catamaran ventures portfolio stocks

Catamaran - Single Family Office

PE & VC firm focused on multiple sectors

• Request page removal

Catamaran Key Fund Metrics

Catamaran portfolio.

• 40+ portfolio companies
• 5 portfolio unicorns
• 15+ portfolio exits
• 100+ co-investors

Co-investors of Catamaran

Over the past 14 years , 618 investors have co-invested in Catamaran's portfolio companies. This includes funds and angels.

• Invested before Catamaran : Sequoia Capital , Accel and 126 others have invested in rounds before Catamaran . There are 4 companies where Sequoia Capital has invested before Catamaran and 2 companies where Accel has invested before Catamaran .
• Top Co-investors of Catamaran : 103 investors entered a company along with Catamaran . These include investors like Accel ( 3 companies ).
• Invested after Catamaran : A total of 387 investors have invested in Catamaran's portfolio after their investments. Top Investors include IFC ( 3 companies ) and Subba Telidevara ( 2 companies ) .

Catamaran Team

Catamaran news, recently updated single family office profiles.

• Ajanta investor profile
• Premji Invest investor profile
• Rettig Group investor profile
• The Durst Organization investor profile
• TDJ investor profile

• PRO Exclusives
• Free Newsletter

Catamaran's Padaki on the family office's take on LP bets, friction around exits and more

By Priyal Mahtta

• 24 May 2024

With assets under management valued at over a billion dollars, Infosys co-founder NR Narayana Murthy’s family office, Catamaran Ventures, invests across asset classes including public equity, fixed income and private equity. Led by president Deepak Padaki, the family office has its portfolio roughly divided into thirds across the asset classes. However, within ......

This is a Premium article. Please subscribe or log in to read the full story!

Here's a selection of our recent premium content .

Tanmiya Capital Ventures taps financial institution for second fund

Bank of Singapore sees Middle East accounting for a fifth of assets over 3 to 5 years

SoftBank-backed Swiggy looking at $15 bn valuation for upcoming IPO

Amazon Smbhav Venture doubles up on NBFC platform axio

ADM Capital's Sabita Prakash on the Smart City initiative, focus on ESG and more

Ares Asia sets eyes on full exit with robust returns from India bet

Google News

Follow VCCircle on Google News for the latest updates on Business and Startup News

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.

Our Portfolio

Catalyzing disruptive business ideas from passionate entrepreneurs.

LATE STAGE | GROWTH CAPITAL

Established in 2002, SpaceX stands as a preeminent global force in the innovation, design and manufacturing of cutting-edge rockets and spacecraft. Beyond its pioneering space endeavours, the company extends its influence through Starlink — a constellation of low-orbit satellites facilitating advanced communication services, notably internet connectivity.

Port, by Numberless

Early stage | venture capital.

Port, a revolutionary messaging app, introduces a novel approach to communication tools by reinstating boundaries on accessibility. Unlike conventional methods that rely on permanent identifiers such as numbers, Port employs impermanent virtual ports. This innovative feature empowers users to dynamically control and toggle access to themselves based on their preferences and needs.

CO-FOUNDERS

port.numberless.tech

Log9 Materials

Log9, a prominent cellular innovation company headquartered in Bangalore, is at the forefront of advancements in lithium-ion battery technology. Specializing in the development of battery cells optimized for tropical climates, such as those prevalent in India, Log9 has pioneered a breakthrough. In a significant milestone, the company launched India’s inaugural and fully integrated lithium cell manufacturing facility in Bangalore, reaffirming its commitment to driving technological excellence in the energy storage sector.

www.log9materials.com

VerSe Innovation

Growth stage | venture capital.

VerSe, a distinguished local-language tech platform, serves as the parent company for two major entities—Dailyhunt and Josh. Dailyhunt, the largest content aggregator platform in India, operates across a diverse spectrum of 15 languages, catering to a wide audience. On the other front, Josh, the rapidly expanding short-video app, stands as India’s fastest-growing platform, boasting an impressive community of over 50 million creators who actively engage with its dynamic content.

VENTURE CAPITAL

Loco is revolutionizing the gaming landscape in India by leveraging the power of streaming to unite and fortify its colossal 400 million-strong gaming community. This innovative platform not only facilitates seamless connectivity but also provides a dynamic space for top players and passionate enthusiasts to engage in exhilarating gameplay, interactive chat sessions and a plethora of enticing rewards.

www.loco.gg

Reddit serves as a network of communities, each dedicated to specific topics or subreddits, spanning news, sports, pop culture and more. Users connect with like-minded individuals through links, text posts, images, or videos within these subreddits. The unique feature of voting up or down allows community members to collectively elevate the most valuable content, creating a dynamic and user-driven platform.

