Company: INV
Filing Date: 2025-04-23
Form Type: 424B3
Source: 0001628280-25-019358
Chunk: 175

Company: Innventure, Inc.
Filing Date: 2025-04-23
Form: 424B3
Chunk 175
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 Predecessor |
|                                                                                                                    | December 31,2024 |     | December 31,2023 |
| Equity-method investments......................................................................................    |          $17,547 |     |           $4,482 |
| Exchange-traded investments at fair value...............................................................           |                — |     |            9,685 |
| Investment in debt securities - AFS..........................................................................      |           11,187 |     |                — |
| Total Investments................................................................................................. |          $28,734 |     |          $14,167 |

F-19 Innventure, Inc. and Subsidiaries Notes to Consolidated Financial Statements (in thousands, except share or per share data)

Equity-method investments ESG Fund During the Predecessor period, the Company’s equity-method investment in the ESG Fund reflects the Company’s general partner interest which represents approximately 5% of the ESG Fund’s total capital commitments and limited partner interests which were received in exchange for shares of Innventure LLC and Accelsius Holdings LLC prior to October 1, 2024. As of December 31, 2024, the Company’s equity-method investment in the ESG Fund solely reflects interests held by the Company as a limited partner due to the deconsolidation of certain SILOs as further discussed in Note 8. The Predecessor period general partner interest is not consolidated because the ESG Fund is not considered a VIE and the Company does not hold a controlling financial interest in the ESG Fund under the VOE model. The ESG Fund is an investment company that follows a specialized basis of accounting established by GAAP. The Company’s partnership interests in the ESG Fund are substantially illiquid. While the ESG Fund’s holdings are accounted for at fair value, the equity-method investment in the ESG Fund is adjusted to reflect the fair value of the underlying investments of the ESG Fund as of December 31, 2024 and 2023 . The fair value of the underlying investments in the ESG Fund is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments. AeroFlexx The Company determined that AeroFlexx has insufficient equity at risk to fund its operations, as of December 31, 2024 and therefore will meet the definition of a V