Infrastructure is what's missing from cross-border trade
Global trade is not short of participants. It is short of shared infrastructure — the boring layer that makes two unfamiliar businesses legible to each other.
When a company in one market wants to buy from a company in another, almost every step is a re-implementation of something someone else has already done. Finding a counterparty. Judging whether they are real. Understanding the category well enough to negotiate. Moving the paperwork.
Each of those steps is solvable. Together, they are infrastructure — and infrastructure is normally built once and used by everyone, rather than rebuilt privately by each participant.
That is the space Baalvion, the group's technology business, works in. The interesting problem is not adding another marketplace to the world; it is making the underlying information layer usable enough that the marketplace question becomes secondary.
Infrastructure work is judged over years, not launches. We think that suits the problem.