Alexis Ohanian

www.reddit.com

National Stock Exchange

Private equity.

Established in 1992, the National Stock Exchange (NSE) stands as the preeminent stock exchange in India. Renowned as the world’s largest derivative exchange by volume and the fourth-largest in cash equities by volume, NSE has consistently maintained a leading position in the financial world. NSE’s commitment to technological advancements is evident through strategic investments, fostering a culture of innovation that underpins the exchange’s unwavering focus on reliability and performance.

www.nseindia.com

Marcellus, a Mumbai-based portfolio management services (PMS) company, was founded in 2018 by a team of seasoned investment professionals. Within just two years of its inception, Marcellus has ascended to become the fifth-largest PMS provider in India. This remarkable achievement underscores the company’s commitment to excellence and its ability to quickly establish a prominent position in the competitive financial landscape.

marcellus.in

LATE STAGE | PRIVATE EQUITY

Udemy stands as the foremost global marketplace dedicated to the facilitation of teaching and learning, acting as a dynamic bridge that unites millions of students and professionals with the essential skills required for success. At the heart of this thriving ecosystem are Udemy instructors, individuals driven by a profound passion for imparting knowledge and assisting students on their educational journey.

www.udemy.com

Established in 2016, Acko stands as the nation’s premier and most rapidly expanding digital-first insurance policy provider. Its commitment to a direct-to-consumer approach redefines the distribution of traditional insurance products. The brand’s tech-driven ethos extends beyond its operational framework, as the company leverages cutting-edge technology to seamlessly integrate with emerging businesses. This integration allows Acko to introduce novel, bite-sized insurance products that cater to the evolving needs of the modern consumer.

www.acko.com

Hector Beverages

Hector Beverages, the visionary behind Paper Boat, stands as a trailblazer in India’s ethnic beverage landscape. Recognizing the untapped potential in 2010, Catamaran seized the opportunity when the founders of Hector Beverages articulated a compelling concept – preserving India’s rich tapestry of ethnic flavors and recipes through innovative beverages.

www.paperboatdrinks.com

Innoviti, India’s second-largest third-party payment processor, leads the charge in revolutionizing merchant transactions at the point of sale. With cutting-edge payment infrastructure and solutions, Innoviti empowers merchants to boost sales. Rapidly scaling, the company processes around $3.5 billion yearly across 1,000+ cities in India, reaffirming its pivotal role in shaping the country’s payment landscape.

www.innoviti.com

Aequs is a leading diversified contract manufacturer that specializes in simplifying complex manufacturing processes for global businesses. With a unique manufacturing ecosystem, Aequs offers vertically integrated solutions across various industries, including aerospace, electronics and consumer goods. Their streamlined supply chain ensures efficiency for customers worldwide, making them a trusted partner for Fortune 500 companies. With over 4,000 employees and facilities spanning three continents — India, France and the United States — Aequs is well-positioned to deliver high-quality manufacturing solutions on a global scale.

www.aequs.com

Vedantu Innovations

ACE Creative Learning, conceived by Dr. Sridhar and his wife, Lalit Sridhar, emerges as a visionary educational venture committed to providing a comprehensive and enriching learning experience for students. The essence of ACE Creative Learning lies in its dedication to fostering the success of every child, harmonizing academic rigor with a nurturing and caring environment across its network of Deeksha schools. Through this holistic approach, the company seeks to not only educate but also inspire and empower each student on their educational journey.

www.deekshalearning.com

GROWTH CAPITAL

Udaan stands as a pivotal B2B trade platform, strategically tailored for the needs of small and medium businesses in India. It not only provides real-time insights into prevailing market trends but also empowers businesses with cutting-edge technology, enabling them to scale and nurture their operations efficiently.

www.udaan.com

STRATEGIC PARTNERSHIP

Founded in 2016 by Catamaran, Aon India Insurance Brokers Pvt. Ltd (formerly Anviti) quickly rose to prominence in the Indian insurance market. With Catamaran’s active involvement, Anviti served 1,800+ clients, placing premiums over ₹3,500 Cr. The Catamaran team played a crucial role in leadership recruitment and enabled Anviti’s rapid growth to 300+ employees across eight locations. In 2021, Aon recognized Anviti’s value, acquiring the company and solidifying its position in the industry.

