v3.26.1
Long-Term Equity Investments
 3 Months Ended
Mar. 31, 2026
Long-Term Equity Investments [Abstract]  
Long-Term Equity Investments

Note 5. Long-Term Equity Investments

 

The Company holds interests in several privately held companies as long-term investments. The following table presents the Company’s long-term investments as of March 31, 2026, and December 31, 2025 ($ in thousands):

 

   March 31, 2026   December 31, 2025 
       Carrying       Carrying 
   Cost Basis   Value   Cost Basis   Value 
Investment in Kerna Health  $2,140   $4,940   $2,140   $4,940 
Investment in Revere Master SPV Series 1 (Qxpress Pte Ltd)*   1,000    1,000    1,000    1,000 
Investment in MW LSV MasterClass, LLC (Yanka Industries, Inc. d.b.a.                    
Masterclass)*   170    170    170    170 
Investment in Payward, Inc. and MWSI VC Kraken-II, LLC (Payward, Inc. d.b.a.Kraken)* *   597    364    597    364 
Investment in Aeon Partners Fund Series EG (Epic Games, Inc.)*   3,500    2,248    3,500    2,248 
Investment in Tesspay, Inc. and Revere Master SPV Series VI (TessPay, Inc.)**   1,240    1,240    1,240    1,240 
                     
Investment in Discord Inc.   476    476    476    476 
                     
Investment in Automation Anywhere, Inc.   476    397    476    397 
Investment in Dominari Master SPV LLC Series VI (X.AI Corp. d.b.a. xAI)*   100    109    100    109 
Investment in Dominari Master SPV LLC Series XI (Cerebras Systems Inc.)*   25    25    25    25 
Investment in Dominari Master SPV LLC Series XII (Groq, Inc.)*   25    25    25    25 
Investment in AdvEn Inc.   750    750    750    750 
Investment in American Ventures LLC Series XX (TracX Logis Pte Ltd..)   102    102    -    - 
Total  $10,601   $11,846   $10,499   $11,744 

 

*Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

 

**Investment made in these companies are through both an SPV and direct investments.

 

The Company had no changes to the carrying values for the three months ended March 31, 2026, and recorded an increase in the carrying values of approximately $0.3 million for the three months ended March 31, 2025. Please see below details of the changes in carrying value by investment.

 

Investment in Dominari Master SPV LLC Series XII (Groq, Inc.)

 

On July 25, 2024, the Company entered into an agreement (the “Groq Agreement”) with Dominari Master SPV LLC whereby the Company agreed to purchase 25,000 Series XII Groq Units for $25 thousand. As of March 31, 2026, there was no change to the carrying value. On April 6, 2026, the Company received a payment of $58 thousand as a payment related to the Company’s investment.

 

Investment in TracX.

 

On January 13, 2026, the Company entered into an agreement (the “TracX Agreement”) with American Ventures LLC whereby the Company agreed to purchase Series XX TracX Logis units for $102 thousand.