Brightspark's Valuation Policy

By following this policy, we will hopefully be able to retain the degree of objectivity required to report meaningful results to our investors, while recognizing that our reported portfolio valuations may not reflect the most current market realities.

Valuations of each portfolio company are reported based on the most recent financing transaction completed by the company. Unless the most recent financing transaction is a significant third party financing, this valuation is at cost. Where there is strong evidence of a long-term impairment in the value of an investment prior to the year-end audit, an estimated write-down is taken.

As part of the annual year-end process, Brightspark reviews the company valuations and determines whether any investments should be written down from their most recent financing levels. No write-ups in valuation of a portfolio company are made without the external validation of a significant third party financing, unless stated otherwise by auditors.

If a company is sold or closed down at any time, the company valuation is written to its cash value at that time (in the case of a close down) or to the value of the consideration received (in a sale). 

Brightspark’s policies are in compliance with the valuation policies and guidelines currently published by the International Private Equity and Venture Capital (IPEV).

If you have any questions about Brightspark’s valuation policy, please reach out to our Investor Relations team at