www.aon.com/apac/india

Prione, a strategic alliance between Catamaran and Amazon, empowered SMEs with the essential tools and training to excel in the online marketplace. From product photography to managing digital sales and accounts, Prione facilitated every step of their e-commerce journey. Cloudtail, Prione’s 100% subsidiary, emerged as a prominent online retailer connecting SMEs to customers, offering easy access to a vast array of brands. With a workforce of over 500, Cloudtail successfully sold over 1 million products spanning 25+ categories, collaborating with more than 5,000 brands.

www.prione.in

Manipal Education

Leveraging its extensive expertise in owning and managing top-tier institutions, Manipal Global Education Services provides a comprehensive array of tested and proven education services. These offerings empower universities and educational institutions worldwide to concentrate on their core competencies, assured of reliable support and solutions from Manipal Global Education Services.

www.manipalglobal.com

Threadsol, an enterprise SaaS company catering to the apparel industry, positioned itself as a transformative force. The software provided a critical solution by optimizing one of the industry’s major cost components—fabric. By facilitating precise fabric buying and cutting, Threadsol minimize wastage, thereby unlocking substantial cost savings for apparel businesses. In a strategic move, Catamaran demonstrated confidence in Threadsol’s vision by participating in their Series A funding round in 2016, cementing a partnership that aimed to drive innovation and efficiency in the apparel industry.

www.threadsol.com

Priority Vendor

Priority Vendor’s platform created a unique income stream for buyers and brands, offering discounts for early supplier payments. With over 70 customers in India and expansion into Bangladesh, Dubai and Vietnam, it served industry leaders like Jubilant Foods, TVS, Godrej Consumer, Apollo Tyres, Britannia, Dabur, Marico and Titan. In 2019, the platform was acquired by US-based fintech firm C2FO, aligning with their India growth strategy.

www.priorityvendor.com

Catamaran, 51/52 1st Main Road, 3rd Phase J P Nagar, Bengaluru, Karnataka 560 078, India.

© 2024 – Catamaran – All rights reserved

English (USA)

English (UK)

English (Canada)

English (India)

Deutsch (Deutschland)

Deutsch (Österreich)

Deutsch (Schweiz)

Français (France)

Français (Suisse)

Nederlands (Nederland)

Nederlands (België)

• Top Capitalization
• United States
• North America
• Middle East
• Sector Research
• Earnings Calendar
• Equities Analysis
• Most popular
• AMD (ADVANCED MICRO DEVICES)
• NIPPON ACTIVE VALUE FUND PLC
• NVIDIA CORPORATION
• EVERI HOLDINGS INC.
• MICROSOFT CORPORATION
• DEUTSCHE BANK AG
• AMAZON.COM, INC.
• Index Analysis
• Indexes News
• EURO STOXX 50
• Currency Cross Rate
• Currency Converter
• Forex Analysis
• Currencies News
• Precious metals
• Agriculture
• Industrial Metals
• Livestock and Cattle
• CRUDE OIL (WTI)
• CRUDE OIL (BRENT)

• Yield Curve
• Developed Nations
• Emerging Countries
• South America
• Analyst Reco.
• Capital Markets Transactions
• New Contracts
• Profit Warnings
• Appointments
• Press Releases
• Security Transactions
• Earnings reports
• New markets
• New products
• Corporate strategies
• Legal risks
• Share buybacks
• Mergers and acquisitions
• Call Transcripts
• Currency / Forex
• Commodities
• Cryptocurrencies
• Interest Rates
• Asset Management
• Climate and ESG
• Cybersecurity
• Geopolitics
• Central Banks
• Private Equity
• Business Leaders
• All our articles
• Most Read News
• All Analysis
• Satirical Cartoon
• Today's Editorial
• Crypto Recap
• Behind the numbers
• All our investments
• Asia, Pacific
• Virtual Portfolios
• USA Portfolio
• European Portfolio
• Asian Portfolio
• My previous session
• My most visited
• Quality stocks
• Growth stocks
• Trend-Following Stocks
• Quality stocks at a reasonable price
• Wind energy
• Serial buyers
• Cannibal companies
• Unusual volumes
• New Historical Highs
• New Historical Lows
• Top Fundamentals
• Sales growth
• Earnings Growth
• Profitability
• Rankings Valuation
• Enterprise value
• Top Consensus
• Analyst Opinion
• Target price
• Estimates Revisions
• Top ranking ESG
• Environment
• Visibility Ranking
• Stock Screener Home
• Powerful brands
• Biotechnology
• Solar energy
• Israeli innovation
• Pricing Power
• Oversold stocks
• Overbought stocks
• Close to resistance
• Close to support
• Accumulation Phases
• Most volatile stocks
• Top Investor Rating
• Top Trading Rating
• Top Dividends
• Low valuations
• All my stocks
• Stock Screener
• Stock Screener PRO
• Portfolio Creator
• Event Screener
• Dynamic Chart
• Economic Calendar
• Our subscriptions
• Our Stock Picks
• Thematic Investment Lists

