Bermudian-registered G2D Investments Ltd has reported a strong turnaround in performance for the first half of 2025, posting net income of R$21.8 million (about $4 million) compared to a net loss of R$26.1 million in the same period last year.

The company, which is listed on the Bermuda Stock Exchange and trades Brazilian Depositary Receipts on the B3 in São Paulo, is an investment entity focused on high-growth tech, fintech and consumer brands in Brazil, the United States and Europe.

Its portfolio includes stakes in companies such as Stripe, the Brazilian education platform Quero Educação, and 2TM, the cryptoasset group.

The rebound was driven by R$31.1 million in unrealised gains across its equity portfolio, compared to steep unrealised losses last year. Net income for the second quarter alone was R$4.2 million, versus a R$13.3 million loss in Q2 2024.

However, a sharp depreciation in the Brazilian real led to a R$99.4 million foreign exchange adjustment, pushing total comprehensive income into negative territory.

The company’s net asset value fell to R$748.4 million from R$783.3 million the previous quarter, mainly due to currency effects.