4 co-investors$525k$100k19% economic$65.0k65% called$35.0knone on fileno statementNo NAV in the data roomFund shows $26,250 under-paid before the 10th call
BBIV Fund IBIV · 2021$50.0k$50.0k$47.5k95% called$2.5knone on fileno statementNo NAV in the data roomBIV FUND: 1 of 5 calls have no valid date (call 5)
Total$4.08mm$1.38mm$983k$400knone on file