Catamaran Corp Stock Nasdaq

Ca1488871023, managed healthcare.

Latest news: Catamaran Corp

Other Managed Healthcare

Company Profile

• Stock Market

The Economic Times daily newspaper is available online now.

Catamaran ventures picks up 1.12% stake in garment maker gokaldas exports.

Gokaldas Exports, one of India’s largest garment manufacturers and exporters, is promoted by Florintree Advisors, a private equity firm run by former Blackstone executive Mathew Cyriac.

Discover the stories of your interest

Cyber-safety

Read More News on

Zepto to Blinkit, the quick commerce race in India is taking many interesting turns

Key challenges that will welcome CS Setty as he takes the corner office at SBI

Infy tossed it out as a wrong ANSR. It’s now helping Accenture make the right move.

EV Wars: Hero, Bajaj, TVS Rev Up, But Hero's Staggering INR 1.71L Loss Per Vehicle Raises Eyebrows

“Nava Raipur will emerge as IT hub; Maoist influence is waning”: Chhattisgarh CM

Did Google fall behind in the AI race because of WFH? Patent filings tell a different story.

Find this comment offensive?

Choose your reason below and click on the Report button. This will alert our moderators to take action

Reason for reporting:

Your Reason has been Reported to the admin.

To post this comment you must

Log In/Connect with:

Fill in your details:

Will be displayed

Will not be displayed

Share this Comment:

Uh-oh this is an exclusive story available for selected readers only..

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

To read full story, subscribe to ET Prime

₹34 per week

Billed annually at ₹2499 ₹1749

Super Saver Sale - Flat 30% Off

On ET Prime Membership

Unlock this story and enjoy all members-only benefits.

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Get 1 Year Free

With 1 and 2-Year ET prime membership

Get Flat 40% Off

Then ₹ 1749 for 1 year

ET Prime at ₹ 49 for 1 month

Freedom Offer

Get flat 20% off on ETPrime

90 Days Prime access worth Rs999 unlocked for you

Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

Stock analysis. Market Research. Industry Trends on 4000+ Stocks

​Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-​

Stories you might be interested in

• Latest News
• NEET PG Result 2024 Live Updates
• Gold Rates Today
• Mutual Funds
• Maharashtra Bandh 2024
• Share Market Live

• Business News
• Infosys’ Narayana Murthy to double Catamaran’s $1 billion investments in next five years
• Loksabha Election
• Budget 2024
• Stock Market Quotes
• Mutual Fund
• Stock Stats
• Top Gainers
• CaFE Invest
• Investing Abroad
• Gold Rate in India
• Silver Rate in India
• Petrol Rate in India
• Diesel Rate in India
• Express Mobility
• Banking & Finance
• Travel & Tourism
• Brand Wagon
• Entertainment
• Web Stories
• Auto Web Stories
• Infographics
• Today’s Paper
• International
• Edits & Columns
• Personal Finance Print
• PRIVACY POLICY
• TERMS AND CONDITIONS
• IPO’s Open and Upcoming 10
• Top Indices Performance
• Stock Analysis
• Stock Market Stats
• Financial Literacy
• Gold Rate Today
• NSE Top Gainers 1222
• NSE Top Losers 1420
• BSE Top Gainers 2558
• BSE Top Losers 2309
• NSE 52-Week High 0
• NSE 52-Week Low 0
• BSE 52-Week High 0
• BSE 52-Week Low 0
• NSE Price Shocker
• NSE Volume Shocker
• BSE Price Shocker
• BSE Volume Shocker
• NSE Sellers
• BSE Sellers
• Silver Rate Today
• Petrol Rate Today
• Diesel Rate Today

• Personal Finance
• Today's Paper
• Partner Content
• Web Stories
• Entertainment
• Social Viral

2 years on, Murthy's VC fund Catamaran tunes its rudder

The rs 600-cr fund wants to become a global-style limited-partnership investor.

