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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets

The tables below present the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of September 30, 2024 and December 31, 2023. These ranges do not represent a range of values for any single instrument. For example, the lowest discount rate for a particular redeemable convertible preferred stock investment may be appropriate for valuing that specific debt security but may not be appropriate for valuing any other debt securities in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets.

Level 3 Instruments		Amount				Valuation Techniques		Significant Unobservable Inputs		Range of Significant Unobservable Inputs
As of September 30, 2024
Debt Securities
Redeemable convertible preferred stock		$	53,717			Option pricing model		Discount rate		9.82%-23.71%
								Volatility		33.5%-65.39%
Total		$	53,717
Equity Securities
Redeemable convertible preferred stock		$	15,000			Measurement alternative
Contribution to investment fund			565			Measurement alternative
Private equity securities			56			Measurement alternative
Convertible preferred stock			9,166			Option pricing model		Discount rate		4.41%-18.26%
								Volatility		40.5%-49.6%
Total		$	24,787
As of December 31, 2023
Debt Securities
Redeemable convertible preferred stock		$	48,277			Option pricing model		Discount rate		9.82%-23.71%
								Volatility		33.5%-65.39%
Total		$	48,277
Equity Securities
Redeemable convertible preferred stock		$	15,000			Measurement alternative
Contribution to investment fund			574			Measurement alternative
Private equity securities			857			Measurement alternative
Convertible preferred stock			8,152			Option pricing model		Discount rate		4.41%-18.26%
								Volatility		40.5%-49.6%
Convertible preferred stock			2,264			Measurement alternative
Total		$	26,847

Summary of Changes in Fair Value of Level 1 and Level 3 Assets Included Debt and Equity Securities

The below tables present a summary of changes in fair value of Level 1 and Level 3 assets, included within Debt and equity securities in the Condensed Consolidated Balance Sheets, by investment type (in thousands of USD):

		Nine Months Ended September 30, 2024
		Level 1				Level 3								Total
		Equity Securities				Equity Securities				Debt Securities				Debt & Equity Securities
Beginning balance, January 1		$	16,109			$	26,847			$	48,277			$	91,233
Business disposition			-				(776	)			6,522				5,746
Net unrealized gain			3,352				19				-				3,371
Sales and settlement			-				(4	)			-				(4	)
Reclassification			(18,701	)			-				-				(18,701	)
Currency translation differences			(757	)			(398	)			(2,148	)			(3,303	)
Ending balance, March 31,			3				25,688				52,651				78,342
Net unrealized gain			-				1,852				-				1,852
Sales and settlement			-				(2,709	)			(19	)			(2,728	)
Currency translation differences			-				(535	)			(1,607	)			(2,142	)
Ending balance, June 30			3				24,296				51,025				75,324
Currency translation differences			—				491				2,692				3,183
Ending balance, September 30		$	3			$	24,787			$	53,717			$	78,507

		Nine Months Ended September 30, 2023
		Level 1				Level 3								Total
		Equity Securities				Equity Securities				Debt Securities				Debt & Equity Securities
Beginning balance, January 1		$	8,680			$	31,672			$	68,787			$	109,139
Purchases			—				46				—				46
Net unrealized gain			117				128				—				245
Currency translation differences			7				(617	)			(1,926	)			(2,536	)
Ending balance, March 31,			8,804				31,229				66,861				106,894
Purchases			-				-				675				675
Business disposition			-				(1,630	)			2,323				693
Net unrealized gain (loss)			858				(3	)			-				855
Reclassification			19				(19	)			-				-
Currency translation differences			(786	)			(87	)			(461	)			(1,334	)
Ending balance, June 30			8,895				29,490				69,398				107,783
Purchases			1,294				—				384				1,678
Currency translation differences			(356	)			(291	)			(1,663	)			(2,310	)
Ending balance, September 30		$	9,833			$	29,199			$	68,119			$	107,151

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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