In Aug 2021, Huarui SmartLink completed an investment in Nasdaq, USA Core Cloud Software Equity Basket through a Public Market Core Position transaction, with committed capital of USD 75M. The asset is currently valued at USD 240M (2025 Market Value), and has become one of the firm's key tracked opportunities within its global multi-asset allocation framework.

Enterprise digitization, deeper SaaS penetration, and cloud-native adoption created durable growth in leading software franchises. Based on its assessment of industry trends, valuation levels, and market liquidity, the team continues to deepen research coverage and post-investment monitoring around this opportunity.

Most of the position was already monetized through staged profit-taking from 2023 to 2025, with only a small high-conviction core holding retained. In parallel, the investment also prioritizes platforms with strong data security, lower-energy cloud architecture, and transparent workforce governance. This remains consistent with Huarui SmartLink's investment approach centered on long-term thinking, balanced risk-adjusted returns, and sustainable value creation.