THE Trendlines Group sank deeper into the red in the first quarter ended March 31 with a S$1.7 million net loss, compared to a net loss of S$770,000 a year ago.
The fair value of its portfolio held steady at US$83.8 million at end-March, compared to US$83.7 million at end-2016 as the increase of its investments was offset by a write-off of three portfolio companies mainly due to business failure or lack of funding, the group said on Tuesday night.
The Israeli company focuses on developing technology-based companies in the medical and agricultural fields.
Its total income for the quarter was US$1.2 million, compared to US$1.1 million in the three months ended March 31, 2016.
Group CEO and chairman Todd Dollinger said the company expects further additions to the portfolio in the near future from both its Israeli incubators and from Trendlines Medical Singapore, which was officially launched in the first quarter.