More From This Section

HCL shows the door to former Xerox staff

Nasscom to wait for two quarters before looking at guidance

Google introduces Nexus tablet

HCL Info to hive off hardware business into separate unit

HCL Infosystems to launch 3G tablet in August

Analysts' corner

Infosys delays start-dates for new hires as slowdown bites-report

CSE index gains 12 points

Infosys delays start-dates for new hires as slowdown bites

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 20 2012 | 12:06 AM IST

Explore News

• Suzlon Energy Share Price Adani Enterprises Share Price Adani Power Share Price IRFC Share Price Tata Motors Share Price Tata Steel Share Price Yes Bank Share Price Infosys Share Price SBI Share Price Tata Power Share Price
• Latest News Company News Market News India News Politics News Cricket News Personal Finance Technology News World News Industry News Education News Opinion Shows Economy News Lifestyle News Health News
• Today's Paper About Us T&C Privacy Policy Cookie Policy Disclaimer Investor Communication GST registration number List Compliance Contact Us Advertise with Us Sitemap Subscribe Careers BS Apps
• ICC T20 World Cup 2024 Budget 2024 Olympics 2024 Bharatiya Janata Party (BJP)

• Financing options Private Equity & Venture Capital Grants, incubators and accelerators Alternative financing SME debt financing Crowdfunding & P2P
• More PE&VC Associations PE&VC Investment process Crowdfunding primer About Contacts Hall of fame ⭐ Ultimate PE firms guide Ultimate VC firms guide

Catamaran Ventures

Investment Ticket

Investment Horizon

Investment Stage

Exit Strategy

Catamaran invests in venture capital, private equity, public markets and joint ventures with global multinationals. In our venture capital portfolio we are sector and stage agnostic and seek differentiated and financially sound businesses run by competent, committed and trustworthy entrepreneurs. In our public market portfolio we invest in scalable, enduring companies with an impressive record of corporate governance and growth in earnings.

Region of investment

You are using an outdated browser. Please upgrade your browser to improve your experience and security.

• Trending Stocks
• Ola Electric  INE0LXG01040, OLAELEC, 544225
• HUDCO  INE031A01017, HUDCO, 540530
• Suzlon Energy  INE040H01021, SUZLON, 532667
• Mazagon Dock  INE249Z01012, MAZDOCK, 543237
• Hind Zinc  INE267A01025, HINDZINC, 500188
• Mutual Funds
• Commodities
• Futures & Options
• Cryptocurrency
• My Portfolio
• My Watchlist
• FREE Credit Score ₹100 Cash Reward
• Fixed Deposits
• My Messages
• Price Alerts
• Chat with Us
• Download App

Follow us on:

Narayana Murthy’s Catamaran Venture buys 1.12% stake in Gokaldas Exports

Gokaldas exports is one of the largest manufacturer and exporter of apparels in india, with annual turnover of $200 million.

In the past one month, the stock of Gokaldas Exports has surged 11.4 percent as against 1 percent decline of the Sensex benchmark during the same period

Venture capital firm Catamaran Ventures LLP, led by Infosys cofounder NR Narayana Murthy, bought a 1.12 percent stake in apparel manufacturer Gokaldas Exports , revealed the company’s shareholding data by the end of September. Catamaran Ventures owned around 6.7 lakh equity shares in Gokaldas Exports, which is worth over Rs 57 crore (as per October 12 closing price).

On October 12, around 5 lakh shares exchanged hands at both the exchanges, as against 4 lakh shares on a-month average basis.

Follow live blog for all the market action

In the past one month, the stock of Gokaldas Exports has surged 11.4 percent as against 1 percent decline in the Sensex benchmark during the same period. Earlier, the stock had hit 52-week high of Rs 883 per share on August 30, 2023.

Gokaldas Exports is one of the largest manufacturer and exporter of apparels in India, with annual turnover of $200 million. Through its retail subsidiary ‘The Warehouse’ – the company sells garments to the Indian retail market through offline channels.

