White Room

Approved Investment Model

The Group’s Investment Structure

White Room adopts a flexible, multi-track investment structure, through which investments are executed across five primary pathways:

Deal-Based Investment

(Deal-Based Investment)

A project is presented as an independent transaction with clearly defined scope, timeline, returns, and risks.

It is not part of ongoing operational plans but rather a specific initiative managed separately.

No separate legal entity is established; however, funding is provided based on a detailed feasibility analysis.

Standalone Project Investment within a Subsidiary

(Standalone Project Investment)

Funding specific projects managed through an existing subsidiary classified according to its role, risk exposure, and financing limits.

This approach is used when the project falls within the company’s operational scope but requires dedicated financing, independent oversight, and direct return evaluation.

The project is subject to separate financial and operational monitoring within the company’s structure and is linked to defined stop-gates and performance indicators.

This model is suitable for projects that support internal growth without requiring an independent legal structure.

Investment through Special Purpose Vehicles

(SPV – Special Purpose Vehicle)

Used for large-scale or specialized projects with higher risks or involving multiple partners.

A dedicated company is established for the project with full legal and financial separation from the holding company or subsidiary.

This enables external financing and partnerships without affecting the group’s core balance sheets.

Closed Investment Funds

(Subject to Conditions)

The launch of public investment funds is not permitted during 2026.

A closed fund may be established only after achieving institutional and regulatory readiness, alongside a full assessment of legal and governance risks.

Equity Participation with Added Value

(Equity with Added Value)

Equity ownership is granted only in exchange for tangible contributions such as operational expertise, technology, market access, or strategic financing.

Ownership is governed by vesting agreements or conditional rights linked to performance.