Related stories

With more than 22 manufacturing facilities, the company is gearing up for further expansion. Some of the company’s key clientele include international brands like GAP, H&M, Adidas, PUMA and ZARA.

Also Read:  A good yarn: Gokaldas Exports’ story of success likely to continue

Catamaran Ventures has made investments across high-growth sectors like e-commerce, technology, financial services, healthcare, and education. Some of their latest investments, as per their company’s website, included SpaceX, Reddit, Loco, Udaan, Paper Boat, among several others.

In the June-ended quarter of fiscal year 2023-24 (Q1FY24), the Gokaldas Exports’ consolidated net profit declined 17.4 percent year-on-year (YoY) to Rs 32.5 crore from Rs 39.4 crore, in the year-ago period due to drop in exports to the US and European nations. The company’s consolidated revenue, too, saw a decline of 15.7 percent YoY to Rs 514 crore in Q1FY24.

That apart, earnings before interest, tax, depreciation, and amortisation (Ebitda) fell 16.7 percent YoY to Rs 60.2 crore in Q1FY24, while Ebitda margins contracted by 10 basis points (bps) YoY to 11.7 percent.

Trending news

• Ola's Bhavish Aggarwal gets trolled after suggesting rupee symbol replace $ in keyboards
• Liver Doc shares how 39-year-old heavy drinker vomited 3 litres blood, died of multiple organ failure
• Airtel apologises after Neelesh Misra calls out harassment over late mother’s phone bill. See post
• 'You've accomplished nothing': Intern narrates 'worst interview experience' with crypto firm CEO

You got 30 Day’s Trial of

• Ad-Free Experience

• Actionable Insights
• MC Research
• Economic Calendar

You are already a Moneycontrol Pro user.

We couldn’t find any results matching your search.

Please try using other words for your search or explore other sections of the website for relevant information.

We’re sorry, we are currently experiencing some issues, please try again later.

Our team is working diligently to resolve the issue. Thank you for your patience and understanding.

• After-Hours
• Press Releases
• Analyst Research
• Dividend History
• Historical Quotes
• Historical NOCP
• P/E & PEG Ratios
• Option Chain
• Institutional Holdings
• Insider Activity
• SEC Filings
• Revenue EPS

Symbol Search

Recently viewed.

Analyze your stocks, your way

Leverage the Nasdaq+ Scorecard to analyze stocks based on your investment priorities and our market data.

Trending Stocks

Trending etfs, trending indexes.

• Type a symbol or company name. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return.

These symbols will be available throughout the site during your session.

Your symbols have been updated

Edit watchlist.

• Type a symbol or company name. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return.

Opt in to Smart Portfolio

Smart Portfolio is supported by our partner TipRanks. By connecting my portfolio to TipRanks Smart Portfolio I agree to their Terms of Use .

BASF to divest shares in its two joint ventures in Korla, China

In the fourth quarter of 2023, BASF started the process to divest its shares in the two joint venture companies BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China. As part of BASF’s global strategy for 1,4-butanediol (BDO), BASF has assessed the market environment and product carbon footprints (PCF) of BDO and its downstream products from different production sites worldwide. BDO value chains are under increased competitive pressure and characterized by global overcapacities. Furthermore, carbide-based BDO and polytetrahydrofuran produced in Korla have a significantly higher PCF due to the use of coal as a base raw material and the high energy intensity of the production process. In the future, BASF will customize its global portfolio of BDO and affiliated downstream products to provide competitive low-PCF offerings.

The situation in the Xinjiang region has always been part of BASF’s overall assessment of its joint ventures in Korla. Regular due diligence measures including internal and external audits have not found any evidence of human rights violations in the two joint ventures. Nonetheless, recently published reports related to the joint venture partner contain serious allegations that indicate activities inconsistent with BASF’s values. Consequently, BASF will accelerate the ongoing process to divest its shares in the two joint ventures in Korla, subject to negotiations and required approvals of the relevant authorities.

It is important to note that, also in the context of the public reports, BASF has no indication that employees of the two joint ventures in Korla were involved in human

rights violations. The most recent reports relate to BASF’s joint venture partner, in which BASF does not have a stake.

BASF’s presence in China remains otherwise unchanged, and the company is fully committed to its business activities and planned investments in the country. Already today, Greater China accounts for around half of global chemical production. Global growth in chemical production until 2030 will be driven by Greater China, which will account for around 80% of the total growth during the period from 2022 to 2030.

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €87.3 billion in 2022. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com .